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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 06/13/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $8.28 billion
    NAV $41.94

    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 06/13/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 197,550,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 06/13/25

    30-Day SEC Yield 0.70%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 06/13/25

    NAV $41.94 Daily Change -$0.63 -1.48%
    Market Price $41.96 Daily Change -$0.62 -1.46%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 05/30/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 8.10% -8.89% 2.65% 7.84% 53.71% 191.18% 03/06/17
    Returns (as of 06/12/25)
    		Return PAVE Return Index
    Since Inception 198.62% 212.17%
    12 Months 15.37% 15.83%
    24 Months 36.50% 38.25%
    Last 60 Trading Days 10.78% 10.87%
    Last 75 Trading Days 6.54% 6.61%
    Monthly Returns (through 06/12/25)
    		Return PAVE Return Index
    Jun 2025 2.56% 2.55%
    May 2025 8.10% 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%
    Sep 2023 -5.90% -5.84%
    Aug 2023 -0.36% -0.32%
    Jul 2023 3.08% 3.12%
    Jun 2023 15.49% 15.55%

    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 06/13/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.22 HWM HOWMET AEROSPACE INC United States BKLJ8V2 171.20 2,041,719 349,542,292.80
    3.52 FAST FASTENAL CO United States 2332262 42.17 6,912,506 291,500,378.02
    3.38 DE DEERE & CO United States 2261203 509.59 549,405 279,971,293.95
    3.31 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 421.39 651,551 274,557,075.89
    3.18 PWR QUANTA SERVICES INC United States 2150204 358.26 735,173 263,383,078.98
    3.05 NSC NORFOLK SOUTHERN CORP United States 2641894 248.60 1,018,244 253,135,458.40
    3.02 PH PARKER HANNIFIN CORP United States 2671501 654.09 383,466 250,821,275.94
    3.01 EMR EMERSON ELECTRIC CO United States 2313405 125.54 1,988,322 249,613,943.88
    3.00 CSX CSX CORP United States 2160753 32.12 7,745,943 248,799,689.16
    2.83 UNP UNION PACIFIC CORP United States 2914734 223.37 1,051,410 234,853,451.70
    2.82 CRH CRH PLC United States B01ZKD6 90.04 2,594,545 233,612,831.80
    2.81 SRE SEMPRA United States 2138158 74.08 3,149,434 233,310,070.72
    2.77 URI UNITED RENTALS INC United States 2134781 694.84 330,746 229,815,550.64
    2.75 ETN EATON CORP PLC United States B8KQN82 323.66 705,485 228,337,275.10
    2.64 ROK ROCKWELL AUTOMATION INC United States 2754060 317.85 689,108 219,032,977.80
    2.53 VMC VULCAN MATERIALS CO United States 2931205 260.77 805,120 209,951,142.40
    2.44 MLM MARTIN MARIETTA MATERIALS United States 2572079 542.47 372,609 202,129,204.23
    2.10 NUE NUCOR CORP United States 2651086 121.92 1,431,476 174,525,553.92
    1.77 FTV FORTIVE CORP United States BYT3MK1 69.43 2,115,090 146,850,698.70
    1.62 EME EMCOR GROUP INC United States 2474164 477.92 280,425 134,020,716.00
    1.51 HUBB HUBBELL INC United States BDFG6S3 382.03 327,206 125,002,508.18
    1.49 STLD STEEL DYNAMICS INC United States 2849472 133.48 928,107 123,883,722.36
    1.28 TRMB TRIMBLE INC United States 2903958 71.08 1,498,353 106,502,931.24
    1.23 RS RELIANCE INC United States 2729068 310.12 329,929 102,317,581.48
    1.19 CSL CARLISLE COS INC United States 2176318 356.94 276,315 98,627,876.10
    1.17 PNR PENTAIR PLC United States BLS09M3 96.62 1,007,236 97,319,142.32
