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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 08/19/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $9.33 billion
    NAV $46.31

    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 08/19/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 201,470,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 08/19/25

    30-Day SEC Yield 0.59%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 08/19/25

    NAV $46.31 Daily Change $0.18 0.39%
    Market Price $46.31 Daily Change $0.17 0.37%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 07/31/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 4.84% 13.96% 13.24% 15.03% 42.98% 221.24% 03/06/17
    Returns (as of 08/18/25)
    		Return PAVE Return Index
    Since Inception 224.41% 239.43%
    12 Months 17.74% 18.25%
    24 Months 44.40% 46.28%
    Last 60 Trading Days 12.09% 12.20%
    Last 75 Trading Days 20.47% 20.64%
    Monthly Returns (through 08/18/25)
    		Return PAVE Return Index
    Aug 2025 0.99% 1.02%
    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%
    Oct 2023 -5.17% -5.09%
    Sep 2023 -5.90% -5.84%
    Aug 2023 -0.36% -0.32%

    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 08/19/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.86 HWM HOWMET AEROSPACE INC United States BKLJ8V2 171.90 2,096,512 360,390,412.80
    3.79 FAST FASTENAL CO United States 2332262 49.90 7,098,191 354,199,730.90
    3.33 URI UNITED RENTALS INC United States 2134781 915.64 339,695 311,038,329.80
    3.20 CRH CRH PLC United States B01ZKD6 112.44 2,664,334 299,577,714.96
    3.19 NSC NORFOLK SOUTHERN CORP United States 2641894 285.53 1,045,656 298,566,157.68
    3.14 PH PARKER HANNIFIN CORP United States 2671501 744.23 393,991 293,219,921.93
    3.11 CSX CSX CORP United States 2160753 36.52 7,954,491 290,498,011.32
    3.07 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 428.79 668,984 286,853,649.36
    3.06 PWR QUANTA SERVICES INC United States 2150204 379.27 754,763 286,258,963.01
    2.95 DE DEERE & CO United States 2261203 489.44 564,162 276,123,449.28
    2.87 EMR EMERSON ELECTRIC CO United States 2313405 131.59 2,041,663 268,662,434.17
    2.86 SRE SEMPRA United States 2138158 82.65 3,234,023 267,292,000.95
    2.70 ETN EATON CORP PLC United States B8KQN82 349.00 724,483 252,844,567.00
    2.60 ROK ROCKWELL AUTOMATION INC United States 2754060 343.51 707,617 243,073,515.67
    2.59 VMC VULCAN MATERIALS CO United States 2931205 292.84 826,796 242,118,940.64
    2.58 UNP UNION PACIFIC CORP United States 2914734 223.77 1,079,900 241,649,223.00
    2.49 MLM MARTIN MARIETTA MATERIALS United States 2572079 607.76 382,654 232,561,795.04
    2.30 NUE NUCOR CORP United States 2651086 145.91 1,470,183 214,514,401.53
    1.87 EME EMCOR GROUP INC United States 2474164 607.10 287,920 174,796,232.00
    1.56 HUBB HUBBELL INC United States BDFG6S3 432.81 336,193 145,507,692.33
    1.34 TRMB TRIMBLE INC United States 2903958 81.12 1,538,982 124,842,219.84
    1.31 STLD STEEL DYNAMICS INC United States 2849472 128.22 953,199 122,219,175.78
    1.23 J JACOBS SOLUTIONS INC United States BNGC0D3 147.76 776,812 114,781,741.12
    1.18 PNR PENTAIR PLC United States BLS09M3 107.08 1,034,572 110,781,969.76
    1.18 CSL CARLISLE COS INC United States 2176318 386.92 283,816 109,814,086.72
    1.12 FTV FORTIVE CORP United States BYT3MK1 48.16 2,172,436 104,624,517.76
