PAVE vs VTWO: Holdings Overlap
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
VTWOVanguard Russell 2000 Index Fund
Vanguard · 1952 holdings · $17.4B · as of 2026-05-31
How similar are PAVE and VTWO?
Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100 positions; Vanguard Russell 2000 Index Fund (VTWO, by Vanguard) holds 1952. They have 45 holdings in common, and by portfolio weight the two funds are 5.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 5.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 45PAVE holds 100 · VTWO holds 1952
- Weight in Shared Holdings
- PAVE 16%·VTWO 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
55 of 100 positions (83.7% of the fund) are not held by VTWO. Showing the top 30 by weight.
Only in VTWO
1907 of 1952 positions (94.0% of the fund) are not held by PAVE. Showing the top 30 by weight.
Sector Breakdown
| Sector | PAVE | VTWO |
|---|---|---|
| Industrials | 75.1% | 19.4% |
| Materials | 20.3% | 4.3% |
| Information Technology | 1.1% | 17.8% |
| Health Care | 0.0% | 15.5% |
| Financials | 0.0% | 14.3% |
| Other Sectors | 3.1% | 23.8% |
| Unclassified | 0.3% | 4.8% |
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. “Unclassified” is weight we could not classify (0% of PAVE, 5% of VTWO).
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% |
| VTWO | +1.8% | +23.1% | +38.8% | +17.3% | +7.7% | +11.0% | 1.07% |
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 VTWO →
Shared Holdings(45)
The top 10 shared positions account for 54% of the overlap, led by STRL, DY and SPXC.
 STRLSterling Infrastructure Inc COM | 1.43% | 0.75% | 0.75% |
|---|---|---|---|
 DYDycom Industries, Inc. COM | 0.80% | 0.44% | 0.44% |
 SPXCSPX Technologies, Inc. COM | 0.58% | 0.31% | 0.31% |
 AGXArgan Inc COM | 0.50% | 0.26% | 0.26% |
 CMCCommercial Metals Company COM | 0.46% | 0.25% | 0.25% |
 POWLPowell Industries Inc. COM | 0.56% | 0.24% | 0.24% |
 MYRGMYR Group, Inc. | 0.51% | 0.21% | 0.21% |
 ZWSZurn Elkay Water Solutions Corporation COMMON STOCK | 0.43% | 0.21% | 0.21% |
 PRIMPrimoris Services Corp. COM | 0.37% | 0.20% | 0.20% |
 TEXTerex Corporation COM | 0.26% | 0.19% | 0.19% |
 ACAArcosa Inc COM | 0.34% | 0.18% | 0.18% |
 GVAGranite Construction Inc COM | 0.32% | 0.18% | 0.18% |
 ROADConstruction Partners, Inc., Class A | 0.30% | 0.16% | 0.16% |
 MTRNMaterion Corp COM | 0.41% | 0.13% | 0.13% |
 KNFKnife River Corp. COMMON STOCK | 0.28% | 0.13% | 0.13% |
 CSWCSW Industrials Inc. COM | 0.25% | 0.13% | 0.13% |
 HRIHerc Holdings Inc COM | 0.24% | 0.13% | 0.13% |
 LGNLegence Corp., Class A | 0.47% | 0.13% | 0.13% |
 MWAMueller Water Products, Inc. COM SER A | 0.26% | 0.12% | 0.12% |
 CENXCentury Aluminum Company COM | 0.38% | 0.11% | 0.11% |
 BMIBadger Meter Inc COM | 0.20% | 0.11% | 0.11% |
 TPCTutor Perini Corporation COM | 0.26% | 0.09% | 0.09% |
 EXPOExponent Inc COM | 0.21% | 0.09% | 0.09% |
 ATKRAtkore Inc COMMON STOCK | 0.31% | 0.08% | 0.08% |
 CTRICenturi Holdings Inc. COM SHS | 0.30% | 0.08% | 0.08% |
Frequently Asked Questions
How much do PAVE and VTWO overlap?
PAVE and VTWO overlap by 5.6% of portfolio weight. They share 45 holdings (PAVE holds 100 positions and VTWO holds 1952), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PAVE and VTWO?
The two portfolios are 5.6% 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 VTWO?
The largest positions held by both funds are STRL, DY, SPXC, AGX and CMC. Together the top 10 shared positions account for 54% of the total overlap.
What does PAVE own that VTWO doesn't?
55 positions (83.7% of PAVE) are unique to PAVE, led by PWR, CSX and ETN. In the other direction, 1907 positions (94.0% of VTWO) are unique to VTWO.