PAVE vs. QYLD
Compare and contrast key facts about Global X US Infrastructure Development ETF (PAVE) and Global X NASDAQ 100 Covered Call ETF (QYLD).
PAVE and QYLD 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. QYLD is a passively managed fund by Global X that tracks the performance of the CBOE NASDAQ-100 Buy Write V2. It was launched on Dec 12, 2013. Both PAVE and QYLD 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. QYLD - Performance Comparison
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PAVE vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 8.16% | 19.36% | 17.92% | 31.01% | -7.17% | 36.42% | 19.72% | 33.26% | -19.15% | 14.11% |
QYLD Global X NASDAQ 100 Covered Call ETF | 0.61% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 22.69% | -3.07% | 13.17% |
Returns By Period
In the year-to-date period, PAVE achieves a 8.16% return, which is significantly higher than QYLD's 0.61% return.
PAVE
- 1D
- 1.73%
- 1M
- -6.65%
- YTD
- 8.16%
- 6M
- 9.30%
- 1Y
- 37.33%
- 3Y*
- 23.06%
- 5Y*
- 16.25%
- 10Y*
- —
QYLD
- 1D
- 0.58%
- 1M
- -1.11%
- YTD
- 0.61%
- 6M
- 7.46%
- 1Y
- 16.36%
- 3Y*
- 13.19%
- 5Y*
- 7.01%
- 10Y*
- 8.96%
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PAVE vs. QYLD - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Return for Risk
PAVE vs. QYLD — Risk / Return Rank
PAVE
QYLD
PAVE vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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 | QYLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.67 | 1.00 | +0.67 |
Sortino ratioReturn per unit of downside risk | 2.37 | 1.61 | +0.76 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 3.05 | 1.57 | +1.48 |
Martin ratioReturn relative to average drawdown | 11.19 | 10.32 | +0.87 |
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 | QYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.67 | 1.00 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.47 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.56 | +0.08 |
Correlation
The correlation between PAVE and QYLD is 0.58, 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.
Dividends
PAVE vs. QYLD - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.85%, less than QYLD's 11.85% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 0.85% | 0.92% | 0.54% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% | 0.00% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.85% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
Drawdowns
PAVE vs. QYLD - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for PAVE and QYLD.
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Drawdown Indicators
| PAVE | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.08% | -24.75% | -19.33% |
Max Drawdown (1Y)Largest decline over 1 year | -12.56% | -10.84% | -1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | -24.61% | -1.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.75% | — |
Current DrawdownCurrent decline from peak | -7.12% | -1.84% | -5.28% |
Average DrawdownAverage peak-to-trough decline | -6.30% | -3.89% | -2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 1.65% | +1.77% |
Volatility
PAVE vs. QYLD - Volatility Comparison
Global X US Infrastructure Development ETF (PAVE) has a higher volatility of 7.82% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 4.90%. This indicates that PAVE's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAVE | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.82% | 4.90% | +2.92% |
Volatility (6M)Calculated over the trailing 6-month period | 14.05% | 7.50% | +6.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.45% | 16.43% | +6.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.43% | 14.84% | +6.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.41% | 15.51% | +8.90% |