PAVE vs. USNG

Last updated Aug 5, 2026

PAVE (Global X US Infrastructure Development ETF) and USNG (Amplify Samsung U.S. Natural Gas Infrastructure ETF) are both Infrastructure Equities funds. PAVE is passively managed, while USNG is actively managed. Over the past year, PAVE returned 30.13% vs 32.54% for USNG. Their 0.41 correlation means their historical movements had little consistent relationship. PAVE charges 0.47%/yr vs 0.59%/yr for USNG.

Performance

PAVE vs. USNG - Performance Comparison

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

Returns By Period

In the year-to-date period, PAVE achieves a 22.79% return, which is significantly lower than USNG's 25.88% return.

PAVE

• 1D: 1.81%
• 1M: 2.50%
• 6M: 12.01%
• YTD: 22.79%
• 1Y: 30.13%
• 3Y*: 23.17%
• 5Y*: 18.19%
• 10Y*: —
• ALL TIME*: 16.46%

USNG

• 1D: 0.36%
• 1M: -2.88%
• 6M: 14.12%
• YTD: 25.88%
• 1Y: 32.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PAVE Global X US Infrastructure Development ETF	$108.37M	$122.49M	$109.59M
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF	$451.39K	$278.34K	$160.71K

PAVE vs. USNG - Yearly Performance Comparison

	2026 (YTD)	2025
PAVE Global X US Infrastructure Development ETF	22.79%	13.90%
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF	25.88%	10.51%

Correlation

The correlation between PAVE and USNG is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (All Time) Calculated using the full available price history since May 20, 2025	0.41

PAVE vs. USNG - Sectors Allocation Comparison

Sectors	PAVE	USNG
Industrials	72.3%	7.7%
Basic Materials	22.1%	1.5%
Utilities	3.5%	5.2%
Technology	1.9%	-
Consumer Defensive	0.3%	-
Energy	0.2%	80.9%
Communication Services	-	-
Consumer Cyclical	-	-
Financial Services	-	4.7%
Healthcare	-	-
Real Estate	-	-

Return for Risk

PAVE vs. USNG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PAVE

PAVE Risk / Return Rank: 57
PAVE Sharpe Ratio Rank: 53
PAVE Sortino Ratio Rank: 53
PAVE Omega Ratio Rank: 49
PAVE Calmar Ratio Rank: 65
PAVE Martin Ratio Rank: 62

USNG

USNG Risk / Return Rank: 74
USNG Sharpe Ratio Rank: 76
USNG Sortino Ratio Rank: 74
USNG Omega Ratio Rank: 69
USNG Calmar Ratio Rank: 72
USNG Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PAVE vs. USNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG). 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	USNG	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.87	-0.40
Sortino ratio: Return per unit of downside risk	2.11	2.61	-0.50
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.06
Calmar ratio: Return relative to maximum drawdown	2.54	2.74	-0.20
Martin ratio: Return relative to average drawdown	8.33	10.99	-2.66

PAVE vs. USNG - Sharpe Ratio Comparison

The current PAVE Sharpe Ratio is 1.48, which is comparable to the USNG Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of PAVE and USNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PAVE vs. USNG - Drawdown Comparison

The maximum PAVE drawdown since its inception was -44.08%, which is greater than USNG's maximum drawdown of -11.93%. Use the drawdown chart below to compare losses from any high point for PAVE and USNG.

Drawdown Indicators

	PAVE	USNG	Difference
Max Drawdown Largest peak-to-trough decline	-44.08%	-11.93%	-32.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.91%	-11.93%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-26.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.23%	—	—
Current Drawdown Current decline from peak	-2.18%	-8.15%	+5.97%
Average Drawdown Average peak-to-trough decline	-6.19%	-1.87%	-4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	2.97%	+0.66%

Volatility

PAVE vs. USNG - Volatility Comparison

Global X US Infrastructure Development ETF (PAVE) and Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG) have volatilities of 6.54% and 6.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAVE	USNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	6.41%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	16.73%	13.83%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	20.50%	17.48%	+3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.72%	17.27%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.38%	17.27%	+7.11%

PAVE vs. USNG - Expense Ratio Comparison

PAVE has a 0.47% expense ratio, which is lower than USNG's 0.59% expense ratio.

Dividends

PAVE vs. USNG - Dividend Comparison

PAVE's dividend yield for the trailing twelve months is around 0.74%, less than USNG's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAVE Global X US Infrastructure Development ETF	0.74%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF	1.53%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAVE and USNG in my portfolio?

PAVE and USNG have a correlation of 0.43, 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 USNG?

PAVE has higher volatility (6.54%) compared to USNG (6.41%). In terms of maximum drawdown, PAVE dropped -44.08% vs USNG's -11.93%.

Which ETF is better, PAVE or USNG?

On 1-year performance, USNG leads with 32.54% vs 30.13% for PAVE. On fees, PAVE is cheaper at 0.47% per year. On volatility, USNG has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAVE or USNG?

Over the 1-year period, USNG has performed better with a 32.54% return vs 30.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAVE or USNG?

PAVE is cheaper with a 0.47% expense ratio, compared with 0.59% for USNG.

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

USNG has the higher dividend yield at 1.53%, compared with 0.74% for PAVE.

What is the main difference between PAVE and USNG?

They also come from different issuers: Global X and Amplify. Their fees differ too: 0.47% for PAVE and 0.59% for USNG.

Which has better risk-adjusted returns?

USNG currently has the higher Sharpe Ratio (1.87 vs 1.48), 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.