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PAVE vs. AIRR
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between PAVE and AIRR is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.00.9

Performance

PAVE vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X US Infrastructure Development ETF (PAVE) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

160.00%180.00%200.00%220.00%240.00%260.00%JulyAugustSeptemberOctoberNovemberDecember
191.71%
233.78%
PAVE
AIRR

Key characteristics

Sharpe Ratio

PAVE:

1.16

AIRR:

1.57

Sortino Ratio

PAVE:

1.73

AIRR:

2.20

Omega Ratio

PAVE:

1.21

AIRR:

1.27

Calmar Ratio

PAVE:

1.94

AIRR:

3.74

Martin Ratio

PAVE:

5.84

AIRR:

8.75

Ulcer Index

PAVE:

3.76%

AIRR:

4.30%

Daily Std Dev

PAVE:

18.96%

AIRR:

23.99%

Max Drawdown

PAVE:

-44.08%

AIRR:

-42.37%

Current Drawdown

PAVE:

-10.60%

AIRR:

-9.37%

Returns By Period

In the year-to-date period, PAVE achieves a 19.47% return, which is significantly lower than AIRR's 35.06% return.


PAVE

YTD

19.47%

1M

-6.72%

6M

10.02%

1Y

20.50%

5Y*

18.86%

10Y*

N/A

AIRR

YTD

35.06%

1M

-5.64%

6M

13.21%

1Y

35.80%

5Y*

21.90%

10Y*

15.86%

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PAVE vs. AIRR - Expense Ratio Comparison

PAVE has a 0.47% expense ratio, which is lower than AIRR's 0.70% expense ratio.


AIRR
First Trust RBA American Industrial Renaissance ETF
Expense ratio chart for AIRR: current value at 0.70% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.70%
Expense ratio chart for PAVE: current value at 0.47% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.47%

Risk-Adjusted Performance

PAVE vs. AIRR - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.


Sharpe ratio
The chart of Sharpe ratio for PAVE, currently valued at 1.16, compared to the broader market0.002.004.001.161.57
The chart of Sortino ratio for PAVE, currently valued at 1.73, compared to the broader market-2.000.002.004.006.008.0010.001.732.20
The chart of Omega ratio for PAVE, currently valued at 1.21, compared to the broader market0.501.001.502.002.503.001.211.27
The chart of Calmar ratio for PAVE, currently valued at 1.94, compared to the broader market0.005.0010.0015.001.943.74
The chart of Martin ratio for PAVE, currently valued at 5.84, compared to the broader market0.0020.0040.0060.0080.00100.005.848.75
PAVE
AIRR

The current PAVE Sharpe Ratio is 1.16, which is comparable to the AIRR Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of PAVE and AIRR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio1.001.502.002.503.00JulyAugustSeptemberOctoberNovemberDecember
1.16
1.57
PAVE
AIRR

Dividends

PAVE vs. AIRR - Dividend Comparison

PAVE's dividend yield for the trailing twelve months is around 0.57%, more than AIRR's 0.24% yield.


TTM2023202220212020201920182017201620152014
PAVE
Global X US Infrastructure Development ETF
0.57%0.68%0.84%0.48%0.44%0.67%0.78%0.30%0.00%0.00%0.00%
AIRR
First Trust RBA American Industrial Renaissance ETF
0.18%0.23%0.12%0.05%0.10%0.20%0.43%0.30%0.08%0.47%0.37%

Drawdowns

PAVE vs. AIRR - Drawdown Comparison

The maximum PAVE drawdown since its inception was -44.08%, roughly equal to the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for PAVE and AIRR. For additional features, visit the drawdowns tool.


-12.00%-10.00%-8.00%-6.00%-4.00%-2.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-10.60%
-9.37%
PAVE
AIRR

Volatility

PAVE vs. AIRR - Volatility Comparison

The current volatility for Global X US Infrastructure Development ETF (PAVE) is 5.32%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 6.15%. This indicates that PAVE experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


4.00%6.00%8.00%10.00%12.00%JulyAugustSeptemberOctoberNovemberDecember
5.32%
6.15%
PAVE
AIRR
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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