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$1 trillion to fund critical infrastructure projects.
As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry classification.
1 ASCE. (n.d.) Report Card For America’s Infrastructure.
Inception Date | 3 Jun 2024 |
Management Costs (% p.a.) | 0.47 |
Currency Hedged | No |
Domicile | Australia |
Legal Form | Managed Investment Scheme |
SMSF Eligible | Yes |
NAV/Unit (A$) | 12.05280000 |
Currency (NAV) | AUD |
Shares Outstanding | 575,000 |
AUM (A$) | 6,930,365.78 |
NAV History File | View |
The Global X US Infrastructure Development ETF (PAVE) aims to capture a resurging focus on infrastructure in the world’s largest economy. It does so by investing in US-domiciled companies involved in the construction, engineering, material procurement, transportation, and equipment distribution processes of infrastructure projects.
The Global X US Infrastructure Development ETF seeks to provide investors with a return that (before fees and expenses) tracks the performance of the Indxx U.S. Infrastructure Development Index.
Ticker | PAVE |
Bloomberg Code | PAVE AU Equity |
ISIN | AU0000333247 |
Trading Hours | 10:00AM – 4:00PM |
Issuer | Global X Management (AUS) Limited |
Custodian | The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch |
Registrar | Computershare Investor Services Pty Limited |
Trustee | Global X Management (AUS) Limited |
Benchmark | Indxx U.S. Infrastructure Development Index |
Provider | Indxx Inc. |
Ticker | PAVE |
Distribution Frequency | Semi-Annually |
Distribution History | View |
Total Return (Fund) | Total Return (Benchmark) | Tracking Difference | Tracking Error | |
---|---|---|---|---|
1 Month | 10.37% | 10.43% | -0.07% | 0.02% |
3 Months | 21.93% | 22.14% | -0.21% | 0.03% |
1 Year | -- | -- | -- | -- |
3 Year p.a. | -- | -- | -- | -- |
5 Year p.a. | -- | -- | -- | -- |
10 Year p.a. | -- | -- | -- | -- |
Since Inception | 20.53% | 20.88% | -0.35% | 0.04% |
Net Assets (%) | Name | SEDOL | Market Price (Local) | Shares Held | Market Value (A$) |
---|---|---|---|---|---|
3.71 | Trane Technologies PLC | BK9ZQ96 | 411.14 | 409 | 256,943 |
3.46 | Eaton Corp PLC | B8KQN82 | 368.99 | 425 | 239,622 |
3.42 | United Rentals Inc | 2134781 | 866.73 | 179 | 237,061 |
3.38 | Parker-Hannifin Corp | 2671501 | 699.32 | 219 | 234,015 |
3.25 | Quanta Services Inc | 2150204 | 327.27 | 450 | 225,031 |
3.20 | Howmet Aerospace Inc | BKLJ8V2 | 113.58 | 1,278 | 221,797 |
3.06 | Emerson Electric Co | 2313405 | 128.40 | 1,081 | 212,087 |
2.94 | Sempra | 2138158 | 92.20 | 1,444 | 203,433 |
2.77 | Martin Marietta Materials Inc | 2572079 | 606.79 | 207 | 191,925 |
2.74 | Fastenal Co | 2332262 | 83.50 | 1,490 | 190,106 |
2.63 | Vulcan Materials Co | 2931205 | 288.38 | 414 | 182,427 |
2.54 | Norfolk Southern Corp | 2641894 | 267.45 | 431 | 176,134 |
2.36 | CSX Corp | 2160753 | 36.13 | 2,967 | 163,798 |
