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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Morningstar Rating™ - Overall rating out of 89 Infrastructure funds, based on risk-adjusted returns as of 12/31/24

    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 2021 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 $1tn to fund critical infrastructure projects.

    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 classification.

    1American Society of Engineers, Mar 2021

    Key Information As of 01/17/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $8.96 billion
    NAV $42.88

    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 01/17/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 209,060,000
    Number of Holdings 103
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 01/17/25

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

    ETF Prices As of 01/17/25

    NAV $42.88 Daily Change $0.36 0.85%
    Market Price $42.89 Daily Change $0.35 0.82%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 12/31/24)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE -11.22% 9.59% 18.08% 18.08% 54.51% 183.67% 03/06/17
    Returns (as of 01/16/25)
    		Return PAVE Return Index
    Since Inception 198.27% 211.21%
    12 Months 24.52% 25.14%
    24 Months 48.67% 50.63%
    Last 60 Trading Days 0.44% 0.58%
    Last 75 Trading Days 4.04% 4.20%
    Monthly Returns (through 01/16/25)
    		Return PAVE Return Index
    Jan 2025 5.14% 5.18%
    Dec 2024 -11.22% -11.21%
    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 -4.16% -4.16%
    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%
    May 2023 -1.18% -1.14%
    Apr 2023 -2.56% -2.56%
    Mar 2023 -2.93% -2.90%
    Feb 2023 0.80% 0.89%
    Jan 2023 9.27% 9.36%

