PAVE vs. XLI
Compare and contrast key facts about Global X US Infrastructure Development ETF (PAVE) and Industrial Select Sector SPDR Fund (XLI).
PAVE and XLI 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. XLI is a passively managed fund by State Street that tracks the performance of the Industrial Select Sector Index. It was launched on Dec 16, 1998. Both PAVE and XLI 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 XLI.
Key characteristics
| PAVE | XLI | |
|---|---|---|
| YTD Return | 8.53% | 6.67% |
| 1Y Return | 36.17% | 23.89% |
| 3Y Return (Ann) | 13.96% | 7.67% |
| 5Y Return (Ann) | 18.54% | 11.02% |
| Sharpe Ratio | 2.14 | 1.76 |
| Daily Std Dev | 16.68% | 12.85% |
| Max Drawdown | -44.08% | -62.26% |
| Current Drawdown | -6.05% | -3.76% |
Correlation
The correlation between PAVE and XLI is 0.92, 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.
Performance
PAVE vs. XLI - Performance Comparison
In the year-to-date period, PAVE achieves a 8.53% return, which is significantly higher than XLI's 6.67% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PAVE vs. XLI - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is higher than XLI's 0.13% expense ratio.
Risk-Adjusted Performance
PAVE vs. XLI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and Industrial Select Sector SPDR Fund (XLI). 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. XLI - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.63%, less than XLI's 1.52% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 0.63% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% |
XLI Industrial Select Sector SPDR Fund | 1.52% | 1.63% | 1.63% | 1.25% | 1.55% | 1.94% | 2.15% | 1.77% | 2.07% | 2.15% | 1.85% | 1.68% |
Drawdowns
PAVE vs. XLI - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for PAVE and XLI. For additional features, visit the drawdowns tool.
Volatility
PAVE vs. XLI - Volatility Comparison
Global X US Infrastructure Development ETF (PAVE) has a higher volatility of 4.22% compared to Industrial Select Sector SPDR Fund (XLI) at 3.54%. This indicates that PAVE's price experiences larger fluctuations and is considered to be riskier than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.