PAVE.L vs. IISU.L
PAVE.L (Global X U.S. Infrastructure Development UCITS ETF USD Accumulating) and IISU.L (iShares S&P 500 Industrials Sector UCITS ETF USD (Acc)) are both Industrials Equities funds - PAVE.L tracks the Indxx U.S. Infrastructure Development v2 Index while IISU.L tracks the S&P 500 Capped 35/20 Industrials Index. Both are passively managed. Over the past 3 years, PAVE.L returned 25.13%/yr vs 20.65%/yr for IISU.L. Their correlation of 0.86 suggests significant overlap in exposure. PAVE.L charges 0.47%/yr vs 0.15%/yr for IISU.L.
Performance
PAVE.L vs. IISU.L - Performance Comparison
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Different Trading Currencies
PAVE.L is traded in USD, while IISU.L is traded in GBp. To make them comparable, the IISU.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 16.31% return, which is significantly higher than IISU.L's 10.67% return.
PAVE.L
- 1D
- -0.68%
- 1M
- -1.03%
- YTD
- 16.31%
- 6M
- 16.78%
- 1Y
- 32.91%
- 3Y*
- 25.13%
- 5Y*
- —
- 10Y*
- —
IISU.L
- 1D
- -0.89%
- 1M
- -0.56%
- YTD
- 10.67%
- 6M
- 12.39%
- 1Y
- 20.75%
- 3Y*
- 20.65%
- 5Y*
- 12.09%
- 10Y*
- —
PAVE.L vs. IISU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAVE.L Global X U.S. Infrastructure Development UCITS ETF USD Accumulating | 16.31% | 19.81% | 17.96% | 31.55% | -6.33% | 2.03% |
IISU.L iShares S&P 500 Industrials Sector UCITS ETF USD (Acc) | 10.67% | 19.63% | 17.30% | 17.33% | -5.28% | 1.21% |
Correlation
The correlation between PAVE.L and IISU.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.86 |
The correlation between PAVE.L and IISU.L has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.
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Return for Risk
PAVE.L vs. IISU.L — Risk / Return Rank
PAVE.L
IISU.L
PAVE.L vs. IISU.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 iShares S&P 500 Industrials Sector UCITS ETF USD (Acc) (IISU.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.
| PAVE.L | IISU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 1.91 | +0.88 |
| Martin ratioReturn relative to average drawdown | 9.96 | 7.47 | +2.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PAVE.L | IISU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 1.47 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.38 | +0.40 |
Drawdowns
PAVE.L vs. IISU.L - Drawdown Comparison
The maximum PAVE.L drawdown since its inception was -27.10%, smaller than the maximum IISU.L drawdown of -41.81%. Use the drawdown chart below to compare losses from any high point for PAVE.L and IISU.L.
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Drawdown Indicators
| PAVE.L | IISU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.10% | -41.81% | +14.71% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -10.84% | -0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -27.10% | -19.93% | -7.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.88% | — |
Current DrawdownCurrent decline from peak | -3.38% | -2.70% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -8.58% | +2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.77% | +0.53% |
Volatility
PAVE.L vs. IISU.L - Volatility Comparison
Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L) has a higher volatility of 6.32% compared to iShares S&P 500 Industrials Sector UCITS ETF USD (Acc) (IISU.L) at 3.75%. This indicates that PAVE.L's price experiences larger fluctuations and is considered to be riskier than IISU.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 | IISU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.32% | 3.75% | +2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 14.64% | 11.28% | +3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.46% | 14.05% | +4.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.72% | 21.87% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.72% | 25.50% | -3.78% |
PAVE.L vs. IISU.L - Expense Ratio Comparison
PAVE.L has a 0.47% expense ratio, which is higher than IISU.L's 0.15% expense ratio.
Dividends
PAVE.L vs. IISU.L - Dividend Comparison
Neither PAVE.L nor IISU.L has paid dividends to shareholders.
Frequently Asked Questions
PAVE.L and IISU.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IISU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IISU.L is cheaper with a 0.15% expense ratio, compared with 0.47% for PAVE.L.
PAVE.L tracks Indxx U.S. Infrastructure Development v2 Index, while IISU.L tracks S&P 500 Capped 35/20 Industrials Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.47% for PAVE.L and 0.15% for IISU.L.
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