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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 04/23/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $7.20 billion
    NAV $36.90

    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 04/23/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 195,060,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.06%

    Distributions As of 04/23/25

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

    ETF Prices As of 04/23/25

    NAV $36.90 Daily Change $0.64 1.77%
    Market Price $36.90 Daily Change $0.67 1.85%

    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 04/07/25)
    		Return PAVE Return Index
    Since Inception 140.60% 151.29%
    12 Months -8.22% -7.80%
    24 Months 25.49% 27.13%
    Last 60 Trading Days -15.54% -15.45%
    Last 75 Trading Days -20.28% -20.15%
    Monthly Returns (through 04/07/25)
    		Return PAVE Return Index
    Apr 2025 -9.04% -9.04%
    Mar 2025 -6.19% -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%
    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%

    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 04/23/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.78 FAST FASTENAL CO United States 2332262 80.19 3,393,029 272,086,995.51
    3.62 HWM HOWMET AEROSPACE INC United States BKLJ8V2 129.70 2,004,392 259,969,642.40
    3.42 DE DEERE & CO United States 2261203 456.44 539,333 246,173,154.52
    3.15 UNP UNION PACIFIC CORP United States 2914734 219.78 1,032,242 226,866,146.76
    3.15 SRE SEMPRA United States 2138158 73.31 3,091,976 226,672,760.56
    3.11 CRH CRH PLC United States B01ZKD6 87.81 2,547,226 223,671,915.06
    3.08 NSC NORFOLK SOUTHERN CORP United States 2641894 221.95 999,548 221,849,678.60
    3.04 PH PARKER HANNIFIN CORP United States 2671501 580.81 376,661 218,768,475.41
    2.99 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 335.87 639,651 214,839,581.37
    2.92 CSX CSX CORP United States 2160753 27.59 7,604,757 209,815,245.63
    2.75 PWR QUANTA SERVICES INC United States 2150204 274.31 721,803 197,997,780.93
    2.74 EMR EMERSON ELECTRIC CO United States 2313405 101.07 1,952,108 197,299,555.56
    2.69 VMC VULCAN MATERIALS CO United States 2931205 244.54 790,427 193,291,018.58
    2.66 URI UNITED RENTALS INC United States 2134781 589.21 324,689 191,310,005.69
    2.66 ETN EATON CORP PLC United States B8KQN82 275.66 692,602 190,922,667.32
    2.54 MLM MARTIN MARIETTA MATERIALS United States 2572079 498.34 365,813 182,299,250.42
    2.26 ROK ROCKWELL AUTOMATION INC United States 2754060 239.83 676,577 162,263,461.91
    2.19 NUE NUCOR CORP United States 2651086 111.93 1,405,578 157,326,345.54
    1.94 FTV FORTIVE CORP United States BYT3MK1 67.06 2,076,348 139,239,896.88
    1.55 STLD STEEL DYNAMICS INC United States 2849472 122.49 911,440 111,642,285.60
    1.55 HUBB HUBBELL INC United States BDFG6S3 345.95 321,535 111,235,033.25
    1.47 EME EMCOR GROUP INC United States 2474164 384.13 275,418 105,796,316.34
    1.36 CSL CARLISLE COS INC United States 2176318 359.82 271,373 97,645,432.86
    1.28 RS RELIANCE INC United States 2729068 283.11 324,007 91,729,621.77
    1.23 J JACOBS SOLUTIONS INC United States BNGC0D3 119.20 742,544 88,511,244.80
    1.22 TRMB TRIMBLE INC United States 2903958 59.51 1,471,056 87,542,542.56
