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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 02/04/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $8.79 billion
    NAV $41.72

    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 02/04/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 210,740,000
    Number of Holdings 106
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 02/04/25

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

    ETF Prices As of 02/04/25

    NAV $41.72 Daily Change $0.08 0.19%
    Market Price $41.70 Daily Change $0.03 0.07%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 01/31/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 4.65% 6.25% 4.65% 24.04% 46.44% 196.86% 03/06/17
    Returns (as of 02/03/25)
    		Return PAVE Return Index
    Since Inception 192.09% 204.85%
    12 Months 10.68% 11.20%
    24 Months 44.09% 45.94%
    Last 60 Trading Days 1.18% 1.37%
    Last 75 Trading Days -0.21% -0.02%
    Monthly Returns (through 02/03/25)
    		Return PAVE Return Index
    Feb 2025 -1.61% -1.59%
    Jan 2025 4.65% 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%
    Feb 2023 0.80% 0.89%

    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 02/04/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.16 PH PARKER HANNIFIN CORP United States 2671501 689.70 403,582 278,350,505.40
    3.11 DE DEERE & CO United States 2261203 472.27 578,680 273,293,203.60
    3.08 NSC NORFOLK SOUTHERN CORP United States 2641894 252.92 1,072,511 271,259,482.12
    3.07 SRE SEMPRA United States 2138158 81.43 3,317,388 270,134,904.84
    3.07 UNP UNION PACIFIC CORP United States 2914734 243.50 1,107,491 269,674,058.50
    3.06 HWM HOWMET AEROSPACE INC United States BKLJ8V2 125.48 2,148,755 269,625,777.40
    3.06 CRH CRH PLC United States B01ZKD6 98.61 2,732,926 269,493,832.86
    3.05 CSX CSX CORP United States 2160753 32.87 8,159,043 268,187,743.41
    3.04 EMR EMERSON ELECTRIC CO United States 2313405 127.69 2,092,135 267,144,718.15
    3.03 FAST FASTENAL CO United States 2332262 73.19 3,640,563 266,452,805.97
    2.98 URI UNITED RENTALS INC United States 2134781 753.49 348,376 262,497,832.24
    2.77 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 355.49 685,583 243,717,900.67
    2.66 ETN EATON CORP PLC United States B8KQN82 314.70 742,439 233,645,553.30
    2.64 PWR QUANTA SERVICES INC United States 2150204 299.98 773,627 232,072,627.46
    2.62 VMC VULCAN MATERIALS CO United States 2931205 272.07 848,141 230,753,721.87
    2.40 MLM MARTIN MARIETTA MATERIALS United States 2572079 537.30 392,548 210,916,040.40
    2.24 NUE NUCOR CORP United States 2651086 130.82 1,508,246 197,308,741.72
    2.23 ROK ROCKWELL AUTOMATION INC United States 2754060 270.34 726,027 196,274,139.18
    2.03 FTV FORTIVE CORP United States BYT3MK1 80.11 2,228,720 178,542,759.20
    1.57 HUBB HUBBELL INC United States BDFG6S3 400.91 344,204 137,994,825.64
    1.50 EME EMCOR GROUP INC United States 2474164 445.00 295,610 131,546,450.00
    1.40 STLD STEEL DYNAMICS INC United States 2849472 126.38 976,303 123,385,173.14
    1.37 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 163.43 737,971 120,606,600.53
    1.34 TRMB TRIMBLE INC United States 2903958 74.35 1,579,727 117,452,702.45
    1.25 CSL CARLISLE COS INC United States 2176318 376.31 291,349 109,637,542.19
    1.21 J JACOBS SOLUTIONS INC United States BNGC0D3 133.99 797,183 106,814,550.17
    1.21 IEX IDEX CORP United States 2456612 218.65 486,752 106,428,324.80
    1.18 PNR PENTAIR PLC United States BLS09M3 98.26 1,059,345 104,091,239.70
