The American Society of Civil Engineers assigned a letter grade of C- to the state of US infrastructure in its 2021 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 US$1 trillion to fund critical infrastructure projects.
As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry classification.
1 ASCE. (n.d.) Report Card For America’s Infrastructure.
Inception Date | 3 Jun 2024 |
Management Costs (% p.a.) | 0.47 |
Currency Hedged | No |
Domicile | Australia |
Legal Form | Managed Investment Scheme |
SMSF Eligible | Yes |
NAV/Unit (A$) | 9.64200000 |
Currency (NAV) | AUD |
Shares Outstanding | 200,000 |
AUM (A$) | 1,928,397.62 |
NAV History File | View |
The Global X US Infrastructure Development ETF (PAVE) aims to capture a resurging focus on infrastructure in the world’s largest economy. It does so by investing in US-domiciled companies involved in the construction, engineering, material procurement, transportation, and equipment distribution processes of infrastructure projects.
The Global X US Infrastructure Development ETF seeks to provide investors with a return that (before fees and expenses) tracks the performance of the Indxx U.S. Infrastructure Development Index.
Ticker | PAVE |
Bloomberg Code | PAVE AU Equity |
ISIN | AU0000333247 |
Trading Hours | 10:00AM – 4:00PM |
Issuer | Global X Management (AUS) Limited |
Custodian | The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch |
Registrar | Computershare Investor Services Pty Limited |
Trustee | Global X Management (AUS) Limited |
Benchmark | Indxx U.S. Infrastructure Development Index |
Provider | Indxx Inc. |
Ticker | PAVE |
Distribution Frequency | Semi-Annually |
Total Return (Fund) | Total Return (Benchmark) | Tracking Difference | Tracking Error | |
---|---|---|---|---|
1 Month | -- | -- | -- | -- |
3 Months | -- | -- | -- | -- |
1 Year | -- | -- | -- | -- |
3 Year p.a. | -- | -- | -- | -- |
5 Year p.a. | -- | -- | -- | -- |
10 Year p.a. | -- | -- | -- | -- |
Since Inception | -3.58% | -3.55% | -0.03% | 0.67% |
Net Assets (%) | Name | SEDOL | Market Price (Local) | Shares Held | Market Value (A$) |
---|---|---|---|---|---|
3.60 | EATON CORP PLC | B8KQN82 | 312.37 | 148 | 69,515 |
3.56 | TRANE TECHNOLOGI | BK9ZQ96 | 321.36 | 142 | 68,616 |
3.17 | EMERSON ELEC CO | 2313405 | 108.05 | 376 | 61,088 |
3.10 | UNITED RENTALS | 2134781 | 640.84 | 62 | 59,743 |
3.01 | QUANTA SERVICES | 2150204 | 247.61 | 156 | 58,082 |
2.99 | MARTIN MAR MTLS | 2572079 | 532.05 | 72 | 57,601 |
2.97 | PARKER HANNIFIN | 2671501 | 501.01 | 76 | 57,254 |
2.93 | SEMPRA | 2138158 | 74.97 | 502 | 56,590 |
2.74 | VULCAN MATERIALS | 2931205 | 243.72 | 144 | 52,771 |
