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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 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 $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, 2021
    2Politico, 2024

    Key Information As of 04/11/25

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $7.24 billion
    NAV $36.36

    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 04/11/25

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe
    Shares Outstanding 199,030,000
    Number of Holdings 102
    30-Day Median Bid-Ask Spread 0.05%

    Distributions As of 04/11/25

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

    ETF Prices As of 04/11/25

    NAV $36.36 Daily Change $0.67 1.88%
    Market Price $36.32 Daily Change $0.60 1.68%

    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 04/10/25)
    		Return PAVE Return Index
    Since Inception 150.35% 161.52%
    12 Months -4.49% -4.05%
    24 Months 30.58% 32.31%
    Last 60 Trading Days -13.87% -13.78%
    Last 75 Trading Days -12.52% -12.38%
    Monthly Returns (through 04/10/25)
    		Return PAVE Return Index
    Apr 2025 -5.35% -5.34%
    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 04/11/25

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.86 FAST FASTENAL CO United States 2332262 80.64 3,461,225 279,113,184.00
    3.55 HWM HOWMET AEROSPACE INC United States BKLJ8V2 125.67 2,044,528 256,935,833.76
    3.49 DE DEERE & CO United States 2261203 459.13 549,984 252,514,153.92
    3.18 UNP UNION PACIFIC CORP United States 2914734 218.59 1,052,909 230,155,378.31
    3.12 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 345.81 652,370 225,596,069.70
    3.08 NSC NORFOLK SOUTHERN CORP United States 2641894 218.31 1,019,846 222,642,580.26
    3.04 CRH CRH PLC United States B01ZKD6 84.74 2,598,106 220,163,502.44
    3.00 CSX CSX CORP United States 2160753 28.01 7,757,151 217,277,799.51
    3.00 PH PARKER HANNIFIN CORP United States 2671501 565.37 384,223 217,228,157.51
    2.98 SRE SEMPRA United States 2138158 68.31 3,153,753 215,432,867.43
    2.76 EMR EMERSON ELECTRIC CO United States 2313405 100.49 1,991,245 200,100,210.05
    2.74 PWR QUANTA SERVICES INC United States 2150204 269.57 736,256 198,472,529.92
    2.71 ETN EATON CORP PLC United States B8KQN82 277.53 706,209 195,994,183.77
    2.70 VMC VULCAN MATERIALS CO United States 2931205 242.30 806,006 195,295,253.80
    2.67 URI UNITED RENTALS INC United States 2134781 582.90 331,006 192,943,397.40
    2.53 MLM MARTIN MARIETTA MATERIALS United States 2572079 491.69 373,005 183,402,828.45
    2.20 NUE NUCOR CORP United States 2651086 111.24 1,433,656 159,479,893.44
    2.19 ROK ROCKWELL AUTOMATION INC United States 2754060 229.38 689,923 158,254,537.74
    1.90 FTV FORTIVE CORP United States BYT3MK1 64.98 2,118,536 137,662,469.28
    1.60 HUBB HUBBELL INC United States BDFG6S3 353.43 327,903 115,890,757.29
    1.55 STLD STEEL DYNAMICS INC United States 2849472 120.41 929,349 111,902,913.09
    1.49 EME EMCOR GROUP INC United States 2474164 383.73 280,683 107,706,487.59
    1.33 CSL CARLISLE COS INC United States 2176318 347.60 276,688 96,176,748.80
    1.28 RS RELIANCE INC United States 2729068 279.55 330,194 92,305,732.70
    1.22 J JACOBS SOLUTIONS INC United States BNGC0D3 116.54 757,206 88,244,787.24
