PAVE vs. SPTI
PAVE (Global X US Infrastructure Development ETF) and SPTI (SPDR Portfolio Intermediate Term Treasury ETF) are both exchange-traded funds - PAVE is a Industrials Equities fund tracking the INDXX U.S. Infrastructure Development Index, while SPTI is a Government Bonds fund tracking the Bloomberg 3-10 Year U.S. Treasury Bond Index. Both are passively managed. Over the past 5 years, PAVE returned 17.84%/yr vs -0.00%/yr for SPTI. At a correlation of -0.11, they often move in opposite directions. PAVE charges 0.47%/yr vs 0.06%/yr for SPTI.
Performance
PAVE vs. SPTI - Performance Comparison
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Returns By Period
In the year-to-date period, PAVE achieves a 20.86% return, which is significantly higher than SPTI's -0.31% return.
PAVE
- 1D
- 1.01%
- 1M
- 1.64%
- YTD
- 20.86%
- 6M
- 18.50%
- 1Y
- 38.94%
- 3Y*
- 25.14%
- 5Y*
- 17.84%
- 10Y*
- —
SPTI
- 1D
- -0.18%
- 1M
- 0.08%
- YTD
- -0.31%
- 6M
- 0.01%
- 1Y
- 3.39%
- 3Y*
- 3.70%
- 5Y*
- -0.00%
- 10Y*
- 1.31%
PAVE vs. SPTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 20.86% | 19.36% | 17.92% | 31.01% | -7.17% | 36.42% | 19.72% | 33.26% | -19.15% | 13.41% |
SPTI SPDR Portfolio Intermediate Term Treasury ETF | -0.31% | 7.46% | 1.32% | 4.24% | -10.65% | -2.55% | 7.70% | 6.01% | 2.27% | 1.08% |
Correlation
The correlation between PAVE and SPTI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2017 | -0.11 |
The correlation between PAVE and SPTI shifts across timeframes, from -0.11 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PAVE vs. SPTI — Risk / Return Rank
PAVE
SPTI
PAVE vs. SPTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and SPDR Portfolio Intermediate Term Treasury ETF (SPTI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAVE | SPTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 1.14 | +1.97 |
| Martin ratioReturn relative to average drawdown | 11.32 | 3.22 | +8.10 |
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Drawdowns
PAVE vs. SPTI - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, which is greater than SPTI's maximum drawdown of -16.12%. Use the drawdown chart below to compare losses from any high point for PAVE and SPTI.
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Drawdown Indicators
| PAVE | SPTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.08% | -16.12% | -27.96% |
Max Drawdown (1Y)Largest decline over 1 year | -11.91% | -2.80% | -9.11% |
Max Drawdown (3Y)Largest decline over 3 years | -26.23% | -4.35% | -21.88% |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | -15.06% | -11.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.12% | — |
Current DrawdownCurrent decline from peak | -1.01% | -2.28% | +1.27% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -2.92% | -3.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 0.99% | +2.28% |
Volatility
PAVE vs. SPTI - Volatility Comparison
Global X US Infrastructure Development ETF (PAVE) has a higher volatility of 7.35% compared to SPDR Portfolio Intermediate Term Treasury ETF (SPTI) at 1.13%. This indicates that PAVE's price experiences larger fluctuations and is considered to be riskier than SPTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAVE | SPTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.35% | 1.13% | +6.22% |
Volatility (6M)Calculated over the trailing 6-month period | 15.87% | 2.40% | +13.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.49% | 3.37% | +16.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.70% | 5.36% | +16.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.40% | 4.38% | +20.02% |
PAVE vs. SPTI - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is higher than SPTI's 0.06% expense ratio.
Dividends
PAVE vs. SPTI - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.76%, less than SPTI's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
SPTI SPDR Portfolio Intermediate Term Treasury ETF | 3.86% | 3.79% | 3.77% | 2.99% | 1.45% | 0.53% | 0.75% | 2.02% | 1.97% | 1.46% | 1.23% | 1.18% |
Frequently Asked Questions
PAVE and SPTI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAVE has higher volatility (7.35%) compared to SPTI (1.13%). In terms of maximum drawdown, PAVE dropped -44.08% vs SPTI's -16.12%.
On 5-year performance, PAVE leads with 17.84% vs -0.00% for SPTI. On fees, SPTI is cheaper at 0.06% per year. On volatility, SPTI has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PAVE has performed better with a 17.84% return vs -0.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTI is cheaper with a 0.06% expense ratio, compared with 0.47% for PAVE.
SPTI has the higher dividend yield at 3.86%, compared with 0.76% for PAVE.
PAVE is categorized as Industrials Equities, while SPTI is Government Bonds. PAVE tracks INDXX U.S. Infrastructure Development Index, while SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.47% for PAVE and 0.06% for SPTI.
PAVE currently has the higher Sharpe Ratio (1.90 vs 0.95), 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.
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