PAVE vs XLI: Holdings Overlap
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
XLIState Street® Industrial Select Sector SPDR® ETF
State Street (SPDR) · 83 holdings · $34.2B · as of 2026-08-06
Holdings snapshots are 67 days apart (PAVE: 2026-05-31, XLI: 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 XLI?
Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100 positions; State Street® Industrial Select Sector SPDR® ETF (XLI, by State Street (SPDR)) holds 83. They have 20 holdings in common, and by portfolio weight the two funds are 26.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 26.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 20PAVE holds 100 · XLI holds 83
- Weight in Shared Holdings
- PAVE 47%·XLI 26%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
80 of 100 positions (53.0% of the fund) are not held by XLI. Showing the top 30 by weight.
Sector Breakdown
| Sector | PAVE | XLI |
|---|---|---|
| Industrials | 75.1% | 99.9% |
| Materials | 20.3% | 0.0% |
| Utilities | 3.1% | 0.0% |
| Information Technology | 1.1% | 0.0% |
| Other Sectors | 0.0% | 0.0% |
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% |
| XLI | +1.5% | +20.0% | +24.5% | +20.8% | +14.0% | +14.2% | 1.11% |
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 XLI →
Shared Holdings(20)
The top 10 shared positions account for 79% of the overlap, led by UNP, ETN and DE.
 UNPUnion Pacific Corporation COM | 3.12% | 3.02% | 3.02% |
|---|---|---|---|
 ETNEaton Corporation PLC COM USD0.01 | 3.30% | 2.99% | 2.99% |
 DEDeere & Company COM | 2.86% | 2.66% | 2.66% |
 PHParker-Hannifin Corp. COM | 2.48% | 2.32% | 2.32% |
 HWMHowmet Aerospace Inc COM | 3.27% | 1.99% | 1.99% |
 TTTrane Technologies PLC COM USD1 | 3.19% | 1.82% | 1.82% |
 PWRQuanta Services, Inc. COM | 4.18% | 1.73% | 1.73% |
 CSXCSX Corporation COM | 3.48% | 1.62% | 1.62% |
 EMREmerson Electric Co. COM | 2.64% | 1.51% | 1.51% |
 NSCNorfolk Southern Corporation COM | 2.90% | 1.32% | 1.32% |
 URIUnited Rentals, Inc. COM | 2.87% | 1.25% | 1.25% |
 FASTFastenal Co. COM | 2.71% | 1.00% | 1.00% |
 ROKRockwell Automation, Inc. COM | 2.92% | 0.85% | 0.85% |
 EMEEmcor Group Inc COM | 2.01% | 0.62% | 0.62% |
 HUBBHubbell Incorporated COM | 1.36% | 0.46% | 0.46% |
 FTVFortive Corporation COM | 1.00% | 0.32% | 0.32% |
 IEXIdex Corporation COM | 0.85% | 0.30% | 0.30% |
 JJacobs Solutions Inc. COM | 0.76% | 0.29% | 0.29% |
 PNRPentair PLC COM USD0.01 | 0.63% | 0.19% | 0.19% |
 BLDRBuilders Firstsource, Inc. COM | 0.46% | 0.13% | 0.13% |
Frequently Asked Questions
How much do PAVE and XLI overlap?
PAVE and XLI overlap by 26.4% of portfolio weight. They share 20 holdings (PAVE holds 100 positions and XLI holds 83), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PAVE and XLI?
The two portfolios are 26.4% 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 XLI?
The largest positions held by both funds are UNP, ETN, DE, PH and HWM. Together the top 10 shared positions account for 79% of the total overlap.
What does PAVE own that XLI doesn't?
80 positions (53.0% of PAVE) are unique to PAVE, led by NUE, SRE and CRH. In the other direction, 63 positions (73.5% of XLI) are unique to XLI.