PSCU vs. PAVE

Last updated Jun 4, 2026

PSCU (Invesco S&P SmallCap Utilities & Communication Services ETF) and PAVE (Global X US Infrastructure Development ETF) are both Utilities Equities funds - PSCU tracks the S&P SmallCap 600 Capped Utilities & Communication Services Index while PAVE tracks the INDXX U.S. Infrastructure Development Index. Both are passively managed. Over the past 5 years, PSCU returned 0.96%/yr vs 17.39%/yr for PAVE. A 0.61 correlation means they provide meaningful diversification when combined. PSCU charges 0.29%/yr vs 0.47%/yr for PAVE.

Performance

PSCU vs. PAVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU) 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, PSCU achieves a 12.29% return, which is significantly lower than PAVE's 19.88% return.

PSCU

• 1D: -2.32%
• 1M: -2.43%
• YTD: 12.29%
• 6M: 10.22%
• 1Y: 18.43%
• 3Y*: 6.90%
• 5Y*: 0.96%
• 10Y*: 5.81%

PAVE

• 1D: 0.70%
• 1M: 1.96%
• YTD: 19.88%
• 6M: 18.87%
• 1Y: 37.15%
• 3Y*: 26.78%
• 5Y*: 17.39%
• 10Y*: —

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

PSCU vs. PAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSCU Invesco S&P SmallCap Utilities & Communication Services ETF	12.29%	-1.93%	10.68%	2.12%	-19.73%	30.12%	3.80%	9.67%	-4.80%	16.74%
PAVE Global X US Infrastructure Development ETF	19.88%	19.36%	17.92%	31.01%	-7.17%	36.42%	19.72%	33.26%	-19.15%	14.11%

Correlation

The correlation between PSCU and PAVE is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.61

The correlation between PSCU and PAVE shifts across timeframes, from 0.54 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

PSCU vs. PAVE - Sectors Allocation Comparison

Sectors	PSCU	PAVE
Communication Services	56.7%	-
Utilities	31.9%	3.2%
Consumer Cyclical	4.1%	-
Industrials	3.6%	74.8%
Real Estate	2.0%	-
Technology	1.6%	1.1%
Financial Services	0.0%	-
Basic Materials	-	20.3%
Consumer Defensive	-	0.3%
Energy	-	0.2%
Healthcare	-	-

Return for Risk

PSCU vs. PAVE — Risk / Return Rank

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

PSCU

PSCU Risk / Return Rank: 35
PSCU Sharpe Ratio Rank: 33
PSCU Sortino Ratio Rank: 32
PSCU Omega Ratio Rank: 29
PSCU Calmar Ratio Rank: 46
PSCU Martin Ratio Rank: 37

PAVE

PAVE Risk / Return Rank: 59
PAVE Sharpe Ratio Rank: 57
PAVE Sortino Ratio Rank: 58
PAVE Omega Ratio Rank: 53
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.

PSCU vs. PAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU) 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.

	PSCU	PAVE	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.99	-0.81
Sortino ratio: Return per unit of downside risk	1.72	2.82	-1.10
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.14
Calmar ratio: Return relative to maximum drawdown	2.22	3.13	-0.91
Martin ratio: Return relative to average drawdown	5.64	11.50	-5.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSCU vs. PAVE - Sharpe Ratio Comparison

The current PSCU Sharpe Ratio is 1.17, which is lower than the PAVE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of PSCU 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

	PSCU	PAVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	1.99	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.81	-0.76
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.68	-0.21

Drawdowns

PSCU vs. PAVE - Drawdown Comparison

The maximum PSCU drawdown since its inception was -29.97%, smaller than the maximum PAVE drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for PSCU and PAVE.

Drawdown Indicators

	PSCU	PAVE	Difference
Max Drawdown Largest peak-to-trough decline	-29.97%	-44.08%	+14.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.32%	-11.91%	+3.59%
Max Drawdown (3Y) Largest decline over 3 years	-23.55%	-26.23%	+2.68%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-26.23%	-3.74%
Max Drawdown (10Y) Largest decline over 10 years	-29.97%	—	—
Current Drawdown Current decline from peak	-3.46%	-1.82%	-1.64%
Average Drawdown Average peak-to-trough decline	-7.67%	-6.24%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	3.24%	+0.04%

Volatility

PSCU vs. PAVE - Volatility Comparison

The current volatility for Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU) is 5.04%, while Global X US Infrastructure Development ETF (PAVE) has a volatility of 6.42%. This indicates that PSCU experiences smaller price fluctuations and is considered to be less risky than PAVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCU	PAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	6.42%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	15.17%	-4.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	18.84%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	21.60%	-3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.47%	24.38%	-4.91%

PSCU vs. PAVE - Expense Ratio Comparison

PSCU has a 0.29% expense ratio, which is lower than PAVE's 0.47% expense ratio.

Dividends

PSCU vs. PAVE - Dividend Comparison

PSCU's dividend yield for the trailing twelve months is around 0.99%, 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%
PSCU Invesco S&P SmallCap Utilities & Communication Services ETF	0.99%	1.10%	0.98%	1.60%	1.71%	2.69%	1.20%	2.47%	2.35%	1.84%	6.93%	2.94%

Frequently Asked Questions

Can I hold both PSCU and PAVE in my portfolio?

PSCU and PAVE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCU or PAVE?

PAVE has higher volatility (6.42%) compared to PSCU (5.04%). In terms of maximum drawdown, PSCU dropped -29.97% vs PAVE's -44.08%.

Which ETF is better, PSCU or PAVE?

On 5-year performance, PAVE leads with 17.39% vs 0.96% for PSCU. On fees, PSCU is cheaper at 0.29% per year. On volatility, PSCU has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCU or PAVE?

Over the 5-year period, PAVE has performed better with a 17.39% return vs 0.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCU or PAVE?

PSCU is cheaper with a 0.29% expense ratio, compared with 0.47% for PAVE.

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

PSCU has the higher dividend yield at 0.99%, compared with 0.77% for PAVE.

What is the main difference between PSCU and PAVE?

PSCU tracks S&P SmallCap 600 Capped Utilities & Communication Services Index, while PAVE tracks INDXX U.S. Infrastructure Development Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.29% for PSCU and 0.47% for PAVE.

Which has better risk-adjusted returns?

PAVE currently has the higher Sharpe Ratio (1.99 vs 1.17), 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.