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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 04/22/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $7.17 billion
    NAV $36.26

    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 04/22/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 197,620,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.06%

    Distributions As of 04/22/25

    30-Day SEC Yield 0.72%
    Distribution Frequency Semi-Annually
     Distribution History

    ETF Prices As of 04/22/25

    NAV $36.26 Daily Change $0.96 2.72%
    Market Price $36.23 Daily Change $0.93 2.63%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 03/31/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE -6.19% -8.09% -6.75% -4.74% 37.96% 164.52% 03/06/17
    Returns (as of 04/07/25)
    		Return PAVE Return Index
    Since Inception 140.60% 151.29%
    12 Months -8.22% -7.80%
    24 Months 25.49% 27.13%
    Last 60 Trading Days -15.54% -15.45%
    Last 75 Trading Days -20.28% -20.15%
    Monthly Returns (through 04/07/25)
    		Return PAVE Return Index
    Apr 2025 -9.04% -9.04%
    Mar 2025 -6.19% -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%
    Jun 2023 15.49% 15.55%
    May 2023 -1.18% -1.14%
    Apr 2023 -2.56% -2.56%

    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 04/22/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.91 FAST FASTENAL CO United States 2332262 81.44 3,396,161 276,583,351.84
    3.52 HWM HOWMET AEROSPACE INC United States BKLJ8V2 124.30 2,006,246 249,376,377.80
    3.47 DE DEERE & CO United States 2261203 454.66 539,837 245,442,290.42
    3.17 UNP UNION PACIFIC CORP United States 2914734 216.90 1,033,196 224,100,212.40
    3.16 SRE SEMPRA United States 2138158 72.31 3,094,838 223,787,735.78
    3.11 NSC NORFOLK SOUTHERN CORP United States 2641894 220.00 1,000,466 220,102,520.00
    3.09 CRH CRH PLC United States B01ZKD6 85.72 2,549,584 218,550,340.48
    3.02 PH PARKER HANNIFIN CORP United States 2671501 566.65 377,003 213,628,749.95
    3.01 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 332.62 640,245 212,958,291.90
    2.99 CSX CSX CORP United States 2160753 27.78 7,611,777 211,455,165.06
    2.76 EMR EMERSON ELECTRIC CO United States 2313405 99.79 1,953,908 194,980,479.32
    2.69 VMC VULCAN MATERIALS CO United States 2931205 240.57 791,165 190,330,564.05
    2.67 PWR QUANTA SERVICES INC United States 2150204 261.85 722,469 189,178,507.65
    2.64 URI UNITED RENTALS INC United States 2134781 574.76 324,995 186,794,126.20
    2.62 ETN EATON CORP PLC United States B8KQN82 266.91 693,250 185,035,357.50
    2.54 MLM MARTIN MARIETTA MATERIALS United States 2572079 491.00 366,155 179,782,105.00
    2.24 ROK ROCKWELL AUTOMATION INC United States 2754060 234.42 677,207 158,750,864.94
    2.18 NUE NUCOR CORP United States 2651086 109.62 1,406,874 154,221,527.88
    1.94 FTV FORTIVE CORP United States BYT3MK1 65.99 2,078,256 137,144,113.44
    1.55 HUBB HUBBELL INC United States BDFG6S3 340.52 321,823 109,587,167.96
    1.51 STLD STEEL DYNAMICS INC United States 2849472 117.39 912,286 107,093,253.54
    1.45 EME EMCOR GROUP INC United States 2474164 373.20 275,670 102,880,044.00
    1.36 CSL CARLISLE COS INC United States 2176318 355.60 271,625 96,589,850.00
    1.28 RS RELIANCE INC United States 2729068 280.09 324,313 90,836,828.17
    1.24 J JACOBS SOLUTIONS INC United States BNGC0D3 118.39 743,228 87,990,762.92
