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Name

As of 12/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Global X U.S. Infrastructure Development ETF

PAVE | ETF

$40.75

$9.72 B

0.39%

$0.16

0.47%

Vitals

YTD Return

18.5%

1 yr return

21.0%

3 Yr Avg Return

15.2%

5 Yr Avg Return

18.6%

Net Assets

$9.72 B

Holdings in Top 10

31.2%

52 WEEK LOW AND HIGH

$40.9
$33.20
$45.95

Expenses

OPERATING FEES

Expense Ratio 0.47%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 12/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Global X U.S. Infrastructure Development ETF

PAVE | ETF

$40.75

$9.72 B

0.39%

$0.16

0.47%

PAVE - Profile

Distributions

  • YTD Total Return 18.5%
  • 3 Yr Annualized Total Return 15.2%
  • 5 Yr Annualized Total Return 18.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.64%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Global X U.S. Infrastructure Development ETF
  • Fund Family Name
    Global X Funds
  • Inception Date
    Mar 06, 2017
  • Shares Outstanding
    169467987
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Nam To

Fund Description

The Fund invests at least 80% of its total assets in the securities of the Indxx U.S. Infrastructure Development Index ("Underlying Index"). The Fund's 80% investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed. The Fund may lend securities representing up to one-third of the value of the Fund’s total assets (including the value of the collateral received).
The Underlying Index is designed to measure the performance of U.S. listed companies that provide exposure to domestic infrastructure development, including companies involved in construction and engineering; production of infrastructure raw materials, composites and products; industrial transportation; and producers/distributors of heavy construction equipment (collectively, "U.S. Infrastructure Development Companies"), as defined by Indxx, LLC, the provider of the Underlying Index ("Index Provider").
The eligible universe of the Underlying Index includes the most liquid and investable companies in accordance with the standard market capitalization and liquidity criteria associated with developed markets, as defined by the Index Provider. As of January 31, 2024, companies must have a minimum market capitalization of $300 million and a minimum average daily turnover for the last 6 months (or since the IPO launch date for Significant IPOs as defined by the Index Provider) greater than or equal to $1 million in order to be eligible for inclusion in the Underlying Index. The Underlying Index only includes companies listed in the United States.
From the eligible universe, the Index Provider identifies U.S. Infrastructure Development Companies by applying a proprietary analysis that consists of two primary components: theme identification and company analysis. As part of the theme identification process, the Index Provider analyzes industry reports, investment research and spending trends related to infrastructure development in order to establish the themes that are expected to provide the most exposure to increased investment in U.S. infrastructure. As of January 31, 2024, the Index Provider has identified the following four U.S. infrastructure development themes: (1) Construction and Engineering Services, (2) Raw Materials and Composites, (3) Products and Equipment, and (4) Industrial Transportation (collectively, "U.S. Infrastructure Development Themes").
In the second step of the process, companies are analyzed based on two primary criteria: revenue exposure and primary business operations. A company is eligible for inclusion in the Underlying Index if (i) it derives a significant portion of its revenue from the U.S. Infrastructure Development Themes, or (ii) it has stated its primary business to be in products and services focused on the U.S. Infrastructure Development Themes, as determined by the Index Provider. Furthermore, only companies that generate greater than 50% of revenues from the United States as of the index selection date, as determined by the Index Provider, are eligible for inclusion in the Underlying Index. Accordingly, the Fund assets will be concentrated (that is, it will hold 25% or more of its total assets) in companies that provide exposure to U.S. infrastructure development.
The Underlying Index is weighted according to a modified capitalization weighting methodology and is reconstituted and rebalanced annually. At the annual rebalance, a capping methodology is applied to reduce concentration in individual securities and increase diversification of the Underlying Index. The Underlying Index may include large-, mid- or small-capitalization companies, and components primarily include industrials and materials companies. The Fund's investment objective and Underlying Index may be changed without shareholder approval.
The Underlying Index is sponsored by the Index Provider, which is an organization that is independent of, and unaffiliated with, the Fund and Global X Management Company LLC, the investment adviser for the Fund ("Adviser"). The Index Provider determines the relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
The Adviser uses a "passive" or indexing approach to try to achieve the Fund's investment objective. Unlike many investment companies, the Fund does not try to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear overvalued.
The Fund generally will use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Underlying Index in approximately the same proportions as in the Underlying Index. However, the Fund may utilize a representative sampling strategy with respect to the Underlying Index when a replication strategy might be detrimental or disadvantageous to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to replicate the Underlying Index, in instances in which a security in the Underlying Index becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund but not the Underlying Index.
The Adviser expects that, over time, the correlation between the Fund's performance and that of the Underlying Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation. If the Fund uses a replication strategy, it can be expected to have greater correlation to the Underlying Index than if it uses a representative sampling strategy.
The Fund concentrates its investments (i.e., holds 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. As of January 31, 2024, the Underlying Index had significant exposure to the industrials sector.
Read More