    1.09 RPM RPM INTERNATIONAL INC United States 2756174 126.25 805,197 101,656,121.25
    1.07 ACM AECOM United States B1VZ431 120.77 830,556 100,306,248.12
    1.06 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 138.15 720,849 99,585,289.35
    1.04 RS RELIANCE INC United States 2729068 287.17 338,980 97,344,886.60
    0.98 GGG GRACO INC United States 2380443 86.22 1,057,232 91,154,543.04
    0.97 WWD WOODWARD INC United States 2948089 244.93 371,827 91,071,587.11
    0.93 MTZ MASTEC INC United States 2155306 175.26 496,387 86,996,785.62
    0.91 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 240.75 353,599 85,128,959.25
    0.86 BLD TOPBUILD CORP United States BZ0P3W2 433.50 184,741 80,085,223.50
    0.84 IEX IDEX CORP United States 2456612 165.90 474,430 78,707,937.00
    0.84 RBC RBC BEARINGS INC United States B0GLYB5 397.81 196,820 78,296,964.20
    0.81 CRS CARPENTER TECHNOLOGY United States 2177504 241.62 311,967 75,377,466.54
    0.75 WMS ADVANCED DRAINAG United States BP7RS59 143.93 485,683 69,904,354.19
    0.74 CR CRANE CO United States BNYD4F8 191.99 358,569 68,841,662.31
    0.72 WLK Westlake Corporation United States B01ZP20 83.56 806,232 67,368,745.92
    0.71 MLI MUELLER INDUSTRIES INC United States 2609717 92.58 712,371 65,951,307.18
    0.70 WCC WESCO INTERNATIONAL INC United States 2416973 211.93 306,881 65,037,290.33
    0.69 ATI ATI Inc United States 2526117 72.05 893,262 64,359,527.10
    0.66 AYI ACUITY INC United States 2818461 320.01 194,100 62,113,941.00
    0.66 RRX REGAL REXNORD CORP United States 2730082 148.47 415,034 61,620,097.98
    0.64 TTEK TETRA TECH INC United States 2883890 35.94 1,678,828 60,337,078.32
    0.60 TPC TUTOR PERINI CORP United States 2681760 56.02 1,005,482 56,327,101.64
    0.58 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 188.00 290,296 54,575,648.00
    0.57 STRL STERLING INFRAST United States 2632876 276.02 192,630 53,169,732.60
    0.53 DY DYCOM INDUSTRIES INC United States 2289841 269.57 182,785 49,273,352.45
    0.52 EXP EAGLE MATERIALS INC United States 2191399 233.19 210,015 48,973,397.85
    0.52 AA ALCOA CORP United States BYNF418 29.85 1,618,588 48,314,851.80
    0.51 ZWS Zurn Elkay Water Solution United States BMV1ZD3 45.17 1,063,647 48,044,934.99
    0.50 VMI VALMONT INDUSTRIES United States 2926825 373.94 125,456 46,913,016.64
    0.46 LPX LOUISIANA-PACIFIC CORP United States 2535243 98.50 440,230 43,362,655.00
    0.44 CMC COMMERCIAL METALS CO United States 2213260 57.55 712,096 40,981,124.80
    0.41 CALX CALIX INC United States B3S4L67 56.42 678,122 38,259,643.24
    0.40 PRIM PRIMORIS SERVICES CORP United States B1GC200 111.09 336,918 37,428,220.62
    0.39 PLPC PREFORMED LINE United States 2798466 180.36 204,433 36,871,535.88
    0.39 ROAD CONSTRUCTION P-A United States BDT5M66 111.46 324,646 36,185,043.16
    0.37 BMI BADGER METER INC United States 2069128 187.66 184,218 34,570,349.88
    0.37 ASTE ASTEC INDUSTRIES INC United States 2060370 45.08 763,005 34,396,265.40
    0.37 IIIN INSTEEL INDUSTRIES INC United States 2325875 37.06 925,285 34,291,062.10
    0.36 TITN TITAN MACHINERY INC United States B29H3T5 19.68 1,698,086 33,409,842.05
    0.35 AGX ARGAN INC United States 2804501 213.76 153,457 32,802,968.32
    0.34 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.43 3,065,914 31,977,483.02
    0.34 KNF KNIFE RIVER CORP United States BPLL4V5 89.33 355,086 31,719,832.38
    0.34 GVA GRANITE CONSTRUCTION INC United States 2381189 109.45 288,781 31,607,080.45