    1.21 TRMB TRIMBLE INC United States 2903958 58.22 1,500,906 87,382,747.32
    1.17 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 120.90 702,226 84,899,123.40
    1.15 PNR PENTAIR PLC United States BLS09M3 82.19 1,008,627 82,899,053.13
    1.13 RPM RPM INTERNATIONAL INC United States 2756174 104.37 784,629 81,891,728.73
    1.13 GGG GRACO INC United States 2380443 79.44 1,030,784 81,880,327.04
    1.08 IEX IDEX CORP United States 2456612 168.51 462,086 77,866,111.86
    1.05 ACM AECOM United States B1VZ431 93.71 809,636 75,870,989.56
    0.97 WLK Westlake Corporation United States B01ZP20 89.74 785,521 70,492,654.54
    0.88 RBC RBC BEARINGS INC United States B0GLYB5 332.83 191,554 63,754,917.82
    0.86 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 181.13 344,506 62,400,371.78
    0.84 WWD WOODWARD INC United States 2948089 167.64 362,547 60,777,379.08
    0.78 MTZ MASTEC INC United States 2155306 116.98 483,602 56,571,761.96
    0.76 X UNITED STATES STEEL CORP United States 2824770 40.06 1,373,279 55,013,556.74
    0.72 CRS CARPENTER TECHNOLOGY United States 2177504 170.88 304,348 52,006,986.24
    0.72 BLD TOPBUILD CORP United States BZ0P3W2 288.63 179,984 51,948,781.92
    0.71 MLI MUELLER INDUSTRIES INC United States 2609717 74.12 693,461 51,399,329.32
    0.69 WMS ADVANCED DRAINAG United States BP7RS59 105.64 472,570 49,922,294.80
    0.68 TTEK TETRA TECH INC United States 2883890 30.19 1,634,830 49,355,517.70
    0.68 CR CRANE CO United States BNYD4F8 140.89 349,166 49,193,997.74
    0.63 EXP EAGLE MATERIALS INC United States 2191399 223.78 204,934 45,860,130.52
    0.63 AYI ACUITY INC United States 2818461 239.76 189,443 45,420,853.68
    0.61 WCC WESCO INTERNATIONAL INC United States 2416973 148.42 298,873 44,358,730.66
    0.56 ATI ATI Inc United States 2526117 46.73 869,579 40,635,426.67
    0.56 RRX REGAL REXNORD CORP United States 2730082 99.29 404,293 40,142,251.97
    0.54 AA ALCOA CORP United States BYNF418 24.75 1,575,879 39,003,005.25
    0.52 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 132.06 282,999 37,372,847.94
    0.51 LPX LOUISIANA-PACIFIC CORP United States 2535243 86.38 427,756 36,949,563.28
    0.48 VMI VALMONT INDUSTRIES United States 2926825 283.51 122,373 34,693,969.23
    0.46 BMI BADGER METER INC United States 2069128 183.50 179,386 32,917,331.00
    0.44 KNF KNIFE RIVER CORP United States BPLL4V5 93.03 345,719 32,162,238.57
    0.43 CSWI CSW INDUSTRIALS INC United States BYQD1J6 300.61 102,756 30,889,481.16
    0.42 ZWS Zurn Elkay Water Solution United States BMV1ZD3 29.41 1,035,063 30,441,202.83
    0.40 DNOW DNOW INC United States BMH0MV1 15.37 1,890,606 29,058,614.22
    0.40 CMC COMMERCIAL METALS CO United States 2213260 41.89 692,854 29,023,654.06
    0.39 RYI RYERSON HOLDING CORP United States B3TPPZ6 22.00 1,270,658 27,954,476.00
    0.38 PLPC PREFORMED LINE United States 2798466 140.07 198,962 27,868,607.34
    0.38 DY DYCOM INDUSTRIES INC United States 2289841 153.27 177,863 27,261,062.01
    0.37 TITN TITAN MACHINERY INC United States B29H3T5 16.34 1,652,370 26,999,725.80
    0.37 MWA MUELLER WATER-A United States B15RZR4 24.53 1,100,278 26,989,819.34
    0.37 HEES H&E EQUIPMENT SE United States B0WR848 90.93 293,646 26,701,230.78
