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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 05/20/26

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $13.05 billion
    NAV $54.48

    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 05/20/26

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe BZX
    Shares Outstanding 239,620,000
    Number of Holdings 100
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 05/20/26

    30-Day SEC Yield 0.48%
    Distribution Frequency Semi Annually
     Distribution History

    ETF Prices As of 05/20/26

    NAV $54.48 Daily Change $0.73 1.36%
    Market Price $54.49 Daily Change $0.72 1.34%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 04/30/26)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 11.85% 21.66% 18.97% 49.38% 57.53% 302.37% 03/06/17
    Returns (as of 05/20/26)
    		Return PAVE Return Index
    Since Inception 285.73% 305.01%
    12 Months 35.94% 36.48%
    24 Months 46.23% 47.45%
    Last 60 Trading Days 0.11% 0.21%
    Last 75 Trading Days 8.19% 8.34%
    Monthly Returns (through 05/20/26)
    		Return PAVE Return Index
    May 2026 -4.13% -4.12%
    Apr 2026 12.65% 12.75%
    Mar 2026 -7.74% -7.75%
    Feb 2026 8.58% 8.63%
    Jan 2026 6.20% 6.22%
    Dec 2025 0.94% 0.96%
    Nov 2025 0.56% 0.58%
    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%

    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 05/20/26

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.30 PWR QUANTA SERVICES INC United States 2150204 709.93 791,941 562,222,674.13
    3.65 CSX CSX CORP United States 2160753 45.94 10,365,839 476,206,643.66
    3.41 HWM HOWMET AEROSPACE INC United States BKLJ8V2 261.21 1,705,245 445,427,046.45
    3.29 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 451.69 951,261 429,675,081.09
    3.26 UNP UNION PACIFIC CORP United States 2914734 265.80 1,602,881 426,045,769.80
    3.23 ETN EATON CORP PLC United States B8KQN82 379.69 1,111,031 421,847,360.39
    3.07 NSC NORFOLK SOUTHERN CORP United States 2641894 311.84 1,284,039 400,414,721.76
    3.05 DE DEERE & CO United States 2261203 560.46 710,823 398,387,858.58
    3.03 SRE SEMPRA United States 2138158 91.46 4,325,884 395,645,350.64
    2.91 ROK ROCKWELL AUTOMATION INC United States 2754060 436.23 872,441 380,584,937.43
    2.89 NUE NUCOR CORP United States 2651086 225.67 1,670,211 376,916,516.37
    2.78 URI UNITED RENTALS INC United States 2134781 936.27 388,123 363,387,921.21
    2.77 FAST FASTENAL CO United States 2332262 43.68 8,283,616 361,828,346.88
    2.59 PH PARKER HANNIFIN CORP United States 2671501 859.44 393,629 338,300,507.76
    2.51 EMR EMERSON ELECTRIC CO United States 2313405 132.86 2,470,748 328,263,579.28
    2.32 CRH CRH PLC United States B01ZKD6 101.45 2,981,838 302,507,465.10
    2.14 EME EMCOR GROUP INC United States 2474164 853.15 327,542 279,442,457.30
    1.94 VMC VULCAN MATERIALS CO United States 2931205 263.26 964,896 254,018,520.96
    1.86 STLD STEEL DYNAMICS INC United States 2849472 228.30 1,066,194 243,412,090.20
    1.82 MLM MARTIN MARIETTA MATERIALS United States 2572079 541.98 439,301 238,092,355.98
    1.70 MTZ MASTEC INC United States 2155306 384.21 576,309 221,423,680.89
    1.55 AMRZ AMRIZE LTD United States BV5F675 50.00 4,037,158 201,857,900.00
    1.38 HUBB HUBBELL INC United States BDFG6S3 463.32 387,993 179,764,916.76
    1.29 STRL STERLING INFRASTRUCTURE INC United States 2632876 752.00 223,989 168,439,728.00
    1.19 WWD WOODWARD INC United States 2948089 356.06 437,057 155,618,515.42
    1.18 CRS CARPENTER TECHNOLOGY United States 2177504 422.01 363,714 153,490,945.14
    1.17 ATI ATI INC United States 2526117 153.73 992,007 152,501,236.11
    1.06 RS RELIANCE INC United States 2729068 362.26 381,415 138,171,397.90
    1.05 FTV FORTIVE CORP United States BYT3MK1 59.03 2,316,371 136,735,380.13
    1.01 RBC RBC BEARINGS INC United States B0GLYB5 571.05 231,347 132,110,704.35
    0.95 WCC WESCO INTERNATIONAL INC United States 2416973 349.98 355,553 124,436,438.94
    0.93 AA ALCOA CORP United States BYNF418 64.14 1,891,790 121,339,410.60
    0.87 IEX IDEX CORP United States 2456612 208.19 546,700 113,817,473.00
    0.83 MLI MUELLER INDUSTRIES INC United States 2609717 134.08 810,608 108,686,320.64
    0.80 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 260.51 402,222 104,782,853.22
    0.77 CSL CARLISLE COS INC United States 2176318 328.98 305,541 100,516,878.18
    0.75 J JACOBS SOLUTIONS INC United States BNGC0D3 113.82 861,029 98,002,320.78
    0.74 TRMB TRIMBLE INC United States 2903958 55.97 1,733,530 97,025,674.10
    0.72 RRX REGAL REXNORD CORP United States 2730082 195.19 484,705 94,609,568.95
    0.70 RPM RPM INTERNATIONAL INC United States 2756174 98.51 934,659 92,073,258.09
    0.70 GGG GRACO INC United States 2380443 75.30 1,211,117 91,197,110.10
    0.68 PNR PENTAIR PLC United States BLS09M3 74.19 1,193,526 88,547,693.94
    0.67 DY DYCOM INDUSTRIES INC United States 2289841 412.78 211,734 87,399,560.52
