KIE vs. PAVE
Compare and contrast key facts about SPDR S&P Insurance ETF (KIE) and Global X US Infrastructure Development ETF (PAVE).
KIE and PAVE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KIE is a passively managed fund by State Street that tracks the performance of the S&P Insurance Select Industry Index. It was launched on Nov 8, 2005. PAVE is a passively managed fund by Global X that tracks the performance of the INDXX U.S. Infrastructure Development Index. It was launched on Mar 6, 2017. Both KIE and PAVE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: KIE or PAVE.
Key characteristics
| KIE | PAVE | |
|---|---|---|
| YTD Return | 31.00% | 31.13% |
| 1Y Return | 38.22% | 52.78% |
| 3Y Return (Ann) | 14.96% | 16.89% |
| 5Y Return (Ann) | 12.91% | 21.69% |
| Sharpe Ratio | 2.61 | 2.77 |
| Sortino Ratio | 3.44 | 3.78 |
| Omega Ratio | 1.45 | 1.48 |
| Calmar Ratio | 4.53 | 5.89 |
| Martin Ratio | 14.66 | 15.42 |
| Ulcer Index | 2.58% | 3.40% |
| Daily Std Dev | 14.51% | 18.92% |
| Max Drawdown | -75.30% | -44.08% |
| Current Drawdown | -0.09% | -0.29% |
Correlation
The correlation between KIE and PAVE is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
KIE vs. PAVE - Performance Comparison
The year-to-date returns for both investments are quite close, with KIE having a 31.00% return and PAVE slightly higher at 31.13%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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KIE vs. PAVE - Expense Ratio Comparison
KIE has a 0.35% expense ratio, which is lower than PAVE's 0.47% expense ratio.
Risk-Adjusted Performance
KIE vs. PAVE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) and Global X US Infrastructure Development ETF (PAVE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
KIE vs. PAVE - Dividend Comparison
KIE's dividend yield for the trailing twelve months is around 1.29%, more than PAVE's 0.52% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KIE SPDR S&P Insurance ETF | 1.29% | 1.45% | 1.90% | 1.95% | 1.85% | 1.76% | 1.83% | 1.56% | 1.55% | 1.65% | 1.81% | 1.38% |
PAVE Global X US Infrastructure Development ETF | 0.52% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
KIE vs. PAVE - Drawdown Comparison
The maximum KIE drawdown since its inception was -75.30%, which is greater than PAVE's maximum drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for KIE and PAVE. For additional features, visit the drawdowns tool.
Volatility
KIE vs. PAVE - Volatility Comparison
The current volatility for SPDR S&P Insurance ETF (KIE) is 6.12%, while Global X US Infrastructure Development ETF (PAVE) has a volatility of 7.76%. This indicates that KIE experiences smaller price fluctuations and is considered to be less risky than PAVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.