PAVE vs SPHQ: Holdings Overlap
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
SPHQInvesco S&P 500 Quality ETF
Invesco · 99 holdings · $20.0B · as of 2026-04-30
Holdings snapshots are 31 days apart (PAVE: 2026-05-31, SPHQ: 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 SPHQ?
Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100 positions; Invesco S&P 500 Quality ETF (SPHQ, by Invesco) holds 99. They have 9 holdings in common, and by portfolio weight the two funds are 6.1% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 6.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 9PAVE holds 100 · SPHQ holds 99
- Weight in Shared Holdings
- PAVE 19%·SPHQ 6%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
91 of 100 positions (80.5% of the fund) are not held by SPHQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | PAVE | SPHQ |
|---|---|---|
| Industrials | 75.1% | 24.5% |
| Information Technology | 1.1% | 27.6% |
| Materials | 20.3% | 2.2% |
| Consumer Staples | 0.0% | 15.3% |
| Financials | 0.0% | 13.4% |
| Other Sectors | 3.1% | 16.8% |
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% |
| SPHQ | -0.8% | +15.3% | +21.9% | +19.9% | +12.7% | +14.6% | 1.09% |
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 SPHQ →
Shared Holdings(9)
The top 9 shared positions account for 100% of the overlap, led by ETN, TT and PH.
 ETNEaton Corporation PLC COM USD0.01 | 3.30% | 1.64% | 1.64% |
|---|---|---|---|
 TTTrane Technologies PLC COM USD1 | 3.19% | 1.29% | 1.29% |
 PHParker-Hannifin Corp. COM | 2.48% | 1.08% | 1.08% |
 FASTFastenal Co. COM | 2.71% | 0.53% | 0.53% |
 EMEEmcor Group Inc COM | 2.01% | 0.47% | 0.47% |
 ROKRockwell Automation, Inc. COM | 2.92% | 0.46% | 0.46% |
 HUBBHubbell Incorporated COM | 1.36% | 0.28% | 0.28% |
 JJacobs Solutions Inc. COM | 0.76% | 0.19% | 0.19% |
 TRMBTrimble Inc COM | 0.72% | 0.18% | 0.18% |
Frequently Asked Questions
How much do PAVE and SPHQ overlap?
PAVE and SPHQ overlap by 6.1% of portfolio weight. They share 9 holdings (PAVE holds 100 positions and SPHQ holds 99), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PAVE and SPHQ?
The two portfolios are 6.1% 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 PAVE and SPHQ?
The largest positions held by both funds are ETN, TT, PH, FAST and EME. Together the top 9 shared positions account for 100% of the total overlap.
What does PAVE own that SPHQ doesn't?
91 positions (80.5% of PAVE) are unique to PAVE, led by PWR, CSX and HWM. In the other direction, 90 positions (93.7% of SPHQ) are unique to SPHQ.