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PIPEvsPAVEETF Comparison

ETF 1

PIPE

Invesco SteelPath MLP & Energy Infrastructure ETF

This fund is part of

Infrastructure

-0.15%

Full PIPE fund page

VS

ETF 2

PAVE

Global X U.S. Infrastructure Development ETF

This fund is part of

Infrastructure

-0.15%

Full PAVE fund page

Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) and Global X U.S. Infrastructure Development ETF (PAVE) belong to the same industry segment: Infrastructure. PIPE's top 3 sector exposures are Energy and Utilities. In contrast, PAVE's top sector exposures are Industrials and Materials.Utilities, PIPE is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.47% for PAVE. PIPE is up 24.75% year-to-date (YTD) with -$209K in YTD flows. PAVE performs worse with 15.39% YTD performance, and +$1.38B in YTD flows. Run a side-by-side ETF comparison of PIPE and PAVE 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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PIPE vs PAVE 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.	PIPE PAVE	-0.43%+12.11%	+15.98%+7.59%	+24.75%+15.39%	+29.05%+45.77%	n/a+102.93%	n/a+118.40%
Flows	PIPE PAVE	-+$305M	-$209K+$1.01B	-$209K+$1.38B	+$36M+$2.02B	-+$3.93B	-+$4.74B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PIPE PAVE	+14.37%+23.77%	+13.79%+18.64%	n/a+20.39%	n/a+21.94%
Max drawdown	PIPE PAVE	-5.89%-11.91%	-7.30%-11.91%	n/a-26.27%	n/a-26.27%
Max drawdown duration	PIPE PAVE	34d59d	109d59d	n/a239d	n/a239d

Trading data

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	PIPE	PAVE
Last sale 4/29/2026 at 1:30 PM	$29.49	$55.13
Previous close 04/29/2026	$29.20	$55.73
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 March 31, 2026

1-year trailing difference

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PIPE

is actively managed and doesn’t replicate an index

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

Main metrics

Last update 4/29/2026 at 1:30 PM

Live

Closed

	PIPE	PAVE
Last price	$29.49	$55.13
1D performance	+0.97%	-1.08%
AuM	$61.90 M	$12.92 B
E/R	0.75%	0.47%

Characteristics

	PIPE	PAVE
Management strategy	Active	Passive
Provider	Invesco	Global X
Benchmark	-	Indxx U.S. Infrastructure Development Index
N° of holdings	23	91
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	February 20, 2025	March 6, 2017
ESG	No	No

More PIPE data on Trackinsight

More PAVE data on Trackinsight

Exposure

Countries

PIPE

USA

73.94%

Canada

26.06%

Other

0%

PAVE

USA

87.88%

Ireland

9.93%

Other

2.2%

Sectors

PIPE

Energy

87.33%

Other

12.67%

PAVE

Industrials

68.61%

Materials

19.86%

Other

11.53%

Diversification

PIPE

Total weight of top 15 holdings out of 15

75.72%

PAVE

Total weight of top 15 holdings out of 15

46.17%

Top 15 holdings

Data as of March 31, 2026

PIPE

TARGA RESOURCS

7.54%

WILLIAMS

6.46%

PLAINS GP HOLDINGS

5.99%

TC ENERGY CORP

5.79%

CHENIERE ENERGY

5.33%

ONEOK

5.16%

KINDER MORGAN

4.85%

PEMBINA PIPELINE

4.65%

ENBRIDGE

4.53%

KEYERA

4.53%

ENERGY TRANSFER LP UNITS

4.46%

ENTERPRISE PRODUCTS PARTNERS UNT

4.45%

US50012A1088

4.28%

MPLX COMMON UNITS

4.06%

CA83671M1059

3.62%

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%

Frequently asked questions about PIPE and PAVE

PIPEvsPAVEETF Comparison

Invesco SteelPath MLP & Energy Infrastructure ETF

Global X U.S. Infrastructure Development ETF

PIPE vs PAVE performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the PIPE and PAVE ETFs performed in 2026?

As of April 29, 2026, PIPE is up 24.75% year-to-date (YTD), while PAVE has returned 15.39%. That puts PIPE better performer ahead so far this year.

Which ETF is attracting more investor money: PIPE or PAVE?

Year-to-date, the PIPE ETF saw -$209K in flows, compared to +$1.38B for PAVE.

Which ETF is more volatile: PIPE or PAVE?

Over the past year, PIPE had a volatility of 13.79%, while PAVE experienced 18.64%.

Which ETF is bigger: PIPE or PAVE?

As of April 29, 2026, PIPE holds $61.90 M in assets under management (AUM), while PAVE manages $12.92 B.

What sectors do the PIPE and PAVE ETFs invest in?

PIPE leans toward sectors like Energy. Meanwhile, PAVE focuses on Industrials and Materials.

What are the top holdings of the PIPE ETF and PAVE ETF?

PIPE top holdings include TARGA RESOURCS, WILLIAMS and PLAINS GP HOLDINGS. PAVE holds in its top three: QUANTA SERVICES, SEMPRA ENERGY and CSX.

Which ETF is more diversified: PIPE or PAVE?

PIPE holds 25 securities with 75.72% of its assets in the top 15. PAVE has 99 securities and a top 15 weight of 46.17%.

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