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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 12/05/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $9.83 billion
    NAV $48.48

    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 12/05/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 202,720,000
    Number of Holdings 99
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 12/05/25

    30-Day SEC Yield 0.54%
    Distribution Frequency Semi Annually
     Distribution History

    ETF Prices As of 12/05/25

    NAV $48.48 Daily Change -$0.24 -0.49%
    Market Price $48.47 Daily Change -$0.27 -0.55%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 11/28/25)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 0.56% 17.21% 20.26% 6.76% 55.58% 241.14% 03/06/17
    Returns (as of 12/04/25)
    		Return PAVE Return Index
    Since Inception 242.62% 258.98%
    12 Months 20.84% 21.34%
    24 Months 42.25% 43.56%
    Last 60 Trading Days 5.00% 5.11%
    Last 75 Trading Days 5.22% 5.35%
    Monthly Returns (through 12/04/25)
    		Return PAVE Return Index
    Dec 2025 0.43% 0.44%
    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%
    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%

    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 12/05/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    4.11 HWM HOWMET AEROSPACE INC United States BKLJ8V2 190.98 2,115,815 404,078,348.70
    3.57 PWR QUANTA SERVICES INC United States 2150204 460.64 761,880 350,952,403.20
    3.55 PH PARKER HANNIFIN CORP United States 2671501 880.00 397,417 349,726,960.00
    3.26 CRH CRH PLC United States B01ZKD6 119.49 2,688,773 321,281,485.77
    3.15 NSC NORFOLK SOUTHERN CORP United States 2641894 294.19 1,055,183 310,424,286.77
    3.02 FAST FASTENAL CO United States 2332262 41.50 7,163,389 297,280,643.50
    3.01 SRE SEMPRA United States 2138158 90.66 3,263,795 295,895,654.70
    2.96 CSX CSX CORP United States 2160753 36.30 8,027,174 291,386,416.20
    2.93 ROK ROCKWELL AUTOMATION INC United States 2754060 404.29 714,121 288,711,979.09
    2.88 EMR EMERSON ELECTRIC CO United States 2313405 137.39 2,060,498 283,091,820.22
    2.78 URI UNITED RENTALS INC United States 2134781 796.91 342,741 273,133,730.31
    2.75 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 401.43 675,193 271,042,725.99
    2.75 DE DEERE & CO United States 2261203 475.11 569,334 270,496,276.74
    2.60 UNP UNION PACIFIC CORP United States 2914734 235.31 1,089,603 256,394,481.93
    2.51 ETN EATON CORP PLC United States B8KQN82 337.66 731,084 246,857,823.44
    2.50 VMC VULCAN MATERIALS CO United States 2931205 294.87 834,342 246,022,425.54
    2.45 MLM MARTIN MARIETTA MATERIALS United States 2572079 624.37 386,135 241,091,109.95
    2.40 NUE NUCOR CORP United States 2651086 159.45 1,483,512 236,545,988.40
    1.84 EME EMCOR GROUP INC United States 2474164 623.62 290,630 181,242,680.60
    1.62 STLD STEEL DYNAMICS INC United States 2849472 165.22 961,855 158,917,683.10
    1.52 HUBB HUBBELL INC United States BDFG6S3 440.53 339,087 149,377,996.11
    1.32 TRMB TRIMBLE INC United States 2903958 83.52 1,552,886 129,697,038.72
    1.20 FTV FORTIVE CORP United States BYT3MK1 53.75 2,191,975 117,818,656.25
    1.16 WWD WOODWARD INC United States 2948089 303.45 375,304 113,885,998.80
    1.12 MTZ MASTEC INC United States 2155306 219.52 500,601 109,891,931.52
