PAVE vs IGF: US Growth Infrastructure vs Global Utility Infrastructure
PAVE invests in companies that build infrastructure: construction, engineering, materials. IGF invests in companies that operate infrastructure: utilities, airports, toll roads. Same theme, very different economic exposure.
PAVE (Global X US Infrastructure Development) holds roughly 100 US companies that benefit from infrastructure construction spending: materials companies, construction firms, engineering services, and industrials. IGF (iShares Global Infrastructure) holds about 75 global companies that operate infrastructure assets: utilities, airports, pipelines, and toll roads providing stable, regulated cash flows. PAVE is a growth and cyclical play on infrastructure spending bills and reshoring investment. IGF is a defensive, income-oriented play on infrastructure assets that generate utility-like returns. PAVE has delivered stronger returns in recent years as US infrastructure spending has accelerated. IGF provides more stable income (3%+ yield) with lower volatility. These two funds do not directly compete. They are different instruments for different portfolio roles.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
Both funds trade commission-free at every major brokerage. Where to buy them →
📋 PAVE vs IGF: Key Facts Side by Side
| Metric | PAVE | IGF |
|---|---|---|
| Fund Name | Global X U.S. Infrastructure Development ETF | iShares Global Infrastructure ETF |
| Issuer | Global X | iShares |
| Tracks Index | Indxx US Infrastructure Development Index | FTSE Global Core Infrastructure 50/50 |
| Expense Ratio | 0.47% | 0.37% ✓ |
| Cost per $10K/yr | $47.00 | $37.00 |
| AUM | $13.4B | $10.1B |
| Holdings | 100 | 75 |
| Inception | 2017 | 2007 |
| 1-Year Return | +11.70% | +1.38% |
| 3-Year Return | +21.41% | +17.91% |
| 5-Year Return | +16.37% | +9.47% |
| Dividend Yield | 0.82% | 3.14% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.04% | 0.06% |
AUM and returns updated Oct 14, 2026 from ETF BFF database; expense ratios verified against issuer filings. Returns are annualised. Not investment advice.
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📊 PAVE vs IGF: Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- already use Global X and prefer staying within one fund family
- want the lowest fees: saves ~$10/yr per $10K vs PAVE
- want geographic diversification beyond US stocks
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
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