PAVE vs SPY
Comparison between GLOBAL X U.S. INFRASTRUCTURE DEVELOPMENT ETF (PAVE, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformancePAVE has outperformed SPY, delivering a return of +18.7% compared to +13.2%
PAVE vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PAVE
$14B
Winner
SPY
$784B
Expense Ratio
PAVE
0.47%
Winner
SPY
0.09%
Max Drawdown
Winner
PAVE
44.08%
SPY
56.47%
Sharpe Ratio
Winner
PAVE
1.59
SPY
1.54
5Y Beta
PAVE
1.07
Winner
SPY
1.00
P/E Ratio
PAVE
37.58
Winner
SPY
27.62
Forward P/E
PAVE
24.06
Winner
SPY
21.11
5Y Dividends CAGR
Winner
PAVE
31.45%
SPY
6.00%
5Y EPS CAGR
PAVE
16.97%
Winner
SPY
25.30%
Debt to Equity
PAVE
40.41%
Winner
SPY
31.11%
P/S Ratio
Winner
PAVE
2.55
SPY
3.49
P/B Ratio
Winner
PAVE
4.48
SPY
5.30
PAVE vs SPY - Holdings Comparison
PAVE and SPY have 28 common holdings. Overlap is 2.75%
PAVE's top 25 holdings weight is 63.73%. SPY's top 25 holdings weight is 51.24%.
| Rank | PAVE | SPY |
|---|---|---|
| #1 | QUANTA SERVICES INC (PWR) - 4.08% | NVIDIA CORP (NVDA) - 7.81% |
| #2 | HOWMET AEROSPACE INC (HWM) - 3.48% | APPLE INC (AAPL) - 6.81% |
| #3 | CSX CORP (CSX) - 3.41% | MICROSOFT CORP (MSFT) - 4.53% |
| #4 | EATON CORP PLC (ETN) - 3.28% | AMAZON.COM INC (AMZN) - 3.72% |
| #5 | TRANE TECHNOLOGIES PLC CLASS A (TT) - 3.24% | ALPHABET INC CLASS A (GOOGL) - 3.39% |
| #6 | NUCOR CORP (NUE) - 3.04% | BROADCOM INC (AVGO) - 2.77% |
| #7 | DEERE & CO (DE) - 3.01% | ALPHABET INC CLASS C (GOOG) - 2.72% |
| #8 | UNION PACIFIC CORP (UNP) - 2.98% | META PLATFORMS INC CLASS A (META) - 2.03% |
| #9 | UNITED RENTALS INC (URI) - 2.93% | MICRON TECHNOLOGY INC (MU) - 1.78% |
| #10 | ROCKWELL AUTOMATION INC (ROK) - 2.88% | TESLA INC (TSLA) - 1.76% |
| #11 | SEMPRA (SRE) - 2.81% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% |
| #12 | NORFOLK SOUTHERN CORP (NSC) - 2.78% | JPMORGAN CHASE & CO (JPM) - 1.38% |
| #13 | PARKER HANNIFIN CORP (PH) - 2.69% | ELI LILLY AND CO (LLY) - 1.38% |
| #14 | FASTENAL CO (FAST) - 2.68% | ADVANCED MICRO DEVICES INC (AMD) - 1.28% |
| #15 | EMERSON ELECTRIC CO (EMR) - 2.65% | EXXON MOBIL CORP (XOM) - 0.92% |
| #16 | CRH PLC (CRH) - 2.35% | JOHNSON & JOHNSON (JNJ) - 0.88% |
| #17 | STEEL DYNAMICS INC (STLD) - 2.08% | VISA INC CLASS A (V) - 0.87% |
| #18 | VULCAN MATERIALS CO (VMC) - 2.05% | INTEL CORP (INTC) - 0.85% |
| #19 | EMCOR GROUP INC (EME) - 1.95% | WALMART INC (WMT) - 0.82% |
| #20 | MARTIN MARIETTA MATERIALS INC (MLM) - 1.88% | CISCO SYSTEMS INC (CSCO) - 0.73% |
| #21 | AMRIZE LTD REGISTERED SHARE (AMRZ) - 1.58% | LAM RESEARCH CORP (LRCX) - 0.71% |
| #22 | MASTEC INC (MTZ) - 1.56% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #23 | CARPENTER TECHNOLOGY CORP (CRS) - 1.51% | CATERPILLAR INC (CAT) - 0.68% |
| #24 | HUBBELL INC (HUBB) - 1.42% | COSTCO WHOLESALE CORP (COST) - 0.68% |
| #25 | ATI INC (ATI) - 1.41% | MASTERCARD INC CLASS A (MA) - 0.63% |
| Total Holdings | 101 | 505 |
