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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 07/29/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $9.20 billion
    NAV $46.38

    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 07/29/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 198,350,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 07/29/25

    30-Day SEC Yield 0.65%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 07/29/25

    NAV $46.38 Daily Change -$0.29 -0.62%
    Market Price $46.37 Daily Change -$0.29 -0.62%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 06/30/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 5.23% 8.05% 8.01% 18.40% 40.08% 206.40% 03/06/17
    Returns (as of 07/29/25)
    		Return PAVE Return Index
    Since Inception 226.16% 241.20%
    12 Months 16.79% 17.25%
    24 Months 44.66% 46.56%
    Last 60 Trading Days 19.72% 19.85%
    Last 75 Trading Days 25.64% 25.82%
    Monthly Returns (through 07/29/25)
    		Return PAVE Return Index
    Jul 2025 6.45% 6.50%
    Jun 2025 5.23% 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%
    Jul 2023 3.08% 3.12%

    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 07/29/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.24 HWM HOWMET AEROSPACE INC United States BKLJ8V2 189.17 2,063,024 390,262,250.08
    3.53 FAST FASTENAL CO United States 2332262 46.60 6,984,847 325,493,870.20
    3.37 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 470.98 658,358 310,073,450.84
    3.31 PWR QUANTA SERVICES INC United States 2150204 410.99 742,849 305,303,510.51
    3.22 EMR EMERSON ELECTRIC CO United States 2313405 147.61 2,009,141 296,569,303.01
    3.20 URI UNITED RENTALS INC United States 2134781 882.24 334,221 294,863,135.04
    3.10 NSC NORFOLK SOUTHERN CORP United States 2641894 277.70 1,028,912 285,728,862.40
    3.09 PH PARKER HANNIFIN CORP United States 2671501 734.86 387,551 284,795,727.86
    3.09 DE DEERE & CO United States 2261203 512.50 555,146 284,512,325.00
    3.02 ETN EATON CORP PLC United States B8KQN82 390.01 712,891 278,034,618.91
    3.01 CSX CSX CORP United States 2160753 35.42 7,827,301 277,243,001.42
    2.80 SRE SEMPRA United States 2138158 81.15 3,182,503 258,260,118.45
    2.77 CRH CRH PLC United States B01ZKD6 97.24 2,621,830 254,946,749.20
    2.68 ROK ROCKWELL AUTOMATION INC United States 2754060 353.90 696,347 246,437,203.30
    2.58 UNP UNION PACIFIC CORP United States 2914734 223.77 1,062,512 237,758,310.24
    2.42 VMC VULCAN MATERIALS CO United States 2931205 273.92 813,594 222,859,668.48
    2.37 MLM MARTIN MARIETTA MATERIALS United States 2572079 579.92 376,536 218,360,757.12
    2.21 NUE NUCOR CORP United States 2651086 140.64 1,446,677 203,460,653.28
    1.96 EME EMCOR GROUP INC United States 2474164 636.23 283,412 180,315,216.76
    1.53 HUBB HUBBELL INC United States BDFG6S3 427.33 330,719 141,326,150.27
    1.39 TRMB TRIMBLE INC United States 2903958 84.69 1,514,510 128,263,851.90
    1.30 STLD STEEL DYNAMICS INC United States 2849472 127.52 938,065 119,617,358.48
    1.29 CSL CARLISLE COS INC United States 2176318 424.27 279,308 118,502,005.16
    1.18 J JACOBS SOLUTIONS INC United States BNGC0D3 142.79 764,254 109,127,828.66
    1.18 FTV FORTIVE CORP United States BYT3MK1 50.92 2,137,660 108,849,647.20
    1.13 PNR PENTAIR PLC United States BLS09M3 102.35 1,018,150 104,207,652.50
    1.08 RS RELIANCE INC United States 2729068 299.72 333,506 99,958,418.32