2.70 | CSX CORP | 2160753 | 33.59 | 1,032 | 52,124 |
2.68 | HOWMET AEROSPACE | BKLJ8V2 | 77.30 | 444 | 51,607 |
2.59 | UNION PAC CORP | 2914734 | 224.86 | 148 | 50,040 |
2.59 | DEERE & CO | 2261203 | 360.99 | 92 | 49,938 |
2.57 | NUCOR CORP | 2651086 | 157.00 | 210 | 49,575 |
2.51 | FASTENAL CO | 2332262 | 62.09 | 518 | 48,361 |
2.50 | NORFOLK SOUTHERN | 2641894 | 214.06 | 150 | 48,281 |
2.44 | ROCKWELL AUTOMAT | 2754060 | 265.52 | 118 | 47,111 |
2.14 | FORTIVE CORP | BYT3MK1 | 72.12 | 380 | 41,208 |
1.75 | STEEL DYNAMICS | 2849472 | 129.15 | 174 | 33,790 |
1.62 | HUBBELL INC | BDFG6S3 | 359.14 | 58 | 31,321 |
1.61 | CARLISLE COS INC | 2176318 | 397.61 | 52 | 31,089 |
1.54 | WESTLAKE CORP | B01ZP20 | 143.32 | 138 | 29,739 |
1.47 | JACOBS SOLUTIONS | BNGC0D3 | 138.30 | 136 | 28,282 |
1.40 | EMCOR GROUP INC | 2474164 | 359.66 | 50 | 27,040 |
1.40 | BUILDERS FIRSTSO | B0BV2M7 | 133.99 | 134 | 26,997 |
1.35 | RELIANCE INC | 2729068 | 279.98 | 62 | 26,101 |
1.25 | IDEX CORP | 2456612 | 195.89 | 82 | 24,153 |
1.16 | TRIMBLE INC | 2903958 | 55.69 | 268 | 22,442 |
1.16 | RPM INTL INC | 2756174 | 105.92 | 140 | 22,297 |
1.10 | GRACO INC | 2380443 | 77.82 | 182 | 21,297 |
1.03 | PENTAIR PLC | BLS09M3 | 74.42 | 178 | 19,918 |
1.03 | ADVANCED DRAINAG | BP7RS59 | 156.71 | 84 | 19,793 |
1.01 | TOPBUILD COR | BZ0P3W2 | 379.86 | 34 | 19,420 |
0.98 | AECOM | B1VZ431 | 85.68 | 146 | 18,810 |
0.89 | TETRA TECH INC | 2883890 | 197.82 | 58 | 17,252 |
0.89 | LINCOLN ELECTRIC | 2516851 | 184.49 | 62 | 17,199 |
0.86 | WOODWARD INC | 2948089 | 171.41 | 64 | 16,495 |
0.74 | REGAL REXNORD CO | 2730082 | 132.18 | 72 | 14,310 |
0.72 | US STEEL CORP | 2824770 | 38.19 | 242 | 13,897 |
0.70 | TUTOR PERINI COR | 2681760 | 21.06 | 424 | 13,427 |
0.69 | CRANE CO | BNYD4F8 | 143.03 | 62 | 13,334 |
0.69 | MASTEC INC | 2155306 | 103.00 | 86 | 13,319 |
0.68 | WESCO INTL | 2416973 | 155.15 | 56 | 13,064 |
0.67 | RBC BEARINGS INC | B0GLYB5 | 267.98 | 32 | 12,894 |
0.66 | CLEVELAND-CLIFFS | BYVZ186 | 15.39 | 546 | 12,635 |
0.64 | ACUITY BRANDS | 2818461 | 241.40 | 34 | 12,341 |
0.63 | EAGLE MATERIALS | 2191399 | 214.29 | 38 | 12,244 |
0.59 | ALCOA CORP | BYNF418 | 39.70 | 192 | 11,461 |
0.58 | ATI INC | 2526117 | 54.26 | 138 | 11,259 |
0.54 | SPX TECHNOLOGIES | BQ1L7V3 | 139.19 | 50 | 10,465 |
0.53 | MUELLER INDS | 2609717 | 56.09 | 122 | 10,289 |
0.53 | COMMERCIAL METAL | 2213260 | 53.52 | 126 | 10,140 |
0.51 | POWELL INDS INC | 2697422 | 143.43 | 46 | 9,921 |
0.50 | LOUISIANA-PACIFI | 2535243 | 82.31 | 78 | 9,654 |
0.46 | BADGER METER INC | 2069128 | 184.77 | 32 | 8,891 |
0.46 | VALMONT INDS | 2926825 | 268.04 | 22 | 8,867 |
0.46 | ARGAN INC | 2804501 | 71.48 | 82 | 8,813 |
