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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    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 $1tn 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 20252Politico, 2024

    Key Information As of 11/14/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $9.52 billion
    NAV $46.99

    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 11/14/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 202,640,000
    Number of Holdings 99
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 11/14/25

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

    ETF Prices As of 11/14/25

    NAV $46.99 Daily Change -$0.10 -0.21%
    Market Price $46.99 Daily Change -$0.12 -0.25%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 10/31/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 1.28% 26.01% 19.59% 17.99% 54.71% 239.24% 03/06/17
    Returns (as of 11/13/25)
    		Return PAVE Return Index
    Since Inception 231.16% 246.89%
    12 Months 3.65% 4.09%
    24 Months 51.01% 52.70%
    Last 60 Trading Days 2.65% 2.78%
    Last 75 Trading Days 2.23% 2.37%
    Monthly Returns (through 11/13/25)
    		Return PAVE Return Index
    Nov 2025 -2.39% -2.38%
    Oct 2025 1.28% 1.33%
    Sep 2025 2.48% 2.54%
    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%

    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 11/14/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.50 HWM HOWMET AEROSPACE INC United States BKLJ8V2 203.29 2,108,880 428,714,215.20
    3.46 PH PARKER HANNIFIN CORP United States 2671501 831.95 396,030 329,477,158.50
    3.42 PWR QUANTA SERVICES INC United States 2150204 429.30 759,449 326,031,455.70
    3.14 SRE SEMPRA United States 2138158 92.00 3,253,160 299,290,720.00
    3.14 NSC NORFOLK SOUTHERN CORP United States 2641894 283.98 1,051,702 298,662,333.96
    3.08 CRH CRH PLC United States B01ZKD6 109.57 2,679,974 293,644,751.18
    3.03 FAST FASTENAL CO United States 2332262 40.45 7,139,916 288,809,602.20
    2.99 URI UNITED RENTALS INC United States 2134781 834.03 341,591 284,897,141.73
    2.95 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 418.16 673,014 281,427,534.24
    2.93 CSX CSX CORP United States 2160753 34.90 8,000,773 279,226,977.70
    2.84 DE DEERE & CO United States 2261203 476.23 567,465 270,243,856.95
    2.81 ROK ROCKWELL AUTOMATION INC United States 2754060 375.75 711,798 267,458,098.50
    2.75 EMR EMERSON ELECTRIC CO United States 2313405 127.58 2,053,781 262,021,379.98
    2.70 ETN EATON CORP PLC United States B8KQN82 352.39 728,676 256,778,135.64
    2.54 UNP UNION PACIFIC CORP United States 2914734 223.02 1,085,952 242,189,015.04
    2.45 VMC VULCAN MATERIALS CO United States 2931205 280.58 831,610 233,333,133.80
    2.41 MLM MARTIN MARIETTA MATERIALS United States 2572079 596.44 384,865 229,548,880.60
    2.29 NUE NUCOR CORP United States 2651086 147.78 1,478,636 218,512,828.08
    1.88 EME EMCOR GROUP INC United States 2474164 619.86 289,727 179,590,178.22
    1.56 STLD STEEL DYNAMICS INC United States 2849472 155.41 958,752 148,999,648.32
    1.54 HUBB HUBBELL INC United States BDFG6S3 432.82 337,916 146,256,803.12
    1.27 J JACOBS SOLUTIONS INC United States BNGC0D3 154.41 780,873 120,574,599.93
    1.26 TRMB TRIMBLE INC United States 2903958 77.56 1,547,840 120,050,470.40
    1.18 FTV FORTIVE CORP United States BYT3MK1 51.59 2,184,745 112,710,994.55
    1.17 ACM AECOM United States B1VZ431 133.52 835,275 111,525,918.00
