LIVE
XLI
Industrial Select Sector SPDR Fund · ETF / Industrials Sector
$180.91
+7.21% this month
VERSUS
⟷
COMPARE
PAVE
Global X US Infrastructure Development ETF · ETF / Infrastructure Theme
$58.56
+8.91% this month
Scoreboard verdict
Across expense ratio, momentum, yield, fund size, risk
XLI
4
PAVE
1
Comparison scoreboard
XLI LEADS 4/5Exp. Ratio
XLI ✓0.08%
PAVE 0.47%
1Y Return
XLI +28.93%
PAVE ✓+40.49%
Div. Yield
XLI ✓1.18%
PAVE 0.78%
AUM
XLI ✓$30.22B
PAVE $13.54B
Beta
XLI ✓1.00
PAVE 1.22
Metrics last refreshed: 6/20/2026
Quick take
XLI vs PAVE Stock Comparison: AI Score, Valuation, Performance and Upside
XLI and PAVE both provide industrial sector exposure but with different emphasis. XLI is the broad S&P 500 industrials sector ETF including defense, transportation, and professional services. PAVE is the infrastructure-focused thematic ETF specifically targeting construction materials, equipment, and electrical components benefiting from IIJA infrastructure spending. XLI is cheaper and more diversified; PAVE is more targeted for infrastructure investment thesis.
XLI vs PAVE — XLI (the S&P 500 industrials sector ETF with broad coverage of defense, machinery, transportation, and professional services at 0.09% expense ratio) versus PAVE (the infrastructure thematic ETF targeting construction materials, equipment, and electrical components aligned with IIJA infrastructure spending at 0.47%).
Live analysis · updated 6/20/2026
XLI holds the edge across 4 of 5 key metrics in this comparison. PAVE has delivered stronger 1-year price return (+40.49% vs +28.93% for XLI).
Normalized 1Y performance
XLI
PAVE
Recent returns
XLI
PAVE
Who should consider this stock?
XLI may suit investors who:
- →want the broadest industrial sector exposure including defense, transportation, machinery, and services in a single low-cost ETF
- →prefer 0.09% expense ratio and maximum liquidity for tactical or strategic industrial sector allocation
- →value defense and aerospace exposure (RTX, Lockheed, General Dynamics) that PAVE's infrastructure focus excludes
- →are comfortable with cyclical machinery and Boeing company-specific risk
PAVE may suit investors who:
- →specifically want infrastructure spending exposure — IIJA-aligned construction materials (Vulcan, Martin Marietta) and electrical components are PAVE's core differentiator
- →believe US infrastructure capital spending cycle is a multi-year theme worth targeted exposure beyond the diluted weighting in broad industrial ETFs
- →value the infrastructure thesis alignment even at 0.47% expense ratio vs XLI's 0.09%
- →are comfortable with thematic concentration and infrastructure cycle risk if government spending slows or reallocates
Performance & AI score
| Metric | XLI | PAVE |
|---|---|---|
| ETF score | 81.0 | 65.0 |
| Latest close | $180.91 | $58.56 |
| 1M return | +7.21% | +8.91% |
| 6M return | +18.57% | +23.13% |
| 1Y return | +28.93% | +40.49% |
$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 | XLI | PAVE |
|---|---|---|
| 1Y ago | $13.07K (+30.7%) started 2025-06-18 | $14.18K (+41.8%) started 2025-06-18 |
| 5Y ago | $21.2K (+112.0%) started 2021-06-18 | $25.47K (+154.7%) started 2021-06-18 |
| 10Y ago | $45.84K (+358.4%) started 2016-06-20 | $44.74K (+347.4%) started 2017-03-08 |
Hypothetical — past performance does not guarantee future results.
