NAV | $22.94 | Daily Change | $0.19 | 0.82% |
Market Price | $22.92 | Daily Change | $0.15 | 0.66% |
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
In addition to the prospect of federal stimulus, infrastructure investments may be catalyzed by state, local and public-private partnerships on an ongoing basis.
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 classification.
1American Society of Engineers, Mar 2021
Inception Date | 03/06/17 |
Total Expense Ratio | 0.47% |
Net Assets | $3.58 billion |
NAV | $22.94 |
Fact Sheet |
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.
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.
Ticker | PAVE |
Bloomberg Index Ticker | IPAVE |
CUSIP | 37954Y673 |
ISIN | US37954Y6730 |
Primary Exchange | Cboe |
Shares Outstanding | 156,180,000 |
Number of Holdings | 99 |
30-Day Median Bid-Ask Spread | 0.04% |
30-Day SEC Yield | 0.94% |
Distribution Frequency | Semi-Annually |
NAV | $22.94 | Daily Change | $0.19 | 0.82% |
Market Price | $22.92 | Daily Change | $0.15 | 0.66% |
As of recent (03/31/22)
As of recent (03/31/22)
|
Fund NAV | Market Price | Index |
---|---|---|---|
1 Year | 13.56% | 13.42% | 14.24% |
3 Years | 22.45% | 22.45% | 23.13% |
5 Years | 14.62% | 14.56% | 15.21% |
Since Inception | 13.97% | 13.99% | 14.55% |
1 Year | -2.00% | -2.00% | -1.41% |
3 Years | 21.06% | 21.07% | 21.72% |
5 Years | 13.25% | 13.23% | 13.83% |
Since Inception | 11.55% | 11.57% | 12.12% |
Year-to-Date | -1.77% | -1.77% | -1.55% |
1 Month | 5.61% | 5.64% | 5.66% |
3 Months | -1.77% | -1.77% | -1.55% |
Since Inception | 94.02% | 94.16% | 99.16% |
Year-to-Date | -10.29% | -10.28% | -10.01% |
1 Month | -1.90% | -1.71% | -1.82% |
3 Months | -3.55% | -3.51% | -3.42% |
Since Inception | 77.20% | 77.34% | 82.05% |
Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance of the Fund, when observed, is unusual and investors should not expect such performance to be repeated.
Net Assets (%) | Ticker | Name | SEDOL | Market Price ($) | Shares Held | Market Value ($) |
---|---|---|---|---|---|---|
3.89 | SRE | SEMPRA ENERGY | 2138158 | 153.56 | 903,356 | 138,719,347.36 |
3.88 | NUE | NUCOR CORP | 2651086 | 105.64 | 1,309,599 | 138,346,038.36 |
3.00 | UNP | UNION PACIFIC CORP | 2914734 | 215.26 | 497,928 | 107,183,981.28 |
3.00 | FAST | FASTENAL CO | 2332262 | 49.74 | 2,153,717 | 107,125,883.58 |
2.96 | EMR | EMERSON ELECTRIC CO | 2313405 | 80.36 | 1,316,879 | 105,824,396.44 |
2.96 | CSX | CSX CORP | 2160753 | 29.34 | 3,597,220 | 105,542,434.80 |
2.84 | DE | DEERE & CO | 2261203 | 301.63 | 336,226 | 101,415,848.38 |
2.82 | NSC | NORFOLK SOUTHERN CORP | 2641894 | 228.55 | 440,343 | 100,640,392.65 |
2.73 | ETN | EATON CORP PLC | B8KQN82 | 127.37 | 764,135 | 97,327,874.95 |
2.71 | PH | PARKER HANNIFIN CORP | 2671501 | 249.06 | 388,161 | 96,675,378.66 |
2.65 | MLM | MARTIN MARIETTA MATERIALS | 2572079 | 296.05 | 320,013 | 94,739,848.65 |
2.63 | FTV | FORTIVE CORP | BYT3MK1 | 54.87 | 1,710,077 | 93,831,924.99 |