    1.14 PNR PENTAIR PLC United States BLS09M3 104.33 1,040,533 108,558,807.89
    1.09 CRS CARPENTER TECHNOLOGY United States 2177504 330.50 313,958 103,763,119.00
    1.02 WWD WOODWARD INC United States 2948089 260.44 374,138 97,440,500.72
    1.01 MTZ MASTEC INC United States 2155306 192.22 498,687 95,857,615.14
    0.97 RS RELIANCE INC United States 2729068 270.21 340,771 92,079,731.91
    0.94 ATI ATI INC United States 2526117 99.37 898,288 89,262,878.56
    0.92 CSL CARLISLE COS INC United States 2176318 306.54 285,445 87,500,310.30
    0.91 RPM RPM INTERNATIONAL INC United States 2756174 106.74 809,600 86,416,704.00
    0.90 RBC RBC BEARINGS INC United States B0GLYB5 432.04 197,740 85,431,589.60
    0.90 GGG GRACO INC United States 2380443 80.15 1,063,340 85,226,701.00
    0.84 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 225.99 355,255 80,284,077.45
    0.83 WCC WESCO INTERNATIONAL INC United States 2416973 256.75 308,606 79,234,590.50
    0.82 IEX IDEX CORP United States 2456612 164.49 476,638 78,402,184.62
    0.82 BLD TOPBUILD CORP United States BZ0P3W2 418.99 185,807 77,851,274.93
    0.80 MLI MUELLER INDUSTRIES INC United States 2609717 106.92 716,258 76,582,305.36
    0.79 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 103.44 724,664 74,959,244.16
    0.74 WMS ADVANCED DRAINAG United States BP7RS59 144.24 488,269 70,427,920.56
    0.72 AYI ACUITY INC United States 2818461 350.47 195,020 68,348,659.40
    0.70 CR CRANE CO United States BNYD4F8 183.70 360,225 66,173,332.50
    0.69 STRL STERLING INFRAST United States 2632876 338.66 193,550 65,547,643.00
    0.65 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 211.43 291,991 61,735,657.13
    0.64 AA ALCOA CORP United States BYNF418 37.59 1,625,948 61,119,385.32
    0.64 TTEK TETRA TECH INC United States 2883890 36.21 1,686,464 61,066,861.44
    0.63 TPC TUTOR PERINI CORP United States 2681760 59.08 1,010,082 59,675,644.56
    0.60 RRX REGAL REXNORD CORP United States 2730082 137.38 416,966 57,282,789.08
    0.57 AGX ARGAN INC United States 2804501 351.64 154,193 54,220,426.52
    0.56 DY DYCOM INDUSTRIES INC United States 2289841 291.20 183,613 53,468,105.60
    0.53 WLK WESTLAKE CORPORATION United States B01ZP20 62.56 809,912 50,668,094.72
    0.53 VMI VALMONT INDUSTRIES United States 2926825 397.69 126,202 50,189,273.38
    0.52 ZWS ZURN ELKAY WATER SOLUTION United States BMV1ZD3 46.08 1,068,523 49,237,539.84
    0.48 DNOW DNOW INC United States BMH0MV1 12.49 3,647,423 45,556,313.27
    0.45 EXP EAGLE MATERIALS INC United States 2191399 202.06 211,295 42,694,267.70
    0.44 CMC COMMERCIAL METALS CO United States 2213260 58.98 715,316 42,189,337.68
    0.44 PLPC PREFORMED LINE United States 2798466 204.86 205,353 42,068,615.58
    0.42 CALX CALIX INC United States B3S4L67 58.70 681,250 39,989,375.00
    0.42 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 229.44 174,206 39,969,824.64
    0.42 PRIM PRIMORIS SERVICES CORP United States B1GC200 118.04 338,482 39,954,415.28
    0.41 CENX CENTURY ALUMINUM COMPANY United States 2186254 28.78 1,359,954 39,139,476.12
    0.37 RAL RALLIANT CORP United States BTNMGM9 47.46 734,116 34,841,145.36
    0.37 ROAD CONSTRUCTION P-A United States BDT5M66 106.82 326,118 34,835,924.76
    0.35 ASTE ASTEC INDUSTRIES INC United States 2060370 43.72 766,501 33,511,423.72
    0.35 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.73 3,109,058 33,360,192.34