    0.34 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 181.69 173,378 31,501,048.82
    0.32 RAL RALLIANT CORP United States BTNMGM9 42.84 709,349 30,388,511.16
    0.32 MWA MUELLER WATER-A United States B15RZR4 26.40 1,130,744 29,851,641.60
    0.32 CTOS CUSTOM TRUCK ONE United States BL66YS4 6.03 4,946,764 29,828,986.92
    0.32 ACA ARCOSA INC United States BGPZ5W8 97.02 305,759 29,664,738.18
    0.32 CENX CENTURY ALUMINUM COMPANY United States 2186254 21.95 1,341,173 29,438,747.35
    0.31 MTUS METALLUS INC United States BNBPMX1 16.19 1,811,193 29,323,214.67
    0.31 MTRN MATERION CORP United States 2149622 112.38 259,676 29,182,388.88
    0.31 RYI RYERSON HOLDING CORP United States B3TPPZ6 22.32 1,306,645 29,164,316.40
    0.31 GRC GORMAN-RUPP CO United States 2379281 41.80 696,571 29,116,667.80
    0.31 DXPE DXP ENTERPRISES INC United States 2276627 116.06 250,540 29,077,672.40
    0.31 DNOW DNOW INC United States BMH0MV1 14.80 1,943,109 28,758,013.20
    0.30 CSW CSW INDUSTRIALS INC United States BYQD1J6 264.80 105,324 27,889,795.20
    0.30 TEX TEREX CORP United States 2884224 50.86 543,239 27,629,135.54
    0.29 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 62.92 436,929 27,491,572.68
    0.29 NWPX NWPX INFRASTRUCTURE INC United States 2035925 51.63 532,462 27,491,013.06
    0.28 HRI HERC HOLDINGS INC United States BZBZ020 122.56 215,049 26,356,405.44
    0.28 USLM US LIME & MINERA United States 2724115 115.10 223,717 25,749,826.70
    0.27 CTRI CENTURI HOLDINGS INC United States BMDPVF7 20.48 1,224,483 25,077,411.84
    0.26 MRC MRC GLOBAL INC United States B7M66F1 13.97 1,762,652 24,624,248.44
    0.26 MDU MDU RESOURCES GROUP INC United States 2547323 16.40 1,468,268 24,079,595.20
    0.25 POWL POWELL INDUSTRIES INC United States 2697422 253.83 91,788 23,298,777.51
    0.24 EXPO EXPONENT INC United States 2330318 69.60 315,207 21,938,407.20
    0.23 MTX MINERALS TECHNOLOGIES INC United States 2595612 60.79 350,065 21,280,451.35
    0.20 TRN TRINITY INDUSTRIES INC United States 2904627 28.12 675,577 18,997,225.24
    0.20 WNC WABASH NATIONAL CORP United States 2932048 10.88 1,688,037 18,365,842.56
    0.19 ATKR Atkore Inc United States BDHF495 57.79 306,437 17,708,994.23
    0.19 GBX GREENBRIER COMPANIES INC United States 2387530 46.50 377,742 17,565,003.00
    0.11 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 14.65 717,907 10,517,337.55
    0.09 RTYU5 Index E-MINI RUSS 2000 SEP25 United States 114,180.00 76 8,677,680.00
    0.09 CASH United States 1.00 8,373,101 8,373,100.62
    0.07 OTHER PAYABLE & RECEIVABLES United States 1.00 6,883,087 6,883,087.44
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 24.37 46,701 1,138,103.37
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 07/31/25

    Sector Weight (%)
    Industrials 73.7
    Materials 20.0
    Utilities 3.2
    Information Technology 2.2
    Consumer Discretionary 0.8
    Other/Cash 0.1

    Source: AltaVista Research, LLC

    ETF Characteristics As of 08/19/25

    Return on Equity 14.20%
    Weighted Avg. Market Cap 45,824 M
    2024 2025
    Price-to-earnings 25.45 24.76
    Price-to-book value 3.68 3.34

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 07/31/25

    Versus Beta
    S&P 500 1.27
    MSCI EAFE 0.93
    MSCI Emg. Mkts 0.61
    Standard Deviation 23.40%

    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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