2.61 | VMC | VULCAN MATERIALS CO | 2931205 | 142.47 | 654,042 | 93,181,363.74 |
2.58 | TT | TRANE TECHNOLOGIES PLC | BK9ZQ96 | 131.37 | 700,972 | 92,086,691.64 |
2.32 | PWR | QUANTA SERVICES INC | 2150204 | 126.14 | 655,359 | 82,666,984.26 |
2.26 | URI | UNITED RENTALS INC | 2134781 | 244.36 | 329,535 | 80,525,172.60 |
2.18 | ROK | ROCKWELL AUTOMATION INC | 2754060 | 198.71 | 390,790 | 77,653,880.90 |
2.10 | J | JACOBS ENGIN GRP | 2469052 | 126.40 | 593,044 | 74,960,761.60 |
1.88 | TRMB | TRIMBLE INC | 2903958 | 57.99 | 1,154,349 | 66,940,698.51 |
1.78 | IEX | IDEX CORP | 2456612 | 183.66 | 345,464 | 63,447,918.24 |
1.75 | HWM | HOWMET AEROSPACE INC | BKLJ8V2 | 31.80 | 1,965,620 | 62,506,716.00 |
1.70 | STLD | STEEL DYNAMICS INC | 2849472 | 66.23 | 914,212 | 60,548,260.76 |
1.63 | WLK | Westlake Corporation | B01ZP20 | 98.86 | 587,259 | 58,056,424.74 |
1.63 | CSL | CARLISLE COS INC | 2176318 | 241.20 | 240,566 | 58,024,519.20 |
1.42 | BLDR | BUILDERS FIRSTSOURCE INC | B0BV2M7 | 57.46 | 882,336 | 50,699,026.56 |
1.38 | RS | RELIANCE STEEL & ALUMINUM | 2729068 | 171.07 | 288,220 | 49,305,795.40 |
1.34 | RPM | RPM INTERNATIONAL INC | 2756174 | 80.49 | 595,444 | 47,927,287.56 |
1.31 | GGG | GRACO INC | 2380443 | 59.50 | 783,011 | 46,589,154.50 |
1.27 | HUBB | HUBBELL INC | BDFG6S3 | 181.55 | 249,732 | 45,338,844.60 |
1.19 | ACM | AECOM | B1VZ431 | 65.44 | 647,829 | 42,393,929.76 |
1.08 | AA | ALCOA CORP | BYNF418 | 44.78 | 861,335 | 38,570,581.30 |
1.02 | CLF | CLEVELAND-CLIFFS INC | BYVZ186 | 15.76 | 2,303,066 | 36,296,320.16 |
0.99 | PNR | PENTAIR PLC | BLS09M3 | 46.47 | 758,778 | 35,260,413.66 |
0.99 | RRX | REGAL REXNORD CORP | 2730082 | 112.83 | 312,108 | 35,215,145.64 |
0.97 | TTEK | TETRA TECH INC | 2883890 | 138.79 | 248,830 | 34,535,115.70 |
0.94 | LECO | LINCOLN ELECTRIC HOLDINGS | 2516851 | 124.24 | 271,409 | 33,719,854.16 |
0.84 | WMS | ADVANCED DRAINAG | BP7RS59 | 91.89 | 326,760 | 30,025,976.40 |
0.76 | WWD | WOODWARD INC | 2948089 | 93.48 | 288,616 | 26,979,823.68 |
0.74 | BLD | TOPBUILD CORP | BZ0P3W2 | 175.14 | 151,269 | 26,493,252.66 |
0.72 | MDU | MDU RESOURCES GROUP INC | 2547323 | 27.67 | 931,928 | 25,786,447.76 |
0.71 | AYI | ACUITY BRANDS INC | 2818461 | 157.84 | 160,446 | 25,324,796.64 |
0.71 | EME | EMCOR GROUP INC | 2474164 | 103.02 | 244,276 | 25,165,313.52 |
0.69 | MTZ | MASTEC INC | 2155306 | 72.08 | 340,515 | 24,544,321.20 |
0.68 | WCC | WESCO INTERNATIONAL INC | 2416973 | 105.83 | 230,922 | 24,438,475.26 |
0.68 | ROLL | RBC BEARINGS INC | B0GLYB5 | 185.54 | 131,631 | 24,422,815.74 |
0.66 | CR | CRANE HOLDINGS CO | BQ7W2W6 | 88.23 | 268,145 | 23,658,433.35 |
0.63 | X | UNITED STATES STEEL CORP | 2824770 | 17.91 | 1,245,473 | 22,306,421.43 |
0.62 | VMI | VALMONT INDUSTRIES | 2926825 | 226.70 | 97,343 | 22,067,658.10 |
0.62 | LPX | LOUISIANA-PACIFIC CORP | 2535243 | 54.58 | 403,295 | 22,011,841.10 |
0.61 | EXPO | EXPONENT INC | 2330318 | 91.59 | 238,114 | 21,808,861.26 |
