QQQ vs. PAVE

Last updated Jun 20, 2026

QQQ (Invesco QQQ ETF) and PAVE (Global X US Infrastructure Development ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while PAVE is a Industrials Equities fund tracking the INDXX U.S. Infrastructure Development Index. Both are passively managed. Over the past 5 years, QQQ returned 17.37%/yr vs 19.69%/yr for PAVE. A 0.61 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.47%/yr for PAVE.

Performance

QQQ vs. PAVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) 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, QQQ achieves a 20.71% return, which is significantly lower than PAVE's 22.54% return.

QQQ

• 1D: 2.51%
• 1M: 3.65%
• YTD: 20.71%
• 6M: 20.33%
• 1Y: 41.26%
• 3Y*: 27.01%
• 5Y*: 17.37%
• 10Y*: 22.17%

PAVE

• 1D: 1.00%
• 1M: 7.37%
• YTD: 22.54%
• 6M: 21.41%
• 1Y: 40.83%
• 3Y*: 25.63%
• 5Y*: 19.69%
• 10Y*: —

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

QQQ vs. PAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	20.71%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	20.44%
PAVE Global X US Infrastructure Development ETF	22.54%	19.36%	17.92%	31.01%	-7.17%	36.42%	19.72%	33.26%	-19.15%	13.41%

Correlation

The correlation between QQQ and PAVE is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 8, 2017	0.61

The correlation between QQQ and PAVE shifts across timeframes, from 0.55 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

QQQ vs. PAVE - Sectors Allocation Comparison

Sectors	QQQ	PAVE
Technology	58.7%	1.0%
Communication Services	14.3%	-
Consumer Cyclical	11.4%	-
Consumer Defensive	6.4%	0.3%
Healthcare	3.7%	-
Industrials	2.6%	75.1%
Utilities	1.2%	3.2%
Basic Materials	1.0%	20.1%
Energy	0.5%	0.3%
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

QQQ vs. PAVE — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 77
QQQ Sortino Ratio Rank: 71
QQQ Omega Ratio Rank: 73
QQQ Calmar Ratio Rank: 71
QQQ Martin Ratio Rank: 72

PAVE

PAVE Risk / Return Rank: 67
PAVE Sharpe Ratio Rank: 67
PAVE Sortino Ratio Rank: 68
PAVE Omega Ratio Rank: 60
PAVE Calmar Ratio Rank: 71
PAVE Martin Ratio Rank: 70

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.

QQQ vs. PAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) 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.

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.

	QQQ	PAVE	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.09	+0.22
Sortino ratio: Return per unit of downside risk	3.01	2.92	+0.10
Omega ratio: Gain probability vs. loss probability	1.41	1.35	+0.06
Calmar ratio: Return relative to maximum drawdown	3.42	3.41	0.00
Martin ratio: Return relative to average drawdown	12.72	12.43	+0.29

QQQ vs. PAVE - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.32, which is comparable to the PAVE Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of QQQ 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.

Drawdowns

QQQ vs. PAVE - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than PAVE's maximum drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for QQQ and PAVE.

Drawdown Indicators

	QQQ	PAVE	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-44.08%	-38.89%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-11.91%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-26.23%	+3.46%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-26.23%	-8.89%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	—	—
Current Drawdown Current decline from peak	-0.74%	0.00%	-0.74%
Average Drawdown Average peak-to-trough decline	-32.73%	-6.22%	-26.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	3.27%	-0.06%

Volatility

QQQ vs. PAVE - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 8.58% compared to Global X US Infrastructure Development ETF (PAVE) at 6.43%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than PAVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	PAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	6.43%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	14.34%	15.79%	-1.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	19.44%	-1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.63%	21.65%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.42%	24.39%	-1.97%

QQQ vs. PAVE - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than PAVE's 0.47% expense ratio.

Dividends

QQQ vs. PAVE - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.38%, less than PAVE's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAVE Global X US Infrastructure Development ETF	0.75%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both QQQ and PAVE in my portfolio?

QQQ and PAVE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQ or PAVE?

QQQ has higher volatility (8.58%) compared to PAVE (6.43%). In terms of maximum drawdown, QQQ dropped -82.97% vs PAVE's -44.08%.

Which ETF is better, QQQ or PAVE?

On 5-year performance, PAVE leads with 19.69% vs 17.37% for QQQ. On fees, QQQ is cheaper at 0.18% per year. On volatility, PAVE has been the lower-risk option at 6.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQ or PAVE?

Over the 5-year period, PAVE has performed better with a 19.69% return vs 17.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQ or PAVE?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.47% for PAVE.

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

PAVE has the higher dividend yield at 0.75%, compared with 0.38% for QQQ.

What is the main difference between QQQ and PAVE?

QQQ is categorized as Nasdaq-100, while PAVE is Industrials Equities. QQQ tracks NASDAQ-100 Index, while PAVE tracks INDXX U.S. Infrastructure Development Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.18% for QQQ and 0.47% for PAVE.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.32 vs 2.09), 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.