    1.15 RPM RPM INTERNATIONAL INC United States 2756174 122.37 824,249 100,863,350.13
    1.11 RS RELIANCE INC United States 2729068 281.71 347,084 97,777,033.64
    1.04 WLK Westlake Corporation United States B01ZP20 111.23 825,037 91,768,865.51
    1.03 GGG GRACO INC United States 2380443 83.90 1,082,372 90,811,010.80
    1.01 ACM AECOM United States B1VZ431 104.18 850,295 88,583,733.10
    0.85 RBC RBC BEARINGS INC United States B0GLYB5 368.82 202,051 74,520,449.82
    0.81 MTZ MASTEC INC United States 2155306 140.32 507,784 71,252,250.88
    0.80 WWD WOODWARD INC United States 2948089 184.50 380,659 70,231,585.50
    0.80 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 193.38 361,645 69,934,910.10
    0.75 RRX REGAL REXNORD CORP United States 2730082 154.89 424,403 65,735,780.67
    0.72 BLD TOPBUILD CORP United States BZ0P3W2 333.10 189,063 62,976,885.30
    0.72 AYI ACUITY BRANDS INC United States 2818461 317.09 198,448 62,925,876.32
    0.71 CR CRANE CO United States BNYD4F8 171.23 366,757 62,799,801.11
    0.70 CRS CARPENTER TECHNOLOGY United States 2177504 192.08 319,376 61,345,742.08
    0.68 AA ALCOA CORP United States BYNF418 36.24 1,662,857 60,261,937.68
    0.67 TTEK TETRA TECH INC United States 2883890 34.54 1,717,126 59,309,532.04
    0.67 SUM SUMMIT MATERIA-A United States BW9JPS4 52.33 1,131,632 59,218,302.56
    0.67 WMS ADVANCED DRAINAG United States BP7RS59 117.56 499,065 58,670,081.40
    0.66 ATI ATI Inc United States 2526117 63.72 918,191 58,507,130.52
    0.65 WCC WESCO INTERNATIONAL INC United States 2416973 181.81 313,936 57,076,704.16
    0.63 MLI MUELLER INDUSTRIES INC United States 2609717 76.28 728,535 55,572,649.80
    0.62 X UNITED STATES STEEL CORP United States 2824770 37.80 1,442,134 54,512,665.20
    0.62 EXP EAGLE MATERIALS INC United States 2191399 253.33 214,941 54,451,003.53
    0.60 LPX LOUISIANA-PACIFIC CORP United States 2535243 116.62 449,989 52,477,717.18
    0.50 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 148.91 296,845 44,203,188.95
    0.49 ZWS Zurn Elkay Water Solution United States BMV1ZD3 39.41 1,086,573 42,821,841.93
    0.48 VMI VALMONT INDUSTRIES United States 2926825 326.19 128,298 41,849,524.62
    0.46 BMI BADGER METER INC United States 2069128 216.80 188,261 40,814,984.80
    0.42 HRI HERC HOLDINGS INC United States BZBZ020 204.07 183,151 37,375,624.57
    0.42 KNF KNIFE RIVER CORP United States BPLL4V5 102.34 362,419 37,089,960.46
    0.40 CMC COMMERCIAL METALS CO United States 2213260 47.94 727,236 34,863,693.84
    0.39 DY DYCOM INDUSTRIES INC United States 2289841 185.64 186,690 34,657,131.60
    0.39 CSWI CSW INDUSTRIALS INC United States BYQD1J6 319.85 107,639 34,428,334.15
    0.38 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.52 3,160,689 33,250,448.28
    0.38 TITN TITAN MACHINERY INC United States B29H3T5 18.99 1,747,044 33,176,365.56
    0.36 ACA ARCOSA INC United States BGPZ5W8 101.36 312,034 31,627,766.24
    0.34 EXPO EXPONENT INC United States 2330318 92.27 324,843 29,973,263.61
    0.34 DNOW DNOW INC United States BMH0MV1 15.10 1,983,452 29,950,125.20
    0.34 PLPC PREFORMED LINE United States 2798466 142.77 209,771 29,949,005.67
    0.34 RYI RYERSON HOLDING CORP United States B3TPPZ6 22.19 1,345,371 29,853,782.49
    0.32 CALX CALIX INC United States B3S4L67 40.75 698,492 28,463,549.00
    0.32 CTRI CENTURI HOLDINGS INC United States BMDPVF7 22.12 1,273,743 28,175,195.16
    0.32 NWPX NORTHWEST PIPE CO United States 2035925 50.47 548,737 27,694,756.39
