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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Morningstar Rating™ - Overall rating out of 89 Infrastructure funds, based on risk-adjusted returns as of 12/31/24

    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 2021 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.

    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 classification.

    1American Society of Engineers, Mar 2021

    Key Information As of 01/21/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $9.16 billion
    NAV $43.81

    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 01/21/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 209,060,000
    Number of Holdings 103
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 01/21/25

    30-Day SEC Yield 0.56%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 01/21/25

    NAV $43.81 Daily Change $0.93 2.17%
    Market Price $43.82 Daily Change $0.93 2.17%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 12/31/24)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE -11.22% 9.59% 18.08% 18.08% 54.51% 183.67% 03/06/17
    Returns (as of 01/16/25)
    		Return PAVE Return Index
    Since Inception 198.27% 211.21%
    12 Months 24.52% 25.14%
    24 Months 48.67% 50.63%
    Last 60 Trading Days 0.44% 0.58%
    Last 75 Trading Days 4.04% 4.20%
    Monthly Returns (through 01/16/25)
    		Return PAVE Return Index
    Jan 2025 5.14% 5.18%
    Dec 2024 -11.22% -11.21%
    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 -4.16% -4.16%
    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%
    Mar 2023 -2.93% -2.90%
    Feb 2023 0.80% 0.89%
    Jan 2023 9.27% 9.36%