    1.04 WWD WOODWARD INC United States 2948089 262.11 366,031 95,940,385.41
    1.03 RPM RPM INTERNATIONAL INC United States 2756174 120.26 792,317 95,284,042.42
    1.03 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 133.42 709,257 94,629,068.94
    1.00 ACM AECOM United States B1VZ431 113.00 817,354 92,361,002.00
    1.00 MTZ MASTEC INC United States 2155306 188.23 488,337 91,919,673.51
    0.96 GGG GRACO INC United States 2380443 84.57 1,040,488 87,994,070.16
    0.94 IEX IDEX CORP United States 2456612 185.18 466,702 86,423,876.36
    0.92 CRS CARPENTER TECHNOLOGY United States 2177504 275.26 307,137 84,542,530.62
    0.90 ATI ATI Inc United States 2526117 94.11 879,094 82,731,536.34
    0.85 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 224.08 347,803 77,935,696.24
    0.81 RBC RBC BEARINGS INC United States B0GLYB5 385.08 193,600 74,551,488.00
    0.76 CR CRANE CO United States BNYD4F8 198.35 352,773 69,972,524.55
    0.76 BLD TOPBUILD CORP United States BZ0P3W2 382.59 181,843 69,571,313.37
    0.73 WLK Westlake Corporation United States B01ZP20 85.13 793,352 67,538,055.76
    0.71 WCC WESCO INTERNATIONAL INC United States 2416973 216.19 302,051 65,300,405.69
    0.69 RRX REGAL REXNORD CORP United States 2730082 156.19 408,272 63,768,003.68
    0.67 TTEK TETRA TECH INC United States 2883890 37.54 1,652,102 62,019,909.08
    0.67 MLI MUELLER INDUSTRIES INC United States 2609717 87.92 701,101 61,640,799.92
    0.64 AYI ACUITY INC United States 2818461 310.82 190,880 59,329,321.60
    0.62 WMS ADVANCED DRAINAG United States BP7RS59 118.91 477,955 56,833,629.05
    0.56 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 180.24 285,788 51,510,429.12
    0.54 STRL STERLING INFRAST United States 2632876 264.08 189,410 50,019,392.80
    0.53 AA ALCOA CORP United States BYNF418 30.44 1,592,828 48,485,684.32
    0.52 DY DYCOM INDUSTRIES INC United States 2289841 268.69 179,887 48,333,838.03
    0.51 EXP EAGLE MATERIALS INC United States 2191399 227.58 206,795 47,062,406.10
    0.50 TPC TUTOR PERINI CORP United States 2681760 46.91 989,382 46,411,909.62
    0.49 VMI VALMONT INDUSTRIES United States 2926825 363.18 123,524 44,861,446.32
    0.44 ZWS Zurn Elkay Water Solution United States BMV1ZD3 38.27 1,046,581 40,052,654.87
    0.42 LPX LOUISIANA-PACIFIC CORP United States 2535243 90.01 433,146 38,987,471.46
    0.41 CALX CALIX INC United States B3S4L67 56.20 667,174 37,495,178.80
    0.40 CMC COMMERCIAL METALS CO United States 2213260 52.40 700,826 36,723,282.40
    0.39 AGX ARGAN INC United States 2804501 238.15 150,881 35,932,310.15
    0.37 BMI BADGER METER INC United States 2069128 188.00 181,320 34,088,160.00
    0.37 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 198.15 170,480 33,780,612.00
    0.36 RAL RALLIANT CORP United States BTNMGM9 47.30 709,349 33,552,207.70
    0.36 IIIN INSTEEL INDUSTRIES INC United States 2325875 36.20 910,473 32,959,122.60
    0.36 TITN TITAN MACHINERY INC United States B29H3T5 19.71 1,671,038 32,936,158.98
    0.36 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.86 3,016,648 32,760,797.28
    0.35 ROAD CONSTRUCTION P-A United States BDT5M66 102.18 319,494 32,645,896.92
    0.33 PRIM PRIMORIS SERVICES CORP United States B1GC200 92.69 331,444 30,721,544.36
    0.33 DNOW DNOW INC United States BMH0MV1 16.01 1,912,197 30,614,273.97
    0.33 ASTE ASTEC INDUSTRIES INC United States 2060370 40.19 750,769 30,173,406.11
