PAVE


U.S. Infrastructure Development ETF

Fund Summary

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.

Fund Objective

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.

Why PAVE?

Invest in Infrastructure

PAVE offers access to a range of companies involved in multiple facets of infrastructure development.

Targeted Exposure

The fund is a targeted thematic play on the future of infrastructure in the United States.

ETF Efficiency

PAVE allows investors to buy and sell a broad basket of U.S. equities involved in infrastructure projects, with the tax efficiency of an ETF.

Fund Details As of 02/25/21

Key Facts

Ticker PAVE
Inception Date 03/06/17
CUSIP 37954Y673
ISIN US37954Y6730
Bloomberg Index Ticker IPAVE
Primary Exchange Cboe
Number of Holdings 101

Stats & Fees

Net Assets $1,460,064,725
Net Asset Value (NAV) $23.03
Shares Outstanding 63,400,000
Total Expense Ratio 0.47%

Distributions

30-Day SEC Yield 0.64%
Distribution Frequency Semi-Annually

Fund Prices As of 02/25/21

NAV $23.03 Daily Change -$0.58 -2.44%
Market Price $23.06 Daily Change -$0.58 -2.45%
30-Day Median Bid-Ask Spread 0.09%

Performance History

As of recent
(12/31/20)
As of recent
(12/31/20)
Fund NAV Market Price Index
1 Year 20.10% 19.84% 20.67%
3 Years 8.99% 8.87% 9.49%
Since Inception 10.22% 10.20% 10.71%
1 Year 22.84% 22.70% 23.47%
3 Years 7.15% 7.05% 7.65%
Since Inception 9.42% 9.42% 9.92%
Year-to-Date 20.10% 19.84% 20.67%
1 Month 5.12% 4.86% 5.18%
3 Months 26.41% 26.21% 26.61%
Since Inception 44.96% 44.89% 47.59%
Year-to-Date -1.98% -1.93% -1.92%
1 Month -1.98% -1.93% -1.92%
3 Months 19.58% 19.65% 19.80%
Since Inception 42.09% 42.09% 44.75%

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.

Fund Characteristics As of 02/24/21

Return on Equity 13.50%
Weighted Avg. Market Cap 19,930 M
2020 2021
Price-to-earnings 29.45 21.96
Price-to-book value 3.13 2.84

Source: AltaVista Research, LLC

Fund Risk Stats As of 02/24/21

Versus Beta
S&P 500 1.33
MSCI EAFE 1.29
MSCI Emg. Mkts 1.08
Standard Deviation 26.30%

Source: AltaVista Research, LLC

Sector Breakdown As of 01/31/21

% of Net Assets
Industrials 61.1
Materials 25.9
Information Technology 6.7
Financials 4.7
Utilities 1.2
Other/Cash 0.4

