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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

    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.

    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

    1American Society of Engineers, Mar 20252Politico, 2024

    Key Information As of 12/24/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $10.25 billion
    NAV $49.25

    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 12/24/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 208,020,000
    Number of Holdings 99
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 12/24/25

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

    ETF Prices As of 12/24/25

    NAV $49.25 Daily Change $0.11 0.22%
    Market Price $49.23 Daily Change $0.08 0.16%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 11/28/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 0.56% 17.21% 20.26% 6.76% 55.58% 241.14% 03/06/17
    Returns (as of 12/24/25)
    		Return PAVE Return Index
    Since Inception 246.35% 263.00%
    12 Months 22.16% 22.69%
    24 Months 43.81% 45.16%
    Last 60 Trading Days 3.40% 3.50%
    Last 75 Trading Days 7.19% 7.32%
    Monthly Returns (through 12/24/25)
    		Return PAVE Return Index
    Dec 2025 1.52% 1.55%
    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%
    Dec 2023 9.83% 10.07%

    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 12/24/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.49 HWM HOWMET AEROSPACE INC United States BKLJ8V2 212.17 2,173,743 461,203,052.31
    3.53 PH PARKER HANNIFIN CORP United States 2671501 887.76 408,557 362,700,562.32
    3.43 CRH CRH PLC United States B01ZKD6 127.54 2,762,854 352,374,399.16
    3.30 PWR QUANTA SERVICES INC United States 2150204 433.58 783,046 339,513,084.68
    3.09 NSC NORFOLK SOUTHERN CORP United States 2641894 292.71 1,084,147 317,340,668.37
    3.00 FAST FASTENAL CO United States 2332262 41.83 7,360,010 307,869,218.30
    2.95 CSX CSX CORP United States 2160753 36.78 8,247,746 303,352,097.88
    2.90 SRE SEMPRA United States 2138158 88.84 3,353,472 297,922,452.48
    2.84 ROK ROCKWELL AUTOMATION INC United States 2754060 398.22 733,616 292,140,563.52
    2.83 URI UNITED RENTALS INC United States 2134781 824.77 352,210 290,492,241.70
    2.81 EMR EMERSON ELECTRIC CO United States 2313405 136.30 2,117,312 288,589,625.60
    2.66 DE DEERE & CO United States 2261203 467.44 584,930 273,419,679.20
    2.66 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 393.18 693,574 272,699,425.32
    2.56 UNP UNION PACIFIC CORP United States 2914734 235.05 1,119,681 263,181,019.05
    2.48 MLM MARTIN MARIETTA MATERIALS United States 2572079 643.14 396,718 255,145,214.52
    2.46 NUE NUCOR CORP United States 2651086 165.49 1,524,173 252,235,389.77
    2.45 VMC VULCAN MATERIALS CO United States 2931205 293.64 857,179 251,702,041.56
    2.37 ETN EATON CORP PLC United States B8KQN82 323.67 751,136 243,120,189.12
    1.82 EME EMCOR GROUP INC United States 2474164 626.07 298,428 186,836,817.96
    1.69 STLD STEEL DYNAMICS INC United States 2849472 175.38 988,034 173,281,402.92
    1.55 HUBB HUBBELL INC United States BDFG6S3 456.28 348,556 159,039,131.68
    1.24 TRMB TRIMBLE INC United States 2903958 80.01 1,595,775 127,677,957.75
    1.22 FTV FORTIVE CORP United States BYT3MK1 55.46 2,252,131 124,903,185.26
    1.18 WWD WOODWARD INC United States 2948089 313.87 385,887 121,118,352.69
    1.12 MTZ MASTEC INC United States 2155306 223.50 514,526 114,996,561.00
