Do PAVE and XME 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.

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

PAVE has 62% of its weight in S&P 500 names and XME has 21%, so XME differs more from the index.

Which is cheaper, PAVE or XME?

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

Data as of Oct 28, 2026.

Thematic ETFs

PAVE vs XME: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, PAVE returned +11.4% to XME's +3.4%; 10% of their weight is in the same names.

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Net assets: $13.6bn on Oct 12, 2026 for Global X U.S. Infrastructure Development ETF, and $3.8bn on Oct 27, 2026 for State Street SPDR S&P Metals & Mining ETF.

PAVE on its own →XME on its own →

At a glance

62.1%

PAVE in the S&P 500

21.4%

XME in the S&P 500

+11.4%

PAVE total return, 1 year

+3.4%

XME total return, 1 year

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.

XME · 1 year to Oct 28, 2026 79% of its weight is outside the S&P 500

21% of XME's weight is in S&P 500 companies and 79% is outside the index. Holdings as of Oct 27, 2026.

Pair scorecard

XME costs 0.12 points a year less; their one-year returns differ by 8.0 points; PAVE is 3.3 times larger.

Points (pts) are percentage points.

PAVE vs XME: Holdings Overlap & Returns
Measure	PAVE	XME
Return
Measure	PAVE	XME
Total return, 1 year	+11.4%	+3.4%
Drawdown
Measure	PAVE	XME
Below its all-time high	10.9%, high on Jun 25, 2026	23.6%, high on Jun 2, 2026
Against its benchmark
Measure	PAVE	XME
What it tracks	Infrastructure	Miners and metals
Against the S&P 500, 1 year		behind by 10.3 pts
Its benchmark, total return, 1 year		+13.7%
Against its benchmark, 1 year		behind by 10.3 pts
Cost and size
Measure	PAVE	XME
Expense ratio	0.47%	0.35%
Net assets, as of Oct 12, 2026	$13.6bn	$4.1bn
Holdings
Measure	PAVE	XME
Holdings in common	10%

Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method

What they share

10%

By the books each fund has filed, PAVE and XME hold 10% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.

50%

0 half 100%

half

10% in common

Positions both hold · largest shared weight first PAVE XME

NUCOR CORPORATION 3.10% 5.89%

STEEL DYNAMICS, INC. 2.06% 5.76%

ALCOA CORPORATION 1.09% 4.42%

RELIANCE, INC. 1.08% 6.15%

COMMERCIAL METALS COMPANY 0.46% 5.16%

CLEVELAND-CLIFFS INC. 0.42% 6.46%

MATERION CORPORATION 0.41% 4.57%

CENTURY ALUMINUM COMPANY 0.38% 2.18%

METALLUS INC. 0.27% 0.59%

RYERSON HOLDING CORPORATION 0.26% 1.16%

Only in one fund ↓

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%

ROCKWELL AUTOMATION, INC. 2.92%

NORFOLK SOUTHERN CORPORATION 2.90%

Only in XME

ROYAL GOLD INC 5.12%

NEWMONT CORP 4.91%

FREEPORT MCMORAN INC 4.86%

MP MATERIALS CORP 4.23%

HECLA MINING CO 3.94%

URANIUM ENERGY CORP 3.89%

COEUR MINING INC 3.80%

WARRIOR MET COAL INC 3.75%

Check overlap with more funds →

Window by window

Window by window: PAVE vs XME: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	PAVE	XME	PAVE	XME
3 months	−3.0%	+3.9%	not measured	−2.2 pts vs IVV
6 months	−3.1%	−11.5%	not measured	−20.6 pts vs IVV
1 year	+11.4%	+3.4%	not measured	−10.3 pts vs IVV
3 years	+92.8%	+108.2%	not measured	+12.8 pts vs IVV
Since launchNot the same days: PAVE Mar 2017 · XME Jun 2006	+284.2%	+189.8%	not measured	not measured

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Side by side

PAVE Global X U.S. Infrastructure Development ETF · Holds 100 stocks in infrastructure, 62% of its weight in S&P 500 companies XME State Street SPDR S&P Metals & Mining ETF · Holds 38 stocks in miners and metals, 21% of its weight in S&P 500 companies

Issuer Global X State Street

Theme Infrastructure Miners and metals

In the S&P 500 62.1% 21.4%

Active share vs the S&P 500 97.2% 99.6%

In the Nasdaq-100 6.2% 0.0%

Holdings 100 38

Top ten, share of the fund 32.3% 53.3%

Expense ratio 0.47% 0.35%

Fee for the differing part 0.48% 0.35%

Total return, 1 year +11.4% +3.4%

vs its benchmark not measured −10.3 pts vs IVV

Below its high −10.9% −23.6%

Net assets, PAVE as of Oct 12, 2026 and XME as of Oct 27, 2026 $13.6bn $3.8bn

As of Oct 28, 2026. Source: ETFIQ.

10% of the two portfolios are the same securities at the same weight.

Alert

About each fund

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.

XME

By weight, 21% of XME'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 53% of the fund across 38 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +3.4% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 10.3 pts. It sits 23.6% below its all-time high of Jun 2, 2026.

Questions people ask

Do PAVE and XME 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.
Which is more different from the S&P 500, PAVE or XME?: PAVE has 62% of its weight in S&P 500 names and XME has 21%, so XME differs more from the index.
Which is cheaper, PAVE or XME?: PAVE charges 0.47% a year and XME charges 0.35%, so XME is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAVE vs ARTY PAVE vs XT PAVE vs KWEB PAVE vs SIL XME vs IGF XME vs IFRA XME vs CIBR XME vs AIRR

Where to next

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

Sources and dates

PAVE filings on SEC EDGAR ↗

PAVE prospectus with the expense ratio (SEC) ↗

Global X page for PAVE ↗

XME filings on SEC EDGAR ↗

XME prospectus with the expense ratio (SEC) ↗

State Street website ↗

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

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