    1.21 TRMB TRIMBLE INC United States 2903958 58.01 1,472,406 85,414,272.06
    1.21 PNR PENTAIR PLC United States BLS09M3 86.24 990,216 85,396,227.84
    1.13 RPM RPM INTERNATIONAL INC United States 2756174 104.02 770,565 80,154,171.30
    1.13 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 116.10 689,752 80,080,207.20
    1.13 GGG GRACO INC United States 2380443 78.98 1,011,950 79,923,811.00
    1.07 IEX IDEX CORP United States 2456612 166.40 453,858 75,521,971.20
    1.06 ACM AECOM United States B1VZ431 94.00 794,959 74,726,146.00
    1.02 WLK Westlake Corporation United States B01ZP20 93.39 771,446 72,045,341.94
    0.85 RBC RBC BEARINGS INC United States B0GLYB5 318.51 188,265 59,964,285.15
    0.85 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 177.00 338,046 59,834,142.00
    0.84 WWD WOODWARD INC United States 2948089 167.81 356,100 59,757,141.00
    0.77 X UNITED STATES STEEL CORP United States 2824770 40.58 1,349,899 54,778,901.42
    0.77 MTZ MASTEC INC United States 2155306 114.25 475,031 54,272,291.75
    0.75 CRS CARPENTER TECHNOLOGY United States 2177504 177.38 298,648 52,974,182.24
    0.72 BLD TOPBUILD CORP United States BZ0P3W2 288.25 176,882 50,986,236.50
    0.70 TTEK TETRA TECH INC United States 2883890 30.65 1,607,009 49,254,825.85
    0.69 WMS ADVANCED DRAINAG United States BP7RS59 104.72 464,875 48,681,710.00
    0.68 CR CRANE CO United States BNYD4F8 140.41 343,125 48,178,181.25
    0.68 MLI MUELLER INDUSTRIES INC United States 2609717 70.28 681,922 47,925,478.16
    0.62 WCC WESCO INTERNATIONAL INC United States 2416973 149.76 293,831 44,004,130.56
    0.61 AYI ACUITY INC United States 2818461 232.01 186,023 43,159,196.23
    0.61 EXP EAGLE MATERIALS INC United States 2191399 213.53 201,134 42,948,143.02
    0.57 RRX REGAL REXNORD CORP United States 2730082 101.20 396,693 40,145,331.60
    0.55 ATI ATI Inc United States 2526117 45.61 855,446 39,016,892.06
    0.53 AA ALCOA CORP United States BYNF418 24.32 1,549,477 37,683,280.64
    0.52 BMI BADGER METER INC United States 2069128 208.53 176,396 36,783,857.88
    0.50 LPX LOUISIANA-PACIFIC CORP United States 2535243 84.11 421,266 35,432,683.26
    0.50 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 126.63 277,679 35,162,491.77
    0.47 VMI VALMONT INDUSTRIES United States 2926825 278.28 120,093 33,419,480.04
    0.45 ZWS Zurn Elkay Water Solution United States BMV1ZD3 31.13 1,018,118 31,694,013.34
    0.43 CSWI CSW INDUSTRIALS INC United States BYQD1J6 298.87 100,856 30,142,832.72
    0.42 KNF KNIFE RIVER CORP United States BPLL4V5 88.35 339,259 29,973,532.65
    0.41 CMC COMMERCIAL METALS CO United States 2213260 42.81 681,821 29,188,757.01
    0.41 DNOW DNOW INC United States BMH0MV1 15.52 1,859,974 28,866,796.48
    0.41 IIIN INSTEEL INDUSTRIES INC United States 2325875 32.53 885,727 28,812,699.31
    0.40 RYI RYERSON HOLDING CORP United States B3TPPZ6 22.60 1,250,307 28,256,938.20
    0.38 MWA MUELLER WATER-A United States B15RZR4 25.15 1,082,223 27,217,908.45
    0.38 DY DYCOM INDUSTRIES INC United States 2289841 154.60 175,070 27,065,822.00
    0.38 PLPC PREFORMED LINE United States 2798466 137.77 195,768 26,970,957.36
    0.37 TITN TITAN MACHINERY INC United States B29H3T5 16.19 1,625,819 26,322,009.61
    0.36 HEES H&E EQUIPMENT SE United States B0WR848 89.30 289,223 25,827,613.90
    0.35 ASTE ASTEC INDUSTRIES INC United States 2060370 33.84 730,453 24,718,529.52
    0.35 STRL STERLING INFRAST United States 2632876 133.92 184,424 24,698,062.08
