IGF vs PAVE

IGFAiShares Global Infrastructure ETF

PAVEAGlobal X U.S. Infrastructure Development ETF

In short

IGF About 80 developed-market infrastructure companies in one ticker, tracked against the S&P Global Infrastructure Index since 2007, for 0.37% a year (well under the category norm).

PAVE Most 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

IGF The Fund seeks to track an index of developed-market equities focused on the infrastructure industry.

PAVE 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

• IGF Costs 0.37% a year against a cohort median of 0.55%, so the toll on a long hold is smaller than most infrastructure funds charge.
• The one other fund on the same S&P Global Infrastructure Index, GII, charges 0.40%. Same benchmark, cheaper wrapper here.
• Trading since December 2007, now a multi-billion-dollar, actively traded fund that has tracked its index closely.
• Goes global where the biggest peers stay home: IFRA and PAVE are US-only, while this one spans developed markets worldwide.

• PAVE 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

• IGF About 80 holdings in one industry. A concentrated basket, so a bad stretch for utilities or transport operators shows up fast.
• Distributions arrive once or twice a year, not monthly, and foreign holdings bring currency swings along with the dividends.
• Developed markets only. The fast-building infrastructure of emerging economies sits outside the mandate.

• PAVE 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.

Full IGF profile⁠

Full PAVE profile⁠