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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 11/30/24

    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 12/20/24

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $8.75 billion
    NAV $41.10

    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 12/20/24

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 212,930,000
    Number of Holdings 103
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 12/20/24

    30-Day SEC Yield 0.49%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 12/20/24

    NAV $41.10 Daily Change $0.36 0.88%
    Market Price $41.08 Daily Change $0.33 0.81%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 11/29/24)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 11.14% 18.33% 33.01% 46.08% 65.95% 219.54% 03/06/17
    Returns (as of 12/19/24)
    		Return PAVE Return Index
    Since Inception 184.80% 197.05%
    12 Months 18.49% 19.04%
    24 Months 55.14% 57.23%
    Last 60 Trading Days 0.70% 0.82%
    Last 75 Trading Days 8.05% 8.20%
    Monthly Returns (through 12/19/24)
    		Return PAVE Return Index
    Dec 2024 -10.88% -10.86%
    Nov 2024 11.14% 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%
    Dec 2022 -4.67% -4.63%

    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 12/20/24

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.72 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 377.11 863,636 325,685,771.96
    3.57 PWR QUANTA SERVICES INC United States 2150204 328.41 952,589 312,839,753.49
    3.47 ETN EATON CORP PLC United States B8KQN82 338.12 898,653 303,852,552.36
    3.44 PH PARKER HANNIFIN CORP United States 2671501 647.20 466,061 301,634,679.20
    3.42 HWM HOWMET AEROSPACE INC United States BKLJ8V2 110.83 2,699,537 299,189,685.71
    3.23 EMR EMERSON ELECTRIC CO United States 2313405 124.09 2,282,470 283,231,702.30
    3.12 URI UNITED RENTALS INC United States 2134781 722.64 378,253 273,340,747.92
    3.02 SRE SEMPRA United States 2138158 86.81 3,048,233 264,617,106.73
    2.79 DE DEERE & CO United States 2261203 432.49 564,379 244,088,273.71
    2.69 FAST FASTENAL CO United States 2332262 74.82 3,145,347 235,334,862.54
    2.66 MLM MARTIN MARIETTA MATERIALS United States 2572079 533.69 437,069 233,259,354.61
    2.62 VMC VULCAN MATERIALS CO United States 2931205 263.13 871,248 229,251,486.24
    2.42 NSC NORFOLK SOUTHERN CORP United States 2641894 234.15 905,208 211,954,453.20
    2.38 ROK ROCKWELL AUTOMATION INC United States 2754060 289.79 718,694 208,270,334.26
    2.32 UNP UNION PACIFIC CORP United States 2914734 226.32 898,507 203,350,104.24
    2.28 CSX CSX CORP United States 2160753 31.85 6,266,854 199,599,299.90
    1.96 FTV FORTIVE CORP United States BYT3MK1 74.45 2,304,556 171,574,194.20
    1.71 HUBB HUBBELL INC United States BDFG6S3 426.80 351,756 150,129,460.80
    1.69 NUE NUCOR CORP United States 2651086 116.58 1,273,265 148,437,233.70
    1.64 EME EMCOR GROUP INC United States 2474164 465.82 308,376 143,647,708.32
    1.40 STLD STEEL DYNAMICS INC United States 2849472 115.69 1,061,287 122,780,293.03
    1.39 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 150.50 808,985 121,752,242.50
    1.38 CSL CARLISLE COS INC United States 2176318 378.27 319,299 120,781,232.73
    1.34 TRMB TRIMBLE INC United States 2903958 71.64 1,631,871 116,907,238.44
    1.28 J JACOBS SOLUTIONS INC United States BNGC0D3 135.75 828,637 112,487,472.75
    1.26 PNR PENTAIR PLC United States BLS09M3 101.95 1,084,328 110,547,239.60
