LIVE
PAVE
Global X U.S. Infrastructure Development ETF · Sector ETF
$58.56
+8.91% this month
VERSUS
⟷
COMPARE
GII
SPDR S&P Global Infrastructure ETF · Sector ETF
$75.52
+0.74% this month
Scoreboard verdict
Across expense ratio, momentum, yield, fund size, risk
PAVE
2
GII
3
Comparison scoreboard
GII LEADS 3/5Exp. Ratio
PAVE 0.47%
GII ✓0.40%
1Y Return
PAVE ✓+40.49%
GII +17.92%
Div. Yield
PAVE 0.78%
GII ✓2.92%
AUM
PAVE ✓$13.54B
GII $964.81M
Beta
PAVE 1.22
GII ✓0.63
Metrics last refreshed: 6/22/2026
Quick take
PAVE vs GII ETF Comparison: AI Score, Valuation, Performance and Upside
PAVE and GII are both infrastructure ETFs but with fundamentally different exposures. PAVE targets US construction activity beneficiaries — materials, equipment, and engineering companies benefiting from IIJA spending. GII targets global infrastructure asset operators — toll roads, airports, utilities, and pipelines generating stable cash flows. PAVE is the IIJA construction growth play; GII is the income-oriented infrastructure ownership play.
PAVE vs GII — Global X US Infrastructure Development ETF (IIJA-aligned US construction materials, industrial machinery, and engineering companies as beneficiaries of the $1.2T domestic infrastructure buildout) versus SPDR Global Infrastructure ETF (global toll roads, airports, utilities, and pipelines generating inflation-linked infrastructure income from operating assets worldwide).
Live analysis · updated 6/22/2026
GII holds the edge across 3 of 5 key metrics in this comparison. PAVE has delivered stronger 1-year price return (+40.49% vs +17.92% for GII).
Normalized 1Y performance
PAVE
GII
Recent returns
PAVE
GII
Who should consider this stock?
PAVE may suit investors who:
- →believe IIJA infrastructure spending (roads, bridges, broadband, ports, water) creates a multi-year demand tailwind for construction materials (Vulcan, Martin Marietta), heavy equipment (Caterpillar), and engineering (Quanta Services)
- →want US domestic infrastructure construction exposure without international currency risk or geopolitical exposure through a IIJA-specific portfolio of materials and machinery companies
- →prefer capital appreciation from construction activity cycles rather than infrastructure income from operating assets — PAVE generates returns from materials and equipment sales, not utility income
- →are comfortable with cyclical industrial exposure creating sensitivity to broad economic conditions beyond government infrastructure spending timelines
GII may suit investors who:
- →want inflation-protected infrastructure income from regulated and contracted assets — toll roads, airports, and pipelines with contractual cash flows that escalate with inflation
- →prefer global infrastructure diversification across 20+ countries — European, Australian, and Canadian infrastructure assets alongside US utilities and energy pipelines
- →value bond-like infrastructure income characteristics with lower volatility than PAVE's cyclical construction exposure — GII's operating assets generate steadier cash flows
- →are comfortable with interest rate sensitivity on infrastructure income assets and currency risk from international holdings in the global infrastructure portfolio
Performance & AI score
| Metric | PAVE | GII |
|---|---|---|
| ETF score | 65.0 | 48.0 |
| Latest close | $58.56 | $75.52 |
| 1M return | +8.91% | +0.74% |
| 6M return | +23.13% | +10.41% |
| 1Y return | +40.49% | +17.92% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | PAVE | GII |
|---|---|---|
| 1Y ago | $14.18K (+41.8%) started 2025-06-18 | $12.13K (+21.3%) started 2025-06-18 |
| 5Y ago | $25.47K (+154.7%) started 2021-06-18 | $21.47K (+114.7%) started 2021-06-18 |
| 10Y ago | $44.74K (+347.4%) started 2017-03-08 | $35.11K (+251.1%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Fund characteristics
| Metric | PAVE | GII |
|---|---|---|
| Expense ratio | 0.47% | 0.40% |
| Total assets (AUM) | $13.54B | $964.81M |
| Dividend yield | 0.78% | 2.92% |
| Trailing P/E | 31.19 | 21.05 |
| Beta | 1.22 | 0.63 |
| 52-week change | 40.49% | 17.92% |
Risk & fund metrics
| Metric | PAVE | GII |
|---|---|---|
| 1Y return | +40.49% | +17.92% |