    0.65 BLD TOPBUILD CORP United States BZ0P3W2 412.64 205,683 84,873,033.12
    0.64 WLK WESTLAKE CORPORATION United States B01ZP20 88.50 936,916 82,917,066.00
    0.60 WMS ADVANCED DRAINAGE SYSTEMS IN United States BP7RS59 136.83 568,402 77,774,445.66
    0.57 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 205.55 363,830 74,785,256.50
    0.56 CR CRANE CO United States BNYD4F8 173.41 421,394 73,073,933.54
    0.56 POWL POWELL INDUSTRIES INC United States 2697422 271.05 267,192 72,422,391.60
    0.56 VMI VALMONT INDUSTRIES United States 2926825 503.36 143,900 72,433,504.00
    0.53 ACM AECOM United States B1VZ431 71.47 961,744 68,735,843.68
    0.51 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 445.73 148,246 66,077,689.58
    0.49 AGX ARGAN INC United States 2804501 630.50 101,084 63,733,462.00
    0.48 LGN LEGENCE CORP-CL A United States BT6CC17 82.46 763,176 62,931,492.96
    0.48 AYI ACUITY INC United States 2818461 279.11 222,611 62,132,956.21
    0.46 ECG EVERUS CONSTRUCTION GROUP United States BSVLTM2 148.75 403,488 60,018,840.00
    0.45 ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION United States BMV1ZD3 47.82 1,221,393 58,407,013.26
    0.45 NWPX NWPX INFRASTRUCTURE INC United States 2035925 109.53 532,195 58,291,318.35
    0.44 CMC COMMERCIAL METALS CO United States 2213260 71.08 810,392 57,602,663.36
    0.44 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 71.23 808,119 57,562,316.37
    0.40 TTEK TETRA TECH INC United States 2883890 27.43 1,908,300 52,344,669.00
    0.40 CTOS CUSTOM TRUCK ONE SOURCE INC United States BL66YS4 9.32 5,608,316 52,269,505.12
    0.39 MTRN MATERION CORP United States 2149622 206.05 249,075 51,321,903.75
    0.38 GRC GORMAN-RUPP CO United States 2379281 72.81 690,207 50,253,971.67
    0.38 PLPC PREFORMED LINE PRODUCTS CO United States 2798466 337.23 148,042 49,924,203.66
    0.36 EXP EAGLE MATERIALS INC United States 2191399 200.25 234,539 46,966,434.75
    0.35 TRN TRINITY INDUSTRIES INC United States 2904627 33.77 1,344,323 45,397,787.71
    0.35 CENX CENTURY ALUMINUM COMPANY United States 2186254 58.78 768,594 45,177,955.32
    0.33 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.34 4,162,074 43,035,845.16
    0.33 ACA ARCOSA INC United States BGPZ5W8 120.24 358,328 43,085,358.72
    0.32 PRIM PRIMORIS SERVICES CORP United States B1GC200 106.69 394,169 42,053,890.61
    0.32 GVA GRANITE CONSTRUCTION INC United States 2381189 130.74 317,880 41,559,631.20
    0.32 MTX MINERALS TECHNOLOGIES INC United States 2595612 75.99 543,731 41,318,118.69
    0.32 DXPE DXP ENTERPRISES INC United States 2276627 146.67 281,452 41,280,564.84
    0.31 TITN TITAN MACHINERY INC United States B29H3T5 18.53 2,213,486 41,015,895.58
    0.30 ROAD CONSTRUCTION PARTNERS INC-A United States BDT5M66 112.52 350,691 39,459,751.32
    0.30 MDU MDU RESOURCES GROUP INC United States 2547323 22.00 1,789,183 39,362,026.00
    0.30 CTRI CENTURI HOLDINGS INC United States BMDPVF7 29.51 1,309,563 38,645,204.13
    0.29 ATKR ATKORE INC United States BDHF495 75.38 504,978 38,065,241.64
    0.28 TPC TUTOR PERINI CORP United States 2681760 76.93 483,291 37,179,576.63
    0.28 ASTE ASTEC INDUSTRIES INC United States 2060370 48.70 745,545 36,308,041.50
    0.28 KNF KNIFE RIVER CORP United States BPLL4V5 73.52 488,386 35,906,138.72
    0.27 LPX LOUISIANA-PACIFIC CORP United States 2535243 70.06 508,483 35,624,318.98
    0.27 MWA MUELLER WATER PRODUCTS INC-A United States B15RZR4 25.43 1,378,684 35,059,934.12
    0.27 GBX GREENBRIER COMPANIES INC United States 2387530 48.00 727,529 34,921,392.00
    0.27 TEX TEREX CORP United States 2884224 57.61 602,731 34,723,332.91
    0.26 TTAM TITAN AMERICA SA United States BNM4XQ7 15.39 2,176,489 33,496,165.71
    0.26 DNOW DNOW INC United States BMH0MV1 13.20 2,530,082 33,397,082.40
    0.25 MTUS METALLUS INC United States BNBPMX1 18.26 1,817,086 33,179,990.36
    0.25 HRI HERC HOLDINGS INC United States BZBZ020 132.62 242,873 32,209,817.26
    0.24 CSW CSW INDUSTRIALS INC United States BYQD1J6 262.82 121,797 32,010,687.54
    0.24 RYZ RYERSON HOLDING CORP United States B3TPPZ6 25.12 1,236,803 31,068,491.36
    0.23 USLM UNITED STATES LIME & MINERAL United States 2724115 104.12 283,609 29,529,369.08
    0.22 EXPO EXPONENT INC United States 2330318 58.23 492,220 28,661,970.60
    0.22 IIIN INSTEEL INDUSTRIES INC United States 2325875 25.86 1,087,940 28,134,128.40
    0.20 CALX CALIX INC United States B3S4L67 38.37 665,630 25,540,223.10
    0.20 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 35.15 724,275 25,458,266.25
    0.20 BMI BADGER METER INC United States 2069128 118.06 215,493 25,441,103.58
    0.19 WNC WABASH NATIONAL CORP United States 2932048 6.96 3,587,530 24,969,208.80
    0.19 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 14.24 1,746,489 24,870,003.36
    0.10 CASH United States 1.00 12,650,432 12,650,431.88
    0.05 OTHER PAYABLE & RECEIVABLES United States 1.00 6,907,908 6,907,908.48
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 04/30/26