    1.21 RPM RPM INTERNATIONAL INC United States 2756174 125.29 845,447 105,926,054.63
    1.20 IEX IDEX CORP United States 2456612 212.38 496,000 105,340,480.00
    1.16 RS RELIANCE INC United States 2729068 269.02 377,070 101,439,371.40
    1.10 ACM AECOM United States B1VZ431 107.99 892,167 96,345,114.33
    1.09 WLK Westlake Corporation United States B01ZP20 113.23 840,466 95,165,965.18
    1.07 GGG GRACO INC United States 2380443 84.71 1,107,346 93,803,279.66
    0.81 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 189.75 375,472 71,245,812.00
    0.81 MTZ MASTEC INC United States 2155306 136.56 517,203 70,629,241.68
    0.80 TTEK TETRA TECH INC United States 2883890 40.20 1,747,307 70,241,741.40
    0.79 AGX ARGAN INC United States 2804501 139.33 497,435 69,307,618.55
    0.78 POWL POWELL INDUSTRIES INC United States 2697422 245.80 279,058 68,592,456.40
    0.78 RRX REGAL REXNORD CORP United States 2730082 155.96 435,285 67,887,048.60
    0.76 WWD WOODWARD INC United States 2948089 168.70 394,283 66,515,542.10
    0.76 TPC TUTOR PERINI CORP United States 2681760 25.65 2,577,488 66,112,567.20
    0.74 BLD TOPBUILD CORP United States BZ0P3W2 310.28 208,576 64,716,961.28
    0.73 USLM US LIME & MINERA United States 2724115 132.95 478,267 63,585,597.65
    0.70 AYI ACUITY BRANDS INC United States 2818461 302.70 202,131 61,185,053.70
    0.68 MLI MUELLER INDUSTRIES INC United States 2609717 80.18 745,069 59,739,632.42
    0.68 WCC WESCO INTERNATIONAL INC United States 2416973 178.09 335,297 59,713,042.73
    0.67 WMS ADVANCED DRAINAG United States BP7RS59 115.15 511,363 58,883,449.45
    0.66 RBC RBC BEARINGS INC United States B0GLYB5 306.28 190,287 58,281,102.36
    0.65 CR CRANE CO United States BNYD4F8 152.80 372,999 56,994,247.20
    0.65 EXP EAGLE MATERIALS INC United States 2191399 248.30 228,202 56,662,556.60
    0.63 CRS CARPENTER TECHNOLOGY United States 2177504 169.97 324,947 55,231,241.59
    0.62 PRIM PRIMORIS SERVICES CORP United States B1GC200 80.65 673,922 54,351,809.30
    0.61 DXPE DXP ENTERPRISES INC United States 2276627 78.88 677,092 53,409,016.96
    0.61 STRL STERLING INFRAST United States 2632876 175.20 303,778 53,221,905.60
    0.56 LPX LOUISIANA-PACIFIC CORP United States 2535243 104.40 473,425 49,425,570.00
    0.55 ROAD CONSTRUCTION P-A United States BDT5M66 92.77 523,165 48,534,017.05
    0.52 ATI ATI Inc United States 2526117 54.46 837,708 45,621,577.68
    0.50 X UNITED STATES STEEL CORP United States 2824770 30.14 1,464,891 44,151,814.74
    0.50 AA ALCOA CORP United States BYNF418 37.84 1,166,125 44,126,170.00
    0.50 GVA GRANITE CONSTRUCTION INC United States 2381189 90.67 483,398 43,829,696.66
    0.49 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 143.55 299,720 43,024,806.00
    0.49 ZWS Zurn Elkay Water Solution United States BMV1ZD3 37.48 1,134,968 42,538,600.64
    0.48 VMI VALMONT INDUSTRIES United States 2926825 308.21 137,070 42,246,344.70
    0.48 BMI BADGER METER INC United States 2069128 217.72 191,624 41,720,377.28
    0.45 SUM SUMMIT MATERIA-A United States BW9JPS4 50.50 780,766 39,428,683.00
    0.44 KNF KNIFE RIVER CORP United States BPLL4V5 105.71 368,886 38,994,939.06
    0.44 CMC COMMERCIAL METALS CO United States 2213260 50.27 764,444 38,428,599.88
    0.43 NWPX NORTHWEST PIPE CO United States 2035925 49.27 762,456 37,566,207.12
    0.42 CSWI CSW INDUSTRIALS INC United States BYQD1J6 358.41 102,585 36,767,489.85
    0.40 CENX CENTURY ALUMINUM COMPANY United States 2186254 18.33 1,933,002 35,431,926.66
