GRID vs PAVE: Holdings Overlap
GRIDFirst Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund
First Trust · 120 holdings · $12.2B · 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 (GRID: 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 GRID and PAVE?
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID, by First Trust) holds 120 positions; Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100. They have 13 holdings in common, and by portfolio weight the two funds are 10.2% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 10.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 13GRID holds 120 · PAVE holds 100
- Weight in Shared Holdings
- GRID 17%·PAVE 17%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 GRID
107 of 120 positions (83.1% of the fund) are not held by PAVE. Showing the top 30 by weight.
Only in PAVE
87 of 100 positions (82.7% of the fund) are not held by GRID. Showing the top 30 by weight.
Sector Breakdown
| Sector | GRID | PAVE |
|---|---|---|
| Industrials | 53.2% | 75.1% |
| Utilities | 20.3% | 3.1% |
| Materials | 0.0% | 20.3% |
| Information Technology | 10.7% | 1.1% |
| Consumer Discretionary | 4.3% | 0.0% |
| Other Sectors | 0.0% | 0.0% |
| Unclassified | 11.2% | 0.3% |
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. “Unclassified” is weight we could not classify (11% of GRID, 0% of PAVE).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| GRID | +2.2% | +22.4% | +31.6% | +23.6% | +15.0% | +18.9% | 0.77% |
| 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 GRID vs PAVE →
Shared Holdings(13)
The top 10 shared positions account for 99% of the overlap, led by PWR, ETN and HUBB.
 PWRQuanta Services, Inc. COM | 4.24% | 4.18% | 4.18% |
|---|---|---|---|
 ETNEaton Corporation PLC COM USD0.01 | 8.28% | 3.30% | 3.30% |
 HUBBHubbell Incorporated COM | 2.87% | 1.36% | 1.36% |
 MYRGMYR Grp Inc COM | 0.46% | 0.51% | 0.46% |
 EMREmerson Electric Co. COM | 0.34% | 2.64% | 0.34% |
 ATKRAtkore Inc COMMON STOCK | 0.22% | 0.31% | 0.22% |
 MTZMastec, Inc. COM | 0.09% | 1.62% | 0.09% |
 TRMBTrimble Inc COM | 0.06% | 0.72% | 0.06% |
 PLPCPreformed Line Products Co. COM | 0.06% | 0.41% | 0.06% |
 WCCWesco International, Inc. COM | 0.06% | 0.95% | 0.06% |
 VMIValmont Industries, Inc. COM | 0.03% | 0.55% | 0.03% |
 PRIMPrimoris Services Corp. COM | 0.03% | 0.37% | 0.03% |
 ACAArcosa Inc COM | 0.02% | 0.34% | 0.02% |
Frequently Asked Questions
How much do GRID and PAVE overlap?
GRID and PAVE overlap by 10.2% of portfolio weight. They share 13 holdings (GRID holds 120 positions and PAVE holds 100), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GRID and PAVE?
The two portfolios are 10.2% 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 GRID and PAVE?
The largest positions held by both funds are PWR, ETN, HUBB, MYRG and EMR. Together the top 10 shared positions account for 99% of the total overlap.
What does GRID own that PAVE doesn't?
107 positions (83.1% of GRID) are unique to GRID, led by JCI, NG- and ABBN. In the other direction, 87 positions (82.7% of PAVE) are unique to PAVE.