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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Morningstar Rating™ - Overall rating out of 82 Infrastructure funds, based on risk-adjusted returns as of 03/31/25

    Reasons to Consider PAVE

    Compelling Need

    The American Society of Civil Engineers assigned a letter grade of C to the state of U.S. infrastructure in its 2025 report card, highlighting the need for investment.1

    Multiple Long-Term Catalysts

    America is committed to improving its aging infrastructure. The Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act appropriated nearly $1T to fund critical infrastructure projects.2

    Unconstrained Approach

    As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry.

    1American Society of Engineers, Mar 2025
    2Politico, 2024

    Key Information As of 10/03/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $9.72 billion
    NAV $47.93

    ETF Summary

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in the United States, including those involved in the production of raw materials, heavy equipment, engineering, and construction.

    ETF Objective

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx U.S. Infrastructure Development Index.

    Trading Details As of 10/03/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 202,730,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 10/03/25

    30-Day SEC Yield 0.56%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 10/03/25

    NAV $47.93 Daily Change $0.10 0.21%
    Market Price $47.95 Daily Change $0.09 0.19%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 09/30/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 2.45% 26.70% 18.08% 16.44% 58.46% 234.95% 03/06/17
    Returns (as of 10/02/25)
    		Return PAVE Return Index
    Since Inception 236.36% 252.18%
    12 Months 16.98% 17.51%
    24 Months 67.81% 69.85%
    Last 60 Trading Days 6.70% 6.86%
    Last 75 Trading Days 13.17% 13.35%
    Monthly Returns (through 10/02/25)
    		Return PAVE Return Index
    Oct 2025 0.42% 0.42%
    Sep 2025 2.45% 2.54%
    Aug 2025 1.77% 1.81%
    Jul 2025 4.84% 4.88%
    Jun 2025 5.25% 5.27%
    May 2025 8.11% 8.16%
    Apr 2025 1.84% 1.85%
    Mar 2025 -6.20% -6.17%
    Feb 2025 -5.01% -4.97%
    Jan 2025 4.64% 4.70%
    Dec 2024 -11.26% -11.22%
    Nov 2024 11.12% 11.19%
    Oct 2024 -0.05% -0.04%
    Sep 2024 4.42% 4.46%
    Aug 2024 -1.34% -1.35%
    Jul 2024 7.91% 8.00%
    Jun 2024 -4.38% -4.35%
    May 2024 3.28% 3.37%
    Apr 2024 -5.87% -5.85%
    Mar 2024 5.53% 5.57%
    Feb 2024 9.91% 10.01%
    Jan 2024 -0.36% -0.34%
    Dec 2023 9.83% 10.07%
    Nov 2023 9.40% 9.57%
    Oct 2023 -5.17% -5.09%

    Total returns take into account management, administration and fees and other costs automatically deducted from the fund's assets. Before investing, you may read the prospectus in the “FEES AND EXPENSES” section for more details.