    0.32 CENX CENTURY ALUMINUM COMPANY United States 2186254 22.33 1,319,599 29,466,645.67
    0.31 MTUS METALLUS INC United States BNBPMX1 16.21 1,782,213 28,889,672.73
    0.31 CSW CSW INDUSTRIALS INC United States BYQD1J6 277.88 103,714 28,820,046.32
    0.31 PLPC PREFORMED LINE United States 2798466 142.88 201,213 28,749,313.44
    0.31 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 66.74 429,845 28,687,855.30
    0.31 KNF KNIFE RIVER CORP United States BPLL4V5 81.78 349,290 28,564,936.20
    0.31 GRC GORMAN-RUPP CO United States 2379281 41.33 685,301 28,323,490.33
    0.30 CTOS CUSTOM TRUCK ONE United States BL66YS4 5.78 4,867,230 28,132,589.40
    0.30 RYI RYERSON HOLDING CORP United States B3TPPZ6 21.80 1,285,715 28,028,587.00
    0.30 MWA MUELLER WATER-A United States B15RZR4 24.64 1,112,712 27,417,223.68
    0.30 DXPE DXP ENTERPRISES INC United States 2276627 110.53 246,676 27,265,098.28
    0.29 GVA GRANITE CONSTRUCTION INC United States 2381189 94.71 284,273 26,923,495.83
    0.29 TEX TEREX CORP United States 2884224 50.34 534,545 26,908,995.30
    0.29 ACA ARCOSA INC United States BGPZ5W8 88.00 300,929 26,481,752.00
    0.28 MRC MRC GLOBAL INC United States B7M66F1 15.13 1,734,316 26,240,201.08
    0.28 HRI HERC HOLDINGS INC United States BZBZ020 123.61 211,507 26,144,380.27
    0.28 CTRI CENTURI HOLDINGS INC United States BMDPVF7 21.66 1,204,841 26,096,856.06
    0.27 USLM US LIME & MINERA United States 2724115 112.50 220,175 24,769,687.50
    0.27 MDU MDU RESOURCES GROUP INC United States 2547323 17.03 1,444,762 24,604,296.86
    0.26 ATKR Atkore Inc United States BDHF495 78.05 301,607 23,540,426.35
    0.26 MTRN MATERION CORP United States 2149622 92.06 255,490 23,520,409.40
    0.24 NWPX NWPX INFRASTRUCTURE INC United States 2035925 43.10 523,768 22,574,400.80
    0.24 EXPO EXPONENT INC United States 2330318 70.44 310,055 21,840,274.20
    0.23 POWL POWELL INDUSTRIES INC United States 2697422 233.32 90,178 21,040,330.96
    0.22 MTX MINERALS TECHNOLOGIES INC United States 2595612 59.93 344,269 20,632,041.17
    0.19 WNC WABASH NATIONAL CORP United States 2932048 10.46 1,660,989 17,373,944.94
    0.19 GBX GREENBRIER COMPANIES INC United States 2387530 46.69 371,624 17,351,124.56
    0.18 TRN TRINITY INDUSTRIES INC United States 2904627 25.29 664,629 16,808,467.41
    0.13 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 16.86 706,315 11,908,470.90
    0.09 RTYU5 Index E-MINI RUSS 2000 SEP25 United States 112,680.00 76 8,563,680.00
    0.09 CASH United States 1.00 8,144,308 8,144,307.85
    0.02 OTHER PAYABLE & RECEIVABLES United States 1.00 1,360,773 1,360,772.88
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 24.97 46,057 1,150,043.29
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 06/30/25

    Sector Weight (%)
    Industrials 73.6
    Materials 20.3
    Utilities 3.1
    Information Technology 2.2
    Consumer Discretionary 0.7
    Other/Cash 0.1

    Source: AltaVista Research, LLC

    ETF Characteristics As of 07/29/25

    Return on Equity 14.30%
    Weighted Avg. Market Cap 41,413 M
    2024 2025
    Price-to-earnings 25.62 24.66
    Price-to-book value 3.70 3.36

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 06/30/25

    Versus Beta
    S&P 500 1.33
    MSCI EAFE 0.99
    MSCI Emg. Mkts 0.60
    Standard Deviation 25.00%

    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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