    1.15 J JACOBS SOLUTIONS INC United States BNGC0D3 125.89 755,977 95,169,944.53
    1.09 ACM AECOM United States B1VZ431 111.99 808,542 90,548,618.58
    1.04 GGG GRACO INC United States 2380443 83.54 1,029,263 85,984,631.02
    1.02 RPM RPM INTERNATIONAL INC United States 2756174 108.08 783,744 84,707,051.52
    1.01 WWD WOODWARD INC United States 2948089 232.06 362,079 84,024,052.74
    0.99 IEX IDEX CORP United States 2456612 177.82 461,568 82,076,021.76
    0.94 MTZ MASTEC INC United States 2155306 162.10 482,961 78,287,978.10
    0.94 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 111.29 701,533 78,073,607.57
    0.91 CRS CARPENTER TECHNOLOGY United States 2177504 248.72 303,812 75,564,120.64
    0.89 ATI ATI Inc United States 2526117 84.97 869,477 73,879,460.69
    0.86 X UNITED STATES STEEL CORP United States 2824770 52.19 1,372,519 71,631,766.61
    0.86 RBC RBC BEARINGS INC United States B0GLYB5 370.55 191,472 70,949,949.60
    0.84 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 201.27 343,916 69,219,973.32
    0.76 CR CRANE CO United States BNYD4F8 181.44 348,862 63,297,521.28
    0.73 WLK Westlake Corporation United States B01ZP20 77.30 784,488 60,640,922.40
    0.71 TTEK TETRA TECH INC United States 2883890 36.06 1,633,688 58,910,789.28
    0.67 RRX REGAL REXNORD CORP United States 2730082 137.69 403,639 55,577,053.91
    0.65 BLD TOPBUILD CORP United States BZ0P3W2 298.53 179,810 53,678,679.30
    0.64 WMS ADVANCED DRAINAG United States BP7RS59 113.00 470,851 53,206,163.00
    0.62 WCC WESCO INTERNATIONAL INC United States 2416973 173.27 297,566 51,559,260.82
    0.62 MLI MUELLER INDUSTRIES INC United States 2609717 74.27 693,217 51,485,226.59
    0.60 AYI ACUITY INC United States 2818461 265.58 188,318 50,013,494.44
    0.54 AA ALCOA CORP United States BYNF418 28.35 1,569,202 44,486,876.70
    0.53 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 154.45 282,522 43,635,522.90
    0.52 BMI BADGER METER INC United States 2069128 242.75 178,637 43,364,131.75
    0.50 DY DYCOM INDUSTRIES INC United States 2289841 233.15 177,311 41,340,059.65
    0.50 TPC TUTOR PERINI CORP United States 2681760 42.08 975,813 41,062,211.04
    0.48 EXP EAGLE MATERIALS INC United States 2191399 195.70 203,624 39,849,216.80
    0.47 VMI VALMONT INDUSTRIES United States 2926825 321.75 121,587 39,120,617.25
    0.46 STRL STERLING INFRAST United States 2632876 202.99 186,665 37,891,128.35
    0.46 LPX LOUISIANA-PACIFIC CORP United States 2535243 88.30 426,744 37,681,495.20
    0.44 ZWS Zurn Elkay Water Solution United States BMV1ZD3 35.21 1,031,066 36,303,833.86
    0.40 CMC COMMERCIAL METALS CO United States 2213260 48.38 690,536 33,408,131.68
    0.39 ROAD CONSTRUCTION P-A United States BDT5M66 103.67 314,906 32,646,305.02
    0.39 AGX ARGAN INC United States 2804501 218.17 148,820 32,468,059.40
    0.38 TITN TITAN MACHINERY INC United States B29H3T5 19.32 1,646,540 31,811,152.80
    0.38 IIIN INSTEEL INDUSTRIES INC United States 2325875 34.65 896,986 31,080,564.90
    0.38 CALX CALIX INC United States B3S4L67 47.24 657,410 31,056,048.40
    0.36 PLPC PREFORMED LINE United States 2798466 151.40 198,258 30,016,261.20
    0.36 ASTE ASTEC INDUSTRIES INC United States 2060370 40.05 739,720 29,625,786.00
    0.36 CSW CSW INDUSTRIALS INC United States BYQD1J6 288.74 102,101 29,480,642.74
    0.34 DNOW DNOW INC United States BMH0MV1 15.07 1,883,683 28,387,102.81
    0.34 KNF KNIFE RIVER CORP United States BPLL4V5 80.78 343,492 27,747,283.76