2.31 | Deere & Co | 2261203 | 393.75 | 266 | 160,039 |
2.24 | Union Pacific Corp | 2914734 | 238.91 | 425 | 155,148 |
2.08 | Rockwell Automation Inc | 275406 | 277.88 | 340 | 144,364 |
2.05 | Nucor Corp | 2651086 | 153.89 | 603 | 141,792 |
1.81 | Fortive Corp | BYT3MK1 | 75.05 | 1,092 | 125,227 |
1.65 | Hubbell Inc | BDFG6S3 | 452.03 | 166 | 114,657 |
1.63 | EMCOR Group Inc | 2474164 | 514.08 | 144 | 113,114 |
1.59 | Steel Dynamics Inc | 2849472 | 144.35 | 501 | 110,504 |
1.52 | Builders FirstSource Inc | B0BV2M7 | 178.65 | 385 | 105,096 |
1.49 | Carlisle Cos Inc | 2176318 | 453.04 | 149 | 103,145 |
1.27 | Jacobs Solutions Inc | BNGC0D3 | 147.11 | 391 | 87,891 |
1.26 | Reliance Inc | 2729068 | 319.81 | 179 | 87,472 |
1.24 | Trimble Inc | 2903958 | 72.81 | 771 | 85,777 |
1.20 | RPM International Inc | 2756174 | 135.89 | 402 | 83,471 |
1.18 | IDEX Corp | 2456612 | 227.97 | 235 | 81,860 |
1.17 | Pentair PLC | BLS09M3 | 104.08 | 512 | 81,426 |
1.12 | Westlake Corp | B01ZP2 | 127.75 | 397 | 77,495 |
1.04 | AECOM | B1VZ431 | 112.16 | 420 | 71,980 |
1.02 | Graco Inc | 2380443 | 88.12 | 524 | 70,555 |
1.00 | Powell Industries Inc | 2697422 | 343.86 | 132 | 69,355 |
0.88 | Tetra Tech Inc | 288389 | 48.26 | 827 | 60,984 |
0.84 | Lincoln Electric Holdings Inc | 2516851 | 214.54 | 178 | 58,351 |
0.80 | Argan Inc | 2804501 | 154.14 | 235 | 55,349 |
0.79 | Tutor Perini Corp | 268176 | 29.23 | 1,219 | 54,445 |
0.78 | Regal Rexnord Corp | 2730082 | 170.54 | 207 | 53,941 |
0.78 | TopBuild Corp | BZ0P3W2 | 360.00 | 98 | 53,908 |
0.76 | MasTec Inc | 2155306 | 139.73 | 247 | 52,736 |
0.75 | Eagle Materials Inc | 2191399 | 310.37 | 109 | 51,693 |
0.73 | WESCO International Inc | 2416973 | 204.35 | 161 | 50,272 |
0.72 | Mueller Industries Inc | 2609717 | 93.45 | 351 | 50,120 |
0.71 | Woodward Inc | 2948089 | 175.23 | 184 | 49,266 |
0.71 | Acuity Brands Inc | 2818461 | 331.88 | 97 | 49,190 |
0.70 | Advanced Drainage Systems Inc | BP7RS59 | 130.97 | 241 | 48,229 |
0.69 | United States Lime & Minerals | 2724115 | 137.78 | 227 | 47,790 |
0.69 | Crane Co | BNYD4F8 | 177.00 | 178 | 48,141 |
0.64 | RBC Bearings Inc | B0GLYB5 | 315.37 | 92 | 44,333 |
0.61 | United States Steel Corp | 282477 | 40.03 | 695 | 42,510 |
0.60 | Carpenter Technology Corp | 2177504 | 176.70 | 155 | 41,850 |
0.60 | Sterling Infrastructure Inc | 2632876 | 191.50 | 143 | 41,844 |
0.56 | Louisiana-Pacific Corp | 2535243 | 112.78 | 224 | 38,601 |
0.56 | Primoris Services Corp | B1GC2 | 80.02 | 317 | 38,760 |
0.52 | Construction Partners Inc | BDT5M66 | 94.51 | 248 | 35,814 |
0.52 | SPX Technologies Inc | BQ1L7V3 | 164.56 | 143 | 35,957 |
0.51 | ATI Inc | 2526117 | 58.76 | 396 | 35,555 |
0.50 | DXP Enterprises Inc/TX | 2276627 | 69.95 | 322 | 34,417 |
0.50 | Alcoa Corp | BYNF418 | 40.95 | 552 | 34,540 |
0.49 | Granite Construction Inc | 2381189 | 97.23 | 230 | 34,171 |
