VAW vs. PAVE
Compare and contrast key facts about Vanguard Materials ETF (VAW) and Global X US Infrastructure Development ETF (PAVE).
VAW and PAVE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VAW is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Materials 25/50 Index. It was launched on Jan 26, 2004. 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. Both VAW and PAVE 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: VAW or PAVE.
Key characteristics
| VAW | PAVE | |
|---|---|---|
| YTD Return | 10.41% | 19.00% |
| 1Y Return | 23.40% | 35.55% |
| 3Y Return (Ann) | 7.30% | 17.08% |
| 5Y Return (Ann) | 13.23% | 22.10% |
| Sharpe Ratio | 1.56 | 1.98 |
| Sortino Ratio | 2.16 | 2.61 |
| Omega Ratio | 1.27 | 1.33 |
| Calmar Ratio | 1.47 | 2.71 |
| Martin Ratio | 7.70 | 9.65 |
| Ulcer Index | 3.06% | 3.75% |
| Daily Std Dev | 15.12% | 18.32% |
| Max Drawdown | -62.17% | -44.08% |
| Current Drawdown | -2.61% | -0.58% |
Correlation
The correlation between VAW and PAVE is 0.89, 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
VAW vs. PAVE - Performance Comparison
In the year-to-date period, VAW achieves a 10.41% return, which is significantly lower than PAVE's 19.00% 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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VAW vs. PAVE - Expense Ratio Comparison
VAW has a 0.10% expense ratio, which is lower than PAVE's 0.47% expense ratio.
Risk-Adjusted Performance
VAW vs. PAVE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Materials ETF (VAW) 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.
Dividends
VAW vs. PAVE - Dividend Comparison
VAW's dividend yield for the trailing twelve months is around 1.56%, more than PAVE's 0.58% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VAW Vanguard Materials ETF | 1.56% | 1.72% | 1.98% | 1.44% | 1.67% | 1.94% | 2.03% | 1.63% | 1.67% | 2.30% | 1.76% | 1.84% |
PAVE Global X US Infrastructure Development ETF | 0.58% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VAW vs. PAVE - Drawdown Comparison
The maximum VAW drawdown since its inception was -62.17%, which is greater than PAVE's maximum drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for VAW and PAVE. For additional features, visit the drawdowns tool.
Volatility
VAW vs. PAVE - Volatility Comparison
Vanguard Materials ETF (VAW) and Global X US Infrastructure Development ETF (PAVE) have volatilities of 3.94% and 3.89%, 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.