XWIS.L vs. PAVG.L

Last updated Jul 18, 2026

XWIS.L (Xtrackers MSCI World Industrials UCITS ETF 1C GBP) and PAVG.L (Global X U.S. Infrastructure Development UCITS ETF USD (Dist)) are both Industrials Equities funds - XWIS.L tracks the MSCI World Index while PAVG.L tracks the Indxx U.S. Infrastructure Development v2 Index. Both are passively managed. Over the past 3 years, XWIS.L returned 7.54%/yr vs 20.18%/yr for PAVG.L. A 0.74 correlation means they provide meaningful diversification when combined. XWIS.L charges 0.25%/yr vs 0.47%/yr for PAVG.L.

Performance

XWIS.L vs. PAVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI World Industrials UCITS ETF 1C GBP (XWIS.L) and Global X U.S. Infrastructure Development UCITS ETF USD (Dist) (PAVG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XWIS.L achieves a 11.58% return, which is significantly lower than PAVG.L's 16.20% return.

XWIS.L

• 1D: 0.00%
• 1M: -2.18%
• 6M: 4.15%
• YTD: 11.58%
• 1Y: 17.46%
• 3Y*: 7.54%
• 5Y*: 5.54%
• 10Y*: 8.89%

PAVG.L

• 1D: -0.05%
• 1M: -4.39%
• 6M: 8.66%
• YTD: 16.20%
• 1Y: 25.44%
• 3Y*: 20.18%
• 5Y*: —
• 10Y*: —

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

XWIS.L vs. PAVG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XWIS.L Xtrackers MSCI World Industrials UCITS ETF 1C GBP	11.58%	16.99%	14.88%	-3.06%	-13.20%	0.44%
PAVG.L Global X U.S. Infrastructure Development UCITS ETF USD (Dist)	16.20%	12.40%	19.47%	24.53%	4.64%	-24.19%

Correlation

The correlation between XWIS.L and PAVG.L is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021	0.74

The correlation between XWIS.L and PAVG.L shifts across timeframes, from 0.74 (all time) to 0.84 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

XWIS.L vs. PAVG.L — Risk / Return Rank

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

XWIS.L

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PAVG.L

PAVG.L Risk / Return Rank: 60
PAVG.L Sharpe Ratio Rank: 58
PAVG.L Sortino Ratio Rank: 59
PAVG.L Omega Ratio Rank: 52
PAVG.L Calmar Ratio Rank: 67
PAVG.L Martin Ratio Rank: 62

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.

XWIS.L vs. PAVG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Industrials UCITS ETF 1C GBP (XWIS.L) and Global X U.S. Infrastructure Development UCITS ETF USD (Dist) (PAVG.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.

	XWIS.L	PAVG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.48	-1.09
Sortino ratio: Return per unit of downside risk	0.96	2.14	-1.17
Omega ratio: Gain probability vs. loss probability	1.25	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	0.63	2.50	-1.86
Martin ratio: Return relative to average drawdown	1.01	8.02	-7.00

XWIS.L vs. PAVG.L - Sharpe Ratio Comparison

The current XWIS.L Sharpe Ratio is 0.39, which is lower than the PAVG.L Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of XWIS.L and PAVG.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

XWIS.L vs. PAVG.L - Drawdown Comparison

The maximum XWIS.L drawdown since its inception was -39.29%, which is greater than PAVG.L's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for XWIS.L and PAVG.L.

Drawdown Indicators

	XWIS.L	PAVG.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.29%	-34.28%	-5.01%
Max Drawdown (1Y) Largest decline over 1 year	-27.55%	-10.14%	-17.41%
Max Drawdown (3Y) Largest decline over 3 years	-27.92%	-28.81%	+0.89%
Max Drawdown (5Y) Largest decline over 5 years	-27.92%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.29%	—	—
Current Drawdown Current decline from peak	-16.27%	-6.76%	-9.51%
Average Drawdown Average peak-to-trough decline	-6.92%	-11.99%	+5.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.23%	3.17%	+14.06%

Volatility

XWIS.L vs. PAVG.L - Volatility Comparison

The current volatility for Xtrackers MSCI World Industrials UCITS ETF 1C GBP (XWIS.L) is 4.67%, while Global X U.S. Infrastructure Development UCITS ETF USD (Dist) (PAVG.L) has a volatility of 5.51%. This indicates that XWIS.L experiences smaller price fluctuations and is considered to be less risky than PAVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XWIS.L	PAVG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	5.51%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	13.74%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	44.44%	17.28%	+27.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.86%	23.19%	+2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.80%	23.19%	-1.39%

XWIS.L vs. PAVG.L - Expense Ratio Comparison

XWIS.L has a 0.25% expense ratio, which is lower than PAVG.L's 0.47% expense ratio.

Dividends

XWIS.L vs. PAVG.L - Dividend Comparison

XWIS.L has not paid dividends to shareholders, while PAVG.L's dividend yield for the trailing twelve months is around 0.21%.

Position	TTM	2025	2024	2023	2022
PAVG.L Global X U.S. Infrastructure Development UCITS ETF USD (Dist)	0.21%	0.43%	0.41%	0.31%	0.58%
XWIS.L Xtrackers MSCI World Industrials UCITS ETF 1C GBP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XWIS.L and PAVG.L in my portfolio?

XWIS.L and PAVG.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XWIS.L or PAVG.L?

On fees, XWIS.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XWIS.L or PAVG.L?

XWIS.L is cheaper with a 0.25% expense ratio, compared with 0.47% for PAVG.L.

What is the main difference between XWIS.L and PAVG.L?

XWIS.L tracks MSCI World Index, while PAVG.L tracks Indxx U.S. Infrastructure Development v2 Index. They also come from different issuers: Xtrackers and Global X. Their fees differ too: 0.25% for XWIS.L and 0.47% for PAVG.L.