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Launched · SEC filings

Global X U.S. Infrastructure Development ETF

PAVECboeGlobal XA

$54.83+0.38 (+0.70%)

At close: Nov 3, 2026, 4:00 PM ET

A71/ 100

Rank 5 of 34 in Infrastructure

A71/100Rank 5 of 34inInfrastructure
Intraday session: up, 79 prints from 54.45 to 54.83. Range 54.68 to 55.28. Use the arrow keys to read each point.54.6055.0055.2010 AM12 PM2 PM4 PM
Expense ratio
0.47%
Fund size
$13.9B
1Y total return
+13.8%
Yield · Last 12 months
0.79%
Holdings
100
Avg volume · 30D
1.7M sh
52W range
low $45.44high $60.43
Launched
Filings
SEC EDGAR

The ETF.net PAVE Grade

Based on 5 of 6 pillars

A

Score 71 out of 100

Category
Infrastructure⁠
Rank
5 of 34
Six-pillar profile for PAVE. Scores out of 100: Cost 74, Risk 39, Mission not scored, Tradability 93, Holdings 75, Durability 84. Strongest: Tradability (93). Weakest: Risk (39). Based on 5 of 6 pillars.

Score 71 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A74 out of 100
    Rank 7 of 34

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D39 out of 100
    Rank 25 of 34

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A93 out of 100
    Rank 3 of 34

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A75 out of 100
    Rank 7 of 32

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A84 out of 100
    Rank 4 of 34

Our read on PAVE

ETF.net Research

In short

AMost infrastructure funds own the toll roads and pipelines. PAVE owns the US companies that build them, tracking the Indxx U.S. Infrastructure Development Index since its 2017 launch.

Stated mandate

The fund seeks to track, before fees and expenses, the price and yield performance of the Indxx U.S. Infrastructure Development Index.

Why people hold it

  • Charges 0.47% a year, undercutting the typical fee among infrastructure ETFs.
  • A multi-billion-dollar fund that trades actively, which generally means tight spreads at everyday order sizes.
  • About 100 US-listed names, so the exposure is domestic build-out rather than the global utility-and-pipeline basket you get in IGF or GII.
  • Live since 2017 and one of the stronger implementations in its infrastructure peer group.

Worth knowing

  • Builders, machinery and materials names move with the economic cycle, and this fund screens as riskier than the infrastructure category norm.
  • US-only by mandate, so no overseas airports or toll roads; peers like IGF and GII cover that ground.
  • Distributions land once or twice a year, so income is a side effect here, not the design.

PAVE Holdings

Holdings pillarA75 out of 100Rank 7 of 32 in Infrastructure
Asset class
Stocks
Holdings
100
Top-10 weight
34%
Largest holding
EMR3.7%

Sectors

  • Industrials75.2%
  • Materials18.7%
  • Utilities3.5%
  • Technology2.5%

Geography

  • United States98.36%
  • Switzerland1.38%
  • Belgium0.26%
The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1EMREmerson Electric Co3.70%3,110,952$513M320
2NUENucor Corp3.69%1,869,278$512M349
3FASTFastenal Co3.66%9,767,654$507M377
4DEDeere & Co3.60%738,964$499M363
5URIUnited Rentals Inc3.34%395,513$463M347
6UNPUnion Pacific Corp3.25%1,481,208$450M415
7CSXCsx Corp3.20%8,535,842$444M392
8NSCNorfolk Southern Corp3.20%1,293,294$443M265
9PWRQuanta Services Inc3.09%689,481$428M372
10ROKRockwell Automation Inc3.08%978,573$427M357
11CRHCrh PLC3.01%4,598,840$418M227
12SRESempra2.99%4,824,238$415M308
13PHParker Hannifin Corp2.97%457,426$412M365
14ETNEaton Corp PLC2.90%1,085,872$402M336
15TTTrane Technologies PLC2.78%939,682$385M369

Showing 1–15 of 100 holdings

PAVE Performance

Launched Mar 6, 2017

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
PAVE$11,379
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. PAVE $11,379. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PAVE. Periods over one year show the average yearly return.
PeriodPAVE
Year to date+14.1%
1 month+1.1%
3 months−3.4%
1 year+13.8%
3 yearsper year+23.2%
5 yearsper year+15.0%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PAVE
YearReturn barPAVE
2026 YTD+14.1%
2025+19.4%
2024+17.9%
2023+31.0%
2022−7.2%
2021+36.4%
2020+19.7%

PAVE in the news

PAVE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 2, 2026.
0.79%Last 12 months
Payout per share
$0.43Last 12 months
Last payment
$0.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2017–2026

One bar per payment. 17 payments from 2017 to 2026 YTD. Dec 28, 2017 $0.05; Dec 28, 2018 $0.11; Jun 27, 2019 $0.07; Dec 30, 2019 $0.05; Jun 29, 2020 $0.04; Dec 30, 2020 $0.06; Jun 29, 2021 $0.04; Dec 30, 2021 $0.10; Jun 29, 2022 $0.08; Dec 29, 2022 $0.14; Jun 29, 2023 $0.08; Dec 28, 2023 $0.16; Jun 27, 2024 $0.08; Dec 30, 2024 $0.14; Jun 27, 2025 $0.11; Dec 30, 2025 $0.33; Jun 29, 2026 $0.10. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jul 2, 2026$0.10
Dec 30, 2025Jan 7, 2026$0.33
Jun 27, 2025Jul 7, 2025$0.11
Dec 30, 2024Jan 7, 2025$0.14
Jun 27, 2024Jul 5, 2024$0.08
Dec 28, 2023Jan 8, 2024$0.16
Jun 29, 2023Jul 10, 2023$0.08
Dec 29, 2022Jan 9, 2023$0.14
Jun 29, 2022Jul 8, 2022$0.08
Dec 30, 2021Jan 7, 2022$0.10
Jun 29, 2021Jul 8, 2021$0.04
Dec 30, 2020Jan 8, 2021$0.06

See all 17 payments⁠

$10,000 in PAVE 5 years ago paid $461 in dividends.⁠

PAVE Risk

Risk pillarD39 out of 100Rank 25 of 34 in Infrastructure
How much the fund’s monthly returns vary, scaled to a year.
20.1%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.95
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−26.2%
Trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.21
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

PAVE Cost

Compare PAVE and IFRA

Overpaying vs IFRA, cheapest in Infrastructure

$3,269

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PAVE 0.47%

    $9,418

  • IFRA 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • PAVE 0.47%
  • IFRA 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530PAVE $9,418IFRA $6,149

Year by year

YearPAVEIFRAOverpaying
10$847$545$302
20$3,261$2,113$1,148
30$9,418$6,149$3,269

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