    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 01/21/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.67 HWM HOWMET AEROSPACE INC United States BKLJ8V2 127.16 2,651,369 337,148,082.04
    3.66 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 397.15 848,292 336,899,167.80
    3.64 PWR QUANTA SERVICES INC United States 2150204 358.00 935,426 334,882,508.00
    3.43 ETN EATON CORP PLC United States B8KQN82 357.63 882,703 315,681,073.89
    3.38 PH PARKER HANNIFIN CORP United States 2671501 678.42 457,669 310,491,802.98
    3.19 URI UNITED RENTALS INC United States 2134781 789.00 371,343 292,989,627.00
    3.16 EMR EMERSON ELECTRIC CO United States 2313405 129.48 2,241,650 290,248,842.00
    2.82 SRE SEMPRA United States 2138158 86.51 2,993,537 258,970,885.87
    2.79 DE DEERE & CO United States 2261203 463.15 554,194 256,674,951.10
    2.58 MLM MARTIN MARIETTA MATERIALS United States 2572079 552.64 429,194 237,189,772.16
    2.56 VMC VULCAN MATERIALS CO United States 2931205 275.53 855,425 235,695,250.25
    2.56 FAST FASTENAL CO United States 2332262 76.09 3,088,581 235,010,128.29
    2.43 NSC NORFOLK SOUTHERN CORP United States 2641894 251.85 888,786 223,840,754.10
    2.27 UNP UNION PACIFIC CORP United States 2914734 236.73 882,233 208,851,018.09
    2.23 ROK ROCKWELL AUTOMATION INC United States 2754060 290.77 705,445 205,122,242.65
    2.23 CSX CSX CORP United States 2160753 33.27 6,152,778 204,702,924.06
    1.99 FTV FORTIVE CORP United States BYT3MK1 80.73 2,262,184 182,626,114.32
    1.74 EME EMCOR GROUP INC United States 2474164 527.16 302,879 159,665,693.64
    1.70 NUE NUCOR CORP United States 2651086 125.07 1,249,574 156,284,220.18
    1.69 HUBB HUBBELL INC United States BDFG6S3 450.38 345,236 155,487,389.68
    1.43 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 166.18 793,676 131,893,077.68
    1.41 STLD STEEL DYNAMICS INC United States 2849472 124.69 1,041,225 129,830,345.25
    1.39 CSL CARLISLE COS INC United States 2176318 408.24 313,258 127,884,445.92
    1.33 TRMB TRIMBLE INC United States 2903958 76.43 1,600,824 122,350,978.32
    1.25 J JACOBS SOLUTIONS INC United States BNGC0D3 141.23 812,711 114,779,174.53
    1.22 PNR PENTAIR PLC United States BLS09M3 105.35 1,063,512 112,040,989.20
    1.17 RS RELIANCE INC United States 2729068 290.47 369,663 107,376,011.61
    1.16 IEX IDEX CORP United States 2456612 219.66 486,616 106,890,070.56
    1.16 RPM RPM INTERNATIONAL INC United States 2756174 128.31 829,049 106,375,277.19
    1.07 WLK Westlake Corporation United States B01ZP20 119.16 824,429 98,238,959.64
    1.06 ACM AECOM United States B1VZ431 111.05 874,761 97,142,209.05
    1.02 GGG GRACO INC United States 2380443 86.16 1,085,748 93,548,047.68
    0.98 AGX ARGAN INC United States 2804501 185.35 487,567 90,370,543.45
    0.89 MTZ MASTEC INC United States 2155306 160.79 506,865 81,498,823.35
    0.86 POWL POWELL INDUSTRIES INC United States 2697422 289.16 273,424 79,063,283.84
    0.81 WWD WOODWARD INC United States 2948089 192.47 386,230 74,337,688.10
    0.80 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 199.39 367,692 73,314,107.88
    0.79 TTEK TETRA TECH INC United States 2883890 42.31 1,711,776 72,425,242.56
    0.78 BLD TOPBUILD CORP United States BZ0P3W2 350.79 204,213 71,635,878.27
    0.75 TPC TUTOR PERINI CORP United States 2681760 27.41 2,524,498 69,196,490.18
    0.75 RRX REGAL REXNORD CORP United States 2730082 162.06 426,681 69,147,922.86
    0.74 DXPE DXP ENTERPRISES INC United States 2276627 102.56 666,564 68,362,803.84
    0.73 CRS CARPENTER TECHNOLOGY United States 2177504 211.16 318,222 67,195,757.52
    0.72 AYI ACUITY BRANDS INC United States 2818461 335.78 198,193 66,549,245.54
    0.71 WCC WESCO INTERNATIONAL INC United States 2416973 198.54 328,227 65,166,188.58
    0.68 WMS ADVANCED DRAINAG United States BP7RS59 125.25 500,739 62,717,559.75
    0.66 RBC RBC BEARINGS INC United States B0GLYB5 323.69 187,326 60,635,552.94
    0.66 MLI MUELLER INDUSTRIES INC United States 2609717 82.67 729,627 60,318,264.09
    0.64 CR CRANE CO United States BNYD4F8 162.46 365,262 59,340,464.52
    0.64 PRIM PRIMORIS SERVICES CORP United States B1GC200 89.03 659,364 58,703,176.92
    0.64 STRL STERLING INFRAST United States 2632876 196.55 297,469 58,467,531.95
    0.63 EXP EAGLE MATERIALS INC United States 2191399 257.95 224,583 57,931,184.85
    0.61 USLM US LIME & MINERA United States 2724115 118.98 468,707 55,766,758.86
    0.59 LPX LOUISIANA-PACIFIC CORP United States 2535243 117.64 463,343 54,507,670.52
    0.57 X UNITED STATES STEEL CORP United States 2824770 36.58 1,433,141 52,424,297.78
