PAVE vs QUAL: Holdings Overlap
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
QUALiShares MSCI USA Quality Factor ETF
iShares · 121 holdings · $47.8B · as of 2026-04-30
Holdings snapshots are 31 days apart (PAVE: 2026-05-31, QUAL: 2026-04-30). 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 PAVE and QUAL?
Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100 positions; iShares MSCI USA Quality Factor ETF (QUAL, by iShares) holds 121. They have 6 holdings in common, and by portfolio weight the two funds are 1.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 6PAVE holds 100 · QUAL holds 121
- Weight in Shared Holdings
- PAVE 10%·QUAL 2%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 PAVE
94 of 100 positions (89.8% of the fund) are not held by QUAL. Showing the top 30 by weight.
Sector Breakdown
| Sector | PAVE | QUAL |
|---|---|---|
| Industrials | 75.1% | 9.4% |
| Information Technology | 1.1% | 34.4% |
| Materials | 20.3% | 1.9% |
| Financials | 0.0% | 11.6% |
| Communication Services | 0.0% | 11.0% |
| Other Sectors | 3.1% | 31.5% |
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 |
|---|---|---|---|---|---|---|---|
| PAVE | +4.0% | +23.0% | +29.9% | +22.7% | +18.1% | — | 0.73% |
| QUAL | +3.6% | +14.1% | +23.7% | +19.0% | +11.5% | +14.4% | 0.84% |
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 PAVE vs QUAL →
Shared Holdings(6)
The top 6 shared positions account for 100% of the overlap, led by TT, FAST and EME.
 TTTrane Technologies PLC COM USD1 | 3.19% | 0.83% | 0.83% |
|---|---|---|---|
 FASTFastenal Co. COM | 2.71% | 0.44% | 0.44% |
 EMEEmcor Group Inc COM | 2.01% | 0.35% | 0.35% |
 CSLCarlisle Companies Incorporated | 0.78% | 0.10% | 0.10% |
 GGGGraco Inc COM | 0.68% | 0.09% | 0.09% |
 RPMRPM International Inc. COM | 0.74% | 0.04% | 0.04% |
Frequently Asked Questions
How much do PAVE and QUAL overlap?
PAVE and QUAL overlap by 1.8% of portfolio weight. They share 6 holdings (PAVE holds 100 positions and QUAL holds 121), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PAVE and QUAL?
The two portfolios are 1.8% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of PAVE and QUAL?
The largest positions held by both funds are TT, FAST, EME, CSL and GGG. Together the top 6 shared positions account for 100% of the total overlap.
What does PAVE own that QUAL doesn't?
94 positions (89.8% of PAVE) are unique to PAVE, led by PWR, CSX and ETN. In the other direction, 115 positions (98.0% of QUAL) are unique to QUAL.