    Sector Weight (%)
    Industrials 72.6
    Materials 22.2
    Utilities 3.3
    Information Technology 1.3
    Consumer Discretionary 0.7

    Source: AltaVista Research, LLC

    ETF Characteristics As of 05/20/26

    Return on Equity 15.10%
    Weighted Avg. Market Cap 45,691 M
    2025 2026
    Price-to-earnings 29.61 24.55
    Price-to-book value 3.90 3.51

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 04/30/26

    Versus Beta
    S&P 500 1.14
    MSCI EAFE 0.89
    MSCI Emg. Mkts 0.63
    Standard Deviation 20.70%

    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.

    FOR EVALUATION OF THE PERFORMANCE OF AN INVESTMENT FUND, IT IS RECOMMENDED THE ANALYSIS OF AT LEAST 12 (TWELVE) MONTHS. INVESTMENT FUNDS DO NOT HAVE A GUARANTEE FROM THE ADMINISTRATOR, THE MANAGER, ANY INSURANCE MECHANISM OR CREDIT GUARANTEE FUND – FGC. INVESTMENTS IN FINANCIAL AND CAPITAL MARKETS ARE SUBJECT TO RISKS OF LOSS GREATER THAN THE TOTAL VALUE OF INVESTED CAPITAL. PAST PROFITABILITY DOES NOT REPRESENT A GUARANTEE OF FUTURE PROFITABILITY THE PROFITABILITY DISCLOSED IS NOT NET OF TAXES. READ THE PROSPECTUS, THE FORM OF COMPLEMENTARY INFORMATION, SHEET OF ESSENTIAL INFORMATION AND THE REGULATION BEFORE INVESTING. DESCRIPTION OF THE ANBIMA TYPE AVAILABLE IN THE FORM OF COMPLEMENTARY INFORMATION.

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