PAVE vs. PMLP.L
Compare and contrast key facts about Global X US Infrastructure Development ETF (PAVE) and HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.L).
PAVE and PMLP.L 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. PMLP.L is a passively managed fund by HANetf that tracks the performance of the MSCI World/Energy NR USD. It was launched on Jul 27, 2020. Both PAVE and PMLP.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PAVE vs. PMLP.L - Performance Comparison
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Different Trading Currencies
PAVE is traded in USD, while PMLP.L is traded in GBp. To make them comparable, the PMLP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PAVE achieves a 7.34% return, which is significantly lower than PMLP.L's 22.83% return.
PAVE
- 1D
- -0.75%
- 1M
- -3.25%
- YTD
- 7.34%
- 6M
- 7.71%
- 1Y
- 50.52%
- 3Y*
- 22.82%
- 5Y*
- 16.08%
- 10Y*
- —
PMLP.L
- 1D
- 1.70%
- 1M
- 1.78%
- YTD
- 22.83%
- 6M
- 21.35%
- 1Y
- 22.26%
- 3Y*
- 24.55%
- 5Y*
- 21.11%
- 10Y*
- —
PAVE vs. PMLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 7.34% | 19.36% | 17.92% | 31.01% | -7.17% | 36.42% | 35.23% |
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF | 22.83% | 6.05% | 33.55% | 13.28% | 20.86% | 33.66% | 13.25% |
Correlation
The correlation between PAVE and PMLP.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners. Combining low-correlation assets is one of the most reliable ways to reduce portfolio risk without sacrificing expected returns.
PAVE vs. PMLP.L - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is higher than PMLP.L's 0.40% expense ratio.
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Return for Risk
PAVE vs. PMLP.L — Risk / Return Rank
PAVE
PMLP.L
PAVE vs. PMLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.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 | PMLP.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.53 | 0.91 | +0.61 |
Sortino ratioReturn per unit of downside risk | 2.20 | 1.29 | +0.91 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.18 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.89 | 2.29 | +0.60 |
Martin ratioReturn relative to average drawdown | 10.51 | 6.67 | +3.84 |
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 | PMLP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 0.91 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 1.05 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 1.26 | -0.63 |
Drawdowns
PAVE vs. PMLP.L - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, which is greater than PMLP.L's maximum drawdown of -19.85%. Use the drawdown chart below to compare losses from any high point for PAVE and PMLP.L.
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Drawdown Indicators
| PAVE | PMLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.08% | -20.50% | -23.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.91% | -7.40% | -4.51% |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | -20.50% | -5.73% |
Current DrawdownCurrent decline from peak | -7.82% | -3.35% | -4.47% |
Average DrawdownAverage peak-to-trough decline | -6.30% | -5.90% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 3.03% | +0.42% |
Volatility
PAVE vs. PMLP.L - Volatility Comparison
Global X US Infrastructure Development ETF (PAVE) has a higher volatility of 7.83% compared to HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.L) at 6.93%. This indicates that PAVE's price experiences larger fluctuations and is considered to be riskier than PMLP.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 | PMLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.83% | 6.93% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 12.37% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.47% | 21.10% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.42% | 20.65% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.41% | 22.26% | +2.15% |
Dividends
PAVE vs. PMLP.L - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.86%, less than PMLP.L's 2.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 0.86% | 0.92% | 0.54% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% |
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF | 2.78% | 3.31% | 3.37% | 6.48% | 6.12% | 6.57% | 4.17% | 0.00% | 0.00% | 0.00% |