PAVE.L vs. IUIS.L
PAVE.L (Global X U.S. Infrastructure Development UCITS ETF USD Accumulating) and IUIS.L (iShares S&P 500 Industrials Sector UCITS ETF USD (Acc)) are both exchange-traded funds - PAVE.L is a Industrials Equities fund tracking the Indxx U.S. Infrastructure Development v2 Index, while IUIS.L is a S&P 500 fund tracking 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 20.64%/yr for IUIS.L. Their correlation of 0.92 suggests significant overlap in exposure. PAVE.L charges 0.47%/yr vs 0.15%/yr for IUIS.L.
Performance
PAVE.L vs. IUIS.L - Performance Comparison
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Returns By Period
In the year-to-date period, PAVE.L achieves a 16.31% return, which is significantly higher than IUIS.L's 10.85% return.
PAVE.L
- 1D
- -0.68%
- 1M
- -1.03%
- YTD
- 16.31%
- 6M
- 16.78%
- 1Y
- 32.91%
- 3Y*
- 25.13%
- 5Y*
- —
- 10Y*
- —
IUIS.L
- 1D
- -0.68%
- 1M
- -0.48%
- YTD
- 10.85%
- 6M
- 12.30%
- 1Y
- 20.64%
- 3Y*
- 20.64%
- 5Y*
- 12.18%
- 10Y*
- —
PAVE.L vs. IUIS.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% |
IUIS.L iShares S&P 500 Industrials Sector UCITS ETF USD (Acc) | 10.85% | 19.17% | 17.53% | 17.86% | -5.28% | 0.76% |
Correlation
The correlation between PAVE.L and IUIS.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.92 |
The correlation between PAVE.L and IUIS.L has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
PAVE.L vs. IUIS.L — Risk / Return Rank
PAVE.L
IUIS.L
PAVE.L vs. IUIS.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) (IUIS.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 | IUIS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 1.97 | +0.81 |
| Martin ratioReturn relative to average drawdown | 9.96 | 7.60 | +2.37 |
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 | IUIS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 1.41 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.70 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.64 | +0.15 |
Drawdowns
PAVE.L vs. IUIS.L - Drawdown Comparison
The maximum PAVE.L drawdown since its inception was -27.10%, smaller than the maximum IUIS.L drawdown of -42.18%. Use the drawdown chart below to compare losses from any high point for PAVE.L and IUIS.L.
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Drawdown Indicators
| PAVE.L | IUIS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.10% | -42.18% | +15.08% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -10.42% | -1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -27.10% | -19.63% | -7.47% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.22% | — |
Current DrawdownCurrent decline from peak | -3.38% | -2.40% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -5.09% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.71% | +0.59% |
Volatility
PAVE.L vs. IUIS.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) (IUIS.L) at 4.32%. This indicates that PAVE.L's price experiences larger fluctuations and is considered to be riskier than IUIS.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 | IUIS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.32% | 4.32% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.64% | 11.87% | +2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.46% | 14.58% | +3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.72% | 17.33% | +4.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.72% | 19.52% | +2.20% |
PAVE.L vs. IUIS.L - Expense Ratio Comparison
PAVE.L has a 0.47% expense ratio, which is higher than IUIS.L's 0.15% expense ratio.
Dividends
PAVE.L vs. IUIS.L - Dividend Comparison
Neither PAVE.L nor IUIS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, PAVE.L and IUIS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IUIS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUIS.L is cheaper with a 0.15% expense ratio, compared with 0.47% for PAVE.L.
PAVE.L is categorized as Industrials Equities, while IUIS.L is S&P 500. PAVE.L tracks Indxx U.S. Infrastructure Development v2 Index, while IUIS.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 IUIS.L.
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