0.59 | EXP | EAGLE MATERIALS INC | 2191399 | 112.29 | 186,386 | 20,929,283.94 |
0.53 | CMC | COMMERCIAL METALS CO | 2213260 | 33.81 | 556,318 | 18,809,111.58 |
0.51 | ATKR | Atkore Inc | BDHF495 | 85.94 | 211,914 | 18,211,889.16 |
0.47 | TMST | TIMKENSTEEL CORP | BNBPMX1 | 18.43 | 916,532 | 16,891,684.76 |
0.46 | MRC | MRC GLOBAL INC | B7M66F1 | 10.01 | 1,625,879 | 16,275,048.79 |
0.42 | ZWS | ZURN WATER SOLUTIONS CORP | BMV1ZD3 | 27.48 | 549,949 | 15,112,598.52 |
0.42 | DXPE | DXP ENTERPRISES INC | 2276627 | 31.27 | 477,375 | 14,927,516.25 |
0.41 | DY | DYCOM INDUSTRIES INC | 2289841 | 94.08 | 153,922 | 14,480,981.76 |
0.39 | ATI | ALLEGHENY TECH | 2526117 | 22.33 | 625,345 | 13,963,953.85 |
0.39 | MLI | MUELLER INDUSTRIES INC | 2609717 | 53.28 | 259,786 | 13,841,398.08 |
0.37 | DNOW | NOW INC | BMH0MV1 | 9.70 | 1,376,311 | 13,350,216.70 |
0.37 | ARNC | ARCONIC CORP | BKLJ8S9 | 28.32 | 470,263 | 13,317,848.16 |
0.36 | NWPX | NORTHWEST PIPE CO | 2035925 | 29.88 | 432,483 | 12,922,592.04 |
0.36 | SUM | SUMMIT MATERIA-A | BW9JPS4 | 23.08 | 549,509 | 12,682,667.72 |
0.35 | RYI | RYERSON HOLDING CORP | B3TPPZ6 | 21.56 | 580,866 | 12,523,470.96 |
0.35 | SPXC | SPX CORP | 2787185 | 53.44 | 233,626 | 12,484,973.44 |
0.35 | HRI | HERC HOLDINGS INC | BZBZ020 | 91.69 | 135,368 | 12,411,891.92 |
0.34 | AGX | ARGAN INC | 2804501 | 37.89 | 323,674 | 12,264,007.86 |
0.33 | ACA | ARCOSA INC | BGPZ5W8 | 46.31 | 254,431 | 11,782,699.61 |
0.33 | MYRG | MYR GROUP INC/DELAWARE | B3CLS18 | 86.25 | 134,948 | 11,639,265.00 |
0.32 | CRS | CARPENTER TECHNOLOGY | 2177504 | 27.40 | 419,529 | 11,495,094.60 |
0.32 | GBX | GREENBRIER COMPANIES INC | 2387530 | 35.65 | 320,309 | 11,419,015.85 |
0.31 | BMI | BADGER METER INC | 2069128 | 80.59 | 136,474 | 10,998,439.66 |
0.31 | POWL | POWELL INDUSTRIES INC | 2697422 | 23.36 | 470,306 | 10,986,348.16 |
0.31 | CSWI | CSW INDUSTRIALS INC | BYQD1J6 | 104.84 | 104,695 | 10,976,223.80 |
0.31 | MWA | MUELLER WATER-A | B15RZR4 | 11.74 | 933,852 | 10,963,422.48 |
0.31 | HAYN | HAYNES INTERNATIONAL INC | B02WVH7 | 32.01 | 341,562 | 10,933,399.62 |
0.31 | ROAD | CONSTRUCTION P-A | BDT5M66 | 20.58 | 528,323 | 10,872,887.34 |
0.30 | IIIN | INSTEEL INDUSTRIES INC | 2325875 | 35.74 | 303,278 | 10,839,155.72 |
0.30 | TRN | TRINITY INDUSTRIES INC | 2904627 | 24.41 | 440,366 | 10,749,334.06 |
0.30 | AIMC | ALTRA INDUSTRIAL | B1L82T2 | 35.93 | 295,775 | 10,627,195.75 |
0.30 | MTX | MINERALS TECHNOLOGIES INC | 2595612 | 61.68 | 171,789 | 10,595,945.52 |
0.30 | PRIM | PRIMORIS SERVICES CORP | B1GC200 | 21.93 | 481,719 | 10,564,097.67 |
0.29 | STRL | STERLING INFRAST | 2632876 | 21.96 | 475,608 | 10,444,351.68 |
0.29 | WLDN | WILLDAN GROUP INC | B1HP598 | 26.16 | 393,076 | 10,282,868.16 |
0.28 | GVA | GRANITE CONSTRUCTION INC | 2381189 | 29.18 | 335,923 | 9,802,233.14 |
0.27 | CALX | CALIX INC | B3S4L67 | 34.96 | 277,710 | 9,708,741.60 |
0.26 | TPC | TUTOR PERINI CORP | 2681760 | 8.90 | 1,057,075 | 9,407,967.50 |
