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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 09/08/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $9.36 billion
    NAV $46.60

    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 09/08/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 200,900,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 09/08/25

    30-Day SEC Yield 0.57%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 09/08/25

    NAV $46.60 Daily Change -$0.06 -0.13%
    Market Price $46.60 Daily Change -$0.04 -0.09%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 08/29/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 1.77% 15.97% 15.25% 18.67% 45.51% 226.94% 03/06/17
    Returns (as of 09/08/25)
    		Return PAVE Return Index
    Since Inception 227.71% 242.99%
    12 Months 13.89% 14.38%
    24 Months 54.99% 56.97%
    Last 60 Trading Days 9.92% 10.07%
    Last 75 Trading Days 10.96% 11.13%
    Monthly Returns (through 09/08/25)
    		Return PAVE Return Index
    Sep 2025 0.23% 0.26%
    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%
    Nov 2023 9.40% 9.57%
    Oct 2023 -5.17% -5.09%
    Sep 2023 -5.90% -5.84%

    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 09/08/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.00 HWM HOWMET AEROSPACE INC United States BKLJ8V2 179.43 2,090,606 375,117,434.58
    3.64 FAST FASTENAL CO United States 2332262 48.19 7,078,040 341,090,747.60
    3.51 URI UNITED RENTALS INC United States 2134781 970.23 338,644 328,562,568.12
    3.18 PH PARKER HANNIFIN CORP United States 2671501 760.18 392,491 298,363,808.38
    3.18 CRH CRH PLC United States B01ZKD6 112.06 2,656,738 297,714,060.28
    3.07 NSC NORFOLK SOUTHERN CORP United States 2641894 275.59 1,042,599 287,329,858.41
    3.02 PWR QUANTA SERVICES INC United States 2150204 375.53 752,828 282,709,498.84
    2.95 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 414.93 667,165 276,826,773.45
    2.89 DE DEERE & CO United States 2261203 481.51 562,548 270,872,487.48
    2.88 EMR EMERSON ELECTRIC CO United States 2313405 132.73 2,035,960 270,232,970.80
    2.74 CSX CSX CORP United States 2160753 32.43 7,931,483 257,217,993.69
    2.73 SRE SEMPRA United States 2138158 79.41 3,224,933 256,091,929.53
    2.69 ETN EATON CORP PLC United States B8KQN82 349.49 722,368 252,460,392.32
    2.63 VMC VULCAN MATERIALS CO United States 2931205 298.91 824,402 246,422,001.82
    2.60 ROK ROCKWELL AUTOMATION INC United States 2754060 344.67 705,621 243,206,390.07
    2.55 MLM MARTIN MARIETTA MATERIALS United States 2572079 627.09 381,531 239,254,274.79
    2.50 UNP UNION PACIFIC CORP United States 2914734 217.26 1,076,580 233,897,770.80
    2.25 NUE NUCOR CORP United States 2651086 144.02 1,465,830 211,108,836.60
    1.90 EME EMCOR GROUP INC United States 2474164 621.58 287,192 178,512,803.36
    1.56 HUBB HUBBELL INC United States BDFG6S3 436.62 334,918 146,231,897.16
    1.36 STLD STEEL DYNAMICS INC United States 2849472 134.54 949,674 127,769,139.96
    1.33 TRMB TRIMBLE INC United States 2903958 81.29 1,533,282 124,640,493.78
    1.22 PNR PENTAIR PLC United States BLS09M3 110.68 1,030,747 114,083,077.96
    1.20 J JACOBS SOLUTIONS INC United States BNGC0D3 144.76 773,887 112,027,882.12
    1.18 CSL CARLISLE COS INC United States 2176318 392.66 282,766 111,030,897.56
    1.13 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 147.89 718,149 106,207,055.61