    0.40 MWA MUELLER WATER-A United States B15RZR4 22.94 1,531,256 35,127,012.64
    0.40 HRI HERC HOLDINGS INC United States BZBZ020 187.33 184,928 34,642,562.24
    0.38 DY DYCOM INDUSTRIES INC United States 2289841 173.76 191,570 33,287,203.20
    0.36 ACA ARCOSA INC United States BGPZ5W8 99.35 318,563 31,649,234.05
    0.36 CLF CLEVELAND-CLIFFS INC United States BYVZ186 9.38 3,317,133 31,114,707.54
    0.35 TRN TRINITY INDUSTRIES INC United States 2904627 35.76 851,843 30,461,905.68
    0.34 EXPO EXPONENT INC United States 2330318 90.67 331,185 30,028,543.95
    0.34 GBX GREENBRIER COMPANIES INC United States 2387530 62.35 475,580 29,652,413.00
    0.32 DNOW DNOW INC United States BMH0MV1 12.89 2,209,409 28,479,282.01
    0.30 MRC MRC GLOBAL INC United States B7M66F1 12.55 2,100,886 26,366,119.30
    0.29 GRC GORMAN-RUPP CO United States 2379281 39.13 656,075 25,672,214.75
    0.28 MTX MINERALS TECHNOLOGIES INC United States 2595612 75.62 328,959 24,875,879.58
    0.28 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 153.30 157,565 24,154,714.50
    0.28 MDU MDU RESOURCES GROUP INC United States 2547323 18.10 1,329,920 24,071,552.00
    0.26 ECG EVERUS CONSTRUCTION GROUP United States BSVLTM2 67.09 333,225 22,356,065.25
    0.24 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 36.56 579,496 21,186,373.76
    0.24 CXT CRANE NXT CO United States BQ7W2W6 56.44 370,598 20,916,551.12
    0.24 HEES H&E EQUIPMENT SE United States B0WR848 48.79 427,977 20,880,997.83
    0.24 ASTE ASTEC INDUSTRIES INC United States 2060370 33.29 622,908 20,736,607.32
    0.23 ATKR Atkore Inc United States BDHF495 83.40 241,382 20,131,258.80
    0.22 TEX TEREX CORP United States 2884224 45.07 438,247 19,751,792.29
    0.21 MTRN MATERION CORP United States 2149622 99.54 183,126 18,228,362.04
    0.21 IIIN INSTEEL INDUSTRIES INC United States 2325875 28.32 639,393 18,107,609.76
    0.20 CALX CALIX INC United States B3S4L67 35.36 491,685 17,385,981.60
    0.19 CTOS CUSTOM TRUCK ONE United States BL66YS4 4.93 3,448,678 17,001,982.54
    0.19 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 60.61 272,000 16,485,920.00
    0.18 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 19.17 825,147 15,818,067.99
    0.18 MTUS METALLUS INC United States BNBPMX1 14.41 1,070,787 15,430,040.67
    0.17 WNC WABASH NATIONAL CORP United States 2932048 17.01 860,033 14,629,161.33
    0.15 RYI RYERSON HOLDING CORP United States B3TPPZ6 19.54 654,567 12,790,239.18
    0.13 CASH United States 1.00 11,500,561 11,500,561.11
    0.12 TITN TITAN MACHINERY INC United States B29H3T5 13.19 806,947 10,643,630.93
    0.11 RTYZ4 Index E-MINI RUSS 2000 DEC24 United States 109,702.50 85 9,324,712.50
    0.03 OTHER PAYABLE & RECEIVABLES United States 1.00 2,316,360 2,316,359.99
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 11/30/24

    Sector Weight (%)
    Industrials 74.5
    Materials 19.7
    Utilities 3.2
    Information Technology 1.8
    Consumer Discretionary 0.8

    Source: AltaVista Research, LLC

    ETF Characteristics As of 12/20/24

    Return on Equity 15.00%
    Weighted Avg. Market Cap 42,865 M
    2023 2024
    Price-to-earnings 22.18 21.98
    Price-to-book value 3.49 3.11

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 11/30/24

    Versus Beta
    S&P 500 1.25
    MSCI EAFE 1.14
    MSCI Emg. Mkts 0.73
    Standard Deviation 25.10%

    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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