XUIN.L vs. PAVE.L

Last updated Jun 26, 2026

XUIN.L (Xtrackers MSCI USA Industrials UCITS ETF 1D) and PAVE.L (Global X U.S. Infrastructure Development UCITS ETF USD Accumulating) are both Industrials Equities funds - XUIN.L tracks the MSCI World/Materials NR USD while PAVE.L tracks the Indxx U.S. Infrastructure Development v2 Index. Both are passively managed. Over the past 3 years, XUIN.L returned 22.77%/yr vs 26.21%/yr for PAVE.L. Their correlation of 0.92 suggests significant overlap in exposure. XUIN.L charges 0.12%/yr vs 0.47%/yr for PAVE.L.

Performance

XUIN.L vs. PAVE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI USA Industrials UCITS ETF 1D (XUIN.L) and Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XUIN.L achieves a 18.88% return, which is significantly lower than PAVE.L's 23.45% return.

XUIN.L

• 1D: 1.16%
• 1M: 5.28%
• YTD: 18.88%
• 6M: 18.23%
• 1Y: 28.96%
• 3Y*: 22.77%
• 5Y*: 13.81%
• 10Y*: —

PAVE.L

• 1D: 1.51%
• 1M: 6.95%
• YTD: 23.45%
• 6M: 22.32%
• 1Y: 40.89%
• 3Y*: 26.21%
• 5Y*: —
• 10Y*: —

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

XUIN.L vs. PAVE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XUIN.L Xtrackers MSCI USA Industrials UCITS ETF 1D	18.88%	18.19%	17.12%	20.92%	-6.84%	0.48%
PAVE.L Global X U.S. Infrastructure Development UCITS ETF USD Accumulating	23.45%	19.81%	17.96%	31.55%	-6.33%	2.03%

Correlation

The correlation between XUIN.L and PAVE.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021	0.92

The correlation between XUIN.L and PAVE.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

XUIN.L vs. PAVE.L - Sectors Allocation Comparison

Sectors	XUIN.L	PAVE.L
Industrials	93.7%	75.1%
Technology	5.8%	1.0%
Utilities	5.1%	3.2%
Financial Services	0.2%	-
Consumer Cyclical	0.2%	-
Basic Materials	0.2%	20.1%
Communication Services	-	-
Consumer Defensive	-	0.3%
Energy	-	0.3%
Healthcare	-	-
Real Estate	-	-

Return for Risk

XUIN.L vs. PAVE.L — Risk / Return Rank

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

XUIN.L

XUIN.L Risk / Return Rank: 65
XUIN.L Sharpe Ratio Rank: 66
XUIN.L Sortino Ratio Rank: 71
XUIN.L Omega Ratio Rank: 59
XUIN.L Calmar Ratio Rank: 62
XUIN.L Martin Ratio Rank: 66

PAVE.L

PAVE.L Risk / Return Rank: 76
PAVE.L Sharpe Ratio Rank: 78
PAVE.L Sortino Ratio Rank: 83
PAVE.L Omega Ratio Rank: 70
PAVE.L Calmar Ratio Rank: 76
PAVE.L Martin Ratio Rank: 74

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.

XUIN.L vs. PAVE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI USA Industrials UCITS ETF 1D (XUIN.L) and Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L). 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.

	XUIN.L	PAVE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.19	-0.29
Sortino ratio: Return per unit of downside risk	2.82	3.24	-0.42
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.04
Calmar ratio: Return relative to maximum drawdown	2.70	3.46	-0.76
Martin ratio: Return relative to average drawdown	10.66	12.34	-1.68

XUIN.L vs. PAVE.L - Sharpe Ratio Comparison

The current XUIN.L Sharpe Ratio is 1.90, which is comparable to the PAVE.L Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of XUIN.L and PAVE.L, 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

XUIN.L vs. PAVE.L - Drawdown Comparison

The maximum XUIN.L drawdown since its inception was -21.71%, smaller than the maximum PAVE.L drawdown of -27.10%. Use the drawdown chart below to compare losses from any high point for XUIN.L and PAVE.L.

Drawdown Indicators

	XUIN.L	PAVE.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.71%	-27.10%	+5.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-11.77%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.82%	-27.10%	+7.28%
Max Drawdown (5Y) Largest decline over 5 years	-21.71%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.53%	-5.86%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	3.31%	-0.60%

Volatility

XUIN.L vs. PAVE.L - Volatility Comparison

The current volatility for Xtrackers MSCI USA Industrials UCITS ETF 1D (XUIN.L) is 5.00%, while Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L) has a volatility of 5.43%. This indicates that XUIN.L experiences smaller price fluctuations and is considered to be less risky than PAVE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUIN.L	PAVE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	5.43%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	14.77%	-2.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.19%	18.58%	-3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	21.69%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	21.69%	-4.26%

XUIN.L vs. PAVE.L - Expense Ratio Comparison

XUIN.L has a 0.12% expense ratio, which is lower than PAVE.L's 0.47% expense ratio.

Dividends

XUIN.L vs. PAVE.L - Dividend Comparison

XUIN.L's dividend yield for the trailing twelve months is around 0.87%, while PAVE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
PAVE.L Global X U.S. Infrastructure Development UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%
XUIN.L Xtrackers MSCI USA Industrials UCITS ETF 1D	0.87%	1.01%	1.12%	1.17%	0.63%

Frequently Asked Questions

Can I hold both XUIN.L and PAVE.L in my portfolio?

XUIN.L and PAVE.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XUIN.L or PAVE.L?

On fees, XUIN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XUIN.L or PAVE.L?

XUIN.L is cheaper with a 0.12% expense ratio, compared with 0.47% for PAVE.L.

What is the main difference between XUIN.L and PAVE.L?

XUIN.L tracks MSCI World/Materials NR USD, while PAVE.L tracks Indxx U.S. Infrastructure Development v2 Index. They also come from different issuers: DWS and Global X. Their fees differ too: 0.12% for XUIN.L and 0.47% for PAVE.L.