PAVE vs. SCHD

Last updated Jun 9, 2026

PAVE (Global X US Infrastructure Development ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - PAVE is a Industrials Equities fund tracking the INDXX U.S. Infrastructure Development Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 5 years, PAVE returned 17.22%/yr vs 8.49%/yr for SCHD. A 0.79 correlation means they provide meaningful diversification when combined. PAVE charges 0.47%/yr vs 0.06%/yr for SCHD.

Performance

PAVE vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X US Infrastructure Development ETF (PAVE) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PAVE having a 18.25% return and SCHD slightly higher at 18.71%.

PAVE

• 1D: -0.30%
• 1M: -0.49%
• YTD: 18.25%
• 6M: 17.47%
• 1Y: 33.79%
• 3Y*: 25.22%
• 5Y*: 17.22%
• 10Y*: —

SCHD

• 1D: -0.03%
• 1M: 2.12%
• YTD: 18.71%
• 6M: 19.28%
• 1Y: 26.37%
• 3Y*: 14.73%
• 5Y*: 8.49%
• 10Y*: 12.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PAVE vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAVE Global X US Infrastructure Development ETF	18.25%	19.36%	17.92%	31.01%	-7.17%	36.42%	19.72%	33.26%	-19.15%	13.41%
SCHD Schwab U.S. Dividend Equity ETF	18.71%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	17.27%

Correlation

The correlation between PAVE and SCHD is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 8, 2017	0.79

Over the past year, the correlation between PAVE and SCHD has dropped to 0.55 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

PAVE vs. SCHD - Sectors Allocation Comparison

Sectors	PAVE	SCHD
Industrials	74.8%	7.5%
Basic Materials	20.3%	1.2%
Utilities	3.2%	0.0%
Technology	1.1%	16.4%
Consumer Defensive	0.3%	19.2%
Energy	0.2%	16.2%
Communication Services	-	6.3%
Consumer Cyclical	-	6.3%
Financial Services	-	9.3%
Healthcare	-	18.8%
Real Estate	-	-

Return for Risk

PAVE vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAVE

PAVE Risk / Return Rank: 60
PAVE Sharpe Ratio Rank: 59
PAVE Sortino Ratio Rank: 62
PAVE Omega Ratio Rank: 54
PAVE Calmar Ratio Rank: 63
PAVE Martin Ratio Rank: 63

SCHD

SCHD Risk / Return Rank: 85
SCHD Sharpe Ratio Rank: 83
SCHD Sortino Ratio Rank: 89
SCHD Omega Ratio Rank: 81
SCHD Calmar Ratio Rank: 92
SCHD Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PAVE vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and Schwab U.S. Dividend Equity ETF (SCHD). 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	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.80	2.43	-0.63
Sortino ratio: Return per unit of downside risk	2.58	3.75	-1.17
Omega ratio: Gain probability vs. loss probability	1.30	1.43	-0.13
Calmar ratio: Return relative to maximum drawdown	2.85	5.74	-2.89
Martin ratio: Return relative to average drawdown	10.42	14.06	-3.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAVE vs. SCHD - Sharpe Ratio Comparison

The current PAVE Sharpe Ratio is 1.80, which is comparable to the SCHD Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of PAVE and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PAVE	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	2.43	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.59	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.86	-0.19

Drawdowns

PAVE vs. SCHD - Drawdown Comparison

The maximum PAVE drawdown since its inception was -44.08%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for PAVE and SCHD.

Drawdown Indicators

	PAVE	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-44.08%	-33.37%	-10.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.91%	-4.61%	-7.30%
Max Drawdown (3Y) Largest decline over 3 years	-26.23%	-16.13%	-10.10%
Max Drawdown (5Y) Largest decline over 5 years	-26.23%	-16.85%	-9.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-3.15%	-1.64%	-1.51%
Average Drawdown Average peak-to-trough decline	-6.23%	-3.32%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	1.88%	+1.37%

Volatility

PAVE vs. SCHD - Volatility Comparison

Global X US Infrastructure Development ETF (PAVE) has a higher volatility of 5.44% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.83%. This indicates that PAVE's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAVE	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	2.83%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	15.24%	7.60%	+7.64%
Volatility (1Y) Calculated over the trailing 1-year period	18.90%	10.94%	+7.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.61%	14.38%	+7.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.38%	16.72%	+7.66%

PAVE vs. SCHD - Expense Ratio Comparison

PAVE has a 0.47% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

PAVE vs. SCHD - Dividend Comparison

PAVE's dividend yield for the trailing twelve months is around 0.78%, less than SCHD's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAVE Global X US Infrastructure Development ETF	0.78%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.27%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both PAVE and SCHD in my portfolio?

PAVE and SCHD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAVE or SCHD?

PAVE has higher volatility (5.44%) compared to SCHD (2.83%). In terms of maximum drawdown, PAVE dropped -44.08% vs SCHD's -33.37%.

Which ETF is better, PAVE or SCHD?

On 5-year performance, PAVE leads with 17.22% vs 8.49% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAVE or SCHD?

Over the 5-year period, PAVE has performed better with a 17.22% return vs 8.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAVE or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.47% for PAVE.

Which ETF pays a higher dividend yield, PAVE or SCHD?

SCHD has the higher dividend yield at 3.27%, compared with 0.78% for PAVE.

What is the main difference between PAVE and SCHD?

PAVE is categorized as Industrials Equities, while SCHD is Dividend. PAVE tracks INDXX U.S. Infrastructure Development Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Global X and Charles Schwab. Their fees differ too: 0.47% for PAVE and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.43 vs 1.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.