    0.36 STRL STERLING INFRAST United States 2632876 137.09 187,844 25,751,533.96
    0.35 ROAD CONSTRUCTION P-A United States BDT5M66 80.36 315,779 25,376,000.44
    0.35 ASTE ASTEC INDUSTRIES INC United States 2060370 33.77 742,641 25,078,986.57
    0.34 EXPO EXPONENT INC United States 2330318 80.32 309,032 24,821,450.24
    0.33 IIIN INSTEEL INDUSTRIES INC United States 2325875 26.75 900,596 24,090,943.00
    0.33 MDU MDU RESOURCES GROUP INC United States 2547323 16.50 1,442,421 23,799,946.50
    0.32 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 54.23 425,304 23,064,235.92
    0.32 ACA ARCOSA INC United States BGPZ5W8 77.11 297,413 22,933,516.43
    0.32 GRC GORMAN-RUPP CO United States 2379281 33.42 684,931 22,890,394.02
    0.31 MTUS METALLUS INC United States BNBPMX1 12.68 1,761,055 22,330,177.40
    0.31 CALX CALIX INC United States B3S4L67 33.64 659,871 22,198,060.44
    0.30 CLF CLEVELAND-CLIFFS INC United States BYVZ186 7.34 3,011,654 22,105,540.36
    0.30 GVA GRANITE CONSTRUCTION INC United States 2381189 78.57 281,181 22,092,391.17
    0.30 AGX ARGAN INC United States 2804501 148.17 148,506 22,004,134.02
    0.30 NWPX NORTHWEST PIPE CO United States 2035925 41.63 523,427 21,790,266.01
    0.29 CTRI CENTURI HOLDINGS INC United States BMDPVF7 17.49 1,202,158 21,025,743.42
    0.28 CENX CENTURY ALUMINUM COMPANY United States 2186254 15.60 1,317,968 20,560,300.80
    0.28 TPC TUTOR PERINI CORP United States 2681760 20.90 978,858 20,458,132.20
    0.28 USLM US LIME & MINERA United States 2724115 91.63 219,899 20,149,345.37
    0.28 MTRN MATERION CORP United States 2149622 78.15 254,826 19,914,651.90
    0.28 HRI HERC HOLDINGS INC United States BZBZ020 114.97 172,854 19,873,024.38
    0.27 MTX MINERALS TECHNOLOGIES INC United States 2595612 56.28 344,919 19,412,041.32
    0.27 DXPE DXP ENTERPRISES INC United States 2276627 79.15 244,088 19,318,344.76
    0.26 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 111.86 169,124 18,918,210.64
    0.26 PRIM PRIMORIS SERVICES CORP United States B1GC200 57.23 328,178 18,781,626.94
    0.26 TEX TEREX CORP United States 2884224 34.96 533,301 18,644,202.96
    0.24 MRC MRC GLOBAL INC United States B7M66F1 10.26 1,731,271 17,762,840.46
    0.24 ATKR Atkore Inc United States BDHF495 58.01 301,306 17,478,761.06
    0.23 TRN TRINITY INDUSTRIES INC United States 2904627 25.24 663,621 16,749,794.04
    0.23 CTOS CUSTOM TRUCK ONE United States BL66YS4 3.41 4,858,714 16,568,214.74
    0.22 WNC WABASH NATIONAL CORP United States 2932048 9.82 1,657,958 16,281,147.56
    0.21 POWL POWELL INDUSTRIES INC United States 2697422 173.22 89,205 15,452,090.10
    0.21 GBX GREENBRIER COMPANIES INC United States 2387530 40.75 370,228 15,086,791.00
    0.13 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 12.96 703,678 9,119,666.88
    0.09 RTYM5 Index E-MINI RUSS 2000 JUN25 United States 93,450.00 68 6,354,600.00
    0.07 OTHER PAYABLE & RECEIVABLES United States 1.00 5,127,957 5,127,957.48
    0.06 CASH United States 1.00 4,384,326 4,384,326.31
    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 04/11/25

    Return on Equity 14.50%
    Weighted Avg. Market Cap 39,461 M
    2024 2025
    Price-to-earnings 20.07 18.63
    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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