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SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456) is the distributor for the Global X Funds.
Check the background of SIDCO and Global X's Registered Representatives on FINRA's BrokerCheck.
U.S. Infrastructure Development ETF
ZAP seeks to invest in companies that stand to benefit from the increased electricity demand and electrification within the United States, including those involved in electricity generation, transmission, and distribution, and the modernization of grid infrastructure and smart grid technology.
IPAV seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in international markets, including those involved in engineering and construction services, the production of infrastructure raw materials, heavy construction equipment, infrastructure transportation, and smart grid components.
DTCR seeks to invest in companies that own, operate, or develop data centers and cellular towers, as well as those that manufacture the servers and hardware powering these facilities, offering targeted exposure to the digital infrastructure underpinning the AI economy.
PAVE can complement broad U.S. equity allocations by delivering targeted exposure to companies across the U.S. infrastructure development value chain that are poised to benefit from the convergence of AI infrastructure buildout, manufacturing reshoring, and rising power demand.
With a multi-year megaproject backlog and major planned U.S. manufacturing investment, the fund offers a way to position for capital expenditure reshaping the domestic industrial base, filling a gap in portfolios where infrastructure developers may be underrepresented relative to traditional industrial conglomerates.
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
America is committed to improving its aging infrastructure. The Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act appropriated nearly $1tn to fund critical infrastructure projects.2
As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry.
1American Society of Engineers, Mar 2025
2Politico, 2024
U.S. Manufacturing Resurgence Boosts Opportunities for Infrastructure Development
U.S. manufacturing investments are progressing, creating new opportunities for companies across the infrastructure development value chain.
Madeline Ruid
CapEx Supercycle: The Megaproject Wave Rewiring U.S. Infrastructure
A Thematic Playbook to Invest in the AI Ecosystem
The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.
The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.
America is in the middle of a construction boom that could create significant opportunities for companies throughout the infrastructure development value chain.
Madeline Ruid
AI is driving a stack of interlinked technologies, from semiconductors to data centers to energy, shaping the next era of growth and innovation.
Tejas Dessai
As of Nov 11, 2026
Net Assets (%) | Ticker | Name | SEDOL | Market Price ($) | Shares Held | Market Value ($) |
|---|---|---|---|---|---|---|
| 3.88% | FAST | FASTENAL CO | 2332262 | $55.49 | 9,539,946 | $529,371,604 |
| 3.72% | EMR | EMERSON ELECTRIC CO | 2313405 | $167.06 | 3,038,472 | $507,607,132 |
| 3.66% | DE |
Holdings are subject to change. "Cash" denotes U.S. dollars.
Overall rating out of 81 Infrastructure funds, based on risk-adjusted returns as of Oct 31, 2026.
Nov 11, 2026
30-Day SEC Yield
0.55%
Distribution Frequency
Semi-Annually
Record Date | Payable Date | Amount | |
|---|---|---|---|
| Dec 30, 2026 | Dec 30, 2026 | Jan 5, 2027 | - |
| Jun 29, 2026 | Jun 29, 2026 | Jul 2, 2026 | $0.10 |
Metric | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
Fund NAV | +11.96% | +23.85% | +14.97% | +14.81% |
Market Price | +11.85% | +23.81% | +14.95% | +14.81% |
Index | +12.31% | +24.49% | +15.59% | +15.40% |
As of Nov 11, 2026
As of Nov 11, 2026
As of Nov 11, 2026
What is Premium/Discount Chart?
How can the Fund trade at a premium/discount to its NAV?
What causes these time discrepancies?
As of Nov 11, 2026
As of Oct 31, 2026
| Sector | Weight (%) |
|---|---|
Industrials | 71.15% |
Materials | 23.66% |
Utilities | 3.54% |
Information Technology | 1.65% |
| Sector | Weight (%) |
|---|---|
Industrials | 71.15% |
Materials | 23.66% |
Utilities | 3.54% |
Information Technology | 1.65% |
Source: AltaVista Research, LLC
All Sector, Industry, Commodity and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.
As of Oct 31, 2026
PAVE seeks to invest in companies positioned to benefit from rising U.S. infrastructure activity, spanning raw materials producers, heavy equipment manufacturers, engineering firms, and construction companies. The Fund offers targeted exposure across the infrastructure value chain.
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. The Index is designed to track the performance of companies that have or are expected to have significant exposure to infrastructure development in the United States.
The Index considers companies across four sub-themes: construction and engineering services, raw materials and composites, products and equipment, and industrial transportation. Only companies generating at least 50% of their revenues from the U.S. and deriving a significant portion of their revenues from these industries, or whose primary business is focused on these products and services, are eligible. The Index includes the top 100 infrastructure development companies by market capitalization.
Highlights
As of Nov 11, 2026
As of Nov 11, 2026
| DEERE & CO |
| 2261203 |
| $691.75 |
| 721,448 |
| $499,061,654 |
| 3.50% | NUE | NUCOR CORP | 2651086 | $261.39 | 1,825,790 | $477,243,248 |
| 3.26% | URI | UNITED RENTALS INC | 2134781 | $1150.80 | 386,453 | $444,730,112 |
| 3.20% | UNP | UNION PACIFIC CORP | 2914734 | $302.11 | 1,446,780 | $437,086,706 |
| 3.18% | PH | PARKER HANNIFIN CORP | 2671501 | $972.90 | 446,554 | $434,452,387 |
| 3.17% | CSX | CSX CORP | 2160753 | $51.90 | 8,336,522 | $432,665,492 |
| 3.17% | CRH | CRH PLC | B01ZKD6 | $96.26 | 4,491,328 | $432,335,233 |
| 3.06% | NSC | NORFOLK SOUTHERN CORP | 2641894 | $330.59 | 1,263,094 | $417,566,245 |
The Premium/Discount chart demonstrates the difference between the daily market price of shares of the Fund and the Fund's net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.
Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.
Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.
International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.
| Industry | Weight (%) |
|---|---|
Capital Goods | 60.61% |
Materials | 23.72% |
Transportation | 9.67% |
Utilities | 3.30% |
Technology Hardware & Equipment | 1.65% |
Commercial & Professional Services | 1.05% |
As of Nov 11, 2026
Source: AltaVista Research, LLC