PAVE - Performance

Return Ranking - Trailing

Period PAVE Return Category Return Low Category Return High Rank in Category (%)
YTD 18.5% -15.1% 19.5% 3.26%
1 Yr 21.0% -12.7% 21.6% 3.26%
3 Yr 15.2%* -12.9% 15.2% 1.09%
5 Yr 18.6%* -3.2% 18.6% 1.33%
10 Yr N/A* 2.2% 8.4% 60.53%

* Annualized

Return Ranking - Calendar

Period PAVE Return Category Return Low Category Return High Rank in Category (%)
2023 30.1% -17.5% 30.1% 1.09%
2022 -8.0% -28.1% -3.4% 13.04%
2021 35.7% -28.7% 35.7% 1.15%
2020 19.1% -12.5% 28.8% 2.67%
2019 32.3% 9.9% 33.6% 2.70%

Total Return Ranking - Trailing

Period PAVE Return Category Return Low Category Return High Rank in Category (%)
YTD 18.5% -15.1% 19.5% 3.26%
1 Yr 21.0% -12.7% 21.6% 3.26%
3 Yr 15.2%* -12.9% 15.2% 1.09%
5 Yr 18.6%* -3.2% 18.6% 1.33%
10 Yr N/A* 2.2% 8.4% N/A

* Annualized

Total Return Ranking - Calendar

Period PAVE Return Category Return Low Category Return High Rank in Category (%)
2023 31.0% -15.6% 31.0% 1.09%
2022 -7.2% -27.1% -0.5% 40.22%
2021 36.4% -3.5% 36.4% 1.15%
2020 19.7% -11.2% 29.9% 2.67%
2019 33.3% 16.7% 35.3% 2.70%

PAVE - Holdings

Concentration Analysis

PAVE Category Low Category High PAVE % Rank
Net Assets 9.72 B 1.83 M 9.72 B 1.09%
Number of Holdings 99 26 233 13.04%
Net Assets in Top 10 2.5 B 823 K 5.61 B 3.26%
Weighting of Top 10 31.18% 8.2% 62.5% 92.39%

Top 10 Holdings

  1. TRANE TECHNOLOGIES PLC COMMON STOCK 3.71%
  2. UNITED RENTALS INC COMMON STOCK 3.33%
  3. PARKER HANNIFIN CORP COMMON STOCK 3.32%
  4. EATON CORP PLC COMMON STOCK 3.27%
  5. QUANTA SERVICES INC COMMON STOCK 3.11%
  6. HOWMET AEROSPACE INC COMMON STOCK 3.10%
  7. SEMPRA COMMON STOCK 2.97%
  8. EMERSON ELECTRIC CO COMMON STOCK 2.85%
  9. MARTIN MARIETTA MATERIALS COMMON STOCK 2.77%
  10. NORFOLK SOUTHERN CORP COMMON STOCK 2.75%

Asset Allocation

Weighting Return Low Return High PAVE % Rank
Stocks 		99.82% 86.92% 101.95% 4.35%
Cash 		0.18% 0.00% 8.62% 96.74%
Preferred Stocks 		0.00% 0.00% 2.81% 85.87%
Other 		0.00% -0.22% 3.96% 78.26%
Convertible Bonds 		0.00% 0.00% 2.46% 84.78%
Bonds 		0.00% 0.00% 6.41% 84.78%