    0.35 LPX LOUISIANA-PACIFIC CORP United States 2535243 75.41 442,254 33,350,374.14
    0.34 BMI BADGER METER INC United States 2069128 175.90 185,046 32,549,591.40
    0.33 GRC GORMAN-RUPP CO United States 2379281 45.04 706,395 31,816,030.80
    0.32 NWPX NWPX INFRASTRUCTURE INC United States 2035925 57.18 539,874 30,869,995.32
    0.32 ACA ARCOSA INC United States BGPZ5W8 100.48 307,139 30,861,326.72
    0.32 MDU MDU RESOURCES GROUP INC United States 2547323 20.61 1,489,296 30,694,390.56
    0.32 MTRN MATERION CORP United States 2149622 116.40 263,246 30,641,834.40
    0.32 POWL POWELL INDUSTRIES INC United States 2697422 329.66 92,682 30,553,548.12
    0.31 IIIN INSTEEL INDUSTRIES INC United States 2325875 31.93 929,517 29,679,477.81
    0.31 GVA GRANITE CONSTRUCTION INC United States 2381189 102.55 290,069 29,746,575.95
    0.30 CTOS CUSTOM TRUCK ONE United States BL66YS4 5.79 5,014,353 29,033,103.87
    0.30 MTUS METALLUS INC United States BNBPMX1 15.95 1,819,473 29,020,594.35
    0.30 HRI HERC HOLDINGS INC United States BZBZ020 133.53 217,857 29,090,445.21
    0.28 USLM US LIME & MINERA United States 2724115 119.44 226,872 27,097,591.68
    0.28 TITN TITAN MACHINERY INC United States B29H3T5 15.80 1,705,814 26,951,861.20
    0.28 CSW CSW INDUSTRIALS INC United States BYQD1J6 251.39 105,784 26,593,039.76
    0.28 RYI RYERSON HOLDING CORP United States B3TPPZ6 20.18 1,312,625 26,488,772.50
    0.28 MWA MUELLER WATER-A United States B15RZR4 23.16 1,135,896 26,307,351.36
    0.27 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 59.15 438,953 25,964,069.95
    0.27 CTRI CENTURI HOLDINGS INC United States BMDPVF7 20.87 1,241,437 25,908,790.19
    0.26 TEX TEREX CORP United States 2884224 45.75 550,645 25,192,008.75
    0.26 KNF KNIFE RIVER CORP United States BPLL4V5 69.62 356,742 24,836,378.04
    0.24 DXPE DXP ENTERPRISES INC United States 2276627 90.71 251,644 22,826,627.24
    0.24 EXPO EXPONENT INC United States 2330318 69.94 319,554 22,349,606.76
    0.21 MTX MINERALS TECHNOLOGIES INC United States 2595612 57.22 355,611 20,348,061.42
    0.21 ATKR ATKORE INC United States BDHF495 65.01 310,764 20,202,767.64
    0.18 TRN TRINITY INDUSTRIES INC United States 2904627 25.46 684,497 17,427,293.62
    0.17 GBX GREENBRIER COMPANIES INC United States 2387530 42.90 382,610 16,413,969.00
    0.14 WNC WABASH NATIONAL CORP United States 2932048 7.58 1,710,718 12,967,242.44
    0.11 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 14.95 726,083 10,854,940.85
    0.10 RTYZ5 Index E-MINI RUSS 2000 DEC25 United States 119,800.00 76 9,104,800.00
    0.08 OTHER PAYABLE & RECEIVABLES United States 1.00 7,442,553 7,442,553.32
    0.08 CASH United States 1.00 7,130,512 7,130,512.30
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 22.07 46,885 1,034,751.95
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 10/31/25

    Sector Weight (%)
    Industrials 73.0
    Materials 20.7
    Utilities 3.4
    Information Technology 2.1
    Consumer Discretionary 0.8

    Source: AltaVista Research, LLC

    ETF Characteristics As of 11/14/25

    Return on Equity 13.90%
    Weighted Avg. Market Cap 45,608 M
    2024 2025
    Price-to-earnings 25.82 25.54
    Price-to-book value 3.74 3.40

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 10/31/25

    Versus Beta
    S&P 500 1.28
    MSCI EAFE 0.79
    MSCI Emg. Mkts 0.54
    Standard Deviation 21.00%

    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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