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PAVEvsHWAYETF Comparison

ETF 1

PAVE

Global X U.S. Infrastructure Development ETF

This fund is part of

Infrastructure

+0.11%

Full PAVE fund page

VS

ETF 2

HWAY

Themes US Infrastructure ETF

This fund is part of

Infrastructure

+0.11%

Full HWAY fund page

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 15.39% year-to-date (YTD) with +$1.38B in YTD flows. HWAY performs better with 16.82% 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.

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PAVE vs HWAY performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/29/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PAVE HWAY	+12.11%+13.13%	+7.59%+7.89%	+15.39%+16.82%	+45.77%+47.98%	+102.93%n/a	+118.40%n/a
Flows	PAVE HWAY	+$305M-	+$1.01B+$359K	+$1.38B+$689K	+$2.02B+$1M	+$3.93B-	+$4.74B-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PAVE HWAY	+23.77%+24.71%	+18.64%+19.05%	+20.39%n/a	+21.94%n/a
Max drawdown	PAVE HWAY	-11.91%-12.66%	-11.91%-12.66%	-26.27%n/a	-26.27%n/a
Max drawdown duration	PAVE HWAY	59d59d	59d59d	239dn/a	239dn/a

Trading data

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	PAVE	HWAY
Last sale 4/30/2026 at 1:30 PM	$56.79	$37.51
Previous close 04/29/2026	$55.13	$36.15
Consolidated volume 04/29/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of April 29, 2026

1-year trailing difference

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	PAVE	HWAY
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/30/2026 at 1:30 PM

Live

Closed

	PAVE	HWAY
Last price	$56.79	$37.51
1D performance	+3.01%	+3.76%
AuM	$12.92 B	$2.89 M
E/R	0.47%	0.29%

Characteristics

	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	93
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	March 6, 2017	September 12, 2024
ESG	No	No

More PAVE data on Trackinsight

More HWAY data on Trackinsight

Exposure

Countries

PAVE

USA

87.88%

Ireland

9.93%

Other

2.2%

HWAY

USA

95.9%

Other

4.1%

Sectors

PAVE

Industrials

68.61%

Materials

19.86%

Other

11.53%

HWAY

Industrials

77.46%

Materials

17.56%

Other

4.98%

Diversification

PAVE

Total weight of top 15 holdings out of 15

46.17%

HWAY

Total weight of top 15 holdings out of 15

58.66%

Top 15 holdings

Data as of March 31, 2026

PAVE

QUANTA SERVICES

3.59%

SEMPRA ENERGY

3.54%

CSX

3.50%

DEERE

3.34%

TRANE TECHNOLOGIES PLC

3.26%

UNION PACIFIC U

3.25%

EATON CORP PLC

3.24%

HOWMET AEROSPACE INC

3.23%

FASTENAL

3.17%

NORFOLK SOUTHERN

3.07%

PARKER HANNIFIN

2.88%

EMERSON ELECTRIC

2.58%

ROCKWELL AUTOMAT

2.58%

CRH PLC

2.58%

UNITED RENTALS

2.35%

HWAY

CATERPILLAR

5.75%

DEERE

5.25%

PARKER HANNIFIN

4.96%

QUANTA SERVICES

4.91%

CSX

4.67%

UNION PACIFIC U

4.45%

NORFOLK SOUTHERN

4.14%

EMERSON ELECTRIC

4.06%

CRH PLC

3.74%

FASTENAL

3.26%

UNITED RENTALS

2.91%

WW GRAINGER

2.90%

COMFORT SYSTEMS USA

2.79%

WABTEC

2.54%

NUCOR

2.33%

Frequently asked questions about PAVE and HWAY

PAVEvsHWAYETF Comparison

Global X U.S. Infrastructure Development ETF

Themes US Infrastructure ETF

PAVE vs HWAY performance and flow charts

Performance

Cumulative Flows

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Countries

Sectors

Diversification

Top 15 holdings

How have the PAVE and HWAY ETFs performed in 2026?

As of April 29, 2026, PAVE is up 15.39% year-to-date (YTD), while HWAY has returned 16.82%. 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 +$1.38B in flows, compared to +$689K for HWAY.

Which ETF is more volatile: PAVE or HWAY?

Over the past year, PAVE had a volatility of 18.64%, while HWAY experienced 19.05%.

Which ETF is bigger: PAVE or HWAY?

As of April 29, 2026, PAVE holds $12.92 B in assets under management (AUM), while HWAY manages $2.89 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 QUANTA SERVICES, SEMPRA ENERGY and CSX. HWAY holds in its top three: CATERPILLAR, DEERE and PARKER HANNIFIN.

Which ETF is more diversified: PAVE or HWAY?

PAVE holds 99 securities with 46.17% of its assets in the top 15. HWAY has 98 securities and a top 15 weight of 58.66%.

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