Source: AltaVista Research, LLC

Top Holdings As of 02/26/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
3.33 DE DEERE & CO 2261203 349.12 143,897 50,237,320.64
3.06 VMC VULCAN MATERIALS CO 2931205 166.99 276,787 46,220,661.13
3.03 ETN EATON CORP PLC B8KQN82 130.19 351,483 45,759,571.77
3.02 PH PARKER HANNIFIN CORP 2671501 286.96 158,712 45,543,995.52
3.01 NSC NORFOLK SOUTHERN CORP 2641894 252.06 180,495 45,495,569.70
2.99 EMR EMERSON ELECTRIC CO 2313405 85.90 525,544 45,144,229.60
2.91 CSX CSX CORP 2160753 91.55 479,965 43,940,795.75
2.89 TT TRANE TECHNOLOGIES PLC BK9ZQ96 153.24 284,694 43,626,508.56
2.89 UNP UNION PACIFIC CORP 2914734 205.96 211,639 43,589,168.44
2.80 FAST FASTENAL CO 2332262 46.37 913,051 42,338,174.87
2.76 SRE SEMPRA ENERGY 2138158 115.98 359,471 41,691,446.58
2.75 URI UNITED RENTALS INC 2134781 297.38 139,397 41,453,879.86
2.74 FTV FORTIVE CORP BYT3MK1 65.82 627,540 41,304,682.80
2.68 MLM MARTIN MARIETTA MATERIALS 2572079 336.87 120,230 40,501,880.10
2.67 ROK ROCKWELL AUTOMATION INC 2754060 243.28 165,488 40,259,920.64
2.54 KSU KANSAS CITY SOUTHERN 2607647 212.34 180,816 38,394,469.44
2.37 TRMB TRIMBLE INC 2903958 74.14 483,251 35,828,229.14
2.33 NUE NUCOR CORP 2651086 59.82 587,730 35,158,008.60
1.93 J JACOBS ENGIN GRP 2469052 115.08 253,085 29,125,021.80
1.90 IEX IDEX CORP 2456612 195.17 147,361 28,760,446.37
1.57 HWM HOWMET AEROSPACE INC BKLJ8V2 28.11 843,798 23,719,161.78
1.50 PWR QUANTA SERVICES INC 2150204 83.85 270,299 22,664,571.15
1.50 GGG GRACO INC 2380443 69.35 326,123 22,616,630.05
1.40 WLK WESTLAKE CHEMICAL CORP B01ZP20 85.32 248,447 21,197,498.04
1.34 RPM RPM INTERNATIONAL INC 2756174 79.64 253,236 20,167,715.04
1.24 HUBB HUBBELL INC BDFG6S3 177.51 105,630 18,750,381.30
1.20 PNR PENTAIR PLC BLS09M3 55.93 323,668 18,102,751.24
1.14 BLDR BUILDERS FIRSTSOURCE INC B0BV2M7 43.27 399,092 17,266,715.38
1.13 STLD STEEL DYNAMICS INC 2849472 41.58 409,327 17,019,816.66
1.10 ACM AECOM B1VZ431 57.89 287,538 16,645,574.82
1.09 RS RELIANCE STEEL & ALUMINUM 2729068 132.20 124,140 16,411,308.00
1.00 CSL CARLISLE COS INC 2176318 145.25 103,791 15,075,642.75
1.00 WMS ADVANCED DRAINAG BP7RS59 110.02 136,982 15,070,759.64
0.96 TTEK TETRA TECH INC 2883890 138.37 104,621 14,476,407.77
0.92 WWD WOODWARD INC 2948089 114.22 122,141 13,950,945.02
0.90 LECO LINCOLN ELECTRIC HOLDINGS 2516851 118.11 115,641 13,658,358.51
0.83 MTZ MASTEC INC 2155306 86.75 143,575 12,455,131.25
0.81 BLD TOPBUILD CORP BZ0P3W2 190.41 64,145 12,213,849.45
0.73 MDU MDU RESOURCES GROUP INC 2547323 28.10 389,898 10,956,133.80
0.70 RXN REXNORD CORP B4NPMX6 44.95 233,941 10,515,647.95
0.69 EME EMCOR GROUP INC 2474164 97.37 106,898 10,408,658.26
0.69 CLF CLEVELAND-CLIFFS INC BYVZ186 13.34 776,622 10,360,137.48
0.67 EXP EAGLE MATERIALS INC 2191399 125.38 81,231 10,184,742.78
0.67 LPX LOUISIANA-PACIFIC CORP 2535243 47.61 212,401 10,112,411.61
0.65 VMI VALMONT INDUSTRIES 2926825 236.53 41,253 9,757,572.09
0.64 ROLL RBC BEARINGS INC B0GLYB5 199.06 48,833 9,720,696.98
0.64 EXPO EXPONENT INC 2330318 96.47 100,414 9,686,938.58
0.63 CR CRANE CO 2231897 83.86 112,910 9,468,632.60
0.59 AA ALCOA CORP BYNF418 24.55 361,268 8,869,129.40
0.57 AYI ACUITY BRANDS INC 2818461 123.30 70,062 8,638,644.60
0.52 WCC WESCO INTERNATIONAL INC 2416973 80.28 97,166 7,800,486.48
