TOLZ vs. HVAC

Last updated Jun 23, 2026

TOLZ (ProShares DJ Brookfield Global Infrastructure ETF) and HVAC (AdvisorShares HVAC and Industrials ETF) are both Industrials Equities funds. TOLZ is passively managed, while HVAC is actively managed. Over the past year, TOLZ returned 16.22% vs 62.74% for HVAC. At a 0.27 correlation, their price movements are largely independent. TOLZ charges 0.46%/yr vs 1.00%/yr for HVAC.

Performance

TOLZ vs. HVAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) and AdvisorShares HVAC and Industrials ETF (HVAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOLZ achieves a 11.11% return, which is significantly lower than HVAC's 39.55% return.

TOLZ

• 1D: 0.45%
• 1M: -3.18%
• YTD: 11.11%
• 6M: 12.03%
• 1Y: 16.22%
• 3Y*: 14.79%
• 5Y*: 8.61%
• 10Y*: 7.84%

HVAC

• 1D: 2.59%
• 1M: 9.02%
• YTD: 39.55%
• 6M: 36.71%
• 1Y: 62.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOLZ vs. HVAC - Yearly Performance Comparison

	2026 (YTD)	2025
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	11.11%	13.78%
HVAC AdvisorShares HVAC and Industrials ETF	39.55%	23.15%

Correlation

The correlation between TOLZ and HVAC is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.27

TOLZ vs. HVAC - Sectors Allocation Comparison

Sectors	TOLZ	HVAC
Energy	36.0%	-
Utilities	22.2%	3.0%
Real Estate	7.9%	2.8%
Industrials	5.1%	69.4%
Consumer Defensive	4.4%	-
Financial Services	1.9%	-
Consumer Cyclical	0.8%	4.6%
Technology	0.4%	20.2%
Basic Materials	-	-
Communication Services	-	-
Healthcare	-	-

Return for Risk

TOLZ vs. HVAC — Risk / Return Rank

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

TOLZ

TOLZ Risk / Return Rank: 51
TOLZ Sharpe Ratio Rank: 46
TOLZ Sortino Ratio Rank: 46
TOLZ Omega Ratio Rank: 43
TOLZ Calmar Ratio Rank: 65
TOLZ Martin Ratio Rank: 54

HVAC

HVAC Risk / Return Rank: 70
HVAC Sharpe Ratio Rank: 70
HVAC Sortino Ratio Rank: 59
HVAC Omega Ratio Rank: 60
HVAC Calmar Ratio Rank: 83
HVAC Martin Ratio Rank: 78

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.

TOLZ vs. HVAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) and AdvisorShares HVAC and Industrials ETF (HVAC). 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.

	TOLZ	HVAC	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.18	-0.61
Sortino ratio: Return per unit of downside risk	2.25	2.70	-0.44
Omega ratio: Gain probability vs. loss probability	1.27	1.36	-0.09
Calmar ratio: Return relative to maximum drawdown	3.15	4.25	-1.10
Martin ratio: Return relative to average drawdown	9.12	14.41	-5.28

TOLZ vs. HVAC - Sharpe Ratio Comparison

The current TOLZ Sharpe Ratio is 1.57, which is comparable to the HVAC Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of TOLZ and HVAC, 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

TOLZ vs. HVAC - Drawdown Comparison

The maximum TOLZ drawdown since its inception was -39.33%, which is greater than HVAC's maximum drawdown of -21.22%. Use the drawdown chart below to compare losses from any high point for TOLZ and HVAC.

Drawdown Indicators

	TOLZ	HVAC	Difference
Max Drawdown Largest peak-to-trough decline	-39.33%	-21.22%	-18.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-14.83%	+9.65%
Max Drawdown (3Y) Largest decline over 3 years	-11.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.33%	—	—
Current Drawdown Current decline from peak	-3.30%	0.00%	-3.30%
Average Drawdown Average peak-to-trough decline	-6.61%	-3.98%	-2.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	4.37%	-2.59%

Volatility

TOLZ vs. HVAC - Volatility Comparison

The current volatility for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) is 3.17%, while AdvisorShares HVAC and Industrials ETF (HVAC) has a volatility of 11.32%. This indicates that TOLZ experiences smaller price fluctuations and is considered to be less risky than HVAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOLZ	HVAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	11.32%	-8.15%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	24.03%	-15.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	28.99%	-18.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.98%	30.05%	-16.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.26%	30.05%	-13.79%

TOLZ vs. HVAC - Expense Ratio Comparison

TOLZ has a 0.46% expense ratio, which is lower than HVAC's 1.00% expense ratio.

Dividends

TOLZ vs. HVAC - Dividend Comparison

TOLZ's dividend yield for the trailing twelve months is around 3.67%, more than HVAC's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HVAC AdvisorShares HVAC and Industrials ETF	0.14%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	3.67%	3.99%	3.53%	3.34%	3.01%	3.28%	3.16%	2.96%	3.63%	3.30%	2.62%	3.67%

Frequently Asked Questions

Can I hold both TOLZ and HVAC in my portfolio?

TOLZ and HVAC have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOLZ or HVAC?

HVAC has higher volatility (11.32%) compared to TOLZ (3.17%). In terms of maximum drawdown, TOLZ dropped -39.33% vs HVAC's -21.22%.

Which ETF is better, TOLZ or HVAC?

On 1-year performance, HVAC leads with 62.74% vs 16.22% for TOLZ. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOLZ or HVAC?

Over the 1-year period, HVAC has performed better with a 62.74% return vs 16.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOLZ or HVAC?

TOLZ is cheaper with a 0.46% expense ratio, compared with 1.00% for HVAC.

Which ETF pays a higher dividend yield, TOLZ or HVAC?

TOLZ has the higher dividend yield at 3.67%, compared with 0.14% for HVAC.

What is the main difference between TOLZ and HVAC?

They also come from different issuers: ProShares and AdvisorShares. Their fees differ too: 0.46% for TOLZ and 1.00% for HVAC.

Which has better risk-adjusted returns?

HVAC currently has the higher Sharpe Ratio (2.18 vs 1.57), 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.