PAVE vs. BILT
PAVE (Global X US Infrastructure Development ETF) and BILT (iShares Infrastructure Active ETF) are both exchange-traded funds - PAVE is a Industrials Equities fund tracking the INDXX U.S. Infrastructure Development Index, while BILT is a Utilities Equities fund actively managed by iShares. PAVE is passively managed, while BILT is actively managed. At a 0.41 correlation, their price movements are largely independent. PAVE charges 0.47%/yr vs 0.60%/yr for BILT.
Performance
PAVE vs. BILT - Performance Comparison
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Returns By Period
In the year-to-date period, PAVE achieves a 20.55% return, which is significantly higher than BILT's 12.84% return.
PAVE
- 1D
- 0.56%
- 1M
- 0.42%
- YTD
- 20.55%
- 6M
- 19.00%
- 1Y
- 37.89%
- 3Y*
- 27.31%
- 5Y*
- 17.52%
- 10Y*
- —
BILT
- 1D
- 0.40%
- 1M
- -1.04%
- YTD
- 12.84%
- 6M
- 12.40%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAVE vs. BILT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAVE Global X US Infrastructure Development ETF | 20.55% | 5.30% |
BILT iShares Infrastructure Active ETF | 12.84% | 3.99% |
Correlation
The correlation between PAVE and BILT is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025 | 0.41 |
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Return for Risk
PAVE vs. BILT — Risk / Return Rank
PAVE
BILT
PAVE vs. BILT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and iShares Infrastructure Active ETF (BILT). 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 | BILT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.34 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | — | — |
| Martin ratioReturn relative to average drawdown | 11.72 | — | — |
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 | BILT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 2.05 | -1.36 |
Drawdowns
PAVE vs. BILT - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, which is greater than BILT's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for PAVE and BILT.
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Drawdown Indicators
| PAVE | BILT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.08% | -5.38% | -38.70% |
Max Drawdown (1Y)Largest decline over 1 year | -11.91% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -26.23% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | — | — |
Current DrawdownCurrent decline from peak | -1.27% | -1.97% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -1.44% | -4.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | — | — |
Volatility
PAVE vs. BILT - Volatility Comparison
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Volatility by Period
| PAVE | BILT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 10.26% | +8.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.60% | 10.26% | +11.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.38% | 10.26% | +14.12% |
PAVE vs. BILT - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is lower than BILT's 0.60% expense ratio.
Dividends
PAVE vs. BILT - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.76%, less than BILT's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BILT iShares Infrastructure Active ETF | 1.33% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PAVE Global X US Infrastructure Development ETF | 0.76% | 0.92% | 0.54% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% |
Frequently Asked Questions
PAVE and BILT have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAVE is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAVE is cheaper with a 0.47% expense ratio, compared with 0.60% for BILT.
BILT has the higher dividend yield at 1.33%, compared with 0.76% for PAVE.
PAVE is categorized as Industrials Equities, while BILT is Utilities Equities. They also come from different issuers: Global X and iShares. Their fees differ too: 0.47% for PAVE and 0.60% for BILT.
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