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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Morningstar Rating™ - Overall rating out of 88 Infrastructure funds, based on risk-adjusted returns as of 02/28/25

    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 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 $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, 2021
    2Politico, 2024

    Key Information As of 03/31/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $7.67 billion
    NAV $37.71

    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 03/31/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 203,450,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.03%

    Distributions As of 03/31/25

    30-Day SEC Yield 0.72%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 03/31/25

    NAV $37.71 Daily Change $0.10 0.27%
    Market Price $37.73 Daily Change $0.12 0.32%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 03/31/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE -6.19% -8.09% -6.75% -4.74% 37.96% 164.52% 03/06/17
    Returns (as of 03/31/25)
    		Return PAVE Return Index
    Since Inception 164.52% 176.29%
    12 Months 0.91% 1.36%
    24 Months 37.96% 39.77%
    Last 60 Trading Days -6.76% -6.65%
    Last 75 Trading Days -15.51% -15.38%
    Monthly Returns (through 03/31/25)
    		Return PAVE Return Index
    Mar 2025 -6.20% -6.17%
    Feb 2025 -6.19% -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%
    May 2023 -1.18% -1.14%
    Apr 2023 -2.56% -2.56%
    Mar 2023 -2.93% -2.90%

    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 03/31/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.58 FAST FASTENAL CO United States 2332262 77.55 3,534,653 274,112,340.15
    3.53 HWM HOWMET AEROSPACE INC United States BKLJ8V2 129.73 2,087,994 270,875,461.62
    3.44 DE DEERE & CO United States 2261203 469.35 561,800 263,680,830.00
    3.31 UNP UNION PACIFIC CORP United States 2914734 236.24 1,075,275 254,022,966.00
    3.22 NSC NORFOLK SOUTHERN CORP United States 2641894 236.85 1,041,368 246,648,010.80
    3.11 PH PARKER HANNIFIN CORP United States 2671501 607.85 392,241 238,423,691.85
    3.04 CRH CRH PLC United States B01ZKD6 87.97 2,653,388 233,418,542.36
    3.04 CSX CSX CORP United States 2160753 29.43 7,921,731 233,136,543.33
    3.00 SRE SEMPRA United States 2138158 71.36 3,220,851 229,839,927.36
    2.93 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 336.92 666,296 224,488,448.32
    2.91 EMR EMERSON ELECTRIC CO United States 2313405 109.64 2,033,445 222,946,909.80
    2.76 URI UNITED RENTALS INC United States 2134781 626.70 338,180 211,937,406.00
    2.56 ETN EATON CORP PLC United States B8KQN82 271.83 721,401 196,098,433.83
    2.51 VMC VULCAN MATERIALS CO United States 2931205 233.30 823,308 192,077,756.40
    2.49 PWR QUANTA SERVICES INC United States 2150204 254.18 751,870 191,110,316.60
    2.38 MLM MARTIN MARIETTA MATERIALS United States 2572079 478.13 381,023 182,178,526.99
    2.38 ROK ROCKWELL AUTOMATION INC United States 2754060 258.38 704,693 182,078,577.34
    2.30 NUE NUCOR CORP United States 2651086 120.34 1,464,040 176,182,573.60
    2.06 FTV FORTIVE CORP United States BYT3MK1 73.18 2,163,268 158,307,952.24
    1.55 STLD STEEL DYNAMICS INC United States 2849472 125.08 949,183 118,723,809.64
    1.44 HUBB HUBBELL INC United States BDFG6S3 330.91 334,655 110,740,686.05
    1.38 EME EMCOR GROUP INC United States 2474164 369.63 286,591 105,932,631.33
    1.31 TRMB TRIMBLE INC United States 2903958 65.65 1,532,556 100,612,301.40