    1.10 PNR PENTAIR PLC United States BLS09M3 105.38 1,072,307 112,999,711.66
    1.07 J JACOBS SOLUTIONS INC United States BNGC0D3 136.11 805,252 109,602,849.72
    1.05 CRS CARPENTER TECHNOLOGY United States 2177504 334.42 323,336 108,130,025.12
    1.05 ATI ATI INC United States 2526117 116.64 925,697 107,973,298.08
    1.01 RS RELIANCE INC United States 2729068 295.51 351,396 103,841,031.96
    0.95 CSL CARLISLE COS INC United States 2176318 332.56 294,169 97,828,842.64
    0.91 RBC RBC BEARINGS INC United States B0GLYB5 458.38 204,013 93,515,478.94
    0.89 GGG GRACO INC United States 2380443 83.60 1,094,437 91,494,933.20
    0.88 AA ALCOA CORP United States BYNF418 53.63 1,676,801 89,926,837.63
    0.88 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 245.15 366,523 89,853,113.45
    0.86 IEX IDEX CORP United States 2456612 180.20 491,784 88,619,476.80
    0.86 RPM RPM INTERNATIONAL INC United States 2756174 105.79 833,080 88,131,533.20
    0.85 MLI MUELLER INDUSTRIES INC United States 2609717 118.32 736,803 87,178,530.96
    0.82 ACM AECOM United States B1VZ431 97.49 859,342 83,777,251.58
    0.80 BLD TOPBUILD CORP United States BZ0P3W2 428.13 191,090 81,811,361.70
    0.79 WCC WESCO INTERNATIONAL INC United States 2416973 254.70 317,411 80,844,581.70
    0.76 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 104.03 745,796 77,585,157.88
    0.73 WMS ADVANCED DRAINAGE SYSTEMS IN United States BP7RS59 149.36 502,357 75,032,041.52
    0.73 AYI ACUITY INC United States 2818461 372.34 200,890 74,799,382.60
    0.70 TPC TUTOR PERINI CORP United States 2681760 68.93 1,039,432 71,648,047.76
    0.68 CR CRANE CO United States BNYD4F8 188.27 370,791 69,808,821.57
    0.64 DY DYCOM INDUSTRIES INC United States 2289841 348.40 189,340 65,966,056.00
    0.61 STRL STERLING INFRASTRUCTURE INC United States 2632876 314.00 199,420 62,617,880.00
    0.61 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 208.48 300,209 62,587,572.32
    0.61 RRX REGAL REXNORD CORP United States 2730082 145.11 429,293 62,294,707.23
    0.60 WLK WESTLAKE CORPORATION United States B01ZP20 73.68 833,392 61,404,322.56
    0.58 TTEK TETRA TECH INC United States 2883890 34.18 1,735,185 59,308,623.30
    0.54 CENX CENTURY ALUMINUM COMPANY United States 2186254 39.31 1,399,283 55,005,814.73
    0.53 VMI VALMONT INDUSTRIES United States 2926825 416.73 129,724 54,059,882.52
    0.51 ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION United States BMV1ZD3 47.95 1,099,634 52,727,450.30
    0.51 AGX ARGAN INC United States 2804501 328.26 158,889 52,156,903.14
    0.51 CMC COMMERCIAL METALS CO United States 2213260 70.74 735,861 52,054,807.14
    0.50 DNOW DNOW INC United States BMH0MV1 13.79 3,753,069 51,754,821.51
    0.45 EXP EAGLE MATERIALS INC United States 2191399 213.90 217,165 46,451,593.50
    0.44 PLPC PREFORMED LINE PRODUCTS CO United States 2798466 215.93 211,223 45,609,382.39
    0.44 PRIM PRIMORIS SERVICES CORP United States B1GC200 129.53 348,461 45,136,153.33
    0.43 CLF CLEVELAND-CLIFFS INC United States BYVZ186 13.75 3,199,442 43,992,327.50
    0.40 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 226.92 179,489 40,729,643.88
    0.38 RAL RALLIANT CORP United States BTNMGM9 51.65 754,744 38,982,527.60
    0.37 CALX CALIX INC United States B3S4L67 54.62 701,208 38,299,980.96
    0.37 LPX LOUISIANA-PACIFIC CORP United States 2535243 82.55 455,168 37,574,118.40
    0.37 ROAD CONSTRUCTION PARTNERS INC-A United States BDT5M66 112.01 335,510 37,580,475.10
