Do IPAV and PAVE 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, IPAV or PAVE?

IPAV has 0% of its weight in S&P 500 names and PAVE has 64%, so IPAV differs more from the index.

Which is cheaper, IPAV or PAVE?

IPAV charges 0.55% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.

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IPAV vs PAVE: which is really different?

IPAV and PAVE hold 0% of their weight in the same names, and PAVE returned +11.2% over the year. Global X Infrastructure Development ex-U.S. ETF and Global X U.S. Infrastructure Development ETF.

0.0%

IPAV in the S&P 500

63.7%

PAVE in the S&P 500

+10.0%

IPAV total return, 1 year

+11.2%

PAVE total return, 1 year

IPAV · 1 year to Sep 30, 2026100% of its weight is outside the S&P 500

0% of IPAV's weight is in S&P 500 companies and 100% 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 · IPAV scores higherHow much of it is not the index it is sold as an alternative to?

IPAV 92

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, IPAV and PAVE hold 0% 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 30, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding IPAV PAVE

CASH 0.09% 0.03%

OTHER PAYABLE & RECEIVABLES 0.28% 0.01%

Only in IPAV

FUJIKURA LTD 3.57%

CANADIAN NATL RAILWAY CO 3.43%

ARCELORMITTAL 3.36%

CANADIAN PACIFIC KANSAS CITY 3.25%

LARSEN & TOUBRO LTD 3.14%

NIPPON STEEL CORP 3.07%

VINCI SA 2.83%

SHIN-ETSU CHEMICAL CO LTD 2.81%

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.

0% 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	IPAV	PAVE	IPAV	PAVE	IPAV	PAVE
3 months	−3.4%	−9.0%	−5.9 pts	−11.5 pts	−5.5 pts	−11.1 pts
6 months	+0.1%	+1.8%	−16.9 pts	−15.2 pts	−26.8 pts	−25.1 pts
1 year	+10.0%	+11.2%	−5.7 pts	−4.5 pts	−13.8 pts	−12.6 pts
3 years	not published	+76.5%	not published	−8.5 pts	not published	−33.5 pts
Since launch IPAV Aug 2024 · PAVE Mar 2017	+26.1%	+278.2%	−14.1 pts	+2.6 pts	−32.7 pts	−226.4 pts

IPAV 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

IPAV

Global X Infrastructure Development ex-U.S. ETF · Holds 109 stocks in infrastructure, 0% 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 Global X Global X

Theme Infrastructure Infrastructure

In the S&P 500 0.0% 63.7%

Active share vs the S&P 500 100.0% 97.2%

In the Nasdaq-100 0.0% 6.4%

Holdings 109 102

Top ten, share of the fund 30.9% 32.8%

Expense ratio 0.55% 0.47%

Fee for the differing part 0.55% 0.48%

Total return, 1 year +10.0% +11.2%

vs the S&P 500 −5.7 pts −4.5 pts

vs the Nasdaq-100 −13.8 pts −12.6 pts

Below its high −13.0% −12.3%

Net assets $5m $13.4bn

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

IPAV in plain words

By weight, 0% of IPAV'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 31% of the fund across 109 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +10.0% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 5.7 pts. It sits 13.0% below its all-time high of May 6, 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 IPAV and PAVE 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, IPAV or PAVE?: IPAV has 0% of its weight in S&P 500 names and PAVE has 64%, so IPAV differs more from the index.
Which is cheaper, IPAV or PAVE?: IPAV charges 0.55% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.

Other comparisons

IPAV vs BLDX IPAV vs UPGR IPAV vs EFRA IPAV vs RBLD PAVE vs XAR PAVE vs XME PAVE vs AIQ PAVE vs AIRR

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

Where these figures came from

IPAV and PAVE filings on SEC EDGAR ↗IPAV and PAVE prospectus with the expense ratio (SEC) ↗Global X page for IPAV ↗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, IPAV against PAVE, data as of Sep 30, 2026. https://etfiq.com/compare/themes/ipav-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.