    NAV & Index Chart

    Top Holdings As of 10/03/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.10 HWM HOWMET AEROSPACE INC United States BKLJ8V2 189.25 2,110,470 399,406,447.50
    3.52 FAST FASTENAL CO United States 2332262 47.88 7,145,272 342,115,623.36
    3.45 URI UNITED RENTALS INC United States 2134781 980.80 341,891 335,326,692.80
    3.31 CRH CRH PLC United States B01ZKD6 119.96 2,681,950 321,726,722.00
    3.29 PWR QUANTA SERVICES INC United States 2150204 421.17 759,895 320,044,977.15
    3.25 NSC NORFOLK SOUTHERN CORP United States 2641894 300.15 1,052,531 315,917,179.65
    3.11 PH PARKER HANNIFIN CORP United States 2671501 763.23 396,311 302,476,444.53
    3.06 SRE SEMPRA United States 2138158 91.44 3,255,493 297,682,279.92
    2.96 CSX CSX CORP United States 2160753 36.01 8,006,928 288,329,477.28
    2.94 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 424.09 673,468 285,611,044.12
    2.85 EMR EMERSON ELECTRIC CO United States 2313405 134.76 2,055,251 276,965,624.76
    2.80 ETN EATON CORP PLC United States B8KQN82 373.46 729,244 272,343,464.24
    2.70 DE DEERE & CO United States 2261203 462.88 567,896 262,867,700.48
    2.64 UNP UNION PACIFIC CORP United States 2914734 236.80 1,086,894 257,376,499.20
    2.61 VMC VULCAN MATERIALS CO United States 2931205 304.70 832,233 253,581,395.10
    2.56 ROK ROCKWELL AUTOMATION INC United States 2754060 349.40 712,306 248,879,716.40
    2.51 MLM MARTIN MARIETTA MATERIALS United States 2572079 634.77 385,160 244,488,013.20
    2.10 NUE NUCOR CORP United States 2651086 138.04 1,479,773 204,267,864.92
    1.95 EME EMCOR GROUP INC United States 2474164 654.41 289,866 189,691,209.06
    1.44 HUBB HUBBELL INC United States BDFG6S3 413.00 338,165 139,662,145.00
    1.43 STLD STEEL DYNAMICS INC United States 2849472 145.09 958,651 139,090,673.59
    1.28 TRMB TRIMBLE INC United States 2903958 80.72 1,547,798 124,938,254.56
    1.24 J JACOBS SOLUTIONS INC United States BNGC0D3 154.60 781,336 120,794,545.60
    1.20 PNR PENTAIR PLC United States BLS09M3 112.23 1,040,488 116,773,968.24
    1.13 FTV FORTIVE CORP United States BYT3MK1 50.41 2,184,964 110,144,035.24
    1.11 MTZ MASTEC INC United States 2155306 215.81 499,287 107,751,127.47
    1.11 ACM AECOM United States B1VZ431 128.91 835,312 107,680,069.92
    1.00 RS RELIANCE INC United States 2729068 284.11 340,952 96,867,872.72
    0.99 WWD WOODWARD INC United States 2948089 257.72 373,915 96,365,373.80
    0.97 RPM RPM INTERNATIONAL INC United States 2756174 116.83 809,837 94,613,256.71
    0.96 CSL CARLISLE COS INC United States 2176318 328.05 285,440 93,638,592.00
    0.96 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 128.55 725,025 93,201,963.75
    0.93 GGG GRACO INC United States 2380443 84.76 1,063,264 90,122,256.64
    0.86 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 236.39 355,687 84,080,849.93
    0.82 IEX IDEX CORP United States 2456612 167.00 477,214 79,694,738.00
    0.80 CRS CARPENTER TECHNOLOGY United States 2177504 247.52 313,707 77,648,756.64
    0.76 BLD TOPBUILD CORP United States BZ0P3W2 399.39 185,785 74,200,671.15
    0.76 RBC RBC BEARINGS INC United States B0GLYB5 373.99 197,980 74,042,540.20
    0.75 ATI ATI Inc United States 2526117 81.28 898,366 73,019,188.48
    0.74 MLI MUELLER INDUSTRIES INC United States 2609717 100.50 716,431 72,001,315.50
    0.71 WMS ADVANCED DRAINAG United States BP7RS59 141.95 488,467 69,337,890.65
    0.71 AYI ACUITY INC United States 2818461 352.95 195,260 68,917,017.00
    0.70 STRL STERLING INFRAST United States 2632876 349.30 193,790 67,690,847.00
    0.69 WLK Westlake Corporation United States B01ZP20 82.31 810,872 66,742,874.32
    0.68 WCC WESCO INTERNATIONAL INC United States 2416973 215.87 308,621 66,622,015.27
    0.67 CR CRANE CO United States BNYD4F8 179.93 360,657 64,893,014.01
    0.65 TPC TUTOR PERINI CORP United States 2681760 62.41 1,011,282 63,114,109.62
    0.64 RRX REGAL REXNORD CORP United States 2730082 147.94 417,470 61,760,511.80
    0.59 TTEK TETRA TECH INC United States 2883890 33.74 1,688,456 56,968,505.44
    0.58 AA ALCOA CORP United States BYNF418 34.50 1,627,868 56,161,446.00
    0.57 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 189.83 291,920 55,415,173.60