    0.35 GRC GORMAN-RUPP CO United States 2379281 49.80 726,940 36,201,612.00
    0.35 ASTE ASTEC INDUSTRIES INC United States 2060370 45.65 788,807 36,009,039.55
    0.35 NWPX NWPX INFRASTRUCTURE INC United States 2035925 64.70 555,723 35,955,278.10
    0.34 RYI RYERSON HOLDING CORP United States B3TPPZ6 26.18 1,350,780 35,363,420.40
    0.34 GVA GRANITE CONSTRUCTION INC United States 2381189 118.42 298,287 35,323,146.54
    0.34 ACA ARCOSA INC United States BGPZ5W8 110.88 315,944 35,031,870.72
    0.34 HRI HERC HOLDINGS INC United States BZBZ020 156.38 224,314 35,078,223.32
    0.34 BMI BADGER METER INC United States 2069128 182.55 190,329 34,744,558.95
    0.34 MTRN MATERION CORP United States 2149622 127.95 270,877 34,658,712.15
    0.33 MTUS METALLUS INC United States BNBPMX1 17.89 1,872,303 33,495,500.67
    0.33 CSW CSW INDUSTRIALS INC United States BYQD1J6 308.08 108,719 33,494,149.52
    0.32 CTRI CENTURI HOLDINGS INC United States BMDPVF7 26.10 1,277,244 33,336,068.40
    0.31 POWL POWELL INDUSTRIES INC United States 2697422 336.17 95,617 32,143,566.89
    0.30 CTOS CUSTOM TRUCK ONE SOURCE INC United States BL66YS4 5.99 5,159,915 30,907,890.85
    0.30 TEX TEREX CORP United States 2884224 54.63 566,494 30,947,567.22
    0.30 IIIN INSTEEL INDUSTRIES INC United States 2325875 32.25 956,519 30,847,737.75
    0.29 MDU MDU RESOURCES GROUP INC United States 2547323 19.64 1,532,720 30,102,620.80
    0.29 DXPE DXP ENTERPRISES INC United States 2276627 115.00 258,688 29,749,120.00
    0.29 USLM UNITED STATES LIME & MINERAL United States 2724115 127.25 233,329 29,691,115.25
    0.28 MWA MUELLER WATER PRODUCTS INC-A United States B15RZR4 24.82 1,168,768 29,008,821.76
    0.27 TITN TITAN MACHINERY INC United States B29H3T5 15.58 1,755,122 27,344,800.76
    0.26 KNF KNIFE RIVER CORP United States BPLL4V5 73.46 367,308 26,982,445.68
    0.23 EXPO EXPONENT INC United States 2330318 71.77 328,946 23,608,454.42
    0.22 MTX MINERALS TECHNOLOGIES INC United States 2595612 61.91 366,177 22,670,018.07
    0.22 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 50.10 451,867 22,638,536.70
    0.20 ATKR ATKORE INC United States BDHF495 65.11 319,569 20,807,137.59
    0.19 TRN TRINITY INDUSTRIES INC United States 2904627 27.82 704,455 19,597,938.10
    0.18 GBX GREENBRIER COMPANIES INC United States 2387530 46.46 393,763 18,294,228.98
    0.15 WNC WABASH NATIONAL CORP United States 2932048 8.92 1,760,599 15,704,543.08
    0.13 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 17.77 747,215 13,278,010.55
    0.06 RTYH6 INDEX E-MINI RUSS 2000 MAR26 United States 128,305.00 46 5,902,030.00
    0.06 CASH United States 1.00 5,767,951 5,767,951.18
    0.02 OTHER PAYABLE & RECEIVABLES United States 1.00 2,271,791 2,271,790.77
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 29.91 48,059 1,437,444.69
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 11/30/25

    Sector Weight (%)
    Industrials 72.4
    Materials 21.2
    Utilities 3.5
    Information Technology 2.0
    Consumer Discretionary 0.9

    Source: AltaVista Research, LLC

    ETF Characteristics As of 12/24/25

    Return on Equity 13.90%
    Weighted Avg. Market Cap 45,576 M
    2024 2025
    Price-to-earnings 27.05 26.76
    Price-to-book value 3.91 3.57

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 11/30/25

    Versus Beta
    S&P 500 1.27
    MSCI EAFE 0.84
    MSCI Emg. Mkts 0.60
    Standard Deviation 20.70%

    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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