PAVE: Global X U.S. Infrastructure Development ETF returns, drawdowns and risk
Funds on a theme: clean energy, robotics, cybersecurity, uranium, gold miners and others.
Data updated October 2026
PAVE · US exchange · USDCategory: Thematic ETFsData from June 2020
From June 2020 to October 2026 PAVE returned 22.6% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $36,731.
Its deepest fall was 26.2%, from November 2024 to April 2025, and it took about 8 months to get back to the previous high. Annual volatility was 22.4%; at the last close it was 11.3% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 76 months both have data, the correlation of monthly returns was 0.82: they usually moved together. Beta was 1.19. In months when SPY rose, PAVE moved 117% as much on average; in months when SPY fell, 96% as much.
Key figures
- Annual return (CAGR)
- +22.6%
- 1-year return
- +11.2%
- 5 years, a year
- +15.1%
- 10 years, a year
- —
- Annual volatility
- 22.4%
- Maximum drawdown
- −26.2%
- Sharpe ratio
- 0.90
- Worst year
- 2022: −7.2%
Trailing returns
| Period | PAVE | SPY |
|---|---|---|
| 1 year | +11.2% | +16.6% |
| 3 years, a year | +23.6% | +23.1% |
| 5 years, a year | +15.1% | +12.7% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: PAVE vs SPY
Month-end values from July 2020, the first month both funds have data.
PAVE drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | PAVE | SPY |
|---|---|---|
| 2026(partial) | +11.4% | +13.3% |
| 2025 | +19.4% | +17.7% |
| 2024 | +17.9% | +24.9% |
| 2023 | +31.0% | +26.2% |
| 2022 | −7.2% | −18.2% |
| 2021 | +36.4% | +28.7% |
| 2020(partial) | +41.2% | — |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of PAVE?
From June 2020 to October 2026 PAVE returned 22.6% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +15.1% a year. Over the last 12 months: +11.2%.
What was the worst drawdown of PAVE?
26.2%, from November 2024 to April 2025; it took about 8 months from the previous high to get back to it.
How volatile is PAVE?
Annual volatility was 22.4% over the period. Its worst month was −11.5% and 58% of months were positive. Worst calendar year: 2022 (−7.2%).
How closely does PAVE follow SPY?
Over 76 months the correlation of monthly returns was 0.82, so they usually moved together, with a beta of 1.19.
Use PAVE in a free tool
Other Thematic ETFs
- All Thematic ETFsReturns and risk side by side
- ARKK — ARK Innovation ETFCAGR +13.7%
- ICLN — iShares Global Clean Energy ETFCAGR −4.2%
- TAN — Invesco Solar ETFCAGR −8.0%
- GDX — VanEck Gold Miners ETFCAGR +5.3%
- URA — Global X Uranium ETFCAGR +23.9%
- LIT — Global X Lithium & Battery Tech ETFCAGR +5.9%
- BOTZ — Global X Robotics & Artificial Intelligence ETFCAGR +8.9%
- AIQ — Global X Artificial Intelligence & Technology ETFCAGR +19.1%
- CIBR — First Trust NASDAQ Cybersecurity ETFCAGR +16.3%
- HACK — Amplify Cybersecurity ETFCAGR +14.6%
- SKYY — First Trust Cloud Computing ETFCAGR +15.1%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.