    1.12 J JACOBS SOLUTIONS INC United States BNGC0D3 140.22 783,529 109,866,436.38
    1.11 PNR PENTAIR PLC United States BLS09M3 104.25 1,043,900 108,826,575.00
    0.99 RS RELIANCE INC United States 2729068 285.82 341,927 97,729,575.14
    0.98 CRS CARPENTER TECHNOLOGY United States 2177504 307.12 314,424 96,565,898.88
    0.94 CSL CARLISLE COS INC United States 2176318 323.68 286,371 92,692,565.28
    0.92 ATI ATI INC United States 2526117 100.41 901,189 90,488,387.49
    0.90 GGG GRACO INC United States 2380443 83.47 1,064,916 88,888,538.52
    0.89 RBC RBC BEARINGS INC United States B0GLYB5 443.44 198,443 87,997,563.92
    0.89 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 245.41 356,497 87,487,928.77
    0.87 ACM AECOM United States B1VZ431 102.43 836,505 85,683,207.15
    0.87 RPM RPM INTERNATIONAL INC United States 2756174 105.30 810,800 85,377,240.00
    0.86 IEX IDEX CORP United States 2456612 177.54 478,416 84,937,976.64
    0.86 WCC WESCO INTERNATIONAL INC United States 2416973 273.36 309,056 84,483,548.16
    0.83 MLI MUELLER INDUSTRIES INC United States 2609717 113.49 717,308 81,407,284.92
    0.83 BLD TOPBUILD CORP United States BZ0P3W2 437.04 186,077 81,323,092.08
    0.81 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 110.01 725,744 79,839,097.44
    0.74 WMS ADVANCED DRAINAG United States BP7RS59 148.92 488,989 72,820,241.88
    0.74 AYI ACUITY INC United States 2818461 371.99 195,320 72,657,086.80
    0.73 AA ALCOA CORP United States BYNF418 43.77 1,632,241 71,443,188.57
    0.70 TPC TUTOR PERINI CORP United States 2681760 67.82 1,011,582 68,605,491.24
    0.69 CR CRANE CO United States BNYD4F8 187.79 360,765 67,748,059.35
    0.66 DY DYCOM INDUSTRIES INC United States 2289841 351.80 184,327 64,846,238.60
    0.64 STRL STERLING INFRAST United States 2632876 325.10 193,850 63,020,635.00
    0.62 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 208.67 292,411 61,017,403.37
    0.62 RRX REGAL REXNORD CORP United States 2730082 145.63 417,596 60,814,505.48
    0.59 TTEK TETRA TECH INC United States 2883890 34.14 1,688,954 57,660,889.56
    0.56 WLK WESTLAKE CORPORATION United States B01ZP20 68.02 811,112 55,171,838.24
    0.53 VMI VALMONT INDUSTRIES United States 2926825 414.89 126,382 52,434,627.98
    0.52 DNOW DNOW INC United States BMH0MV1 13.95 3,652,809 50,956,685.55
    0.51 ZWS ZURN ELKAY WATER SOLUTION United States BMV1ZD3 46.86 1,070,113 50,145,495.18
    0.49 AGX ARGAN INC United States 2804501 313.70 154,433 48,445,632.10
    0.49 CMC COMMERCIAL METALS CO United States 2213260 66.86 716,366 47,896,230.76
    0.48 EXP EAGLE MATERIALS INC United States 2191399 222.09 211,595 46,993,133.55
    0.45 PLPC PREFORMED LINE United States 2798466 217.27 205,653 44,682,227.31
    0.43 PRIM PRIMORIS SERVICES CORP United States B1GC200 125.66 338,992 42,597,734.72
    0.43 CENX CENTURY ALUMINUM COMPANY United States 2186254 31.08 1,361,964 42,329,841.12
    0.40 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 228.54 174,476 39,874,745.04
    0.39 CLF CLEVELAND-CLIFFS INC United States BYVZ186 12.29 3,113,664 38,266,930.56
    0.38 RAL RALLIANT CORP United States BTNMGM9 51.05 734,692 37,506,026.60
    0.38 LPX LOUISIANA-PACIFIC CORP United States 2535243 84.21 442,914 37,297,787.94
    0.38 CALX CALIX INC United States B3S4L67 54.17 682,270 36,958,565.90
    0.35 ASTE ASTEC INDUSTRIES INC United States 2060370 45.22 767,641 34,712,726.02
    0.34 ROAD CONSTRUCTION P-A United States BDT5M66 103.04 326,598 33,652,657.92
