Do PAVE and XBI 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, PAVE or XBI?

PAVE has 64% of its weight in S&P 500 names and XBI has 13%, so XBI differs more from the index.

Which is cheaper, PAVE or XBI?

PAVE charges 0.47% a year and XBI charges 0.35%, so XBI is cheaper. Fees come from each fund's prospectus.

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PAVE vs XBI: which is really different?

PAVE and XBI hold 0% of their weight in the same names, and XBI returned +45.0% over the year. Global X U.S. Infrastructure Development ETF and State Street(R) SPDR(R) S&P(R) Biotech ETF.

XBI costs 0.12 points a year less; their one-year returns differ by 31.8 points; PAVE is 1.4 times larger.

	PAVE	XBI
Expense ratio	0.47%	0.35%
Net assets, as of Oct 8, 2026	$13.6bn	$9.9bn
Total return, 1 year	+13.2%	+45.0%
What it tracks	Infrastructure	Biotech
Holdings in common	0%
S&P 500, total return, 1 year	+17.3%
Against the S&P 500, 1 year	behind by 4.1 pts	ahead by 27.7 pts
Below its all-time high	10.8%, high on Jun 25, 2026	11.1%, high on Feb 8, 2021

Holdings in common uses holdings dated Oct 8, 2026.

63.9%

PAVE in the S&P 500

12.7%

XBI in the S&P 500

+13.2%

PAVE total return, 1 year

+45.0%

XBI total return, 1 year

PAVE · 1 year to Oct 9, 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. Holdings as of Oct 8, 2026.

XBI · 1 year to Oct 9, 202687% of its weight is outside the S&P 500

13% of XBI's weight is in S&P 500 companies and 87% is outside the index. Holdings as of Oct 8, 2026.

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

PAVE 40.2

XBI 55.2

0.1, the lowest in this set92.3, the highest

A percentile among the 391 thematic ETFs with a holdings filing. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, PAVE and XBI 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 Oct 8, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding PAVE XBI

Only in PAVE

EMERSON ELECTRIC CO 3.56%

FASTENAL CO 3.55%

DEERE & CO 3.47%

QUANTA SERVICES INC 3.40%

EATON CORP PLC 3.31%

NUCOR CORP 3.31%

TRANE TECHNOLOGIES PLC 3.18%

PARKER HANNIFIN CORP 3.11%

Only in XBI

MODERNA INC 2.20%

TWIST BIOSCIENCE CORP 1.84%

NATERA INC 1.79%

ABBVIE INC 1.65%

UNITED THERAPEUTICS CORP 1.59%

AMGEN INC 1.58%

BIOGEN INC 1.57%

HALOZYME THERAPEUTICS INC 1.55%

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	PAVE	XBI	PAVE	XBI	PAVE	XBI
3 months	−5.7%	−3.3%	−9.1 pts	−6.7 pts	−9.4 pts	−7.0 pts
6 months	−2.0%	+18.9%	−17.2 pts	+3.8 pts	−25.2 pts	−4.3 pts
1 year	+13.2%	+45.0%	−4.1 pts	+27.7 pts	−10.4 pts	+21.4 pts
3 years	+78.0%	+114.6%	−7.8 pts	+28.8 pts	−29.3 pts	+7.3 pts
Since launch PAVE Mar 2017 · XBI Feb 2006	+285.0%	+890.7%	+1.6 pts	+92.2 pts	−228.9 pts	−1,164.7 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

PAVE

Global X U.S. Infrastructure Development ETF · Holds 100 stocks in infrastructure, 64% of its weight in S&P 500 companies

XBI

State Street(R) SPDR(R) S&P(R) Biotech ETF · Holds 165 stocks in biotech, 13% of its weight in S&P 500 companies

Issuer Global X State Street

Theme Infrastructure Biotech

In the S&P 500 63.9% 12.7%

Active share vs the S&P 500 97.2% 98.4%

In the Nasdaq-100 6.5% 8.5%

Holdings 100 165

Top ten, share of the fund 32.9% 16.9%

Expense ratio 0.47% 0.35%

Fee for the differing part 0.48% 0.36%

Total return, 1 year +13.2% +45.0%

vs the S&P 500 −4.1 pts +27.7 pts

vs the Nasdaq-100 −10.4 pts +21.4 pts

Below its high −10.8% −11.1%

Net assets, as of Oct 8, 2026 $13.6bn $9.9bn

As of Oct 9, 2026. Source: ETFIQ.

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 100 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +13.2% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 4.1 pts. It sits 10.8% below its all-time high of Jun 25, 2026.

XBI in plain words

By weight, 13% of XBI'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 17% of the fund across 165 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +45.0% with distributions reinvested against +17.3% for the S&P 500, so a holder was ahead by 27.7 pts. It sits 11.1% below its all-time high of Feb 8, 2021.

Questions people ask

Do PAVE and XBI 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, PAVE or XBI?: PAVE has 64% of its weight in S&P 500 names and XBI has 13%, so XBI differs more from the index.
Which is cheaper, PAVE or XBI?: PAVE charges 0.47% a year and XBI charges 0.35%, so XBI is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAVE vs IBB PAVE vs AIRR PAVE vs GDXJ PAVE vs URA XBI vs IGF XBI vs IFRA XBI vs CIBR XBI vs DRAM

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

Where these figures came from

PAVE filings on SEC EDGAR ↗PAVE prospectus with the expense ratio (SEC) ↗Global X page for PAVE ↗XBI filings on SEC EDGAR ↗XBI prospectus with the expense ratio (SEC) ↗State Street website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

It is a position in a set, not a rating, and neither end of it is a recommendation.

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

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this page

ETFIQ, PAVE against XBI, data as of Oct 9, 2026. https://etfiq.com/compare/themes/pave-vs-xbi

Open data

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