Data as of . Every figure is the themes desk's own, on published data.
PAVE vs SHLD
0% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, PAVE and SHLD hold 0% of their money in the same securities at the same weight.
| Only in PAVE | Only in SHLD |
|---|---|
| QUANTA SERVICES, INC. 4.18% | LOCKHEED MARTIN CORPORATION 8.45% |
| CSX Corporation 3.48% | RTX CORPORATION 7.78% |
| EATON CORPORATION PUBLIC LIMITED COMPANY 3.30% | GENERAL DYNAMICS CORPORATION 7.70% |
| HOWMET AEROSPACE INC. 3.27% | PALANTIR TECHNOLOGIES INC. 7.09% |
| TRANE TECHNOLOGIES PLC 3.19% | Rheinmetall Aktiengesellschaft 5.78% |
| UNION PACIFIC CORPORATION 3.12% | BAE SYSTEMS PLC 4.90% |
| NUCOR CORPORATION 3.10% | L3HARRIS TECHNOLOGIES, INC. 4.71% |
| ROCKWELL AUTOMATION, INC. 2.92% | HANWHA AEROSPACE CO., LTD. 4.41% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| PAVE | SHLD | PAVE | SHLD | PAVE | SHLD | |
| 3 months | −2.5% | +0.2% | −7.2 pts | −4.5 pts | −4.6 pts | −1.9 pts |
| 6 months | +7.1% | −18.2% | −8.0 pts | −33.4 pts | −13.0 pts | −38.4 pts |
| 1 year | +19.3% | +2.3% | −0.7 pts | −17.7 pts | −6.3 pts | −23.3 pts |
| 3 years | +77.6% | n/a | −0.4 pts | n/a | −15.9 pts | n/a |
| Since launch | +297.3% | +158.9% | +19.0 pts | +79.9 pts | −189.6 pts | +63.5 pts |
| PAVE Global X U.S. Infrastructure Development ETF | SHLD Global X Defense Tech ETF | |
|---|---|---|
| Issuer | Global X | Global X |
| Theme | Infrastructure | Defense |
| In the S&P 500 | 62.1% | 44.8% |
| Active share vs the S&P 500 | 97.2% | 98.7% |
| In the Nasdaq-100 | 6.2% | 7.1% |
| Holdings | 100 | 48 |
| Top ten, share of the fund | 32.3% | 59.5% |
| Expense ratio | 0.47% | 0.50% |
| Fee for the differing part | 0.48% | 0.51% |
| Total return, 1 year | +19.3% | +2.3% |
| vs the S&P 500 | −0.7 pts | −17.7 pts |
| vs the Nasdaq-100 | −6.3 pts | −23.3 pts |
| Below its high | −7.9% | −19.0% |
PAVE in plain words
By weight, 62% of PAVE's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 32% of the fund across 100 positions, as filed for May 31, 2026. Over the year to Sep 4, 2026 the fund returned +19.3% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 0.7 pts. It sits 7.9% below its all-time high of Jun 25, 2026.
SHLD in plain words
By weight, 45% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 60% of the fund across 48 positions, as filed for May 31, 2026. Over the year to Sep 4, 2026 the fund returned +2.3% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 17.7 pts. It sits 19.0% below its all-time high of Mar 9, 2026.
Questions people ask
- Do PAVE and SHLD hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, PAVE or SHLD?
- PAVE has 62% of its weight in S&P 500 names and SHLD has 45%, so SHLD differs more from the index.
- Which is cheaper, PAVE or SHLD?
- PAVE charges 0.47% a year and SHLD charges 0.50%, so PAVE is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, PAVE against SHLD, data as of Sep 4, 2026. https://etfiq.com/compare/themes/PAVE-SHLD.html Free to use with attribution; the underlying files are at Open data.