0.45 | CARPENTER TECH | 2177504 | 106.97 | 54 | 8,686 |
0.45 | STERLING INFRAST | 2632876 | 114.76 | 50 | 8,628 |
0.44 | US LIME & MINERA | 2724115 | 350.18 | 16 | 8,425 |
0.42 | MDU RES GROUP | 2547323 | 24.59 | 220 | 8,134 |
0.42 | DYCOM INDS | 2289841 | 168.39 | 32 | 8,102 |
0.42 | ZURN ELKAY WATER | BMV1ZD3 | 28.76 | 186 | 8,044 |
0.42 | CENTURY ALUMINUM | 2186254 | 16.67 | 320 | 8,021 |
0.41 | ATKORE INC | BDHF495 | 132.33 | 40 | 7,959 |
0.41 | PRIMORIS SERVICE | B1GC200 | 47.60 | 110 | 7,873 |
0.39 | EXPONENT INC | 2330318 | 93.45 | 54 | 7,588 |
0.39 | DXP ENTERPRISES | 2276627 | 44.31 | 112 | 7,462 |
0.38 | DNOW INC | BMH0MV1 | 13.49 | 366 | 7,424 |
0.38 | GRANITE CONSTR | 2381189 | 60.24 | 80 | 7,246 |
0.36 | SUMMIT MATERIA-A | BW9JPS4 | 35.63 | 130 | 6,965 |
0.36 | CONSTRUCTION P-A | BDT5M66 | 53.64 | 86 | 6,936 |
0.35 | MUELLER WATER-A | B15RZR4 | 17.56 | 254 | 6,707 |
0.34 | MINERALS TECH | 2595612 | 81.77 | 54 | 6,639 |
0.34 | MRC GLOBAL INC | B7M66F1 | 12.67 | 348 | 6,630 |
0.33 | KNIFE RIVER | BPLL4V5 | 68.61 | 62 | 6,396 |
0.33 | CSW INDUSTRI INC | BYQD1J6 | 263.55 | 16 | 6,341 |
0.33 | ARCOSA INC | BGPZ5W8 | 80.76 | 52 | 6,315 |
0.32 | NORTHWEST PIPE | 2035925 | 33.05 | 126 | 6,262 |
0.32 | TRINITY INDUSTRI | 2904627 | 29.23 | 140 | 6,153 |
0.31 | HAYNES INTL INC | B02WVH7 | 58.65 | 68 | 5,997 |
0.30 | HERC HOLDINGS IN | BZBZ020 | 129.24 | 30 | 5,830 |
0.30 | GORMAN-RUPP CO | 2379281 | 35.87 | 108 | 5,825 |
0.30 | TEREX CORP | 2884224 | 53.58 | 72 | 5,801 |
0.30 | GREENBRIER COS | 2387530 | 49.10 | 78 | 5,759 |
0.29 | CRANE NXT CO | BQ7W2W6 | 59.61 | 62 | 5,557 |
0.28 | METALLUS INC | BNBPMX1 | 20.20 | 178 | 5,407 |
0.27 | MYR GROUP INC/DE | B3CLS18 | 132.90 | 26 | 5,196 |
0.25 | COLUMBUS MCKI/NY | 2211071 | 33.32 | 96 | 4,810 |
0.25 | INSTEEL INDS | 2325875 | 30.05 | 106 | 4,790 |
0.25 | MATERION CORP | 2149622 | 104.98 | 30 | 4,736 |
0.24 | WABASH NATIONAL | 2932048 | 21.52 | 142 | 4,595 |
0.24 | GIBRALTAR INDUST | 2369226 | 66.06 | 46 | 4,569 |
0.23 | ASTEC INDUSTRIES | 2060370 | 28.82 | 104 | 4,507 |
0.23 | H&E EQUIPMENT SE | B0WR848 | 42.75 | 70 | 4,500 |
0.22 | CALIX INC | B3S4L67 | 34.85 | 82 | 4,297 |
0.19 | CUSTOM TRUCK ONE | BL66YS4 | 4.22 | 566 | 3,591 |
0.16 | RYERSON HOLDING | B3TPPZ6 | 19.29 | 108 | 3,133 |
0.16 | TITAN MACHINERY | B29H3T5 | 15.23 | 134 | 3,069 |
Sector | Weight (%) | |
---|---|---|
Industrials | 72.1 | |
Materials | 21.7 | |
Utilities | 2.9 | |
Information Technology | 2.1 | |
Consumer Discretionary | 1.0 | |
Other/Cash | 0.2 |
Country | Weight (%) | |
---|---|---|
United States | 95.2 | |
Ireland | 3.6 | |
Britain | 1.0 | |
Other/Cash | 0.2 |
Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.