    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 01/17/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.69 HWM HOWMET AEROSPACE INC United States BKLJ8V2 125.30 2,644,061 331,300,843.30
    3.67 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 389.19 845,972 329,243,842.68
    3.51 PWR QUANTA SERVICES INC United States 2150204 337.46 932,816 314,788,087.36
    3.40 PH PARKER HANNIFIN CORP United States 2671501 669.46 456,393 305,536,857.78
    3.40 ETN EATON CORP PLC United States B8KQN82 346.28 880,267 304,818,856.76
    3.18 URI UNITED RENTALS INC United States 2134781 771.00 370,299 285,500,529.00
    3.10 EMR EMERSON ELECTRIC CO United States 2313405 124.53 2,235,444 278,379,841.32
    2.83 SRE SEMPRA United States 2138158 85.18 2,985,243 254,282,998.74
    2.80 DE DEERE & CO United States 2261203 455.44 552,686 251,715,311.84
    2.61 FAST FASTENAL CO United States 2332262 76.08 3,080,055 234,330,584.40
    2.59 MLM MARTIN MARIETTA MATERIALS United States 2572079 542.56 428,034 232,234,127.04
    2.57 VMC VULCAN MATERIALS CO United States 2931205 270.10 853,047 230,407,994.70
    2.42 NSC NORFOLK SOUTHERN CORP United States 2641894 245.34 886,350 217,457,109.00
    2.30 UNP UNION PACIFIC CORP United States 2914734 234.26 879,797 206,101,245.22
    2.25 ROK ROCKWELL AUTOMATION INC United States 2754060 286.60 703,473 201,615,361.80
    2.24 CSX CSX CORP United States 2160753 32.73 6,135,784 200,824,210.32
    1.98 FTV FORTIVE CORP United States BYT3MK1 78.91 2,255,920 178,014,647.20
    1.73 NUE NUCOR CORP United States 2651086 124.53 1,246,094 155,176,085.82
    1.70 EME EMCOR GROUP INC United States 2474164 506.47 302,067 152,987,873.49
    1.68 HUBB HUBBELL INC United States BDFG6S3 437.38 344,308 150,593,433.04
    1.46 STLD STEEL DYNAMICS INC United States 2849472 125.83 1,038,325 130,652,434.75
    1.45 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 164.12 791,472 129,896,384.64
    1.39 CSL CARLISLE COS INC United States 2176318 399.85 312,388 124,908,341.80
    1.33 TRMB TRIMBLE INC United States 2903958 74.92 1,596,416 119,603,486.72
    1.26 J JACOBS SOLUTIONS INC United States BNGC0D3 139.26 810,449 112,863,127.74
    1.22 PNR PENTAIR PLC United States BLS09M3 103.02 1,060,554 109,258,273.08
    1.18 RS RELIANCE INC United States 2729068 288.06 368,619 106,184,389.14
    1.17 IEX IDEX CORP United States 2456612 215.69 485,282 104,670,474.58
    1.16 RPM RPM INTERNATIONAL INC United States 2756174 126.52 826,729 104,597,753.08
    1.08 WLK Westlake Corporation United States B01ZP20 117.96 822,167 96,982,819.32
    1.06 ACM AECOM United States B1VZ431 108.93 872,325 95,022,362.25
    1.03 GGG GRACO INC United States 2380443 85.14 1,082,732 92,183,802.48
    0.96 AGX ARGAN INC United States 2804501 177.89 486,233 86,495,988.37
    0.87 MTZ MASTEC INC United States 2155306 155.00 505,473 78,348,315.00
    0.81 WWD WOODWARD INC United States 2948089 189.12 385,186 72,846,376.32
    0.81 TTEK TETRA TECH INC United States 2883890 42.58 1,707,020 72,684,911.60
    0.79 POWL POWELL INDUSTRIES INC United States 2697422 261.34 272,670 71,259,577.80
    0.79 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 194.32 366,648 71,247,039.36
    0.78 BLD TOPBUILD CORP United States BZ0P3W2 346.18 203,633 70,493,671.94
    0.76 DXPE DXP ENTERPRISES INC United States 2276627 102.67 664,708 68,245,570.36
    0.74 RRX REGAL REXNORD CORP United States 2730082 156.50 425,521 66,594,036.50
    0.73 CRS CARPENTER TECHNOLOGY United States 2177504 206.58 317,352 65,558,576.16
    0.73 AYI ACUITY BRANDS INC United States 2818461 330.36 197,671 65,302,591.56
    0.71 TPC TUTOR PERINI CORP United States 2681760 25.40 2,517,480 63,943,992.00
    0.70 WCC WESCO INTERNATIONAL INC United States 2416973 191.61 327,299 62,713,761.39
    0.70 WMS ADVANCED DRAINAG United States BP7RS59 125.49 499,347 62,663,055.03
    0.67 MLI MUELLER INDUSTRIES INC United States 2609717 82.12 727,597 59,750,265.64
    0.65 RBC RBC BEARINGS INC United States B0GLYB5 312.09 186,804 58,299,660.36
    0.64 EXP EAGLE MATERIALS INC United States 2191399 256.85 223,945 57,520,273.25
    0.63 CR CRANE CO United States BNYD4F8 156.00 364,276 56,827,056.00
    0.63 USLM US LIME & MINERA United States 2724115 120.80 467,431 56,465,664.80
    0.62 PRIM PRIMORIS SERVICES CORP United States B1GC200 84.86 657,508 55,796,128.88
    0.60 STRL STERLING INFRAST United States 2632876 182.51 296,657 54,142,869.07
    0.59 LPX LOUISIANA-PACIFIC CORP United States 2535243 114.91 462,067 53,096,118.97
    0.57 X UNITED STATES STEEL CORP United States 2824770 36.04 1,429,139 51,506,169.56
