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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Reasons to Consider PAVE

    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 $1tn to fund critical infrastructure projects.2

    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

    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 20252Politico, 2024

    Key Information As of 01/14/26

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $10.82 billion
    NAV $50.65

    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 01/14/26

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 213,580,000
    Number of Holdings 99
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 01/14/26

    30-Day SEC Yield 0.54%
    Distribution Frequency Semi Annually
     Distribution History

    ETF Prices As of 01/14/26

    NAV $50.65 Daily Change -$0.09 -0.18%
    Market Price $50.69 Daily Change -$0.05 -0.10%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 12/31/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE -0.86% 10.40% 19.23% 19.23% 40.42% 238.22% 03/06/17
    Returns (as of 01/14/26)
    		Return PAVE Return Index
    Since Inception 258.61% 275.97%
    12 Months 20.86% 21.36%
    24 Months 49.43% 50.85%
    Last 60 Trading Days 8.12% 8.24%
    Last 75 Trading Days 8.31% 8.46%
    Monthly Returns (through 01/14/26)
    		Return PAVE Return Index
    Jan 2026 6.03% 6.05%
    Dec 2025 -0.86% -0.83%
    Nov 2025 0.56% 0.58%
    Oct 2025 1.28% 1.33%
    Sep 2025 2.48% 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%