    0.31 MTUS METALLUS INC United States BNBPMX1 14.74 1,863,556 27,468,815.44
    0.31 MTX MINERALS TECHNOLOGIES INC United States 2595612 75.90 361,244 27,418,419.60
    0.31 STRL STERLING INFRAST United States 2632876 138.57 196,671 27,252,700.47
    0.31 HEES H&E EQUIPMENT SE United States B0WR848 88.20 308,306 27,192,589.20
    0.31 ROAD CONSTRUCTION P-A United States BDT5M66 81.95 331,465 27,163,556.75
    0.31 GRC GORMAN-RUPP CO United States 2379281 37.80 717,660 27,127,548.00
    0.31 IIIN INSTEEL INDUSTRIES INC United States 2325875 28.58 943,563 26,967,030.54
    0.31 MTRN MATERION CORP United States 2149622 99.65 270,159 26,921,344.35
    0.30 MDU MDU RESOURCES GROUP INC United States 2547323 17.65 1,512,761 26,700,231.65
    0.30 MWA MUELLER WATER-A United States B15RZR4 23.08 1,153,764 26,628,873.12
    0.30 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 59.62 445,295 26,548,487.90
    0.30 TEX TEREX CORP United States 2884224 47.37 559,218 26,490,156.66
    0.30 CTOS CUSTOM TRUCK ONE United States BL66YS4 5.20 5,091,435 26,475,462.00
    0.30 WNC WABASH NATIONAL CORP United States 2932048 15.07 1,755,855 26,460,734.85
    0.30 MRC MRC GLOBAL INC United States B7M66F1 14.48 1,815,852 26,293,536.96
    0.30 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 35.42 737,141 26,109,534.22
    0.30 USLM US LIME & MINERA United States 2724115 112.31 230,827 25,924,180.37
    0.29 ASTE ASTEC INDUSTRIES INC United States 2060370 33.26 778,090 25,879,273.40
    0.29 TRN TRINITY INDUSTRIES INC United States 2904627 37.20 695,601 25,876,357.20
    0.29 PRIM PRIMORIS SERVICES CORP United States B1GC200 75.14 344,034 25,850,714.76
    0.29 GVA GRANITE CONSTRUCTION INC United States 2381189 87.16 294,924 25,705,575.84
    0.29 CENX CENTURY ALUMINUM COMPANY United States 2186254 18.47 1,381,889 25,523,489.83
    0.29 DXPE DXP ENTERPRISES INC United States 2276627 98.70 256,240 25,290,888.00
    0.28 GBX GREENBRIER COMPANIES INC United States 2387530 64.54 388,658 25,083,987.32
    0.28 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 141.09 176,708 24,931,731.72
    0.27 TPC TUTOR PERINI CORP United States 2681760 23.46 1,028,105 24,119,343.30
    0.25 POWL POWELL INDUSTRIES INC United States 2697422 233.14 94,500 22,031,730.00
    0.23 AGX ARGAN INC United States 2804501 130.76 156,854 20,510,229.04
    0.23 ATKR Atkore Inc United States BDHF495 64.13 315,578 20,238,017.14
    0.13 CASH United States 1.00 11,645,388 11,645,387.68
    0.06 RTYH5 Index E-MINI RUSS 2000 MAR25 United States 114,940.00 48 5,517,120.00
    0.00 CXT CRANE NXT CO United States BQ7W2W6 63.86 544 34,739.84
    0.00 ECG EVERUS CONSTRUCTION GROUP United States BSVLTM2 67.61 512 34,616.32
    0.00 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 20.50 1,248 25,584.00
    -0.07 OTHER PAYABLE & RECEIVABLES United States 1.00 -5,872,751 -5,872,751.23
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 01/31/25

    Sector Weight (%)
    Industrials 71.4
    Materials 22.4
    Utilities 3.4
    Information Technology 2.1
    Consumer Discretionary 0.7

    Source: AltaVista Research, LLC

    ETF Characteristics As of 02/03/25

    Return on Equity 15.10%
    Weighted Avg. Market Cap 42,545 M
    2024 2025
    Price-to-earnings 21.49 19.56
    Price-to-book value 3.14 2.79

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 01/31/25

    Versus Beta
    S&P 500 1.27
    MSCI EAFE 1.15
    MSCI Emg. Mkts 0.75
    Standard Deviation 25.50%

    Source: AltaVista Research, LLC

    ETF Documents

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