Do EFRA and PAVE hold the same stocks?

By their latest filings, 2% 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, EFRA or PAVE?

EFRA has 26% of its weight in S&P 500 names and PAVE has 64%, so EFRA differs more from the index.

Which is cheaper, EFRA or PAVE?

EFRA charges 0.47% a year and PAVE charges 0.47%, so EFRA is cheaper. Fees come from each fund's prospectus.

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EFRA vs PAVE: which is really different?

EFRA and PAVE hold 2% of their weight in the same names, and PAVE returned +11.2% over the year. iShares Environmental Infrastructure and Industrials ETF and Global X U.S. Infrastructure Development ETF.

26.4%

EFRA in the S&P 500

63.7%

PAVE in the S&P 500

+3.8%

EFRA total return, 1 year

+11.2%

PAVE total return, 1 year

EFRA · 1 year to Sep 30, 202674% of its weight is outside the S&P 500

26% of EFRA's weight is in S&P 500 companies and 74% is outside the index

PAVE · 1 year to Sep 30, 202636% of its weight is outside the S&P 500

64% of PAVE's weight is in S&P 500 companies and 36% is outside the index

ETFIQ Off-Index Score · EFRA scores higherHow much of it is not the index it is sold as an alternative to?

EFRA 78.3

PAVE 41.3

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, EFRA and PAVE hold 2% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 29, 2026 and Sep 30, 2026.

50%

half

2% in common

Positions both hold, largest shared weight first

Holding EFRA PAVE

ADVANCED DRAINAGE SYSTEMS INC 2.63% 0.60%

PENTAIR 2.42% 0.53%

TETRA TECH 2.46% 0.53%

BADGER METER 1.05% 0.33%

MUELLER WATER PRODUCTS SERIES A 0.94% 0.28%

Only in EFRA

VERALTO CORP 6.24%

WESTINGHOUSE AIR BRAKE TECHNOLOGIE 6.24%

SMURFIT WESTROCK PLC 6.23%

VEOLIA ENVIRON. SA 5.84%

AMERICAN WATER WORKS 5.73%

XYLEM INC 5.73%

CLEAN HARBORS INC 4.52%

UNITED UTILITIES GROUP PLC 3.96%

Only in PAVE

DEERE & CO 3.62%

FASTENAL CO 3.53%

EMERSON ELECTRIC CO 3.52%

EATON CORP PLC 3.40%

QUANTA SERVICES INC 3.23%

NUCOR CORP 3.19%

PARKER HANNIFIN CORP 3.19%

ROCKWELL AUTOMATION INC 3.11%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

2% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	EFRA	PAVE	EFRA	PAVE	EFRA	PAVE
3 months	−3.9%	−9.0%	−6.4 pts	−11.5 pts	−6.0 pts	−11.1 pts
6 months	−0.9%	+1.8%	−17.8 pts	−15.2 pts	−27.7 pts	−25.1 pts
1 year	+3.8%	+11.2%	−11.9 pts	−4.5 pts	−20.0 pts	−12.6 pts
3 years	+44.6%	+76.5%	−40.3 pts	−8.5 pts	−65.3 pts	−33.5 pts
Since launch EFRA Nov 2022 · PAVE Mar 2017	+57.3%	+278.2%	−59.2 pts	+2.6 pts	−133.5 pts	−226.4 pts

EFRA and PAVE over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

EFRA

iShares Environmental Infrastructure and Industrials ETF · Holds 100 stocks in infrastructure, 26% of its weight in S&P 500 companies

PAVE

Global X U.S. Infrastructure Development ETF · Holds 102 stocks in infrastructure, 64% of its weight in S&P 500 companies

Issuer iShares Global X

Theme Infrastructure Infrastructure

In the S&P 500 26.4% 63.7%

Active share vs the S&P 500 99.8% 97.2%

In the Nasdaq-100 0.0% 6.4%

Holdings 100 102

Top ten, share of the fund 51.1% 32.8%

Expense ratio 0.47% 0.47%

Fee for the differing part 0.47% 0.48%

Total return, 1 year +3.8% +11.2%

vs the S&P 500 −11.9 pts −4.5 pts

vs the Nasdaq-100 −20.0 pts −12.6 pts

Below its high −7.9% −12.3%

Net assets $5m $13.4bn

EFRA and PAVE on the same fields, as of Sep 30, 2026. Source: ETFIQ.

EFRA in plain words

By weight, 26% of EFRA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 51% of the fund across 100 positions, as published by its issuer for Sep 29, 2026. Over the year to Sep 30, 2026 the fund returned +3.8% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 11.9 pts. It sits 7.9% below its all-time high of Feb 27, 2026.

PAVE in plain words

By weight, 64% 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 33% of the fund across 102 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +11.2% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 4.5 pts. It sits 12.3% below its all-time high of Jun 25, 2026.

Questions people ask

Do EFRA and PAVE hold the same stocks?: By their latest filings, 2% 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, EFRA or PAVE?: EFRA has 26% of its weight in S&P 500 names and PAVE has 64%, so EFRA differs more from the index.
Which is cheaper, EFRA or PAVE?: EFRA charges 0.47% a year and PAVE charges 0.47%, so EFRA is cheaper. Fees come from each fund's prospectus.

Other comparisons

EFRA vs IPAV EFRA vs IFRA EFRA vs RBLD EFRA vs UPGR PAVE vs GDX PAVE vs GDXJ PAVE vs IDEF PAVE vs ITA

EFRA on its own →PAVE on its own →How every figure is computed →Standards and sources →

Where these figures came from

EFRA filings on SEC EDGAR ↗EFRA prospectus with the expense ratio (SEC) ↗iShares page for EFRA ↗PAVE filings on SEC EDGAR ↗PAVE prospectus with the expense ratio (SEC) ↗Global X page for PAVE ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, EFRA against PAVE, data as of Sep 30, 2026. https://etfiq.com/compare/themes/efra-vs-pave

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.