    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 01/14/26

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.50 HWM HOWMET AEROSPACE INC United States BKLJ8V2 220.25 2,212,262 487,250,705.50
    3.59 PH PARKER HANNIFIN CORP United States 2671501 936.21 415,245 388,756,521.45
    3.22 PWR QUANTA SERVICES INC United States 2150204 437.07 796,366 348,067,687.62
    3.17 CRH CRH PLC United States B01ZKD6 121.89 2,811,236 342,661,556.04
    3.04 URI UNITED RENTALS INC United States 2134781 917.34 358,442 328,813,184.28
    2.95 EMR EMERSON ELECTRIC CO United States 2313405 148.15 2,154,265 319,154,359.75
    2.94 FAST FASTENAL CO United States 2332262 42.42 7,489,329 317,697,336.18
    2.92 NSC NORFOLK SOUTHERN CORP United States 2641894 286.37 1,103,350 315,966,339.50
    2.88 SRE SEMPRA United States 2138158 91.32 3,412,337 311,614,614.84
    2.88 ROK ROCKWELL AUTOMATION INC United States 2754060 417.21 746,623 311,498,581.83
    2.82 DE DEERE & CO United States 2261203 512.10 595,294 304,850,057.40
    2.80 CSX CSX CORP United States 2160753 36.18 8,392,237 303,631,134.66
    2.52 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 385.84 705,875 272,354,810.00
    2.47 NUE NUCOR CORP United States 2651086 172.29 1,551,176 267,252,113.04
    2.40 VMC VULCAN MATERIALS CO United States 2931205 298.48 872,369 260,384,699.12
    2.39 UNP UNION PACIFIC CORP United States 2914734 227.14 1,138,971 258,705,872.94
    2.38 MLM MARTIN MARIETTA MATERIALS United States 2572079 636.71 403,746 257,069,115.66
    2.34 ETN EATON CORP PLC United States B8KQN82 331.14 764,442 253,137,323.88
    1.85 EME EMCOR GROUP INC United States 2474164 660.73 303,734 200,686,165.82
    1.59 STLD STEEL DYNAMICS INC United States 2849472 170.80 1,005,560 171,749,648.00
    1.56 HUBB HUBBELL INC United States BDFG6S3 476.06 354,711 168,863,718.66
    1.20 WWD WOODWARD INC United States 2948089 331.25 392,169 129,905,981.25
    1.20 TRMB TRIMBLE INC United States 2903958 79.76 1,623,488 129,489,402.88
    1.18 FTV FORTIVE CORP United States BYT3MK1 55.76 2,291,501 127,774,095.76
    1.09 MTZ MASTEC INC United States 2155306 226.00 523,618 118,337,668.00
    1.07 ATI ATI INC United States 2526117 123.24 942,119 116,106,745.56
    1.05 J JACOBS SOLUTIONS INC United States BNGC0D3 139.00 818,968 113,836,552.00
    1.05 PNR PENTAIR PLC United States BLS09M3 104.08 1,091,327 113,585,314.16
    1.04 RS RELIANCE INC United States 2729068 315.58 357,610 112,854,563.80
    1.02 AA ALCOA CORP United States BYNF418 64.57 1,706,528 110,190,512.96
    0.99 CSL CARLISLE COS INC United States 2176318 359.13 299,385 107,518,135.05
    0.98 CRS CARPENTER TECHNOLOGY United States 2177504 323.00 329,015 106,271,845.00
    0.94 RBC RBC BEARINGS INC United States B0GLYB5 489.33 207,613 101,591,269.29
    0.89 GGG GRACO INC United States 2380443 86.68 1,115,163 96,662,328.84
    0.89 MLI MUELLER INDUSTRIES INC United States 2609717 128.57 751,149 96,575,226.93
    0.89 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 126.38 760,368 96,095,307.84
    0.88 IEX IDEX CORP United States 2456612 190.54 499,945 95,259,520.30
    0.88 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 255.82 372,466 95,284,252.12
    0.88 BLD TOPBUILD CORP United States BZ0P3W2 486.10 194,805 94,694,710.50
    0.87 RPM RPM INTERNATIONAL INC United States 2756174 111.17 849,338 94,420,905.46
    0.83 WCC WESCO INTERNATIONAL INC United States 2416973 276.65 323,583 89,519,236.95
    0.80 ACM AECOM United States B1VZ431 98.21 876,090 86,040,798.90
    0.74 WMS ADVANCED DRAINAGE SYSTEMS IN United States BP7RS59 157.20 512,150 80,509,980.00
    0.72 TPC TUTOR PERINI CORP United States 2681760 73.89 1,060,082 78,329,458.98
    0.71 CR CRANE CO United States BNYD4F8 203.20 378,183 76,846,785.60
    0.71 WLK WESTLAKE CORPORATION United States B01ZP20 89.85 850,225 76,392,716.25
    0.63 CENX CENTURY ALUMINUM COMPANY United States 2186254 47.92 1,427,194 68,391,136.48
    0.63 DY DYCOM INDUSTRIES INC United States 2289841 353.99 192,699 68,213,519.01
    0.63 RRX REGAL REXNORD CORP United States 2730082 155.29 437,196 67,892,166.84
    0.60 AYI ACUITY INC United States 2818461 319.20 204,713 65,344,389.60
    0.60 STRL STERLING INFRASTRUCTURE INC United States 2632876 319.27 203,126 64,852,038.02
    0.60 TTEK TETRA TECH INC United States 2883890 36.43 1,770,428 64,496,692.04
    0.59 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 209.78 306,031 64,199,183.18
    0.52 VMI VALMONT INDUSTRIES United States 2926825 428.14 132,235 56,615,092.90
    0.52 CMC COMMERCIAL METALS CO United States 2213260 74.26 750,546 55,735,545.96
