PAVE vs SPY: Holdings Overlap
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 67 days apart (PAVE: 2026-05-31, SPY: 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 SPY?
Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 27 holdings in common, and by portfolio weight the two funds are 2.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 27PAVE holds 100 · SPY holds 504
- Weight in Shared Holdings
- PAVE 62%·SPY 3%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
73 of 100 positions (37.9% of the fund) are not held by SPY. Showing the top 30 by weight.
Sector Breakdown
| Sector | PAVE | SPY |
|---|---|---|
| Industrials | 75.1% | 8.8% |
| Information Technology | 1.1% | 37.6% |
| Materials | 20.3% | 1.8% |
| Financials | 0.0% | 12.3% |
| Communication Services | 0.0% | 9.7% |
| Other Sectors | 3.1% | 29.8% |
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% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
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 SPY →
Shared Holdings(27)
The top 10 shared positions account for 66% of the overlap, led by UNP, ETN and DE.
 UNPUnion Pacific Corporation COM | 3.12% | 0.26% | 0.26% |
|---|---|---|---|
 ETNEaton Corporation PLC COM USD0.01 | 3.30% | 0.26% | 0.26% |
 DEDeere & Company COM | 2.86% | 0.23% | 0.23% |
 PHParker-Hannifin Corp. COM | 2.48% | 0.20% | 0.20% |
 HWMHowmet Aerospace Inc COM | 3.27% | 0.17% | 0.17% |
 TTTrane Technologies PLC COM USD1 | 3.19% | 0.16% | 0.16% |
 PWRQuanta Services, Inc. COM | 4.18% | 0.15% | 0.15% |
 CSXCSX Corporation COM | 3.48% | 0.14% | 0.14% |
 EMREmerson Electric Co. COM | 2.64% | 0.13% | 0.13% |
 NSCNorfolk Southern Corporation COM | 2.90% | 0.12% | 0.12% |
 URIUnited Rentals, Inc. COM | 2.87% | 0.11% | 0.11% |
 CRHCRH plc | 2.41% | 0.10% | 0.10% |
 NUENucor Corporation COM | 3.10% | 0.09% | 0.09% |
 FASTFastenal Co. COM | 2.71% | 0.09% | 0.09% |
 SRESempra COM | 2.86% | 0.08% | 0.08% |
 ROKRockwell Automation, Inc. COM | 2.92% | 0.07% | 0.07% |
 VMCVulcan Materials Company COM | 2.03% | 0.06% | 0.06% |
 EMEEmcor Group Inc COM | 2.01% | 0.05% | 0.05% |
 STLDSteel Dynamics, Inc. COM | 2.06% | 0.05% | 0.05% |
 MLMMartin Marietta Materials Inc COM | 1.90% | 0.05% | 0.05% |
 HUBBHubbell Incorporated COM | 1.36% | 0.04% | 0.04% |
 FTVFortive Corporation COM | 1.00% | 0.03% | 0.03% |
 IEXIdex Corporation COM | 0.85% | 0.03% | 0.03% |
 JJacobs Solutions Inc. COM | 0.76% | 0.03% | 0.03% |
 TRMBTrimble Inc COM | 0.72% | 0.02% | 0.02% |
Frequently Asked Questions
How much do PAVE and SPY overlap?
PAVE and SPY overlap by 2.8% of portfolio weight. They share 27 holdings (PAVE holds 100 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PAVE and SPY?
The two portfolios are 2.8% 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 SPY?
The largest positions held by both funds are UNP, ETN, DE, PH and HWM. Together the top 10 shared positions account for 66% of the total overlap.
What does PAVE own that SPY doesn't?
73 positions (37.9% of PAVE) are unique to PAVE, led by AMRZ, MTZ and STRL. In the other direction, 477 positions (97.2% of SPY) are unique to SPY.