0.49 | Commercial Metals Co | 221326 | 61.41 | 362 | 33,968 |
0.49 | Valmont Industries Inc | 2926825 | 345.23 | 64 | 33,761 |
0.46 | Badger Meter Inc | 2069128 | 225.02 | 92 | 31,632 |
0.46 | Zurn Elkay Water Solutions Cor | BMV1ZD3 | 39.33 | 535 | 32,152 |
0.43 | Herc Holdings Inc | BZBZ02 | 224.48 | 87 | 29,841 |
0.43 | Northwest Pipe Co | 2035925 | 53.96 | 362 | 29,847 |
0.43 | Century Aluminum Co | 2186254 | 21.19 | 920 | 29,788 |
0.42 | CSW Industrials Inc | BYQD1J6 | 418.07 | 46 | 29,385 |
0.41 | Cleveland-Cliffs Inc | BYVZ186 | 11.98 | 1,569 | 28,721 |
0.40 | Mueller Water Products Inc | B15RZR4 | 25.13 | 730 | 28,031 |
0.40 | Summit Materials Inc | BW9JPS4 | 48.99 | 373 | 27,922 |
0.38 | Dycom Industries Inc | 2289841 | 189.24 | 92 | 26,603 |
0.38 | Knife River Corp | BPLL4V5 | 96.51 | 178 | 26,249 |
0.35 | DNOW Inc | BMH0MV1 | 14.91 | 1,052 | 23,967 |
0.35 | Exponent Inc | 2330318 | 102.98 | 156 | 24,547 |
0.34 | Trinity Industries Inc | 2904627 | 38.28 | 403 | 23,572 |
0.34 | Arcosa Inc | BGPZ5W8 | 103.58 | 149 | 23,582 |
0.33 | Greenbrier Cos Inc/The | 238753 | 65.95 | 225 | 22,674 |
0.30 | MRC Global Inc | B7M66F1 | 13.55 | 1,000 | 20,704 |
0.29 | Amentum Holdings Inc | BMZLFJ5 | 31.24 | 425 | 20,287 |
0.28 | Gorman-Rupp Co/The | 2379281 | 41.67 | 310 | 19,738 |
0.28 | Minerals Technologies Inc | 2595612 | 80.83 | 156 | 19,267 |
0.27 | H&E Equipment Services Inc | B0WR848 | 59.67 | 202 | 18,418 |
0.26 | Haynes International Inc | B02WVH7 | 60.60 | 195 | 18,056 |
0.25 | Astec Industries Inc | 206037 | 37.94 | 299 | 17,334 |
0.25 | MDU Resources Group Inc | 2547323 | 18.01 | 632 | 17,392 |
0.25 | MYR Group Inc | B3CLS18 | 148.30 | 75 | 16,995 |
0.24 | Terex Corp | 2884224 | 53.23 | 207 | 16,836 |
0.24 | Atkore Inc | BDHF495 | 94.56 | 115 | 16,616 |
0.23 | Columbus McKinnon Corp/NY | 2211071 | 37.32 | 276 | 15,739 |
0.23 | Materion Corp | 2149622 | 119.04 | 87 | 15,825 |
0.22 | Crane NXT Co | BQ7W2W6 | 56.53 | 178 | 15,375 |
0.21 | Everus Construction Group Inc | BSVLTM2 | 61.03 | 158 | 14,734 |
0.21 | Gibraltar Industries Inc | 2369226 | 73.10 | 132 | 14,744 |
0.20 | Insteel Industries Inc | 2325875 | 29.34 | 304 | 13,629 |
0.18 | Metallus Inc | BNBPMX1 | 15.79 | 511 | 12,329 |
0.18 | Custom Truck One Source Inc | BL66YS4 | 4.99 | 1,627 | 12,405 |
0.18 | Wabash National Corp | 2932048 | 19.69 | 409 | 12,305 |
0.17 | Calix Inc | B3S4L67 | 32.50 | 235 | 11,670 |
0.17 | Ryerson Holding Corp | B3TPPZ6 | 25.04 | 310 | 11,861 |
0.12 | Titan Machinery Inc | B29H3T5 | 14.29 | 386 | 8,425 |
Sector | Weight (%) | |
---|---|---|
Industrials | 73.6 | |
Materials | 20.1 | |
Utilities | 3.2 | |
Information Technology | 2.1 | |
Consumer Discretionary | 0.8 | |
Other/Cash | 0.2 |
Country | Weight (%) | |
---|---|---|
United States | 94.9 | |
Ireland | 3.7 | |
Britain | 1.2 | |
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.