    0.52 ATI ATI Inc United States 2526117 57.18 817,283 46,732,241.94
    0.51 ROAD CONSTRUCTION P-A United States BDT5M66 90.23 510,407 46,054,023.61
    0.50 VMI VALMONT INDUSTRIES United States 2926825 336.35 134,748 45,322,489.80
    0.50 AA ALCOA CORP United States BYNF418 39.53 1,144,840 45,255,525.20
    0.48 GVA GRANITE CONSTRUCTION INC United States 2381189 92.37 471,187 43,523,543.19
    0.48 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 148.50 292,353 43,414,420.50
    0.47 ZWS Zurn Elkay Water Solution United States BMV1ZD3 38.18 1,106,724 42,254,722.32
    0.45 BMI BADGER METER INC United States 2069128 215.17 188,141 40,482,298.97
    0.45 SUM SUMMIT MATERIA-A United States BW9JPS4 52.19 766,447 40,000,868.93
    0.44 CENX CENTURY ALUMINUM COMPANY United States 2186254 20.73 1,897,785 39,331,594.13
    0.44 CSWI CSW INDUSTRIALS INC United States BYQD1J6 390.21 100,650 39,274,636.50
    0.42 KNF KNIFE RIVER CORP United States BPLL4V5 104.88 362,307 37,998,758.16
    0.42 CMC COMMERCIAL METALS CO United States 2213260 50.60 745,022 37,698,113.20
    0.42 HRI HERC HOLDINGS INC United States BZBZ020 205.83 181,445 37,346,824.35
    0.42 NWPX NORTHWEST PIPE CO United States 2035925 49.78 748,524 37,261,524.72
    0.41 HEES H&E EQUIPMENT SE United States B0WR848 88.12 420,237 37,031,284.44
    0.40 DY DYCOM INDUSTRIES INC United States 2289841 190.54 188,087 35,838,096.98
    0.38 MWA MUELLER WATER-A United States B15RZR4 22.94 1,503,392 34,487,812.48
    0.37 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.27 3,257,054 33,449,944.58
    0.36 TRN TRINITY INDUSTRIES INC United States 2904627 38.18 836,363 31,932,339.34
    0.35 GBX GREENBRIER COMPANIES INC United States 2387530 66.85 467,066 31,223,362.10
    0.34 ACA ARCOSA INC United States BGPZ5W8 97.95 312,758 30,634,646.10
    0.33 EXPO EXPONENT INC United States 2330318 92.34 324,993 30,009,853.62
    0.33 MRC MRC GLOBAL INC United States B7M66F1 14.43 2,062,573 29,762,928.39
    0.33 DNOW DNOW INC United States BMH0MV1 13.72 2,169,161 29,760,888.92
    0.27 MTX MINERALS TECHNOLOGIES INC United States 2595612 76.16 323,060 24,604,249.60
    0.27 GRC GORMAN-RUPP CO United States 2379281 37.64 644,078 24,243,095.92
    0.27 MDU MDU RESOURCES GROUP INC United States 2547323 18.41 1,305,539 24,034,972.99
    0.26 CXT CRANE NXT CO United States BQ7W2W6 63.72 363,925 23,189,301.00
    0.26 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 147.72 154,856 22,875,328.32
    0.25 ECG EVERUS CONSTRUCTION GROUP United States BSVLTM2 69.68 327,033 22,787,659.44
    0.23 ASTE ASTEC INDUSTRIES INC United States 2060370 33.85 611,685 20,705,537.25
    0.23 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 36.30 569,047 20,656,406.10
    0.23 TEX TEREX CORP United States 2884224 47.21 430,120 20,305,965.20
    0.22 ATKR Atkore Inc United States BDHF495 85.17 237,125 20,195,936.25
    0.21 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 22.79 810,054 18,461,130.66
    0.20 CALX CALIX INC United States B3S4L67 37.91 482,784 18,302,341.44
    0.20 MTRN MATERION CORP United States 2149622 101.08 179,643 18,158,314.44
    0.19 IIIN INSTEEL INDUSTRIES INC United States 2325875 26.99 627,783 16,943,863.17
    0.19 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 62.51 266,969 16,688,232.19
    0.18 CTOS CUSTOM TRUCK ONE United States BL66YS4 4.76 3,386,371 16,119,125.96
    0.18 MTUS METALLUS INC United States BNBPMX1 15.01 1,051,343 15,780,658.43
    0.15 WNC WABASH NATIONAL CORP United States 2932048 16.23 844,459 13,705,569.57
    0.15 RYI RYERSON HOLDING CORP United States B3TPPZ6 20.76 642,863 13,345,835.88
    0.13 TITN TITAN MACHINERY INC United States B29H3T5 15.21 792,241 12,049,985.61
    0.12 RTYH5 Index E-MINI RUSS 2000 MAR25 United States 114,345.00 98 11,205,810.00
    0.10 CASH United States 1.00 9,443,405 9,443,405.14
    0.02 OTHER PAYABLE & RECEIVABLES United States 1.00 1,368,552 1,368,551.96
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 12/31/24

    Sector Weight (%)
    Industrials 75.1
    Materials 18.8
    Utilities 3.4
    Information Technology 2.0
    Consumer Discretionary 0.7

    Source: AltaVista Research, LLC

    ETF Characteristics As of 01/17/25

    Return on Equity 14.90%
    Weighted Avg. Market Cap 39,267 M
    2023 2024
    Price-to-earnings 23.14 22.96
    Price-to-book value 3.64 3.24

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 12/31/24

    Versus Beta
    S&P 500 1.28
    MSCI EAFE 1.18
    MSCI Emg. Mkts 0.76
    Standard Deviation 26.10%

    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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