    1.21 PNR PENTAIR PLC United States BLS09M3 87.75 989,298 86,810,899.50
    1.12 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 117.26 689,122 80,806,445.72
    1.11 RPM RPM INTERNATIONAL INC United States 2756174 103.80 769,863 79,911,779.40
    1.11 GGG GRACO INC United States 2380443 78.97 1,011,014 79,839,775.58
    1.05 IEX IDEX CORP United States 2456612 167.15 453,444 75,793,164.60
    1.05 ACM AECOM United States B1VZ431 95.20 794,221 75,609,839.20
    0.99 WLK Westlake Corporation United States B01ZP20 92.46 770,744 71,262,990.24
    0.86 WWD WOODWARD INC United States 2948089 174.23 355,776 61,986,852.48
    0.85 RBC RBC BEARINGS INC United States B0GLYB5 325.48 188,085 61,217,905.80
    0.85 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 181.00 337,740 61,130,940.00
    0.79 CRS CARPENTER TECHNOLOGY United States 2177504 190.73 298,378 56,909,635.94
    0.79 X UNITED STATES STEEL CORP United States 2824770 41.99 1,348,657 56,630,107.43
    0.78 MTZ MASTEC INC United States 2155306 118.41 474,599 56,197,267.59
    0.73 BLD TOPBUILD CORP United States BZ0P3W2 295.89 176,720 52,289,680.80
    0.69 TTEK TETRA TECH INC United States 2883890 30.92 1,605,533 49,643,080.36
    0.68 MLI MUELLER INDUSTRIES INC United States 2609717 72.25 681,292 49,223,347.00
    0.68 WMS ADVANCED DRAINAG United States BP7RS59 105.94 464,443 49,203,091.42
    0.68 CR CRANE CO United States BNYD4F8 142.02 342,801 48,684,598.02
    0.63 WCC WESCO INTERNATIONAL INC United States 2416973 154.19 293,561 45,264,170.59
    0.60 AYI ACUITY INC United States 2818461 234.19 185,861 43,526,787.59
    0.60 EXP EAGLE MATERIALS INC United States 2191399 216.25 200,954 43,456,302.50
    0.60 ATI ATI Inc United States 2526117 50.41 854,654 43,083,108.14
    0.56 RRX REGAL REXNORD CORP United States 2730082 102.59 396,333 40,659,802.47
    0.54 AA ALCOA CORP United States BYNF418 25.05 1,548,055 38,778,777.75
    0.52 BMI BADGER METER INC United States 2069128 210.43 176,234 37,084,920.62
    0.50 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 129.13 277,427 35,824,148.51
    0.50 LPX LOUISIANA-PACIFIC CORP United States 2535243 84.56 420,870 35,588,767.20
    0.48 VMI VALMONT INDUSTRIES United States 2926825 286.92 119,985 34,426,096.20
    0.46 ZWS Zurn Elkay Water Solution United States BMV1ZD3 32.65 1,017,182 33,210,992.30
    0.43 CSWI CSW INDUSTRIALS INC United States BYQD1J6 304.21 100,766 30,654,024.86
    0.42 KNF KNIFE RIVER CORP United States BPLL4V5 89.51 338,953 30,339,683.03
    0.41 CMC COMMERCIAL METALS CO United States 2213260 43.26 681,191 29,468,322.66
    0.40 RYI RYERSON HOLDING CORP United States B3TPPZ6 23.09 1,249,155 28,842,988.95
    0.40 DNOW DNOW INC United States BMH0MV1 15.48 1,858,264 28,765,926.72
    0.40 IIIN INSTEEL INDUSTRIES INC United States 2325875 32.30 884,917 28,582,819.10
    0.39 DY DYCOM INDUSTRIES INC United States 2289841 160.75 174,908 28,116,461.00
    0.39 MWA MUELLER WATER-A United States B15RZR4 25.80 1,081,233 27,895,811.40
    0.37 TITN TITAN MACHINERY INC United States B29H3T5 16.52 1,624,325 26,833,849.00
    0.37 PLPC PREFORMED LINE United States 2798466 137.03 195,588 26,801,423.64
    0.36 HEES H&E EQUIPMENT SE United States B0WR848 89.97 288,953 25,997,101.41
    0.36 STRL STERLING INFRAST United States 2632876 140.08 184,262 25,811,420.96
    0.35 ASTE ASTEC INDUSTRIES INC United States 2060370 34.28 729,787 25,017,098.36
