POWR vs. PAVE

Last updated Jun 6, 2026

POWR (iShares U.S. Power Infrastructure ETF) and PAVE (Global X US Infrastructure Development ETF) are both exchange-traded funds - POWR is a Utilities Equities fund actively managed by iShares, while PAVE is a Industrials Equities fund tracking the INDXX U.S. Infrastructure Development Index. POWR is actively managed, while PAVE is passively managed. Over the past 5 years, POWR returned 14.67%/yr vs 17.14%/yr for PAVE. A 0.57 correlation means they provide meaningful diversification when combined. POWR charges 0.40%/yr vs 0.47%/yr for PAVE.

Performance

POWR vs. PAVE - Performance Comparison

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

Returns By Period

In the year-to-date period, POWR achieves a 16.01% return, which is significantly lower than PAVE's 18.60% return.

POWR

• 1D: -2.23%
• 1M: -3.34%
• YTD: 16.01%
• 6M: 13.05%
• 1Y: 28.14%
• 3Y*: 11.45%
• 5Y*: 14.67%
• 10Y*: 8.00%

PAVE

• 1D: -1.61%
• 1M: -2.86%
• YTD: 18.60%
• 6M: 17.73%
• 1Y: 35.53%
• 3Y*: 26.00%
• 5Y*: 17.14%
• 10Y*: —

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

POWR vs. PAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
POWR iShares U.S. Power Infrastructure ETF	16.01%	10.81%	-1.30%	3.66%	42.54%	42.03%	-28.30%	8.44%	-11.74%	17.17%
PAVE Global X US Infrastructure Development ETF	18.60%	19.36%	17.92%	31.01%	-7.17%	36.42%	19.72%	33.26%	-19.15%	14.11%

Correlation

The correlation between POWR and PAVE is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.57

The correlation between POWR and PAVE shifts across timeframes, from 0.46 (3 years) to 0.57 (all time), reflecting how their relationship changes across market environments.

POWR vs. PAVE - Sectors Allocation Comparison

Sectors	POWR	PAVE
Utilities	52.8%	3.2%
Industrials	26.6%	74.8%
Energy	17.3%	0.2%
Technology	2.9%	1.1%
Basic Materials	1.0%	20.3%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	0.3%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

POWR vs. PAVE — Risk / Return Rank

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

POWR

POWR Risk / Return Rank: 60
POWR Sharpe Ratio Rank: 51
POWR Sortino Ratio Rank: 49
POWR Omega Ratio Rank: 47
POWR Calmar Ratio Rank: 86
POWR Martin Ratio Rank: 67

PAVE

PAVE Risk / Return Rank: 59
PAVE Sharpe Ratio Rank: 57
PAVE Sortino Ratio Rank: 59
PAVE Omega Ratio Rank: 52
PAVE Calmar Ratio Rank: 62
PAVE Martin Ratio Rank: 63

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.

POWR vs. PAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Power Infrastructure ETF (POWR) and Global X US Infrastructure Development ETF (PAVE). 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.

	POWR	PAVE	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.89	-0.20
Sortino ratio: Return per unit of downside risk	2.34	2.69	-0.36
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	4.72	3.00	+1.73
Martin ratio: Return relative to average drawdown	11.82	10.98	+0.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

POWR vs. PAVE - Sharpe Ratio Comparison

The current POWR Sharpe Ratio is 1.69, which is comparable to the PAVE Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of POWR and PAVE, 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

	POWR	PAVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	1.89	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.80	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.68	-0.50

Drawdowns

POWR vs. PAVE - Drawdown Comparison

The maximum POWR drawdown since its inception was -65.98%, which is greater than PAVE's maximum drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for POWR and PAVE.

Drawdown Indicators

	POWR	PAVE	Difference
Max Drawdown Largest peak-to-trough decline	-65.98%	-44.08%	-21.90%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	-11.91%	+5.93%
Max Drawdown (3Y) Largest decline over 3 years	-23.14%	-26.23%	+3.09%
Max Drawdown (5Y) Largest decline over 5 years	-25.09%	-26.23%	+1.14%
Max Drawdown (10Y) Largest decline over 10 years	-63.42%	—	—
Current Drawdown Current decline from peak	-3.54%	-2.86%	-0.68%
Average Drawdown Average peak-to-trough decline	-18.14%	-6.24%	-11.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	3.25%	-0.86%

Volatility

POWR vs. PAVE - Volatility Comparison

iShares U.S. Power Infrastructure ETF (POWR) and Global X US Infrastructure Development ETF (PAVE) have volatilities of 6.17% and 6.05%, 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

	POWR	PAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.17%	6.05%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	12.56%	15.24%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	18.88%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.09%	21.60%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.62%	24.38%	+1.24%

POWR vs. PAVE - Expense Ratio Comparison

POWR has a 0.40% expense ratio, which is lower than PAVE's 0.47% expense ratio.

Dividends

POWR vs. PAVE - Dividend Comparison

POWR's dividend yield for the trailing twelve months is around 6.82%, more than PAVE's 0.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAVE Global X US Infrastructure Development ETF	0.77%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%	0.00%	0.00%
POWR iShares U.S. Power Infrastructure ETF	6.82%	7.56%	4.36%	4.16%	4.82%	3.94%	3.96%	5.71%	3.17%	3.11%	2.75%	3.42%

Frequently Asked Questions

Can I hold both POWR and PAVE in my portfolio?

POWR and PAVE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POWR or PAVE?

POWR has higher volatility (6.17%) compared to PAVE (6.05%). In terms of maximum drawdown, POWR dropped -65.98% vs PAVE's -44.08%.

Which ETF is better, POWR or PAVE?

On 5-year performance, PAVE leads with 17.14% vs 14.67% for POWR. On fees, POWR is cheaper at 0.40% per year. On volatility, PAVE has been the lower-risk option at 6.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, POWR or PAVE?

Over the 5-year period, PAVE has performed better with a 17.14% return vs 14.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, POWR or PAVE?

POWR is cheaper with a 0.40% expense ratio, compared with 0.47% for PAVE.

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

POWR has the higher dividend yield at 6.82%, compared with 0.77% for PAVE.

What is the main difference between POWR and PAVE?

POWR is categorized as Utilities Equities, while PAVE is Industrials Equities. They also come from different issuers: iShares and Global X. Their fees differ too: 0.40% for POWR and 0.47% for PAVE.

Which has better risk-adjusted returns?

PAVE currently has the higher Sharpe Ratio (1.89 vs 1.69), 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.