Do KWEB and PAVE hold the same stocks?

By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, KWEB or PAVE?

KWEB has 0% of its weight in S&P 500 names and PAVE has 62%, so KWEB differs more from the index.

Which is cheaper, KWEB or PAVE?

KWEB charges 0.69% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

KWEB vs PAVE: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, KWEB returned −40.6% to PAVE's +11.4%; 0% of their weight is in the same names.

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Net assets: $4.3bn on Oct 28, 2026 for KraneShares CSI China Internet ETF, and $13.6bn on Oct 12, 2026 for Global X U.S. Infrastructure Development ETF.

KWEB on its own →PAVE on its own →

At a glance

0.0%

KWEB in the S&P 500

62.1%

PAVE in the S&P 500

−40.6%

KWEB total return, 1 year

+11.4%

PAVE total return, 1 year

KWEB · 1 year to Oct 28, 2026 100% of its weight is outside the S&P 500

0% of KWEB's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 28, 2026.

PAVE · 1 year to Oct 28, 2026 38% of its weight is outside the S&P 500

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 0.22 points a year less; their one-year returns differ by 52.0 points; PAVE is 3.0 times larger.

KWEB vs PAVE: Holdings Overlap & Returns
Measure	KWEB	PAVE
Return
Measure	KWEB	PAVE
Total return, 1 year	−40.6%	+11.4%
Drawdown
Measure	KWEB	PAVE
Below its all-time high	73.4%, high on Feb 17, 2021	10.9%, high on Jun 25, 2026
Benchmark
Measure	KWEB	PAVE
What it tracks	Internet and e-commerce	Infrastructure
Cost and size
Measure	KWEB	PAVE
Expense ratio	0.69%	0.47%
Net assets, as of Oct 12, 2026	$4.5bn	$13.6bn
Holdings
Measure	KWEB	PAVE
Holdings in common	0%

Holdings in common uses holdings dated May 31, 2026 and Oct 28, 2026. Method

What they share

By the books each fund has filed, KWEB and PAVE hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 28, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first KWEB PAVE

Only in one fund ↓

Only in KWEB

TENCENT HOLDINGS LTD 9.90%

ALIBABA GROUP HOLDING LTD 8.70%

PDD HOLDINGS INC 8.45%

MEITUAN-CLASS B 7.40%

NETEASE INC 6.54%

KE HOLDINGS INC-CL A 4.97%

LENOVO GROUP LTD 4.59%

JD.COM INC-CLASS A 4.16%

Only in PAVE

QUANTA SERVICES, INC. 4.18%

CSX Corporation 3.48%

EATON CORPORATION PUBLIC LIMITED COMPANY 3.30%

HOWMET AEROSPACE INC. 3.27%

TRANE TECHNOLOGIES PLC 3.19%

UNION PACIFIC CORPORATION 3.12%

NUCOR CORPORATION 3.10%

ROCKWELL AUTOMATION, INC. 2.92%

Check overlap with more funds →

Window by window

Window by window: KWEB vs PAVE: Holdings Overlap & Returns
	Total return
Window	KWEB	PAVE
3 months	−17.3%	−3.0%
6 months	−17.9%	−3.1%
1 year	−40.6%	+11.4%
3 years	−3.2%	+92.8%
Since launchNot the same days: KWEB Aug 2013 · PAVE Mar 2017	+12.7%	+284.2%

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Side by side

KWEB KraneShares CSI China Internet ETF · Holds 45 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies PAVE Global X U.S. Infrastructure Development ETF · Holds 100 stocks in infrastructure, 62% of its weight in S&P 500 companies

Issuer KraneShares Global X

Theme Internet and e-commerce Infrastructure

In the S&P 500 0.0% 62.1%

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

In the Nasdaq-100 8.4% 6.2%

Holdings 45 100

Top ten, share of the fund 61.5% 32.3%

Expense ratio 0.69% 0.47%

Fee for the differing part 0.69% 0.48%

Total return, 1 year −40.6% +11.4%

vs its benchmark not measured not measured

Below its high −73.4% −10.9%

Net assets, KWEB as of Oct 28, 2026 and PAVE as of Oct 12, 2026 $4.3bn $13.6bn

As of Oct 28, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Alert

About each fund

KWEB

By weight, 0% of KWEB'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 62% of the fund across 45 positions, as published by its issuer for Oct 28, 2026. Over the year to Oct 28, 2026 the fund returned −40.6% with distributions reinvested. It sits 73.4% below its all-time high of Feb 17, 2021.

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 KWEB and PAVE hold the same stocks?: By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, KWEB or PAVE?: KWEB has 0% of its weight in S&P 500 names and PAVE has 62%, so KWEB differs more from the index.
Which is cheaper, KWEB or PAVE?: KWEB charges 0.69% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.

Other comparisons

KWEB vs IGF KWEB vs IFRA KWEB vs NLR KWEB vs AIRR PAVE vs FDN PAVE vs ARTY PAVE vs BOTZ PAVE vs ARKK

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →KWEB on its own →PAVE on its own →KWEB dividend history →KWEB holdings →PAVE dividend history →PAVE holdings →Method →Standards and sources →

Sources and dates

KWEB filings on SEC EDGAR ↗

KWEB prospectus with the expense ratio (SEC) ↗

KraneShares page for KWEB ↗

PAVE filings on SEC EDGAR ↗

PAVE prospectus with the expense ratio (SEC) ↗

Global X page for PAVE ↗

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, KWEB against PAVE, data as of Oct 28, 2026. https://etfiq.com/compare/themes/kweb-vs-pave

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.