PAVE — Global X U.S. Infrastructure Development ETF

PAVE Price Performance — Growth of $10,000

Value of a $10,000 investment in PAVE over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

PAVE Drawdown

The "underwater" chart: PAVE's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Global X U.S. Infrastructure Development ETF, issued by Global X Funds, tracks the Industrials category with $13.4 billion in assets under management. It holds a C grade with a score of 55.6 out of 100, placing it fourth among nine similar funds and 304th across all tracked ETFs. The fund’s 0.47% expense ratio exceeds the category median of 0.35%, while its 0.84% dividend yield matches the peer average. Top ten holdings comprise 32.3% of assets, with QUANTA SERVICES, INC. representing the largest single position at 4.2%.

Price action shows the fund trading at $51.60, which sits at 41.1% of its 52-week range between $45.44 and $60.43. Short-term returns have been negative, with one-month and three-month figures of -2.77% and -10.23% respectively. In contrast, the one-year return of +10.30% outperforms the category median of +7.97%, and the three-year return stands at +84.52%. The ETFValuer grade has remained unchanged at C for the last 35 tracked days, based on 3.0 years of available price history.

With a beta of 1.29, the fund exhibits higher sensitivity to market movements than the broader index. Annualized volatility of 20.33% is classified as Moderate, contributing to a maximum drawdown of -26.23%. The Sharpe ratio of 0.26 suggests modest risk-adjusted returns relative to the volatility experienced. Liquidity is supported by an average daily volume of 1,549,215 shares, indicating active trading conditions.

AI-generated summary based on the data on this page.

PAVE Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 32.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how PAVE's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With PAVE

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with PAVE's top 10 — IYT overlaps most, holding 3 of the same companies as PAVE's top 10 (9.5% of PAVE's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

PAVE Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 1.5M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $13.4B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: PAVE is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

PAVE Performance History

How PAVE Compares to Other Industrials ETFs