    0.52 ATI ATI Inc United States 2526117 58.47 819,545 47,918,796.15
    0.52 ROAD CONSTRUCTION P-A United States BDT5M66 92.95 511,799 47,571,717.05
    0.50 VMI VALMONT INDUSTRIES United States 2926825 342.83 135,096 46,314,961.68
    0.49 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 153.80 293,165 45,088,777.00
    0.49 GVA GRANITE CONSTRUCTION INC United States 2381189 94.81 472,521 44,799,716.01
    0.48 AA ALCOA CORP United States BYNF418 38.61 1,148,030 44,325,438.30
    0.47 ZWS Zurn Elkay Water Solution United States BMV1ZD3 38.84 1,109,798 43,104,554.32
    0.45 BMI BADGER METER INC United States 2069128 219.41 188,663 41,394,548.83
    0.44 SUM SUMMIT MATERIA-A United States BW9JPS4 52.15 768,593 40,082,124.95
    0.44 CSWI CSW INDUSTRIALS INC United States BYQD1J6 396.86 100,940 40,059,048.40
    0.42 KNF KNIFE RIVER CORP United States BPLL4V5 107.31 363,293 38,984,971.83
    0.42 CENX CENTURY ALUMINUM COMPANY United States 2186254 20.43 1,903,063 38,879,577.09
    0.42 CMC COMMERCIAL METALS CO United States 2213260 51.68 747,110 38,610,644.80
    0.42 NWPX NORTHWEST PIPE CO United States 2035925 50.92 750,612 38,221,163.04
    0.42 HRI HERC HOLDINGS INC United States BZBZ020 210.02 181,967 38,216,709.34
    0.41 HEES H&E EQUIPMENT SE United States B0WR848 89.46 421,397 37,698,175.62
    0.40 DY DYCOM INDUSTRIES INC United States 2289841 194.74 188,609 36,729,716.66
    0.39 MWA MUELLER WATER-A United States B15RZR4 23.58 1,507,568 35,548,453.44
    0.36 CLF CLEVELAND-CLIFFS INC United States BYVZ186 10.09 3,266,044 32,954,383.96
    0.35 TRN TRINITY INDUSTRIES INC United States 2904627 38.51 838,683 32,297,682.33
    0.34 GBX GREENBRIER COMPANIES INC United States 2387530 67.67 468,342 31,692,703.14
    0.34 ACA ARCOSA INC United States BGPZ5W8 100.75 313,628 31,598,021.00
    0.33 MRC MRC GLOBAL INC United States B7M66F1 14.85 2,068,315 30,714,477.75
    0.33 EXPO EXPONENT INC United States 2330318 93.95 325,921 30,620,277.95
    0.33 DNOW DNOW INC United States BMH0MV1 13.96 2,175,193 30,365,694.28
    0.27 MTX MINERALS TECHNOLOGIES INC United States 2595612 77.06 323,930 24,962,045.80
    0.27 GRC GORMAN-RUPP CO United States 2379281 38.57 645,876 24,911,437.32
    0.26 MDU MDU RESOURCES GROUP INC United States 2547323 18.61 1,309,193 24,364,081.73
    0.26 CXT CRANE NXT CO United States BQ7W2W6 66.54 364,911 24,281,177.94
    0.26 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 154.47 155,262 23,983,321.14
    0.26 ECG EVERUS CONSTRUCTION GROUP United States BSVLTM2 72.50 327,961 23,777,172.50
    0.23 ASTE ASTEC INDUSTRIES INC United States 2060370 35.10 613,367 21,529,181.70
    0.23 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 37.61 570,613 21,460,754.93
    0.23 TEX TEREX CORP United States 2884224 48.88 431,338 21,083,801.44
    0.23 ATKR Atkore Inc United States BDHF495 88.18 237,763 20,965,941.34
    0.21 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 23.59 812,316 19,162,534.44
    0.20 MTRN MATERION CORP United States 2149622 104.14 180,165 18,762,383.10
    0.20 CALX CALIX INC United States B3S4L67 37.92 484,118 18,357,754.56
    0.19 IIIN INSTEEL INDUSTRIES INC United States 2325875 27.71 629,523 17,444,082.33
    0.18 CTOS CUSTOM TRUCK ONE United States BL66YS4 5.02 3,395,709 17,046,459.18
    0.18 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 63.03 267,723 16,874,580.69
    0.17 MTUS METALLUS INC United States BNBPMX1 15.19 1,054,243 16,013,951.17
    0.15 RYI RYERSON HOLDING CORP United States B3TPPZ6 20.77 644,603 13,388,404.31
    0.14 WNC WABASH NATIONAL CORP United States 2932048 15.79 846,779 13,370,640.41
    0.14 TITN TITAN MACHINERY INC United States B29H3T5 15.76 794,445 12,520,453.20
    0.12 RTYH5 Index E-MINI RUSS 2000 MAR25 United States 116,580.00 98 11,424,840.00
    0.11 CASH United States 1.00 9,759,093 9,759,093.14
    0.01 OTHER PAYABLE & RECEIVABLES United States 1.00 869,125 869,124.78
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 12/31/24

    Sector Weight (%)
    Industrials 75.1
    Materials 18.8
    Utilities 3.4
    Information Technology 2.0
    Consumer Discretionary 0.7

    Source: AltaVista Research, LLC

    ETF Characteristics As of 01/17/25

    Return on Equity 14.90%
    Weighted Avg. Market Cap 39,267 M
    2023 2024
    Price-to-earnings 23.14 22.96
    Price-to-book value 3.64 3.24

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 12/31/24

    Versus Beta
    S&P 500 1.28
    MSCI EAFE 1.18
    MSCI Emg. Mkts 0.76
    Standard Deviation 26.10%

    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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