0.26 | TITN | TITAN MACHINERY INC | B29H3T5 | 22.72 | 403,883 | 9,176,221.76 |
0.25 | TEX | TEREX CORP | 2884224 | 27.93 | 314,537 | 8,785,018.41 |
0.24 | ROCK | GIBRALTAR INDUSTRIES INC | 2369226 | 39.95 | 214,009 | 8,549,659.55 |
0.24 | GRC | GORMAN-RUPP CO | 2379281 | 28.45 | 300,399 | 8,546,351.55 |
0.24 | HEES | H&E EQUIPMENT SE | B0WR848 | 29.11 | 293,398 | 8,540,815.78 |
0.24 | CTOS | CUSTOM TRUCK ONE | BL66YS4 | 5.17 | 1,641,423 | 8,486,156.91 |
0.24 | WNC | WABASH NATIONAL CORP | 2932048 | 13.69 | 617,124 | 8,448,427.56 |
0.22 | ATCX | ATLAS TECHNICAL | BLM57V9 | 5.08 | 1,568,983 | 7,970,433.64 |
0.22 | ASTE | ASTEC INDUSTRIES INC | 2060370 | 41.50 | 188,324 | 7,815,446.00 |
0.21 | CMCO | COLUMBUS MCKINNON CORP/NY | 2211071 | 28.79 | 258,498 | 7,442,157.42 |
0.16 | CENX | CENTURY ALUMINUM COMPANY | 2186254 | 7.28 | 763,235 | 5,556,350.80 |
0.05 | CASH | 1.00 | 1,933,577 | 1,933,577.04 |
Sector | Weight (%) | |
---|---|---|
Industrials | 67.2 | |
Materials | 25.0 | |
Utilities | 4.3 | |
Information Technology | 2.5 | |
Consumer Discretionary | 0.7 | |
Financials | 0.2 | |
Other/Cash | 0.1 |
Source: AltaVista Research, LLC
Return on Equity | 22.20% | |
Weighted Avg. Market Cap | 25,357 M | |
2021 | 2022 | |
Price-to-earnings | 13.04 | 10.81 |
Price-to-book value | 2.66 | 2.19 |
Source: AltaVista Research, LLC
Versus | Beta |
---|---|
S&P 500 | 1.22 |
MSCI EAFE | 1.23 |
MSCI Emg. Mkts | 0.98 |
Standard Deviation | 25.20% |
Source: AltaVista Research, LLC
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Read MoreExchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
As of 5/31, PAVE was rated against the following numbers of Infrastructure funds over the following time periods: 89 during the last 3 years, 75 during the last 5 years. With respect to these Infrastructure funds, PAVE received a Morningstar Rating of 5 stars, for both periods. Past performance is not indicative of future results.
© 2022 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Investing involves risk, including the possible loss of principal. Narrowly focused investments typically exhibit higher volatility. Investments in infrastructure-related companies have greater exposure to the potential adverse economic, regulatory, political and other changes affecting such entities. Investment in infrastructure-related companies are subject to various risks including governmental regulations, high interest costs associated with capital construction programs, costs associated with compliance and changes in environmental regulation, economic slowdown and excess capacity, competition from other providers of services and other factors. PAVE is non-diversified.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.
Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.
Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Indxx, nor does Indxx make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Indxx.