    0.34 BMI BADGER METER INC United States 2069128 180.14 185,316 33,382,824.24
    0.34 MTRN MATERION CORP United States 2149622 125.25 263,636 33,020,409.00
    0.34 ACA ARCOSA INC United States BGPZ5W8 107.29 307,589 33,001,223.81
    0.33 GRC GORMAN-RUPP CO United States 2379281 46.25 707,445 32,719,331.25
    0.33 NWPX NWPX INFRASTRUCTURE INC United States 2035925 59.70 540,684 32,278,834.80
    0.33 CSW CSW INDUSTRIALS INC United States BYQD1J6 304.27 105,934 32,232,538.18
    0.32 CTRI CENTURI HOLDINGS INC United States BMDPVF7 25.58 1,243,267 31,802,769.86
    0.32 POWL POWELL INDUSTRIES INC United States 2697422 342.13 92,832 31,760,612.16
    0.32 MTUS METALLUS INC United States BNBPMX1 17.40 1,822,173 31,705,810.20
    0.32 RYI RYERSON HOLDING CORP United States B3TPPZ6 23.91 1,314,575 31,431,488.25
    0.32 GVA GRANITE CONSTRUCTION INC United States 2381189 108.08 290,489 31,396,051.12
    0.31 HRI HERC HOLDINGS INC United States BZBZ020 141.29 218,187 30,827,641.23
    0.31 CTOS CUSTOM TRUCK ONE United States BL66YS4 6.11 5,021,779 30,683,069.69
    0.30 IIIN INSTEEL INDUSTRIES INC United States 2325875 31.67 930,897 29,481,507.99
    0.29 MDU MDU RESOURCES GROUP INC United States 2547323 19.26 1,491,502 28,726,328.52
    0.28 MWA MUELLER WATER-A United States B15RZR4 24.57 1,137,576 27,950,242.32
    0.28 USLM US LIME & MINERA United States 2724115 121.45 227,202 27,593,682.90
    0.28 TEX TEREX CORP United States 2884224 49.83 551,455 27,479,002.65
    0.28 TITN TITAN MACHINERY INC United States B29H3T5 15.94 1,708,334 27,230,843.96
    0.27 KNF KNIFE RIVER CORP United States BPLL4V5 74.64 357,282 26,667,528.48
    0.24 DXPE DXP ENTERPRISES INC United States 2276627 95.74 252,004 24,126,862.96
    0.24 EXPO EXPONENT INC United States 2330318 73.22 320,034 23,432,889.48
    0.22 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 49.32 439,613 21,681,713.16
    0.21 MTX MINERALS TECHNOLOGIES INC United States 2595612 59.17 356,151 21,073,454.67
    0.20 ATKR ATKORE INC United States BDHF495 63.84 311,214 19,867,901.76
    0.19 TRN TRINITY INDUSTRIES INC United States 2904627 27.65 685,517 18,954,545.05
    0.18 GBX GREENBRIER COMPANIES INC United States 2387530 46.22 383,180 17,710,579.60
    0.16 WNC WABASH NATIONAL CORP United States 2932048 9.32 1,713,254 15,967,527.28
    0.13 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 17.15 727,163 12,470,845.45
    0.10 OTHER PAYABLE & RECEIVABLES United States 1.00 9,434,074 9,434,074.37
    0.06 RTYZ5 Index E-MINI RUSS 2000 DEC25 United States 126,220.00 46 5,806,120.00
    0.01 AMTM AMENTUM HOLDINGS INC United States BMZLFJ5 28.88 46,945 1,355,771.60
    -0.01 CASH United States 1.00 -1,401,187 -1,401,186.91
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 11/30/25

    Sector Weight (%)
    Industrials 72.4
    Materials 21.2
    Utilities 3.5
    Information Technology 2.0
    Consumer Discretionary 0.9

    Source: AltaVista Research, LLC

    ETF Characteristics As of 12/05/25

    Return on Equity 13.90%
    Weighted Avg. Market Cap 45,576 M
    2024 2025
    Price-to-earnings 26.63 26.34
    Price-to-book value 3.85 3.51

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 11/30/25

    Versus Beta
    S&P 500 1.27
    MSCI EAFE 0.84
    MSCI Emg. Mkts 0.60
    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.

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