Fund characteristics
| Metric | XLI | PAVE |
|---|---|---|
| Expense ratio | 0.08% | 0.47% |
| Total assets (AUM) | $30.22B | $13.54B |
| Dividend yield | 1.18% | 0.78% |
| Trailing P/E | 31.42 | 31.19 |
| Beta | 1.00 | 1.22 |
| 52-week change | 28.93% | 40.49% |
Risk & fund metrics
| Metric | XLI | PAVE |
|---|---|---|
| 1Y return | +28.93% | +40.49% |
| 6M return | +18.57% | +23.13% |
| 1M return | +7.21% | +8.91% |
| 1Y Sharpe ratio | 1.38 | 1.62 |
| Beta | 1.00 | 1.22 |
| Dividend yield | 1.18% | 0.78% |
| 5Y CAGR | +14.41% | +19.69% |
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
XLI max drawdown12.21%
PAVE max drawdown11.91%
XLI max wkly drop4.45%
PAVE max wkly drop6.37%
5Y risk snapshot
XLI max drawdown21.64%
PAVE max drawdown26.23%
XLI max wkly drop11.68%
PAVE max wkly drop12.00%
10Y risk snapshot
XLI max drawdown42.33%
PAVE max drawdown44.08%
XLI max wkly drop20.13%
PAVE max wkly drop23.08%
Performance metrics by period
| Period | Metric | XLI | PAVE |
|---|---|---|---|
| 1Y | Growth | +28.93% | +40.49% |
| CAGR | +28.95% | +40.52% | |
| Sharpe ratio | 1.38 | 1.62 | |
| Max drawdown | 12.21% | 11.91% | |
| Max daily drop | 3.38% | 3.27% | |
| Max wkly drop | 4.45% | 6.37% | |
| 5Y | Growth | +96.00% | +145.62% |
| CAGR | +14.41% | +19.69% | |
| Sharpe ratio | 0.60 | 0.73 | |
| Max drawdown | 21.64% | 26.23% | |
| Max daily drop | 6.29% | 6.63% | |
| Max wkly drop | 11.68% | 12.00% | |
| 10Y | Growth | +281.13% | +321.14% |
| CAGR | +14.33% | +16.76% | |
| Sharpe ratio | 0.55 | 0.58 | |
| Max drawdown | 42.33% | 44.08% | |
| Max daily drop | 11.34% | 13.58% | |
| Max wkly drop | 20.13% | 23.08% |
Fund overview
| Category | XLI | PAVE |
|---|---|---|
| Fund name | State Street Industrial Select Sector SPDR ETF | Global X U.S. Infrastructure Development ETF |
| Type | ETF | ETF |
| Expense ratio | 0.08% | 0.47% |
| Total assets (AUM) | $30.22B | $13.54B |
| Dividend yield | 1.18% | 0.78% |
XLI strengths
- →Broadest industrial sector coverage: XLI's 77+ holdings cover aerospace/defense, transportation, machinery, professional services, and industrial conglomerates in a single low-cost ETF
- →Defense exposure through RTX, Lockheed, General Dynamics: XLI's aerospace and defense names provide geopolitical risk hedging and government spending exposure
- →0.09% expense ratio with excellent liquidity: XLI is the most traded industrial sector ETF — best for tactical and strategic industrial positioning
PAVE strengths
- →Pure infrastructure spending exposure: PAVE specifically targets companies benefiting from infrastructure construction and spending — construction materials, equipment, and electrical components are core holdings
- →IIJA and infrastructure legislation alignment: PAVE is designed to capture the Infrastructure Investment and Jobs Act (IIJA) $1.2T spending impact — direct exposure to government infrastructure capex cycle
- →Higher concentration in construction materials: Vulcan Materials, Martin Marietta, and steel companies in PAVE provide direct infrastructure materials exposure that broad industrials ETFs dilute
Risks to watch — XLI
- →Boeing concentration risk: Boeing's significant index weight creates company-specific risk — Boeing's quality control and 737 MAX issues have meaningfully impacted XLI at times
- →Cyclical industrial machinery exposure: Caterpillar and Deere are highly cyclical — commodity/construction downturns directly impact these XLI holdings
- →Diluted infrastructure exposure: XLI's broad industrial mandate means pure infrastructure plays are diluted by defense, professional services, and transportation holdings
Risks to watch — PAVE
- →More concentrated theme vs broad XLI: PAVE's infrastructure focus means it underperforms XLI when defense or transportation (not in PAVE focus) outperform
- →Higher expense ratio (~0.47%) vs XLI's 0.09%: PAVE's thematic ETF costs 5x more than XLI — a meaningful fee disadvantage over long holding periods
- →Infrastructure spending cycle risk: if government infrastructure spending slows or IIJA funds are delayed, PAVE's thesis-specific exposure underperforms broader industrials
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