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 (Source: American Society of Engineers, 2025 Report Card for America’s Infrastructure).
Multiple Catalysts
In addition to the prospect of federal stimulus, infrastructure investments may be catalysed by state, local and public-private partnerships on an ongoing basis.
Unconstrained Approach
As the economy evolves, so do infrastructure needs. The ETF seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry classification.
Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
ETF Summary
The Global X U.S. Infrastructure Development UCITS ETF (PAVE LN) 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.
ETF Objective
The Global X U.S. Infrastructure Development UCITS ETF (PAVE LN) 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 v2 Index.
Regulatory
SFDR Classification
Article 6
UCITS Compliant
Yes
ISA Eligibility
Yes
SIPP Eligibility
Yes
UK Reporting Status
Yes
Authorized Participants & Market Makers
Citigroup Global Markets, DRW Europe BV, Flow Traders BV, GHCO LLP, HSBC Bank PLC, Jane Street Financial Ltd, Mirae Asset Securities UK Ltd, Societe Generale SA, Susquehanna Intl Ltd, Virtu Financial Ireland Ltd, JP Morgan Securities PLC
Trading Details
As of 26 Jun 2026
Primary Ticker
PAVE
Primary ISIN
IE00BLCHJ534
Bloomberg Index Ticker
IPAVEN2
Number of Holdings
101
Index Provider
Indxx
Management Style
Physical - Full Replication - Passively Managed Index Tracking
Distributions(Distributing Share Class Only)
Distribution Frequency
Semi-Annually
Distribution Calendar
Key Information
As of 26 Jun 2026
Inception Date
02 Nov 2021
Total Expense Ratio
0.47%
Ongoing Charges
0.47%
Fund AUM
$810,480,173.14
Product Profile
Domicile
Ireland
Investment Manager
Global X Management Company LLC
Custodian
BBH
Asset Class
Equity
Performance History
USD Accumulating
ETF
Index
Difference
1 Year
35.66%
36.40%
-0.74%
3 Years
22.25%
22.87%
-0.62%
Since Inception
15.18%
15.77%
-0.59%
Trading Information
As of 26 Jun 2026
USD Accumulating (ISIN: IE00BLCHJ534)
Exchange
Trading Currency
Ticker
Listing Date
SEDOL
Net Asset Value (NAV)
Shares Outstanding
Net Assets
London Stock Exchange
USD
PAVE LN
04 Nov 2021
BP49DF3
$55.00 (-1.72%)
14,090,000
$774,934,772.50
Borsa Italiana
EUR
PAVE IM
18 Nov 2021
BP49DK8
--
--
--
Deutsche Börse Xetra
EUR
94VE GY
11 Nov 2021
BP49DH5
--
--
--
SIX Swiss Exchange
CHF
PAVE SW
06 Dec 2021
BP49DJ7
--
--
--
Bolsa Mexicana De Valores
MXN
PAVEUN MM
04 Mar 2022
BM8H8P7
--
--
--
USD Distributing (ISIN: IE00BLCHJ641)
Exchange
Trading Currency
Ticker
Listing Date
SEDOL
Net Asset Value (NAV)
Shares Outstanding
Net Assets
London Stock Exchange
GBP
PAVG LN
04 Nov 2021
BP6JGG3
$53.86 (-1.72%)
660,000
$35,545,400.64
London Stock Exchange
USD
PAVU LN
08 Jan 2024
BS557M6
--
--
--
Top Holdings
As of 26 Jun 2026
Net Assets (%)
Ticker
Name
Country
SEDOL
Market Price ($)
Shares Held
Market Value ($)
3.87
PWR
QUANTA SERVICES INC
US
2150204
687.87
45,742
31,464,549.54
3.51
CSX
CSX CORP
US
2160753
47.66
599,082
28,552,248.12
3.25
HWM
HOWMET AEROSPACE INC
US
BKLJ8V2
268.87
98,416
26,461,109.92
3.21
TT
TRANE TECHNOLOGIES PLC
IE
BK9ZQ96
477.89
54,723
26,151,574.47
3.17
ETN
EATON CORP PLC
IE
B8KQN82
402.68
64,138
25,827,089.84
3.09
URI
UNITED RENTALS INC
US
2134781
1,121.66
22,410
25,136,400.60
3.09
DE
DEERE & CO
US
2261203
613.24
40,966
25,121,989.84
3.05
UNP
UNION PACIFIC CORP
US
2914734
268.35
92,430
24,803,590.50
2.94
ROK
ROCKWELL AUTOMATION INC
US
2754060
476.82
50,203
23,937,794.46
2.89
SRE
SEMPRA
US
2138158
94.27
249,127
23,485,202.29
Sector Breakdown
As of 31 May 2026
Sector
Weight (%)
Industrials
72.0
Materials
23.1
Utilities
3.2
Information Technology
1.1
Consumer Discretionary
0.6
Source: AltaVista Research, LLC
ETF Characteristics
As of 26 Jun 2026
Return on Equity
15.10%
Average Market Cap
53,974 M
2025
2026
Price to Earnings
32.07
26.39
Price to Book
4.22
3.79
Source: AltaVista Research, LLC
Securities LendingSecurities Lending Active? Yes
As of 30 Jun 2026
ISIN
Security Description
Currency
Weight
Asset Class
Country of Issue
US91282CCH25
UNITED STATES OF AMER TREAS NOTES 1.25% NTS 30/06/2028 USD (M-2028)
USD
17.15%
Treasury
US
US91282CGW55
UNITED STATES OF AMER TREAS NOTES 1.25% NTS 15/04/2028 USD (X-2028)
Distribution Calendar
