OWNS vs. PAVE

Last updated Jun 14, 2026

OWNS (CCM Affordable Housing MBS ETF) and PAVE (Global X US Infrastructure Development ETF) are both exchange-traded funds - OWNS is a Mortgage Backed Securities fund actively managed by CCM, while PAVE is a Industrials Equities fund tracking the INDXX U.S. Infrastructure Development Index. OWNS is actively managed, while PAVE is passively managed. Over the past year, OWNS returned 6.10% vs 38.94% for PAVE. At a 0.14 correlation, their price movements are largely independent. OWNS charges 0.30%/yr vs 0.47%/yr for PAVE.

Performance

OWNS vs. PAVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CCM Affordable Housing MBS ETF (OWNS) and Global X US Infrastructure Development ETF (PAVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWNS achieves a 0.42% return, which is significantly lower than PAVE's 20.86% return.

OWNS

• 1D: -0.40%
• 1M: 0.23%
• YTD: 0.42%
• 6M: 0.95%
• 1Y: 6.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAVE

• 1D: 1.01%
• 1M: 1.64%
• YTD: 20.86%
• 6M: 18.50%
• 1Y: 38.94%
• 3Y*: 25.14%
• 5Y*: 17.84%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

OWNS vs. PAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OWNS CCM Affordable Housing MBS ETF	0.42%	7.75%	3.65%
PAVE Global X US Infrastructure Development ETF	20.86%	19.36%	6.54%

Correlation

The correlation between OWNS and PAVE is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	0.14

The correlation between OWNS and PAVE shifts across timeframes, from 0.14 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

OWNS vs. PAVE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OWNS

OWNS Risk / Return Rank: 40
OWNS Sharpe Ratio Rank: 40
OWNS Sortino Ratio Rank: 41
OWNS Omega Ratio Rank: 40
OWNS Calmar Ratio Rank: 42
OWNS Martin Ratio Rank: 37

PAVE

PAVE Risk / Return Rank: 67
PAVE Sharpe Ratio Rank: 67
PAVE Sortino Ratio Rank: 69
PAVE Omega Ratio Rank: 60
PAVE Calmar Ratio Rank: 71
PAVE Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OWNS vs. PAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CCM Affordable Housing MBS ETF (OWNS) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	OWNS	PAVE	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.90	-0.62
Sortino ratio: Return per unit of downside risk	1.90	2.69	-0.79
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio: Return relative to maximum drawdown	1.88	3.11	-1.24
Martin ratio: Return relative to average drawdown	5.29	11.32	-6.03

OWNS vs. PAVE - Sharpe Ratio Comparison

The current OWNS Sharpe Ratio is 1.28, which is lower than the PAVE Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of OWNS and PAVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OWNS vs. PAVE - Drawdown Comparison

The maximum OWNS drawdown since its inception was -5.39%, smaller than the maximum PAVE drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for OWNS and PAVE.

Drawdown Indicators

	OWNS	PAVE	Difference
Max Drawdown Largest peak-to-trough decline	-5.39%	-44.08%	+38.69%
Max Drawdown (1Y) Largest decline over 1 year	-3.03%	-11.91%	+8.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.23%	—
Current Drawdown Current decline from peak	-1.61%	-1.01%	-0.60%
Average Drawdown Average peak-to-trough decline	-1.55%	-6.23%	+4.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	3.27%	-2.20%

Volatility

OWNS vs. PAVE - Volatility Comparison

The current volatility for CCM Affordable Housing MBS ETF (OWNS) is 1.47%, while Global X US Infrastructure Development ETF (PAVE) has a volatility of 7.35%. This indicates that OWNS 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.

Volatility by Period

	OWNS	PAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	7.35%	-5.88%
Volatility (6M) Calculated over the trailing 6-month period	3.13%	15.87%	-12.74%
Volatility (1Y) Calculated over the trailing 1-year period	4.45%	19.49%	-15.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.38%	21.70%	-16.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.38%	24.40%	-19.02%

OWNS vs. PAVE - Expense Ratio Comparison

OWNS has a 0.30% expense ratio, which is lower than PAVE's 0.47% expense ratio.

Dividends

OWNS vs. PAVE - Dividend Comparison

OWNS's dividend yield for the trailing twelve months is around 4.31%, more than PAVE's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
OWNS CCM Affordable Housing MBS ETF	4.31%	4.12%	3.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAVE Global X US Infrastructure Development ETF	0.76%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%

Frequently Asked Questions

Can I hold both OWNS and PAVE in my portfolio?

OWNS and PAVE have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWNS or PAVE?

PAVE has higher volatility (7.35%) compared to OWNS (1.47%). In terms of maximum drawdown, OWNS dropped -5.39% vs PAVE's -44.08%.

Which ETF is better, OWNS or PAVE?

On 1-year performance, PAVE leads with 38.94% vs 6.10% for OWNS. On fees, OWNS is cheaper at 0.30% per year. On volatility, OWNS has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OWNS or PAVE?

Over the 1-year period, PAVE has performed better with a 38.94% return vs 6.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OWNS or PAVE?

OWNS is cheaper with a 0.30% expense ratio, compared with 0.47% for PAVE.

Which ETF pays a higher dividend yield, OWNS or PAVE?

OWNS has the higher dividend yield at 4.31%, compared with 0.76% for PAVE.

What is the main difference between OWNS and PAVE?

OWNS is categorized as Mortgage Backed Securities, while PAVE is Industrials Equities. They also come from different issuers: CCM and Global X. Their fees differ too: 0.30% for OWNS and 0.47% for PAVE.

Which has better risk-adjusted returns?

PAVE currently has the higher Sharpe Ratio (1.90 vs 1.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.