PAVE vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
PAVE
+5.22%
SPY
-1.37%
3M
Winner
PAVE
+15.16%
SPY
+12.22%
6M
Winner
PAVE
+18.42%
SPY
+7.20%
1Y
Winner
PAVE
+37.00%
SPY
+23.58%
5Y(CAGR)
Winner
PAVE
+18.70%
SPY
+13.19%
10Y(CAGR)
Winner
PAVE
+16.57%
SPY
+15.12%
Max(CAGR)
Winner
PAVE
+16.57%
SPY
+8.44%
PAVE vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | PAVE | SPY |
|---|---|---|
| 2026 | +18.34% | +7.95% |
| 2025 | +19.84% | +18.00% |
| 2024 | +19.14% | +25.59% |
| 2023 | +30.96% | +26.72% |
| 2022 | -6.23% | -18.64% |
| 2021 | +38.38% | +30.52% |
| 2020 | +19.91% | +17.28% |
| 2019 | +32.56% | +31.09% |
| 2018 | -20.25% | -5.24% |
| 2017 | +14.10% | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
PAVE vs SPY Drawdown Comparison
The maximum drawdown for PAVE was -44.08%, occurring on Mar 23, 2020. Recovery took 182 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current PAVE drawdown is -2.41%. The current SPY drawdown is -3.18%.
| Rank | PAVE | SPY |
|---|---|---|
| #1 | -44.08% Jan 17, 2020 - Oct 7, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -27.83% Jan 26, 2018 - Nov 26, 2019 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -26.23% Nov 25, 2024 - Jul 23, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -22.61% Jan 4, 2022 - Jan 31, 2023 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -13.34% Sep 1, 2023 - Dec 13, 2023 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -11.91% Feb 24, 2026 - Apr 23, 2026 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -11.65% Mar 3, 2023 - Jun 15, 2023 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -10.11% Jan 12, 2021 - Feb 24, 2021 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -9.09% May 7, 2021 - Aug 11, 2021 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -8.63% Jul 31, 2024 - Sep 19, 2024 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -8.51% Aug 12, 2021 - Oct 25, 2021 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -8.39% Mar 28, 2024 - Jul 16, 2024 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -7.85% May 6, 2026 - Jun 16, 2026 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -7.53% Mar 15, 2017 - Sep 19, 2017 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -7.45% Nov 23, 2021 - Jan 4, 2022 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between PAVE and SPY is 0.99 which considered as a very strong positive correlation - the stocks move almost identically together.
0.99
-101
Dividend Comparison (1999 - 2026)
PAVE vs SPY dividend yield comparison.
| Year | PAVE | SPY |
|---|---|---|
| 2026 | 0.00% | 0.50% |
| 2025 | 0.92% | 1.07% |
| 2024 | 0.54% | 1.21% |
| 2023 | 0.68% | 1.40% |
| 2022 | 0.84% | 1.65% |
| 2021 | 0.48% | 1.20% |
| 2020 | 0.44% | 1.52% |
| 2019 | 0.67% | 1.75% |
| 2018 | 0.78% | 2.04% |
| 2017 | 0.30% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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