Data as of Oct 28, 2026.
GRID vs PAVE: Holdings Overlap & Returns
Over the year to Oct 28, 2026, GRID returned +7.9% to PAVE's +11.4%; 10% of their weight is in the same names.
askIQ about this page
askIQ about GRID and PAVE
Net assets: $11.4bn on Oct 27, 2026 for First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund, and $13.6bn on Oct 12, 2026 for Global X U.S. Infrastructure Development ETF.
41% of GRID's weight is in S&P 500 companies and 59% is outside the index. Holdings as of Oct 27, 2026.
62% of PAVE's weight is in S&P 500 companies and 38% is outside the index. Holdings as of May 31, 2026.
Pair scorecard
PAVE costs 0.09 points a year less; their one-year returns differ by 3.5 points; PAVE is 1.1 times larger.
Points (pts) are percentage points.
| Measure | GRID | PAVE |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.9% | +11.4% |
| Drawdown | ||
| Below its all-time high | 14.7%, high on May 11, 2026 | 10.9%, high on Jun 25, 2026 |
| Against its benchmark | ||
| What it tracks | Electrification and the grid | Infrastructure |
| Its benchmark, total return, 1 year | +13.3% | |
| Against its benchmark, 1 year | behind by 5.4 pts | |
| Cost and size | ||
| Expense ratio | 0.56% | 0.47% |
| Net assets, as of Oct 12, 2026 | $12.1bn | $13.6bn |
| Holdings | ||
| Holdings in common | 10% | |
Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method
Risk and return
Mar 17, 2017 to Oct 23, 2026 · 501 weekly returnsGRID returned more: +339.9% to +267.9%. GRID swung slightly less: 23.2% to 24.0%. GRID fell slightly less at its worst: −39.0% to −42.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | GRID | PAVE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +339.9% | +267.9% | GRID | Price change plus distributions, reinvested. |
| Annualized | +16.6% | +14.5% | GRID | Total return as a yearly rate. |
| Price return | +295.3% | +246.3% | GRID | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 23.2% | 24.0% | GRID (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.7% | 16.5% | GRID (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −39.0% | −42.2% | GRID (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.67 | 0.58 | GRID | Return above Treasury bills per unit of volatility. |
| Sortino | 0.99 | 0.84 | GRID | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.43 | 0.34 | GRID | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 501 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GRID and PAVE hold 10% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.
half
10% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GRID | PAVE | GRID | PAVE |
| 3 months | +1.3% | −3.0% | −4.2 pts vs IWV | not measured |
| 6 months | −7.5% | −3.1% | −16.3 pts vs IWV | not measured |
| 1 year | +7.9% | +11.4% | −5.4 pts vs IWV | not measured |
| 3 years | +104.9% | +92.8% | +12.1 pts vs IWV | not measured |
| Since launchNot the same days: GRID Nov 2009 · PAVE Mar 2017 | +576.0% | +284.2% | not measured | not measured |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
10% of the two portfolios are the same securities at the same weight.
No client brief for this pair: the two funds' holdings are dated 149 days apart.
Over the year to Oct 28, 2026 the fund returned +7.9% with distributions reinvested against +13.3% for its benchmark, the Russell 3000 Index, so a holder was behind by 5.4 pts.
By weight, 41% of GRID's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 57% of the fund across 122 positions, as published by its issuer for Oct 27, 2026. It sits 14.7% below its all-time high of May 11, 2026.
PAVE
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 Oct 28, 2026 the fund returned +11.4% with distributions reinvested. It sits 10.9% below its all-time high of Jun 25, 2026.
Questions people ask
- Do GRID and PAVE hold the same stocks?
- By their latest filings, 10% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, GRID against PAVE, data as of Oct 28, 2026. https://etfiq.com/compare/themes/grid-vs-pave
ETFIQ. (Oct 28, 2026). GRID against PAVE. Retrieved from https://etfiq.com/compare/themes/grid-vs-pave
[GRID against PAVE (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/grid-vs-pave)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.