The American Society of Civil Engineers assigned a letter grade of C to the state of U.S. infrastructure in its 2025 report card, highlighting the need for investment.1
America is committed to improving its aging infrastructure. The Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act appropriated nearly $1tn to fund critical infrastructure projects.2
As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry.
1American Society of Engineers, Mar 2025
2Politico, 2024
Key Information |
Trading Details |
Distributions |
Taxes |
NAV | Daily Change | |||
Market Price | Daily Change |
Fund NAV | Market Price | Index | |
---|---|---|---|
Options Details |
Net Assets (%) | Ticker | Name | SEDOL | Shares Held | Market Value |
---|---|---|---|---|---|
Exposure |
ETF Characteristics |
ETF Risk Stats |
Return on Equity | 14.50% | |
Weighted Avg. Market Cap | 39,461 M | |
2024 | 2025 | |
Price-to-earnings | 20.96 | 19.45 |
Price-to-book value | 2.98 | 2.69 |
Sector | Weight (%) | |
---|---|---|
Industrials | 71.7 | |
Materials | 22.2 | |
Utilities | 3.3 | |
Information Technology | 2.1 | |
Consumer Discretionary | 0.7 |
VERSUS | BETA |
---|---|
S&P 500 | 1.29 |
NASDAQ-100 | 0.87 |
MSCI EAFE | 1.13 |
MSCI Emg. Mkts | 0.75 |
Standard Deviation | 26.00% |
Source: AltaVista Research, LLC
NAV | $37.96 | Daily Change | $0.02 | 0.05% |
Market Price | $37.93 | Daily Change | -$0.02 | -0.05% |
Net Assets (%) | Ticker | Name | SEDOL | Market Price ($) | Shares Held | Market Value ($) |
---|---|---|---|---|---|---|
3.69 | HWM | HOWMET AEROSPACE INC | BKLJ8V2 | 136.35 | 2,001,302 | 272,877,527.70 |
3.67 | FAST | FASTENAL CO | 2332262 | 80.11 | 3,387,809 | 271,397,378.99 |
3.35 | DE | DEERE & CO | 2261203 | 460.20 | 538,493 | 247,814,478.60 |
3.20 | CRH | CRH PLC | B01ZKD6 | 93.04 | 2,543,296 | 236,628,259.84 |
3.16 | SRE | SEMPRA | 2138158 | 75.60 | 3,087,206 | 233,392,773.60 |
3.04 | PH | PARKER HANNIFIN CORP | 2671501 | 597.09 | 376,091 | 224,560,175.19 |
3.04 | TT | TRANE TECHNOLOGIES PLC | BK9ZQ96 | 351.32 | 638,661 | 224,374,382.52 |
3.00 | NSC | NORFOLK SOUTHERN CORP | 2641894 | 221.73 | 998,018 | 221,290,531.14 |
2.97 | UNP | UNION PACIFIC CORP | 2914734 | 212.61 | 1,030,652 | 219,126,921.72 |
2.86 | CSX | CSX CORP | 2160753 | 27.87 | 7,593,057 | 211,618,498.59 |
Holdings are subject to change. "Cash" denotes U.S. dollars.
As of recent month & quarter-end (Mar 31 2025) | Fund NAV | Market Price | Index |
---|---|---|---|
1 Year | -4.74% | -4.69% | -4.26% |
3 Years | 10.88% | 10.88% | 11.53% |
5 Years | 25.73% | 25.74% | 26.47% |
Since Inception | 12.80% | 12.81% | 13.41% |
Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.