| 6M return | +23.13% | +10.41% |
| 1M return | +8.91% | +0.74% |
| 1Y Sharpe ratio | 1.62 | 1.16 |
| Beta | 1.22 | 0.63 |
| Dividend yield | 0.78% | 2.92% |
| 5Y CAGR | +19.69% | +11.65% |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
PAVE max drawdown11.91%
GII max drawdown5.94%
PAVE max wkly drop6.37%
GII max wkly drop3.19%
5Y risk snapshot
PAVE max drawdown26.23%
GII max drawdown20.67%
PAVE max wkly drop12.00%
GII max wkly drop9.60%
10Y risk snapshot
PAVE max drawdown44.08%
GII max drawdown42.84%
PAVE max wkly drop23.08%
GII max wkly drop26.36%
Performance metrics by period
| Period | Metric | PAVE | GII |
|---|---|---|---|
| 1Y | Growth | +40.49% | +17.92% |
| CAGR | +40.52% | +17.94% | |
| Sharpe ratio | 1.62 | 1.16 | |
| Max drawdown | 11.91% | 5.94% | |
| Max daily drop | 3.27% | 2.60% | |
| Max wkly drop | 6.37% | 3.19% | |
| 5Y | Growth | +145.62% | +73.49% |
| CAGR | +19.69% | +11.65% | |
| Sharpe ratio | 0.73 | 0.54 | |
| Max drawdown | 26.23% | 20.67% | |
| Max daily drop | 6.63% | 5.86% | |
| Max wkly drop | 12.00% | 9.60% | |
| 10Y | Growth | +321.14% | +132.32% |
| CAGR | +16.76% | +8.80% | |
| Sharpe ratio | 0.58 | 0.32 | |
| Max drawdown | 44.08% | 42.84% | |
| Max daily drop | 13.58% | 13.91% | |
| Max wkly drop | 23.08% | 26.36% |
Fund overview
| Category | PAVE | GII |
|---|---|---|
| Fund name | Global X U.S. Infrastructure Development ETF | State Street SPDR S&P Global Infrastructure ETF |
| Type | ETF | ETF |
| Expense ratio | 0.47% | 0.40% |
| Total assets (AUM) | $13.54B | $964.81M |
| Dividend yield | 0.78% | 2.92% |
PAVE strengths
- →Direct IIJA beneficiary: PAVE's materials and machinery holdings are the direct supply chain for IIJA-funded infrastructure projects — construction materials, heavy equipment, and engineering are the picks-and-shovels of infrastructure spending
- →US domestic focus insulates from currency/geopolitical risk: PAVE's US-only holdings avoid international political risk, currency headwinds, and foreign regulatory exposure
- →Industrial and materials sector diversification: PAVE provides exposure to the industrials and materials sectors through an infrastructure lens — different risk profile than owning individual construction stocks
GII strengths
- →Stable infrastructure income cash flows: GII's utility and transport network holdings generate regulated or contracted cash flows — more bond-like income characteristics than PAVE's cyclical construction exposure
- →Global diversification across 20+ countries: GII provides infrastructure exposure across Europe, Australia, Canada, and Asia — diversifying beyond US IIJA spending into international infrastructure asset ownership
- →Inflation-linked infrastructure contracts: toll roads, airports, and pipelines often have inflation-escalation provisions in contracts — providing real income protection in inflationary environments
Risks to watch — PAVE
- →0.47% expense ratio: expensive for a sector ETF vs broader industrial ETFs like XLI at 0.10% — investors pay a thematic premium for the IIJA-specific portfolio construction
- →IIJA spending timeline uncertainty: infrastructure appropriations are approved but project starts are often delayed by permitting, labor, and supply chain issues — the spending timeline is slower than initial projections
- →Cyclical industrial exposure: construction materials and machinery companies are cyclically sensitive — economic slowdowns reduce private construction activity even if government infrastructure spending continues
Risks to watch — GII
- →Interest rate sensitivity of infrastructure income assets: GII's utility-like infrastructure assets re-rate in rising rate environments — higher rates make fixed infrastructure income less attractive vs bonds
- →Less US IIJA direct exposure than PAVE: GII's operating infrastructure focus misses the construction materials and equipment companies most directly benefiting from IIJA project spending
- →Currency risk from international holdings: GII's non-US holdings introduce currency exchange rate risk for US investors — EUR, AUD, and CAD exposure creates additional return variability
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