PAVE vs. DRN
Compare and contrast key facts about Global X US Infrastructure Development ETF (PAVE) and Direxion Daily Real Estate Bull 3x Shares (DRN).
PAVE and DRN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PAVE is a passively managed fund by Global X that tracks the performance of the INDXX U.S. Infrastructure Development Index. It was launched on Mar 6, 2017. DRN is a passively managed fund by Direxion that tracks the performance of the MSCI US REIT Index (300%). It was launched on Jul 16, 2009. Both PAVE and DRN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAVE or DRN.
Performance
PAVE vs. DRN - Performance Comparison
Returns By Period
In the year-to-date period, PAVE achieves a 28.08% return, which is significantly higher than DRN's 17.08% return.
PAVE
28.08%
4.29%
12.74%
42.46%
21.48%
N/A
DRN
17.08%
-2.78%
53.98%
60.32%
-12.40%
-1.67%
Key characteristics
| PAVE | DRN | |
|---|---|---|
| Sharpe Ratio | 2.24 | 1.26 |
| Sortino Ratio | 3.12 | 1.80 |
| Omega Ratio | 1.39 | 1.22 |
| Calmar Ratio | 4.87 | 0.80 |
| Martin Ratio | 12.25 | 4.04 |
| Ulcer Index | 3.43% | 15.24% |
| Daily Std Dev | 18.76% | 48.81% |
| Max Drawdown | -44.08% | -86.32% |
| Current Drawdown | -3.14% | -60.29% |
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PAVE vs. DRN - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is lower than DRN's 0.99% expense ratio.
Correlation
The correlation between PAVE and DRN is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
PAVE vs. DRN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and Direxion Daily Real Estate Bull 3x Shares (DRN). 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.
Dividends
PAVE vs. DRN - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.54%, less than DRN's 2.02% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 0.54% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% |
DRN Direxion Daily Real Estate Bull 3x Shares | 2.02% | 2.84% | 2.70% | 4.21% | 1.91% | 2.59% | 3.12% | 0.92% |
Drawdowns
PAVE vs. DRN - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, smaller than the maximum DRN drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for PAVE and DRN. For additional features, visit the drawdowns tool.
Volatility
PAVE vs. DRN - Volatility Comparison
The current volatility for Global X US Infrastructure Development ETF (PAVE) is 7.82%, while Direxion Daily Real Estate Bull 3x Shares (DRN) has a volatility of 15.94%. This indicates that PAVE experiences smaller price fluctuations and is considered to be less risky than DRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.