    1.12 ACM AECOM United States B1VZ431 126.90 827,481 105,007,338.90
    1.11 FTV FORTIVE CORP United States BYT3MK1 47.98 2,164,336 103,844,841.28
    1.10 RPM RPM INTERNATIONAL INC United States 2756174 128.09 802,197 102,753,413.73
    1.07 RS RELIANCE INC United States 2729068 298.02 337,705 100,642,844.10
    0.97 GGG GRACO INC United States 2380443 85.95 1,053,332 90,533,885.40
    0.95 WWD WOODWARD INC United States 2948089 240.94 370,477 89,262,728.38
    0.93 MTZ MASTEC INC United States 2155306 176.75 494,512 87,404,996.00
    0.91 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 243.24 352,249 85,681,046.76
    0.85 BLD TOPBUILD CORP United States BZ0P3W2 434.05 184,066 79,893,847.30
    0.84 CRS CARPENTER TECHNOLOGY United States 2177504 251.88 310,842 78,294,882.96
    0.83 IEX IDEX CORP United States 2456612 164.17 472,630 77,591,667.10
    0.80 RBC RBC BEARINGS INC United States B0GLYB5 381.97 196,070 74,892,857.90
    0.77 WMS ADVANCED DRAINAG United States BP7RS59 148.50 483,883 71,856,625.50
    0.76 WLK Westlake Corporation United States B01ZP20 88.38 803,232 70,989,644.16
    0.74 MLI MUELLER INDUSTRIES INC United States 2609717 97.29 709,746 69,051,188.34
    0.74 ATI ATI Inc United States 2526117 77.50 889,962 68,972,055.00
    0.71 WCC WESCO INTERNATIONAL INC United States 2416973 217.84 305,756 66,605,887.04
    0.70 CR CRANE CO United States BNYD4F8 184.43 357,219 65,881,900.17
    0.70 AYI ACUITY INC United States 2818461 337.47 193,350 65,249,824.50
    0.66 TPC TUTOR PERINI CORP United States 2681760 61.83 1,001,732 61,937,089.56
    0.64 TTEK TETRA TECH INC United States 2883890 35.71 1,672,603 59,728,653.13
    0.63 RRX REGAL REXNORD CORP United States 2730082 143.72 413,459 59,422,327.48
    0.59 STRL STERLING INFRAST United States 2632876 286.71 191,880 55,013,914.80
    0.58 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 189.10 289,246 54,696,418.60
    0.55 AA ALCOA CORP United States BYNF418 32.04 1,612,588 51,667,319.52
    0.53 EXP EAGLE MATERIALS INC United States 2191399 237.48 209,265 49,696,252.20
    0.53 ZWS Zurn Elkay Water Solution United States BMV1ZD3 46.66 1,059,672 49,444,295.52
    0.51 VMI VALMONT INDUSTRIES United States 2926825 379.57 125,006 47,448,527.42
    0.49 DY DYCOM INDUSTRIES INC United States 2289841 252.50 182,110 45,982,775.00
    0.46 LPX LOUISIANA-PACIFIC CORP United States 2535243 99.28 438,580 43,542,222.40
    0.45 CMC COMMERCIAL METALS CO United States 2213260 59.79 709,471 42,419,271.09
    0.44 CALX CALIX INC United States B3S4L67 61.10 675,572 41,277,449.20
    0.43 ROAD CONSTRUCTION P-A United States BDT5M66 123.48 323,446 39,939,112.08
    0.42 PLPC PREFORMED LINE United States 2798466 192.54 203,683 39,217,124.82
    0.42 PRIM PRIMORIS SERVICES CORP United States B1GC200 115.96 335,643 38,921,162.28
    0.38 IIIN INSTEEL INDUSTRIES INC United States 2325875 38.87 921,835 35,831,726.45
    0.38 ASTE ASTEC INDUSTRIES INC United States 2060370 47.00 760,155 35,727,285.00
    0.38 TITN TITAN MACHINERY INC United States B29H3T5 21.04 1,691,786 35,595,177.44
    0.36 CLF CLEVELAND-CLIFFS INC United States BYVZ186 11.02 3,083,507 33,980,247.14
    0.36 BMI BADGER METER INC United States 2069128 182.71 183,543 33,535,141.53
    0.33 AGX ARGAN INC United States 2804501 203.84 152,857 31,158,370.88
    0.33 GVA GRANITE CONSTRUCTION INC United States 2381189 108.17 287,731 31,123,862.27