    0.49 DNOW DNOW INC United States BMH0MV1 13.80 3,826,693 52,808,363.40
    0.48 PLPC PREFORMED LINE PRODUCTS CO United States 2798466 242.57 215,438 52,258,795.66
    0.48 ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION United States BMV1ZD3 46.55 1,121,255 52,194,420.25
    0.48 AGX ARGAN INC United States 2804501 317.76 161,767 51,403,081.92
    0.47 EXP EAGLE MATERIALS INC United States 2191399 231.81 221,366 51,314,852.46
    0.45 PRIM PRIMORIS SERVICES CORP United States B1GC200 137.78 354,986 48,909,971.08
    0.42 CLF CLEVELAND-CLIFFS INC United States BYVZ186 13.96 3,262,703 45,547,333.88
    0.39 LPX LOUISIANA-PACIFIC CORP United States 2535243 91.99 464,080 42,690,719.20
    0.39 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 229.50 182,749 41,940,895.50
    0.38 MTRN MATERION CORP United States 2149622 147.18 276,274 40,662,007.32
    0.37 RAL RALLIANT CORP United States BTNMGM9 52.53 764,008 40,133,340.24
    0.37 RYI RYERSON HOLDING CORP United States B3TPPZ6 28.86 1,376,122 39,714,880.92
    0.36 CALX CALIX INC United States B3S4L67 54.96 714,215 39,253,256.40
    0.36 ASTE ASTEC INDUSTRIES INC United States 2060370 48.80 804,072 39,238,713.60
    0.36 POWL POWELL INDUSTRIES INC United States 2697422 401.27 97,519 39,131,449.13
    0.36 ROAD CONSTRUCTION PARTNERS INC-A United States BDT5M66 113.69 342,162 38,900,397.78
    0.36 MTUS METALLUS INC United States BNBPMX1 20.22 1,907,764 38,574,988.08
    0.36 GRC GORMAN-RUPP CO United States 2379281 51.78 741,406 38,390,002.68
    0.36 NWPX NWPX INFRASTRUCTURE INC United States 2035925 67.89 566,738 38,475,842.82
    0.34 GVA GRANITE CONSTRUCTION INC United States 2381189 121.55 304,227 36,978,791.85
    0.34 HRI HERC HOLDINGS INC United States BZBZ020 159.13 228,742 36,399,714.46
    0.33 ACA ARCOSA INC United States BGPZ5W8 112.25 322,135 36,159,653.75
    0.33 CSW CSW INDUSTRIALS INC United States BYQD1J6 321.37 110,969 35,662,107.53
    0.33 CTRI CENTURI HOLDINGS INC United States BMDPVF7 27.05 1,302,748 35,239,333.40
    0.32 TEX TEREX CORP United States 2884224 60.71 577,815 35,079,148.65
    0.31 CTOS CUSTOM TRUCK ONE SOURCE INC United States BL66YS4 6.31 5,261,734 33,201,541.54
    0.31 BMI BADGER METER INC United States 2069128 171.00 194,213 33,210,423.00
    0.30 IIIN INSTEEL INDUSTRIES INC United States 2325875 33.70 975,218 32,864,846.60
    0.29 MDU MDU RESOURCES GROUP INC United States 2547323 20.32 1,562,771 31,755,506.72
    0.28 MWA MUELLER WATER PRODUCTS INC-A United States B15RZR4 25.78 1,191,372 30,713,570.16
    0.28 DXPE DXP ENTERPRISES INC United States 2276627 115.58 263,819 30,492,200.02
    0.28 USLM UNITED STATES LIME & MINERAL United States 2724115 128.38 238,014 30,557,427.39
    0.27 KNF KNIFE RIVER CORP United States BPLL4V5 79.01 374,192 29,564,909.92
    0.27 TITN TITAN MACHINERY INC United States B29H3T5 16.35 1,789,633 29,260,499.55
    0.24 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 55.83 460,366 25,702,233.78
    0.23 MTX MINERALS TECHNOLOGIES INC United States 2595612 66.80 372,877 24,908,183.60
    0.22 EXPO EXPONENT INC United States 2330318 72.26 335,464 24,240,628.64
    0.21 ATKR ATKORE INC United States BDHF495 69.66 325,998 22,709,020.68
    0.18 TRN TRINITY INDUSTRIES INC United States 2904627 27.41 718,457 19,692,906.37
    0.18 GBX GREENBRIER COMPANIES INC United States 2387530 48.64 401,590 19,533,337.60
    0.18 WNC WABASH NATIONAL CORP United States 2932048 10.59 1,795,177 19,010,924.43
    0.14 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 20.61 761,808 15,700,862.88
    0.06 RTYH6 Index E-MINI RUSS 2000 MAR26 United States 133,305.00 46 6,132,030.00
    0.03 CASH United States 1.00 3,486,184 3,486,184.16
    0.03 OTHER PAYABLE & RECEIVABLES United States 1.00 3,277,730 3,277,730.14
    0.02 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 34.60 49,087 1,698,410.20
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 12/31/25

    Sector Weight (%)
    Industrials 71.5
    Materials 22.6
    Utilities 3.2
    Information Technology 1.9
    Consumer Discretionary 0.8

    Source: AltaVista Research, LLC

    ETF Characteristics As of 01/14/26

    Return on Equity 15.20%
    Weighted Avg. Market Cap 45,126 M
    2025 2026
    Price-to-earnings 28.01 23.04
    Price-to-book value 3.71 3.33

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 12/31/25

    Versus Beta
    S&P 500 1.02
    MSCI EAFE 1.00
    MSCI Emg. Mkts 0.89
    Standard Deviation 20.70%

    Source: AltaVista Research, LLC

    ETF Documents

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    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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