    1.27 RS RELIANCE INC United States 2729068 288.75 337,368 97,415,010.00
    1.26 CSL CARLISLE COS INC United States 2176318 340.50 282,596 96,223,938.00
    1.22 J JACOBS SOLUTIONS INC United States BNGC0D3 120.89 773,242 93,477,225.38
    1.21 RPM RPM INTERNATIONAL INC United States 2756174 115.68 801,087 92,669,744.16
    1.18 PNR PENTAIR PLC United States BLS09M3 87.48 1,030,149 90,117,434.52
    1.17 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 124.94 716,996 89,581,480.24
    1.15 GGG GRACO INC United States 2380443 83.51 1,052,728 87,913,315.28
    1.11 IEX IDEX CORP United States 2456612 180.97 471,792 85,380,198.24
    1.05 WLK Westlake Corporation United States B01ZP20 100.03 801,979 80,221,959.37
    1.00 ACM AECOM United States B1VZ431 92.73 826,938 76,681,960.74
    0.88 WWD WOODWARD INC United States 2948089 182.49 370,143 67,547,396.07
    0.87 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 189.16 351,680 66,523,788.80
    0.82 RBC RBC BEARINGS INC United States B0GLYB5 321.77 195,774 62,994,199.98
    0.77 X UNITED STATES STEEL CORP United States 2824770 42.26 1,402,397 59,265,297.22
    0.75 MTZ MASTEC INC United States 2155306 116.71 493,730 57,623,228.30
    0.73 CRS CARPENTER TECHNOLOGY United States 2177504 181.18 310,678 56,288,640.04
    0.73 BLD TOPBUILD CORP United States BZ0P3W2 304.95 183,782 56,044,320.90
    0.71 CR CRANE CO United States BNYD4F8 153.18 356,762 54,648,803.16
    0.70 MLI MUELLER INDUSTRIES INC United States 2609717 76.14 708,231 53,924,708.34
    0.68 WMS ADVANCED DRAINAG United States BP7RS59 108.65 482,698 52,445,137.70
    0.66 AYI ACUITY INC United States 2818461 263.35 193,241 50,890,017.35
    0.64 AA ALCOA CORP United States BYNF418 30.50 1,609,217 49,081,118.50
    0.64 TTEK TETRA TECH INC United States 2883890 29.25 1,669,434 48,830,944.50
    0.62 WCC WESCO INTERNATIONAL INC United States 2416973 155.30 305,203 47,398,025.90
    0.61 RRX REGAL REXNORD CORP United States 2730082 113.85 412,733 46,989,652.05
    0.61 EXP EAGLE MATERIALS INC United States 2191399 221.93 209,154 46,417,547.22
    0.60 ATI ATI Inc United States 2526117 52.03 888,147 46,210,288.41
    0.52 LPX LOUISIANA-PACIFIC CORP United States 2535243 91.98 437,040 40,198,939.20
    0.48 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 128.78 288,907 37,205,443.46
    0.46 VMI VALMONT INDUSTRIES United States 2926825 285.37 124,905 35,644,139.85
    0.46 ZWS Zurn Elkay Water Solution United States BMV1ZD3 32.98 1,057,007 34,860,090.86
    0.46 BMI BADGER METER INC United States 2069128 190.25 183,184 34,850,756.00
    0.43 DNOW DNOW INC United States BMH0MV1 17.08 1,930,696 32,976,287.68
    0.42 CMC COMMERCIAL METALS CO United States 2213260 46.01 707,624 32,557,780.24
    0.42 KNF KNIFE RIVER CORP United States BPLL4V5 90.21 352,893 31,834,477.53
    0.40 CSWI CSW INDUSTRIALS INC United States BYQD1J6 291.52 104,866 30,570,536.32
    0.39 RYI RYERSON HOLDING CORP United States B3TPPZ6 22.96 1,297,666 29,794,411.36
    0.38 TITN TITAN MACHINERY INC United States B29H3T5 17.04 1,687,396 28,753,227.84
    0.37 MWA MUELLER WATER-A United States B15RZR4 25.42 1,123,488 28,559,064.96
    0.37 HEES H&E EQUIPMENT SE United States B0WR848 94.79 299,976 28,434,725.04
    0.37 PLPC PREFORMED LINE United States 2798466 139.89 203,182 28,423,129.98
    0.36 DY DYCOM INDUSTRIES INC United States 2289841 152.34 181,661 27,674,236.74
    0.34 ASTE ASTEC INDUSTRIES INC United States 2060370 34.45 758,255 26,121,884.75
    0.33 EXPO EXPONENT INC United States 2330318 81.06 315,784 25,597,451.04