    0.34 CALX CALIX INC United States B3S4L67 37.61 649,193 24,416,148.73
    0.34 EXPO EXPONENT INC United States 2330318 79.53 304,663 24,229,848.39
    0.34 ROAD CONSTRUCTION P-A United States BDT5M66 77.06 310,922 23,959,649.32
    0.34 MDU MDU RESOURCES GROUP INC United States 2547323 16.76 1,420,169 23,802,032.44
    0.32 MTUS METALLUS INC United States BNBPMX1 13.22 1,733,885 22,921,959.70
    0.32 ACA ARCOSA INC United States BGPZ5W8 76.73 292,801 22,466,620.73
    0.31 GRC GORMAN-RUPP CO United States 2379281 32.98 673,701 22,218,658.98
    0.30 CLF CLEVELAND-CLIFFS INC United States BYVZ186 7.24 2,965,351 21,469,141.24
    0.30 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 51.22 417,324 21,375,335.28
    0.30 GVA GRANITE CONSTRUCTION INC United States 2381189 76.63 276,648 21,199,536.24
    0.30 NWPX NORTHWEST PIPE CO United States 2035925 41.12 514,925 21,173,716.00
    0.30 CENX CENTURY ALUMINUM COMPANY United States 2186254 16.07 1,297,215 20,846,245.05
    0.28 MTRN MATERION CORP United States 2149622 79.97 251,109 20,081,186.73
    0.28 CTRI CENTURI HOLDINGS INC United States BMDPVF7 16.72 1,184,284 19,801,228.48
    0.28 AGX ARGAN INC United States 2804501 134.01 146,828 19,676,420.28
    0.28 TPC TUTOR PERINI CORP United States 2681760 20.18 963,558 19,444,600.44
    0.27 MTX MINERALS TECHNOLOGIES INC United States 2595612 57.23 338,459 19,370,008.57
    0.27 USLM US LIME & MINERA United States 2724115 88.39 216,468 19,133,606.52
    0.27 DXPE DXP ENTERPRISES INC United States 2276627 79.18 239,528 18,965,827.04
    0.27 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 113.28 166,084 18,813,995.52
    0.26 ATKR Atkore Inc United States BDHF495 62.66 296,552 18,581,948.32
    0.26 MRC MRC GLOBAL INC United States B7M66F1 10.89 1,704,855 18,565,870.95
    0.26 CTOS CUSTOM TRUCK ONE United States BL66YS4 3.84 4,784,645 18,373,036.80
    0.25 TEX TEREX CORP United States 2884224 34.02 525,446 17,875,672.92
    0.25 PRIM PRIMORIS SERVICES CORP United States B1GC200 55.44 322,098 17,857,113.12
    0.25 HRI HERC HOLDINGS INC United States BZBZ020 102.34 170,591 17,458,282.94
    0.23 WNC WABASH NATIONAL CORP United States 2932048 10.07 1,632,884 16,443,141.88
    0.23 TRN TRINITY INDUSTRIES INC United States 2904627 24.70 653,366 16,138,140.20
    0.22 GBX GREENBRIER COMPANIES INC United States 2387530 42.60 365,221 15,558,414.60
    0.21 POWL POWELL INDUSTRIES INC United States 2697422 165.85 88,493 14,676,121.59
    0.13 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 13.55 694,378 9,408,821.90
    0.07 CASH United States 1.00 5,064,767 5,064,766.89
    0.02 RTYM5 Index E-MINI RUSS 2000 JUN25 United States 94,945.00 19 1,803,955.00
    -0.05 OTHER PAYABLE & RECEIVABLES United States 1.00 -3,307,172 -3,307,172.04
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 03/31/25

    Sector Weight (%)
    Industrials 71.7
    Materials 22.2
    Utilities 3.3
    Information Technology 2.1
    Consumer Discretionary 0.7

    Source: AltaVista Research, LLC

    ETF Characteristics As of 04/22/25

    Return on Equity 14.50%
    Weighted Avg. Market Cap 39,461 M
    2024 2025
    Price-to-earnings 20.02 18.58
    Price-to-book value 2.85 2.57

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 03/31/25

    Versus Beta
    S&P 500 1.29
    MSCI EAFE 1.13
    MSCI Emg. Mkts 0.75
    Standard Deviation 26.00%

    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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