AIRR vs PAVE: Holdings Overlap
AIRRFirst Trust RBA American Industrial Renaissance ETF
First Trust · 52 holdings · $10.7B · as of 2026-03-31
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
Holdings snapshots are 61 days apart (AIRR: 2026-03-31, PAVE: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are AIRR and PAVE?
First Trust RBA American Industrial Renaissance ETF (AIRR, by First Trust) holds 52 positions; Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100. They have 21 holdings in common, and by portfolio weight the two funds are 12.8% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 12.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 21AIRR holds 52 · PAVE holds 100
- Weight in Shared Holdings
- AIRR 43%·PAVE 13%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in AIRR
31 of 52 positions (56.5% of the fund) are not held by PAVE. Showing the top 30 by weight.
Only in PAVE
79 of 100 positions (87.1% of the fund) are not held by AIRR. Showing the top 30 by weight.
Sector Breakdown
| Sector | AIRR | PAVE |
|---|---|---|
| Industrials | 91.9% | 75.1% |
| Materials | 0.0% | 20.3% |
| Financials | 8.0% | 0.0% |
| Utilities | 0.0% | 3.1% |
| Information Technology | 0.0% | 1.1% |
| Other Sectors | 0.0% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| AIRR | +0.6% | +25.7% | +39.9% | +32.0% | +24.5% | +20.5% | 0.09% |
| PAVE | +4.0% | +23.0% | +29.9% | +22.7% | +18.1% | — | 0.73% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in AIRR vs PAVE →
Shared Holdings(21)
The top 10 shared positions account for 74% of the overlap, led by EME, MTZ and STRL.
 EMEEmcor Group Inc COM | 3.54% | 2.01% | 2.01% |
|---|---|---|---|
 MTZMastec, Inc. COM | 4.65% | 1.62% | 1.62% |
 STRLSterling Infrastructure Inc COM | 3.96% | 1.43% | 1.43% |
 RBCRBC Bearings Incorporated | 2.32% | 0.98% | 0.98% |
 DYDycom Industries, Inc. COM | 3.07% | 0.80% | 0.80% |
 WMSAdvanced Drainage System Inc COM | 1.53% | 0.59% | 0.59% |
 SPXCSPX Technologies, Inc. COM | 3.13% | 0.58% | 0.58% |
 POWLPowell Industries Inc. COM | 1.83% | 0.56% | 0.56% |
 AGXArgan Inc COM | 4.89% | 0.50% | 0.50% |
 ECGEverus Construction Group Inc. COM | 1.56% | 0.45% | 0.45% |
 ZWSZurn Elkay Water Solutions Corporation COMMON STOCK | 0.90% | 0.43% | 0.43% |
 PRIMPrimoris Services Corp. COM | 3.34% | 0.37% | 0.37% |
 ACAArcosa Inc COM | 0.56% | 0.34% | 0.34% |
 GVAGranite Construction Inc COM | 1.86% | 0.32% | 0.32% |
 ATKRAtkore Inc COMMON STOCK | 0.59% | 0.31% | 0.31% |
 ROADConstruction Partners, Inc., Class A | 1.27% | 0.30% | 0.30% |
 MWAMueller Water Products, Inc. COM SER A | 0.91% | 0.26% | 0.26% |
 TPCTutor Perini Corporation COM | 0.81% | 0.26% | 0.26% |
 CSWCSW Industrials Inc. COM | 1.06% | 0.25% | 0.25% |
 DNOWDNOW Inc. COM | 0.55% | 0.24% | 0.24% |
 HRIHerc Holdings Inc COM | 1.01% | 0.24% | 0.24% |
Frequently Asked Questions
How much do AIRR and PAVE overlap?
AIRR and PAVE overlap by 12.8% of portfolio weight. They share 21 holdings (AIRR holds 52 positions and PAVE holds 100), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AIRR and PAVE?
The two portfolios are 12.8% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of AIRR and PAVE?
The largest positions held by both funds are EME, MTZ, STRL, RBC and DY. Together the top 10 shared positions account for 74% of the total overlap.
What does AIRR own that PAVE doesn't?
31 positions (56.5% of AIRR) are unique to AIRR, led by FIX, SAIA and BWXT. In the other direction, 79 positions (87.1% of PAVE) are unique to PAVE.