Data as of . Every figure is the themes desk's own, on published data.
PAVE vs XAR
6% 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 XAR hold 6% of their money in the same securities at the same weight.
| Holding | PAVE | XAR |
|---|---|---|
| HOWMET AEROSPACE INC. | 3.27% | 2.77% |
| ATI INC | 1.29% | 2.77% |
| CARPENTER TECHNOLOGY CORPORATION | 1.27% | 3.04% |
| WOODWARD, INC. | 1.14% | 2.98% |
| Only in PAVE | Only in XAR |
|---|---|
| QUANTA SERVICES, INC. 4.18% | VSE Corp 3.40% |
| CSX Corporation 3.48% | Axon Enterprise Inc 3.23% |
| EATON CORPORATION PUBLIC LIMITED COMPANY 3.30% | StandardAero Inc 3.11% |
| TRANE TECHNOLOGIES PLC 3.19% | FTAI Aviation Ltd 3.09% |
| UNION PACIFIC CORPORATION 3.12% | General Electric Co 3.02% |
| NUCOR CORPORATION 3.10% | HEICO Corp 2.86% |
| ROCKWELL AUTOMATION, INC. 2.92% | Moog Inc 2.86% |
| NORFOLK SOUTHERN CORPORATION 2.90% | TransDigm Group Inc 2.83% |
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 Jun 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| PAVE | XAR | PAVE | XAR | PAVE | XAR | |
| 3 months | −2.5% | −7.2% | −7.2 pts | −11.9 pts | −4.6 pts | −9.3 pts |
| 6 months | +7.1% | −9.4% | −8.0 pts | −24.5 pts | −13.0 pts | −29.5 pts |
| 1 year | +19.3% | +17.9% | −0.7 pts | −2.1 pts | −6.3 pts | −7.7 pts |
| 3 years | +77.6% | +113.8% | −0.4 pts | +35.9 pts | −15.9 pts | +20.3 pts |
| Since launch | +297.3% | +1074.6% | +19.0 pts | +314.2 pts | −189.6 pts | −342.9 pts |
| PAVE Global X U.S. Infrastructure Development ETF | XAR State Street(R) SPDR(R) S&P(R) Aerospace & Defense ETF | |
|---|---|---|
| Issuer | Global X | State Street |
| Theme | Infrastructure | Defense |
| In the S&P 500 | 62.1% | 32.4% |
| Active share vs the S&P 500 | 97.2% | 97.9% |
| In the Nasdaq-100 | 6.2% | 3.2% |
| Holdings | 100 | 48 |
| Top ten, share of the fund | 32.3% | 30.4% |
| Expense ratio | 0.47% | 0.35% |
| Fee for the differing part | 0.48% | 0.36% |
| Total return, 1 year | +19.3% | +17.9% |
| vs the S&P 500 | −0.7 pts | −2.1 pts |
| vs the Nasdaq-100 | −6.3 pts | −7.7 pts |
| Below its high | −7.9% | −14.8% |
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.
XAR in plain words
By weight, 32% of XAR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 30% of the fund across 48 positions, as filed for Jun 30, 2026. Over the year to Sep 4, 2026 the fund returned +17.9% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 2.1 pts. It sits 14.8% below its all-time high of Aug 14, 2026.
Questions people ask
- Do PAVE and XAR hold the same stocks?
- By their latest filings, 6% 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 XAR?
- PAVE has 62% of its weight in S&P 500 names and XAR has 32%, so XAR differs more from the index.
- Which is cheaper, PAVE or XAR?
- PAVE charges 0.47% a year and XAR charges 0.35%, so XAR 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 XAR, data as of Sep 4, 2026. https://etfiq.com/compare/themes/PAVE-XAR.html Free to use with attribution; the underlying files are at Open data.