    0.33 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 163.39 168,130 27,470,760.70
    0.32 CTRI CENTURI HOLDINGS INC United States BMDPVF7 21.98 1,199,473 26,364,416.54
    0.32 RYI RYERSON HOLDING CORP United States B3TPPZ6 20.78 1,266,243 26,312,529.54
    0.31 ACA ARCOSA INC United States BGPZ5W8 85.83 296,536 25,451,684.88
    0.31 MWA MUELLER WATER-A United States B15RZR4 23.16 1,095,972 25,382,711.52
    0.30 CENX CENTURY ALUMINUM COMPANY United States 2186254 19.06 1,313,703 25,039,179.18
    0.30 GVA GRANITE CONSTRUCTION INC United States 2381189 89.07 280,134 24,951,535.38
    0.30 MTUS METALLUS INC United States BNBPMX1 14.01 1,756,046 24,602,204.46
    0.30 TEX TEREX CORP United States 2884224 46.00 532,169 24,479,774.00
    0.29 GRC GORMAN-RUPP CO United States 2379281 35.52 682,221 24,232,489.92
    0.29 PRIM PRIMORIS SERVICES CORP United States B1GC200 74.25 326,136 24,215,598.00
    0.29 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 57.20 422,553 24,170,031.60
    0.29 HRI HERC HOLDINGS INC United States BZBZ020 113.90 210,539 23,980,392.10
    0.28 MDU MDU RESOURCES GROUP INC United States 2547323 16.35 1,438,346 23,516,957.10
    0.28 EXPO EXPONENT INC United States 2330318 75.10 308,647 23,179,389.70
    0.27 CTOS CUSTOM TRUCK ONE United States BL66YS4 4.64 4,845,509 22,483,161.76
    0.26 MRC MRC GLOBAL INC United States B7M66F1 12.74 1,726,572 21,996,527.28
    0.26 CLF CLEVELAND-CLIFFS INC United States BYVZ186 7.17 3,003,199 21,532,936.83
    0.26 USLM US LIME & MINERA United States 2724115 97.85 219,207 21,449,404.95
    0.24 NWPX NORTHWEST PIPE CO United States 2035925 38.79 521,399 20,225,067.21
    0.24 ATKR Atkore Inc United States BDHF495 66.48 300,287 19,963,079.76
    0.24 MTRN MATERION CORP United States 2149622 78.26 254,346 19,905,117.96
    0.22 DXPE DXP ENTERPRISES INC United States 2276627 76.60 242,516 18,576,725.60
    0.22 MTX MINERALS TECHNOLOGIES INC United States 2595612 54.11 342,692 18,543,064.12
    0.21 TRN TRINITY INDUSTRIES INC United States 2904627 26.04 661,637 17,229,027.48
    0.21 WNC WABASH NATIONAL CORP United States 2932048 10.36 1,653,605 17,131,347.80
    0.20 POWL POWELL INDUSTRIES INC United States 2697422 187.85 89,738 16,857,283.30
    0.20 GBX GREENBRIER COMPANIES INC United States 2387530 45.30 369,952 16,758,825.60
    0.13 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 15.04 703,147 10,575,330.88
    0.07 RTYM5 Index E-MINI RUSS 2000 JUN25 United States 105,075.00 53 5,568,975.00
    0.05 OTHER PAYABLE & RECEIVABLES United States 1.00 3,864,139 3,864,139.22
    0.01 CASH United States 1.00 1,134,619 1,134,618.63
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 22.69 45,881 1,041,039.89
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 05/31/25

    Sector Weight (%)
    Industrials 72.6
    Materials 21.3
    Utilities 3.2
    Information Technology 2.2
    Consumer Discretionary 0.6
    Other/Cash 0.1

    Source: AltaVista Research, LLC

    ETF Characteristics As of 06/13/25

    Return on Equity 14.20%
    Weighted Avg. Market Cap 37,674 M
    2024 2025
    Price-to-earnings 22.68 21.74
    Price-to-book value 3.26 2.95

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 05/31/25

    Versus Beta
    S&P 500 1.34
    MSCI EAFE 1.03
    MSCI Emg. Mkts 0.68
    Standard Deviation 25.80%

    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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