0.48 AIMC ALTRA INDUSTRIAL B1L82T2 57.92 125,729 7,282,223.68
0.47 TRN TRINITY INDUSTRIES INC 2904627 32.10 221,849 7,121,352.90
0.47 X UNITED STATES STEEL CORP 2824770 16.61 428,298 7,114,029.78
0.41 ATKR Atkore Inc BDHF495 67.65 92,315 6,245,109.75
0.41 BMI BADGER METER INC 2069128 108.59 57,126 6,203,312.34
0.41 SUM SUMMIT MATERIA-A BW9JPS4 27.71 221,386 6,134,606.06
0.39 CMC COMMERCIAL METALS CO 2213260 25.15 232,970 5,859,195.50
0.38 DNOW NOW INC BMH0MV1 10.63 542,161 5,763,171.43
0.38 GBX GREENBRIER COMPANIES INC 2387530 47.05 121,834 5,732,289.70
0.37 ROCK GIBRALTAR INDUSTRIES INC 2369226 87.35 63,683 5,562,710.05
0.37 TEX TEREX CORP 2884224 41.18 134,001 5,518,161.18
0.36 HRI HERC HOLDINGS INC BZBZ020 87.76 62,359 5,472,625.84
0.36 AEGN AEGION CORP B764L34 25.85 210,494 5,441,269.90
0.35 ACA ARCOSA INC BGPZ5W8 56.73 93,753 5,318,607.69
0.35 MRC MRC GLOBAL INC B7M66F1 8.74 603,760 5,276,862.40
0.35 CENX CENTURY ALUMINUM COMPANY 2186254 13.73 382,228 5,247,990.44
0.34 HAYN HAYNES INTERNATIONAL INC B02WVH7 27.93 184,767 5,160,542.31
0.34 CMCO COLUMBUS MCKINNON CORP/NY 2211071 50.34 102,269 5,148,221.46
0.33 CALX CALIX INC B3S4L67 39.51 127,184 5,025,039.84
0.33 AGX ARGAN INC 2804501 50.02 99,094 4,956,681.88
0.33 FRTA FORTERRA INC BYT4SV7 23.27 212,399 4,942,524.73
0.32 ATI ALLEGHENY TECH 2526117 19.66 246,065 4,837,637.90
0.32 SPXC SPX CORP 2787185 55.59 86,983 4,835,384.97
0.32 IIIN INSTEEL INDUSTRIES INC 2325875 30.88 156,584 4,835,313.92
0.32 PRIM PRIMORIS SERVICES CORP B1GC200 33.47 144,181 4,825,738.07
0.32 TITN TITAN MACHINERY INC B29H3T5 24.50 196,930 4,824,785.00
0.32 MTX MINERALS TECHNOLOGIES INC 2595612 71.23 67,356 4,797,767.88
0.31 DY DYCOM INDUSTRIES INC 2289841 76.58 61,998 4,747,806.84
0.31 USCR US CONCRETE INC B4M8043 51.46 92,012 4,734,937.52
0.31 MTW MANITOWOC COMPANY INC BDFCGV4 16.29 289,390 4,714,163.10
0.31 MLI MUELLER INDUSTRIES INC 2609717 40.64 115,756 4,704,323.84
0.31 ARNC ARCONIC CORP BKLJ8S9 21.92 211,900 4,644,848.00
0.31 MWA MUELLER WATER-A B15RZR4 12.89 358,442 4,620,317.38
0.31 NWPX NORTHWEST PIPE CO 2035925 34.03 135,429 4,608,648.87
0.30 GVA GRANITE CONSTRUCTION INC 2381189 34.38 132,415 4,552,427.70
0.30 POWL POWELL INDUSTRIES INC 2697422 31.13 145,231 4,521,041.03
0.30 MTRX MATRIX SERVICE CO 2572068 13.57 332,828 4,516,475.96
0.30 ASTE ASTEC INDUSTRIES INC 2060370 67.92 66,419 4,511,178.48
0.30 CSWI CSW INDUSTRIALS INC BYQD1J6 125.57 35,452 4,451,707.64
0.29 TISI TEAM INC 2879123 11.09 397,095 4,403,783.55
0.29 HEES H&E EQUIPMENT SE B0WR848 30.93 140,622 4,349,438.46
0.29 WNC WABASH NATIONAL CORP 2932048 16.58 260,871 4,325,241.18
0.28 GRC GORMAN-RUPP CO 2379281 31.99 133,565 4,272,744.35
0.28 STRL STERLING CONSTRUCTION CO 2632876 22.78 186,628 4,251,385.84
0.27 RYI RYERSON HOLDING CORP B3TPPZ6 12.73 323,124 4,113,368.52
0.27 MYRG MYR GROUP INC/DELAWARE B3CLS18 58.95 68,896 4,061,419.20
0.26 TPC TUTOR PERINI CORP 2681760 14.70 268,228 3,942,951.60
0.26 ROAD CONSTRUCTION P-A BDT5M66 28.94 135,955 3,934,537.70
0.26 WLDN WILLDAN GROUP INC B1HP598 43.86 87,790 3,850,469.40
0.12 CASH 1.00 1,748,601 1,748,601.09
0.00 MLI 6 03/01/27 BYXD3G0 1.02 1,000 1,022.60
Holdings are subject to change.


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.