    0.33 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 178.25 172,703 30,784,309.75
    0.33 RAL RALLIANT CORP United States BTNMGM9 42.33 724,682 30,675,789.06
    0.33 DXPE DXP ENTERPRISES INC United States 2276627 122.66 249,640 30,620,842.40
    0.33 DNOW DNOW INC United States BMH0MV1 15.78 1,935,909 30,548,644.02
    0.32 MTUS METALLUS INC United States BNBPMX1 16.82 1,804,443 30,350,731.26
    0.32 MWA MUELLER WATER-A United States B15RZR4 26.77 1,126,544 30,157,582.88
    0.32 GRC GORMAN-RUPP CO United States 2379281 42.97 700,550 30,102,633.50
    0.32 HRI HERC HOLDINGS INC United States BZBZ020 138.02 216,020 29,815,080.40
    0.32 RYI RYERSON HOLDING CORP United States B3TPPZ6 22.86 1,301,770 29,758,462.20
    0.32 ACA ARCOSA INC United States BGPZ5W8 97.02 304,634 29,555,590.68
    0.32 MTRN MATERION CORP United States 2149622 113.12 261,075 29,532,804.00
    0.31 CENX CENTURY ALUMINUM COMPANY United States 2186254 21.73 1,348,765 29,308,663.45
    0.31 CTOS CUSTOM TRUCK ONE United States BL66YS4 5.89 4,973,104 29,291,582.56
    0.31 TEX TEREX CORP United States 2884224 52.69 546,136 28,775,905.84
    0.30 KNF KNIFE RIVER CORP United States BPLL4V5 80.18 353,736 28,362,552.48
    0.30 CSW CSW INDUSTRIALS INC United States BYQD1J6 266.57 104,949 27,976,254.93
    0.30 NWPX NWPX INFRASTRUCTURE INC United States 2035925 52.12 535,365 27,903,223.80
    0.29 USLM US LIME & MINERA United States 2724115 122.62 225,035 27,593,791.70
    0.28 CTRI CENTURI HOLDINGS INC United States BMDPVF7 21.68 1,231,250 26,693,500.00
    0.28 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 60.71 435,279 26,425,788.09
    0.28 MRC MRC GLOBAL INC United States B7M66F1 14.83 1,772,103 26,280,287.49
    0.27 POWL POWELL INDUSTRIES INC United States 2697422 272.40 91,413 24,900,901.20
    0.25 MDU MDU RESOURCES GROUP INC United States 2547323 16.10 1,477,105 23,781,390.50
    0.24 MTX MINERALS TECHNOLOGIES INC United States 2595612 64.17 352,605 22,626,662.85
    0.24 EXPO EXPONENT INC United States 2330318 71.00 316,882 22,498,622.00
    0.21 WNC WABASH NATIONAL CORP United States 2932048 11.49 1,696,690 19,494,968.10
    0.20 TRN TRINITY INDUSTRIES INC United States 2904627 28.33 678,819 19,230,942.27
    0.19 ATKR Atkore Inc United States BDHF495 58.52 308,259 18,039,316.68
    0.19 GBX GREENBRIER COMPANIES INC United States 2387530 46.46 379,437 17,628,643.02
    0.11 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 14.91 715,207 10,663,736.37
    0.10 RTYU5 Index E-MINI RUSS 2000 SEP25 United States 119,920.00 76 9,113,920.00
    0.08 OTHER PAYABLE & RECEIVABLES United States 1.00 7,874,739 7,874,739.03
    0.03 CASH United States 1.00 3,144,934 3,144,934.18
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 24.09 46,551 1,121,413.59
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 08/31/25

    Sector Weight (%)
    Industrials 73.0
    Materials 21.0
    Utilities 3.1
    Information Technology 2.1
    Consumer Discretionary 0.8

    Source: AltaVista Research, LLC

    ETF Characteristics As of 09/08/25

    Return on Equity 14.00%
    Weighted Avg. Market Cap 44,261 M
    2024 2025
    Price-to-earnings 25.46 25.05
    Price-to-book value 3.70 3.36

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 08/31/25

    Versus Beta
    S&P 500 1.24
    MSCI EAFE 0.88
    MSCI Emg. Mkts 0.59
    Standard Deviation 22.90%

    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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