    0.34 EXPO EXPONENT INC United States 2330318 79.98 304,375 24,343,912.50
    0.33 ROAD CONSTRUCTION P-A United States BDT5M66 77.18 310,634 23,974,732.12
    0.33 CALX CALIX INC United States B3S4L67 36.92 648,599 23,946,275.08
    0.33 MDU MDU RESOURCES GROUP INC United States 2547323 16.82 1,418,855 23,865,141.10
    0.32 ACA ARCOSA INC United States BGPZ5W8 78.27 292,531 22,896,401.37
    0.32 MTUS METALLUS INC United States BNBPMX1 13.14 1,732,283 22,762,198.62
    0.31 GRC GORMAN-RUPP CO United States 2379281 33.34 673,089 22,440,787.26
    0.31 CLF CLEVELAND-CLIFFS INC United States BYVZ186 7.54 2,962,615 22,338,117.10
    0.30 CENX CENTURY ALUMINUM COMPANY United States 2186254 16.87 1,296,027 21,863,975.49
    0.30 GVA GRANITE CONSTRUCTION INC United States 2381189 77.99 276,396 21,556,124.04
    0.30 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 51.28 416,946 21,380,990.88
    0.30 NWPX NORTHWEST PIPE CO United States 2035925 41.50 514,457 21,349,965.50
    0.29 AGX ARGAN INC United States 2804501 141.36 146,684 20,735,250.24
    0.28 MTRN MATERION CORP United States 2149622 80.43 250,875 20,177,876.25
    0.28 CTRI CENTURI HOLDINGS INC United States BMDPVF7 17.02 1,183,186 20,137,825.72
    0.27 TPC TUTOR PERINI CORP United States 2681760 20.48 962,676 19,715,604.48
    0.27 USLM US LIME & MINERA United States 2724115 90.16 216,270 19,498,903.20
    0.27 MTX MINERALS TECHNOLOGIES INC United States 2595612 57.55 338,153 19,460,705.15
    0.27 DXPE DXP ENTERPRISES INC United States 2276627 80.90 239,312 19,360,340.80
    0.27 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 116.52 165,940 19,335,328.80
    0.26 MRC MRC GLOBAL INC United States B7M66F1 11.14 1,703,289 18,974,639.46
    0.26 CTOS CUSTOM TRUCK ONE United States BL66YS4 3.95 4,780,253 18,881,999.35
    0.26 PRIM PRIMORIS SERVICES CORP United States B1GC200 57.67 321,810 18,558,782.70
    0.26 ATKR Atkore Inc United States BDHF495 62.00 296,282 18,369,484.00
    0.25 TEX TEREX CORP United States 2884224 34.47 524,960 18,095,371.20
    0.25 HRI HERC HOLDINGS INC United States BZBZ020 104.84 170,429 17,867,776.36
    0.23 WNC WABASH NATIONAL CORP United States 2932048 10.11 1,631,390 16,493,352.90
    0.22 TRN TRINITY INDUSTRIES INC United States 2904627 24.58 652,772 16,045,135.76
    0.22 POWL POWELL INDUSTRIES INC United States 2697422 174.67 88,403 15,441,352.01
    0.21 GBX GREENBRIER COMPANIES INC United States 2387530 42.06 364,879 15,346,810.74
    0.13 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 13.77 693,748 9,552,909.96
    0.02 RTYM5 Index E-MINI RUSS 2000 JUN25 United States 96,305.00 19 1,829,795.00
    0.02 OTHER PAYABLE & RECEIVABLES United States 1.00 1,243,741 1,243,740.62
    0.01 CASH United States 1.00 442,788 442,787.59
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 03/31/25

    Sector Weight (%)
    Industrials 71.7
    Materials 22.2
    Utilities 3.3
    Information Technology 2.1
    Consumer Discretionary 0.7

    Source: AltaVista Research, LLC

    ETF Characteristics As of 04/22/25

    Return on Equity 14.50%
    Weighted Avg. Market Cap 39,461 M
    2024 2025
    Price-to-earnings 20.02 18.58
    Price-to-book value 2.85 2.57

    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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