PAVE vs. VAW
Compare and contrast key facts about Global X US Infrastructure Development ETF (PAVE) and Vanguard Materials ETF (VAW).
PAVE and VAW 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. VAW is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Materials 25/50 Index. It was launched on Jan 26, 2004. Both PAVE and VAW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAVE or VAW.
Performance
PAVE vs. VAW - Performance Comparison
Returns By Period
In the year-to-date period, PAVE achieves a 30.32% return, which is significantly higher than VAW's 11.51% return.
PAVE
30.32%
7.33%
15.86%
44.49%
21.88%
N/A
VAW
11.51%
-0.97%
5.74%
20.15%
12.15%
8.60%
Key characteristics
| PAVE | VAW | |
|---|---|---|
| Sharpe Ratio | 2.39 | 1.42 |
| Sortino Ratio | 3.30 | 1.99 |
| Omega Ratio | 1.41 | 1.25 |
| Calmar Ratio | 5.21 | 2.40 |
| Martin Ratio | 13.09 | 6.67 |
| Ulcer Index | 3.43% | 3.05% |
| Daily Std Dev | 18.82% | 14.27% |
| Max Drawdown | -44.08% | -62.17% |
| Current Drawdown | -1.45% | -2.71% |
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PAVE vs. VAW - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is higher than VAW's 0.10% expense ratio.
Correlation
The correlation between PAVE and VAW is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PAVE vs. VAW - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and Vanguard Materials ETF (VAW). 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.
Dividends
PAVE vs. VAW - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.53%, less than VAW's 1.54% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 0.53% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% |
VAW Vanguard Materials ETF | 1.54% | 1.72% | 1.98% | 1.44% | 1.67% | 1.94% | 2.03% | 1.63% | 1.67% | 2.30% | 1.76% | 1.84% |
Drawdowns
PAVE vs. VAW - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, smaller than the maximum VAW drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for PAVE and VAW. For additional features, visit the drawdowns tool.
Volatility
PAVE vs. VAW - Volatility Comparison
Global X US Infrastructure Development ETF (PAVE) has a higher volatility of 7.94% compared to Vanguard Materials ETF (VAW) at 4.19%. This indicates that PAVE's price experiences larger fluctuations and is considered to be riskier than VAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.