Stock Sector Breakdown

Weighting Return Low Return High PAVE % Rank
Industrials 		68.24% 0.00% 68.24% 1.09%
Basic Materials 		22.34% 0.00% 25.54% 2.17%
Technology 		4.88% 0.00% 25.65% 7.61%
Utilities 		3.71% 3.71% 96.19% 100.00%
Energy 		0.83% 0.00% 32.46% 80.43%
Real Estate 		0.00% 0.00% 23.51% 96.74%
Healthcare 		0.00% 0.00% 6.54% 83.70%
Financial Services 		0.00% 0.00% 17.28% 85.87%
Communication Services 		0.00% 0.00% 27.53% 97.83%
Consumer Defense 		0.00% 0.00% 0.99% 83.70%
Consumer Cyclical 		0.00% 0.00% 10.02% 85.87%

Stock Geographic Breakdown

Weighting Return Low Return High PAVE % Rank
US 		99.82% 1.96% 99.99% 2.17%
Non US 		0.00% 0.00% 97.95% 98.91%

PAVE - Expenses

Operational Fees

PAVE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.47% 0.30% 10.15% 94.57%
Management Fee 0.47% 0.30% 1.00% 7.61%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

PAVE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PAVE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PAVE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 13.00% 128.00% 7.22%

PAVE - Distributions

Dividend Yield Analysis

PAVE Category Low Category High PAVE % Rank
Dividend Yield 0.39% 0.00% 5.50% 98.91%

Dividend Distribution Analysis

PAVE Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Quarterly Quarterly Quarterly

Net Income Ratio Analysis

PAVE Category Low Category High PAVE % Rank
Net Income Ratio 0.64% -0.39% 4.38% 85.23%

Capital Gain Distribution Analysis

PAVE Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

PAVE - Fund Manager Analysis

Managers

Nam To

Start Date

Tenure

Tenure Rank

Mar 01, 2018

4.25

4.3%

Nam To, CFA, joined Global X Management Company LLC in July 2017 as a Portfolio Management Analyst. Mr. To has been a Portfolio Manager of the Fund since March 1, 2018. Previously, Mr. To was a Global Economics Research Analyst at Bunge Limited from 2014 through 2017 and an Advisory and Investment Analyst at Horizon Capital Group from June 2013 through August 2013. Mr. To received his Bachelor of Arts in Philosophy and Economics from Cornell University in 2014.

Wayne Xie

Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Wayne Xie joined the Global X Management Company LLC in July 2018 as a Portfolio Management Associate. Previously, Mr. Xie was an Analyst at VanEck Associates on the Equity ETF Investment Management team from 2010 to 2018 and a Portfolio Administrator at VanEck Associates from 2007 to 2010. Mr. Xie received his BS in Business Administration from State University of New York at Buffalo.

Kimberly Chan

Start Date

Tenure

Tenure Rank

Jun 10, 2019

2.98

3.0%

Kimberly Chan is a Portfolio Management Associate. Previously, Ms. Chan was a US Associate Trader at Credit Agricole from 2016 to 2018, and an Investment Analyst at MetLife Investments from 2015 to 2016. Ms. Chan received her Bachelor of Science from New York University in 2015.

Vanessa Yang

Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Vanessa Yang, Portfolio Management Associate, joined Global X Management Company LLC in 2016 as a Portfolio Administrator. She was appointed to the portfolio management team in June 2019. Previously, Ms. Yang was a Portfolio Administrator at VanEck Associates from 2011 to 2014. Ms. Yang received her MS in Financial Engineering from Drucker School of Management in 2010 and her BS in Economics from Guangdong University of Foreign Studies in 2008.

Sandy Lu

Start Date

Tenure

Tenure Rank

Apr 01, 2022

0.16

0.2%

Sandy Lu, CFA, Portfolio Manager, joined the Adviser in September 2021. Previously, Mr. Lu worked at PGIM Fixed Income from 2014 to 2021, where he led the portfolio analyst team covering Emerging Markets Debt. He began his career in 2010 as an Investment Analyst at Lincoln Financial Group. Mr. Lu graduated with a B.S. in Economics from the Wharton School of the University of Pennsylvania. He earned his CFA designation in September 2015, and holds the Series 3 license.

William Helm

Start Date

Tenure

Tenure Rank

Apr 01, 2022

0.16

0.2%

William Helm, CFA, Portfolio Manager, joined the Adviser in September 2021. Previously, Mr. Helm spent 14 years at Vanguard where he most recently served as an Equity Portfolio Manager and Trader. Previously, he held roles in Portfolio Review, Corporate Strategy and Corporate Finance. Mr. Helm received his BBA in Economics from Belmont University in 2007 and his MBA from Columbia Business School in 2020.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 18.18 5.81 8.08

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