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VAW vs. PAVE
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


VAWPAVE
YTD Return10.41%19.00%
1Y Return23.40%35.55%
3Y Return (Ann)7.30%17.08%
5Y Return (Ann)13.23%22.10%
Sharpe Ratio1.561.98
Sortino Ratio2.162.61
Omega Ratio1.271.33
Calmar Ratio1.472.71
Martin Ratio7.709.65
Ulcer Index3.06%3.75%
Daily Std Dev15.12%18.32%
Max Drawdown-62.17%-44.08%
Current Drawdown-2.61%-0.58%

Correlation

-0.50.00.51.00.9

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.


80.00%100.00%120.00%140.00%160.00%180.00%200.00%MayJuneJulyAugustSeptemberOctober
102.45%
190.58%
VAW
PAVE

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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.


PAVE
Global X US Infrastructure Development ETF
Expense ratio chart for PAVE: current value at 0.47% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.47%
Expense ratio chart for VAW: current value at 0.10% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.10%

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.


VAW
Sharpe ratio
The chart of Sharpe ratio for VAW, currently valued at 1.56, compared to the broader market0.002.004.001.56
Sortino ratio
The chart of Sortino ratio for VAW, currently valued at 2.16, compared to the broader market-2.000.002.004.006.008.0010.0012.002.16
Omega ratio
The chart of Omega ratio for VAW, currently valued at 1.27, compared to the broader market1.001.502.002.503.001.27
Calmar ratio
The chart of Calmar ratio for VAW, currently valued at 1.47, compared to the broader market0.005.0010.0015.001.47
Martin ratio
The chart of Martin ratio for VAW, currently valued at 7.70, compared to the broader market0.0020.0040.0060.0080.00100.007.70
PAVE
Sharpe ratio
The chart of Sharpe ratio for PAVE, currently valued at 1.98, compared to the broader market0.002.004.001.98
Sortino ratio
The chart of Sortino ratio for PAVE, currently valued at 2.61, compared to the broader market-2.000.002.004.006.008.0010.0012.002.61
Omega ratio
The chart of Omega ratio for PAVE, currently valued at 1.33, compared to the broader market1.001.502.002.503.001.33
Calmar ratio
The chart of Calmar ratio for PAVE, currently valued at 2.71, compared to the broader market0.005.0010.0015.002.71
Martin ratio
The chart of Martin ratio for PAVE, currently valued at 9.65, compared to the broader market0.0020.0040.0060.0080.00100.009.65

VAW vs. PAVE - Sharpe Ratio Comparison

The current VAW Sharpe Ratio is 1.56, which roughly equals the PAVE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of VAW and PAVE, offering insights into how both instruments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.00MayJuneJulyAugustSeptemberOctober
1.56
1.98
VAW
PAVE

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.


TTM20232022202120202019201820172016201520142013
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.


-8.00%-6.00%-4.00%-2.00%0.00%MayJuneJulyAugustSeptemberOctober
-2.61%
-0.58%
VAW
PAVE

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.


3.00%4.00%5.00%6.00%7.00%8.00%9.00%MayJuneJulyAugustSeptemberOctober
3.94%
3.89%
VAW
PAVE