    0.33 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 58.66 434,166 25,468,177.56
    0.33 CLF CLEVELAND-CLIFFS INC United States BYVZ186 8.22 3,075,798 25,283,059.56
    0.33 CENX CENTURY ALUMINUM COMPANY United States 2186254 18.56 1,345,820 24,978,419.20
    0.32 MDU MDU RESOURCES GROUP INC United States 2547323 16.91 1,473,227 24,912,268.57
    0.32 GRC GORMAN-RUPP CO United States 2379281 35.10 699,279 24,544,692.90
    0.32 IIIN INSTEEL INDUSTRIES INC United States 2325875 26.30 919,586 24,185,111.80
    0.31 MTUS METALLUS INC United States BNBPMX1 13.36 1,798,613 24,029,469.68
    0.31 CALX CALIX INC United States B3S4L67 35.44 673,797 23,879,365.68
    0.31 HRI HERC HOLDINGS INC United States BZBZ020 134.27 176,652 23,719,064.04
    0.31 ACA ARCOSA INC United States BGPZ5W8 77.12 303,743 23,424,660.16
    0.30 ROAD CONSTRUCTION P-A United States BDT5M66 71.87 322,531 23,180,302.97
    0.30 TPC TUTOR PERINI CORP United States 2681760 23.18 999,536 23,169,244.48
    0.29 MTX MINERALS TECHNOLOGIES INC United States 2595612 63.57 352,093 22,382,552.01
    0.29 NWPX NORTHWEST PIPE CO United States 2035925 41.30 534,399 22,070,678.70
    0.28 STRL STERLING INFRAST United States 2632876 113.21 191,642 21,695,790.82
    0.28 GVA GRANITE CONSTRUCTION INC United States 2381189 75.40 287,089 21,646,510.60
    0.28 MTRN MATERION CORP United States 2149622 81.60 260,312 21,241,459.20
    0.27 CTOS CUSTOM TRUCK ONE United States BL66YS4 4.22 4,961,682 20,938,298.04
    0.27 TEX TEREX CORP United States 2884224 37.78 544,695 20,578,577.10
    0.27 DXPE DXP ENTERPRISES INC United States 2276627 82.26 249,152 20,495,243.52
    0.26 MRC MRC GLOBAL INC United States B7M66F1 11.48 1,767,985 20,296,467.80
    0.26 CTRI CENTURI HOLDINGS INC United States BMDPVF7 16.39 1,227,900 20,125,281.00
    0.26 AGX ARGAN INC United States 2804501 131.17 151,882 19,922,361.94
    0.26 USLM US LIME & MINERA United States 2724115 88.38 224,541 19,844,933.58
    0.25 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 113.09 172,500 19,508,025.00
    0.25 GBX GREENBRIER COMPANIES INC United States 2387530 51.22 378,246 19,373,760.12
    0.25 PRIM PRIMORIS SERVICES CORP United States B1GC200 57.41 334,930 19,228,331.30
    0.25 TRN TRINITY INDUSTRIES INC United States 2904627 28.06 677,547 19,011,968.82
    0.24 WNC WABASH NATIONAL CORP United States 2932048 11.05 1,692,984 18,707,473.20
    0.24 ATKR Atkore Inc United States BDHF495 59.99 307,636 18,455,083.64
    0.20 POWL POWELL INDUSTRIES INC United States 2697422 170.33 91,315 15,553,683.95
    0.16 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 16.93 718,448 12,163,324.64
    0.09 CASH United States 1.00 7,210,828 7,210,827.63
    0.09 RTYM5 Index E-MINI RUSS 2000 JUN25 United States 101,355.00 68 6,892,140.00
    0.04 OTHER PAYABLE & RECEIVABLES United States 1.00 3,262,049 3,262,048.94
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 02/28/25

    Sector Weight (%)
    Industrials 71.4
    Materials 22.7
    Utilities 3.1
    Information Technology 2.1
    Consumer Discretionary 0.7

    Source: AltaVista Research, LLC

    ETF Characteristics As of 03/31/25

    Return on Equity 14.50%
    Weighted Avg. Market Cap 39,461 M
    2024 2025
    Price-to-earnings 20.85 19.35
    Price-to-book value 2.96 2.67

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 03/31/25

    Versus Beta
    S&P 500 1.29
    MSCI EAFE 1.13
    MSCI Emg. Mkts 0.75
    Standard Deviation 26.00%

    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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