PAVE.L vs. JEDG.L
PAVE.L (Global X U.S. Infrastructure Development UCITS ETF USD Accumulating) and JEDG.L (VanEck Space Innovators UCITS ETF) are both Industrials Equities funds - PAVE.L tracks the Indxx U.S. Infrastructure Development v2 Index while JEDG.L tracks the MSCI World/Materials NR USD. Both are passively managed. Over the past 3 years, PAVE.L returned 26.21%/yr vs 56.01%/yr for JEDG.L. A 0.55 correlation means they provide meaningful diversification when combined. PAVE.L charges 0.47%/yr vs 0.55%/yr for JEDG.L.
Performance
PAVE.L vs. JEDG.L - Performance Comparison
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Different Trading Currencies
PAVE.L is traded in USD, while JEDG.L is traded in GBP. To make them comparable, the JEDG.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 lower than JEDG.L's 32.98% return.
PAVE.L
- 1D
- 1.51%
- 1M
- 6.95%
- YTD
- 23.45%
- 6M
- 22.32%
- 1Y
- 40.89%
- 3Y*
- 26.21%
- 5Y*
- —
- 10Y*
- —
JEDG.L
- 1D
- 0.00%
- 1M
- -33.97%
- YTD
- 32.98%
- 6M
- 28.24%
- 1Y
- 98.16%
- 3Y*
- 56.01%
- 5Y*
- —
- 10Y*
- —
PAVE.L vs. JEDG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PAVE.L Global X U.S. Infrastructure Development UCITS ETF USD Accumulating | 23.45% | 19.81% | 17.96% | 31.55% | 18.93% |
JEDG.L VanEck Space Innovators UCITS ETF | 32.98% | 93.99% | 43.70% | 12.05% | -12.92% |
Correlation
The correlation between PAVE.L and JEDG.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.55 |
The correlation between PAVE.L and JEDG.L shifts across timeframes, from 0.39 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PAVE.L vs. JEDG.L — Risk / Return Rank
PAVE.L
JEDG.L
PAVE.L vs. JEDG.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 VanEck Space Innovators UCITS ETF (JEDG.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 | JEDG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.33 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 2.86 | +0.60 |
| Martin ratioReturn relative to average drawdown | 12.34 | 9.82 | +2.52 |
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Drawdowns
PAVE.L vs. JEDG.L - Drawdown Comparison
The maximum PAVE.L drawdown since its inception was -27.10%, smaller than the maximum JEDG.L drawdown of -34.47%. Use the drawdown chart below to compare losses from any high point for PAVE.L and JEDG.L.
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Drawdown Indicators
| PAVE.L | JEDG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.10% | -34.47% | +7.37% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -34.47% | +22.70% |
Max Drawdown (3Y)Largest decline over 3 years | -27.10% | -34.47% | +7.37% |
Current DrawdownCurrent decline from peak | 0.00% | -34.47% | +34.47% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -9.05% | +3.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 10.03% | -6.72% |
Volatility
PAVE.L vs. JEDG.L - Volatility Comparison
The current volatility for Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L) is 5.43%, while VanEck Space Innovators UCITS ETF (JEDG.L) has a volatility of 16.19%. This indicates that PAVE.L experiences smaller price fluctuations and is considered to be less risky than JEDG.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 | JEDG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.43% | 16.19% | -10.76% |
Volatility (6M)Calculated over the trailing 6-month period | 14.77% | 37.27% | -22.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.58% | 47.18% | -28.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.69% | 35.02% | -13.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 35.02% | -13.33% |
PAVE.L vs. JEDG.L - Expense Ratio Comparison
PAVE.L has a 0.47% expense ratio, which is lower than JEDG.L's 0.55% expense ratio.
Dividends
PAVE.L vs. JEDG.L - Dividend Comparison
Neither PAVE.L nor JEDG.L has paid dividends to shareholders.
Frequently Asked Questions
PAVE.L and JEDG.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAVE.L is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAVE.L is cheaper with a 0.47% expense ratio, compared with 0.55% for JEDG.L.
PAVE.L tracks Indxx U.S. Infrastructure Development v2 Index, while JEDG.L tracks MSCI World/Materials NR USD. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.47% for PAVE.L and 0.55% for JEDG.L.
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