PAVE vs SPMD: Holdings Overlap
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
SPMDState Street® SPDR® Portfolio S&P 400™ Mid Cap ETF
State Street (SPDR) · 399 holdings · $18.5B · as of 2026-08-06
Holdings snapshots are 67 days apart (PAVE: 2026-05-31, SPMD: 2026-08-06). 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 SPMD?
Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100 positions; State Street® SPDR® Portfolio S&P 400™ Mid Cap ETF (SPMD, by State Street (SPDR)) holds 399. They have 31 holdings in common, and by portfolio weight the two funds are 11.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 11.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 31PAVE holds 100 · SPMD holds 399
- Weight in Shared Holdings
- PAVE 23%·SPMD 12%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
69 of 100 positions (77.2% of the fund) are not held by SPMD. Showing the top 30 by weight.
Sector Breakdown
| Sector | PAVE | SPMD |
|---|---|---|
| Industrials | 75.1% | 26.0% |
| Materials | 20.3% | 6.1% |
| Financials | 0.0% | 16.1% |
| Information Technology | 1.1% | 15.7% |
| Consumer Discretionary | 0.0% | 11.7% |
| Other Sectors | 3.1% | 30.0% |
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 |
|---|---|---|---|---|---|---|---|
| PAVE | +4.0% | +23.0% | +29.9% | +22.7% | +18.1% | — | 0.73% |
| SPMD | +3.1% | +18.5% | +26.0% | +14.6% | +9.1% | +11.3% | 1.19% |
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 SPMD →
Shared Holdings(31)
The top 10 shared positions account for 52% of the overlap, led by ATI, CRS and AA.
 ATIATI Inc COMMON STOCK | 1.29% | 0.84% | 0.84% |
|---|---|---|---|
 CRSCarpenter Technology Corporation COM | 1.27% | 0.76% | 0.76% |
 AAAlcoa Corporation COM | 1.09% | 0.68% | 0.68% |
 DYDycom Industries, Inc. COM | 0.80% | 0.67% | 0.67% |
 WWDWoodward Inc. COM | 1.14% | 0.60% | 0.60% |
 RSReliance Inc COM | 1.08% | 0.59% | 0.59% |
 WCCWesco International, Inc. COM | 0.95% | 0.50% | 0.50% |
 RBCRBC Bearings Incorporated | 0.98% | 0.49% | 0.49% |
 STRLSterling Infrastructure Inc COM | 1.43% | 0.45% | 0.45% |
 MTZMastec, Inc. COM | 1.62% | 0.44% | 0.44% |
 CSLCarlisle Companies Incorporated | 0.78% | 0.42% | 0.42% |
 MLIMueller Industries Inc. COM | 0.77% | 0.42% | 0.42% |
 LECOLincoln Electric Holdings Inc. COM | 0.77% | 0.42% | 0.42% |
 RPMRPM International Inc. COM | 0.74% | 0.41% | 0.41% |
 GGGGraco Inc COM | 0.68% | 0.38% | 0.38% |
 RRXRegal Rexnord Corporation COM | 0.73% | 0.33% | 0.33% |
 AYIAcuity Inc. COM | 0.51% | 0.30% | 0.30% |
 CRCrane Co. COMMON STOCK | 0.57% | 0.29% | 0.29% |
 SPXCSPX Technologies, Inc. COM | 0.58% | 0.29% | 0.29% |
 WMSAdvanced Drainage System Inc COM | 0.59% | 0.29% | 0.29% |
 ACMAECOM COMMON STOCK | 0.49% | 0.26% | 0.26% |
 VMIValmont Industries, Inc. COM | 0.55% | 0.26% | 0.26% |
 TTEKTetra Tech Inc COM | 0.39% | 0.25% | 0.25% |
 CMCCommercial Metals Company COM | 0.46% | 0.22% | 0.22% |
 TEXTerex Corporation COM | 0.26% | 0.21% | 0.21% |
Frequently Asked Questions
How much do PAVE and SPMD overlap?
PAVE and SPMD overlap by 11.6% of portfolio weight. They share 31 holdings (PAVE holds 100 positions and SPMD holds 399), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PAVE and SPMD?
The two portfolios are 11.6% 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 SPMD?
The largest positions held by both funds are ATI, CRS, AA, DY and WWD. Together the top 10 shared positions account for 52% of the total overlap.
What does PAVE own that SPMD doesn't?
69 positions (77.2% of PAVE) are unique to PAVE, led by PWR, CSX and ETN. In the other direction, 368 positions (94.1% of SPMD) are unique to SPMD.