    0.54 DY DYCOM INDUSTRIES INC United States 2289841 286.45 183,829 52,657,817.05
    0.52 ZWS Zurn Elkay Water Solution United States BMV1ZD3 46.84 1,069,795 50,109,197.80
    0.51 VMI VALMONT INDUSTRIES United States 2926825 394.62 126,152 49,782,102.24
    0.51 EXP EAGLE MATERIALS INC United States 2191399 234.60 211,175 49,541,655.00
    0.48 PRIM PRIMORIS SERVICES CORP United States B1GC200 136.86 338,890 46,380,485.40
    0.43 CMC COMMERCIAL METALS CO United States 2213260 58.61 716,156 41,973,903.16
    0.42 PLPC PREFORMED LINE United States 2798466 199.75 205,593 41,067,201.75
    0.42 ROAD CONSTRUCTION P-A United States BDT5M66 125.64 326,502 41,021,711.28
    0.42 CENX CENTURY ALUMINUM COMPANY United States 2186254 29.87 1,361,562 40,669,856.94
    0.42 CALX CALIX INC United States B3S4L67 59.51 682,066 40,589,747.66
    0.42 AGX ARGAN INC United States 2804501 262.26 154,385 40,489,010.10
    0.41 LPX LOUISIANA-PACIFIC CORP United States 2535243 90.41 442,782 40,031,920.62
    0.41 CLF CLEVELAND-CLIFFS INC United States BYVZ186 12.75 3,112,730 39,687,307.50
    0.39 ASTE ASTEC INDUSTRIES INC United States 2060370 49.46 767,413 37,956,246.98
    0.37 IIIN INSTEEL INDUSTRIES INC United States 2325875 38.81 930,621 36,117,401.01
    0.36 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 199.55 174,422 34,805,910.10
    0.34 GRC GORMAN-RUPP CO United States 2379281 47.49 707,235 33,586,590.15
    0.34 BMI BADGER METER INC United States 2069128 181.01 185,262 33,534,274.62
    0.34 MTRN MATERION CORP United States 2149622 124.42 263,558 32,791,886.36
    0.34 CTOS CUSTOM TRUCK ONE United States BL66YS4 6.52 5,020,281 32,732,232.12
    0.33 RAL RALLIANT CORP United States BTNMGM9 44.30 724,682 32,103,412.60
    0.33 RYI RYERSON HOLDING CORP United States B3TPPZ6 24.41 1,314,185 32,079,255.85
    0.33 DXPE DXP ENTERPRISES INC United States 2276627 126.97 251,932 31,987,806.04
    0.33 GVA GRANITE CONSTRUCTION INC United States 2381189 109.25 290,405 31,726,746.25
    0.32 DNOW DNOW INC United States BMH0MV1 15.77 1,954,245 30,818,443.65
    0.32 MTUS METALLUS INC United States BNBPMX1 16.85 1,821,633 30,694,516.05
    0.30 MWA MUELLER WATER-A United States B15RZR4 25.96 1,137,240 29,522,750.40
    0.30 USLM US LIME & MINERA United States 2724115 129.10 227,136 29,323,257.60
    0.30 TEX TEREX CORP United States 2884224 52.63 551,293 29,014,550.59
    0.30 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 65.32 439,481 28,706,898.92
    0.29 ACA ARCOSA INC United States BGPZ5W8 92.34 307,499 28,394,457.66
    0.29 TITN TITAN MACHINERY INC United States B29H3T5 16.57 1,707,830 28,298,743.10
    0.29 NWPX NWPX INFRASTRUCTURE INC United States 2035925 52.15 540,522 28,188,222.30
    0.29 POWL POWELL INDUSTRIES INC United States 2697422 304.06 92,368 28,085,414.08
    0.29 HRI HERC HOLDINGS INC United States BZBZ020 128.19 218,121 27,960,930.99
    0.28 MRC MRC GLOBAL INC United States B7M66F1 14.94 1,788,911 26,726,330.34
    0.27 CSW CSW INDUSTRIALS INC United States BYQD1J6 249.79 105,904 26,453,760.16
    0.27 MDU MDU RESOURCES GROUP INC United States 2547323 17.72 1,491,048 26,421,370.56
    0.27 KNF KNIFE RIVER CORP United States BPLL4V5 72.69 357,174 25,962,978.06
    0.26 CTRI CENTURI HOLDINGS INC United States BMDPVF7 20.30 1,242,901 25,230,890.30
    0.23 MTX MINERALS TECHNOLOGIES INC United States 2595612 62.73 356,043 22,334,577.39
    0.22 EXPO EXPONENT INC United States 2330318 67.10 319,938 21,467,839.80
    0.20 ATKR Atkore Inc United States BDHF495 63.94 311,124 19,893,268.56
    0.20 TRN TRINITY INDUSTRIES INC United States 2904627 28.08 685,313 19,243,589.04
    0.18 GBX GREENBRIER COMPANIES INC United States 2387530 46.03 383,066 17,632,527.98
    0.17 WNC WABASH NATIONAL CORP United States 2932048 9.69 1,712,734 16,596,392.46
    0.14 CASH United States 1.00 13,129,940 13,129,939.90
    0.11 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 15.04 722,083 10,860,128.32
    0.10 RTYZ5 Index E-MINI RUSS 2000 DEC25 United States 124,605.00 76 9,469,980.00
    0.01 OTHER PAYABLE & RECEIVABLES United States 1.00 1,369,979 1,369,978.84
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 25.95 46,933 1,217,911.35
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 09/30/25

