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PAVEvsHWAYETF Comparison
Global X U.S. Infrastructure Development ETF (PAVE) and Themes US Infrastructure ETF (HWAY) belong to the same industry segment: Infrastructure. PAVE's top 3 sector exposures are Industrials, Materials and Utilities. In contrast, HWAY's top sector exposures are Industrials, Materials and Consumer Discretionary. PAVE is more expensive with a Total Expense Ratio (TER) of 0.47%, versus 0.29% for HWAY. PAVE is up 8.98% year-to-date (YTD) with +$923M in YTD flows. HWAY performs better with 9.74% YTD performance, and +$689K in YTD flows. Run a side-by-side ETF comparison of PAVE and HWAY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
PAVE vs HWAY performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PAVE HWAY | -5.81%-6.33% | +6.94%+7.18% | +8.98%+9.74% | +38.55%+37.54% | +90.15%n/a | +121.95%n/a |
| Flows | PAVE HWAY | +$476M+$359K | +$1.19B+$1M | +$923M+$689K | +$1.15B+$1M | +$3.48B- | +$5.44B- |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PAVE HWAY | +19.83%+20.61% | +22.57%+22.21% | +20.34%n/a | +21.78%n/a |
| Max drawdown | PAVE HWAY | -7.29%-8.10% | -14.24%-13.68% | -26.27%n/a | -26.27%n/a |
| Max drawdown duration | PAVE HWAY | 16d16d | 37d37d | 239dn/a | 239dn/a |
PAVE | HWAY | |
Last sale 3/11/2026 at 1:30 PM | $51.98 | $33.88 |
| Previous close 03/10/2026 | $52.07 | $33.93 |
| Consolidated volume 03/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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PAVE | HWAY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
PAVE | HWAY | |
|---|---|---|
| Last price | $51.98 | $33.88 |
| 1D performance | -0.17% | -0.15% |
| AuM | $11.77 B | $2.72 M |
| E/R | 0.47% | 0.29% |
PAVE | HWAY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Global X | Themes Management Company |
| Benchmark | Indxx U.S. Infrastructure Development Index | Solactive United States Infrastructure Index |
| N° of holdings | 91 | 94 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 6, 2017 | September 12, 2024 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the PAVE and HWAY ETFs performed in 2026?
As of March 10, 2026, PAVE is up 8.98% year-to-date (YTD), while HWAY has returned 9.74%. That puts HWAY better performer ahead so far this year.
Which ETF is attracting more investor money: PAVE or HWAY?
Year-to-date, the PAVE ETF saw +$923M in flows, compared to +$689K for HWAY.
Which ETF is more volatile: PAVE or HWAY?
Over the past year, PAVE had a volatility of 22.57%, while HWAY experienced 22.21%.
Which ETF is bigger: PAVE or HWAY?
As of March 10, 2026, PAVE holds $11.77 B in assets under management (AUM), while HWAY manages $2.72 M.
What sectors do the PAVE and HWAY ETFs invest in?
PAVE leans toward sectors like Industrials and Materials. Meanwhile, HWAY focuses on Industrials and Materials.
What are the top holdings of the PAVE ETF and HWAY ETF?
PAVE top holdings include HOWMET AEROSPACE INC, PARKER HANNIFIN and QUANTA SERVICES. HWAY holds in its top three: CATERPILLAR, PARKER HANNIFIN and DEERE.
Which ETF is more diversified: PAVE or HWAY?
PAVE holds 98 securities with 45.12% of its assets in the top 15. HWAY has 99 securities and a top 15 weight of 57.24%.
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