PAVE.L vs. BRIP.L
PAVE.L (Global X U.S. Infrastructure Development UCITS ETF USD Accumulating) and BRIP.L (Global X European Infrastructure Development UCITS ETF EUR Accumulating) are both Industrials Equities funds from Global X - PAVE.L tracks the Indxx U.S. Infrastructure Development v2 Index while BRIP.L tracks the Mirae Asset European Infrastructure Development Index. Both are passively managed. Over the past year, PAVE.L returned 40.89% vs 11.99% for BRIP.L. At a 0.47 correlation, their price movements are largely independent. Both charge a 0.47% expense ratio.
Performance
PAVE.L vs. BRIP.L - Performance Comparison
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Different Trading Currencies
PAVE.L is traded in USD, while BRIP.L is traded in GBP. To make them comparable, the BRIP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PAVE.L achieves a 23.45% return, which is significantly higher than BRIP.L's 5.84% return.
PAVE.L
- 1D
- 1.51%
- 1M
- 6.95%
- YTD
- 23.45%
- 6M
- 22.32%
- 1Y
- 40.89%
- 3Y*
- 26.21%
- 5Y*
- —
- 10Y*
- —
BRIP.L
- 1D
- 0.00%
- 1M
- -2.22%
- YTD
- 5.84%
- 6M
- 5.73%
- 1Y
- 11.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAVE.L vs. BRIP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PAVE.L Global X U.S. Infrastructure Development UCITS ETF USD Accumulating | 23.45% | 19.81% | 10.18% |
BRIP.L Global X European Infrastructure Development UCITS ETF EUR Accumulating | 5.84% | 43.54% | -7.81% |
Correlation
The correlation between PAVE.L and BRIP.L is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024 | 0.47 |
The correlation between PAVE.L and BRIP.L has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.
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Return for Risk
PAVE.L vs. BRIP.L — Risk / Return Rank
PAVE.L
BRIP.L
PAVE.L vs. BRIP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L) and Global X European Infrastructure Development UCITS ETF EUR Accumulating (BRIP.L). 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.
| PAVE.L | BRIP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.14 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 1.05 | +2.41 |
| Martin ratioReturn relative to average drawdown | 12.34 | 2.93 | +9.41 |
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Drawdowns
PAVE.L vs. BRIP.L - Drawdown Comparison
The maximum PAVE.L drawdown since its inception was -27.10%, which is greater than BRIP.L's maximum drawdown of -14.25%. Use the drawdown chart below to compare losses from any high point for PAVE.L and BRIP.L.
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Drawdown Indicators
| PAVE.L | BRIP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.10% | -14.25% | -12.85% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -11.46% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -27.10% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -6.63% | +6.63% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -3.77% | -2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 4.11% | -0.80% |
Volatility
PAVE.L vs. BRIP.L - Volatility Comparison
Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L) has a higher volatility of 5.43% compared to Global X European Infrastructure Development UCITS ETF EUR Accumulating (BRIP.L) at 4.00%. This indicates that PAVE.L's price experiences larger fluctuations and is considered to be riskier than BRIP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAVE.L | BRIP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.43% | 4.00% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 14.77% | 14.01% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.58% | 16.75% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.69% | 17.78% | +3.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 17.78% | +3.91% |
PAVE.L vs. BRIP.L - Expense Ratio Comparison
Both PAVE.L and BRIP.L have an expense ratio of 0.47%.
Dividends
PAVE.L vs. BRIP.L - Dividend Comparison
Neither PAVE.L nor BRIP.L has paid dividends to shareholders.
Frequently Asked Questions
PAVE.L and BRIP.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.47% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
PAVE.L and BRIP.L have the same expense ratio: 0.47% per year.
PAVE.L tracks Indxx U.S. Infrastructure Development v2 Index, while BRIP.L tracks Mirae Asset European Infrastructure Development Index.
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