    Sector Weight (%)
    Industrials 73.2
    Materials 20.7
    Utilities 3.3
    Information Technology 2.0
    Consumer Discretionary 0.8

    Source: AltaVista Research, LLC

    ETF Characteristics As of 10/03/25

    Return on Equity 14.10%
    Weighted Avg. Market Cap 45,234 M
    2024 2025
    Price-to-earnings 26.20 25.78
    Price-to-book value 3.80 3.46

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 09/30/25

    Versus Beta
    S&P 500 1.31
    MSCI EAFE 0.84
    MSCI Emg. Mkts 0.47
    Standard Deviation 21.80%

    Source: AltaVista Research, LLC

    ETF Documents

    TERMS OF USE

    Global X Brasil Gestora de Investimentos Ltda. (“Global X Brasil”) is an asset manager authorized by the Brazilian Securities and Exchange Commission (“CVM”), constituted in the form of CVM Resolution No. 21/2021. Investing involves risks. The material on this site is for informational purposes only and does not constitute investment advice, recommendation, offer or solicitation to buy or sell any securities, funds, or strategies to any person in any jurisdiction in which an offer, solicitation, purchase, or sale would be illegal under the securities laws of such jurisdiction. Opinions expressed here are subject to change without notice. Reliance upon the information contained in this material is at the sole discretion of the reader. No securities regulator has confirmed the accuracy of any information contained herein. Access to the information on this site or the use of the services or information provided herein is prohibited by any person or entity in any jurisdiction or country where such distribution or use is contrary to local law, rules, or regulation. Investment in index funds (ETFs) involves risks, including detachment from the benchmark index and related to the liquidity of shares in the secondary market. Investment funds managed by Global X Brasil use strategies that can result in significant equity losses for their quota holders. Global X Brasil, its partners and employees are exempt of responsibility for any damages resulting directly or indirectly from the use of the information contained on this website.

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