NFRA vs PAVE: holdings overlap, shared companies and scores
As of September 11, 2026, NFRA and PAVE overlap 5.7% by weight. Northern Trust STOXX Global Broad Infrastructure ETF (NFRA): Global infrastructure companies. Global X - U.S. Infrastructure Development ETF (PAVE): U.S. infrastructure developers.
Updated September 11, 2026
How much do NFRA and PAVE overlap?
As of September 11, 2026, NFRA and PAVE overlap 5.7% by weight.
6% of NFRA is already inside PAVE.
12% of PAVE is already inside NFRA.
NFRA holds 169 companies and PAVE holds 100; 4 are in both.
Computed by ETF Copilot from both funds' holdings rather than quoted from a data provider, and rebuilt nightly.
How does ETF Copilot score NFRA and PAVE?
As of September 11, 2026, ETF Copilot scores NFRA 4.1 out of 10 and PAVE 4.2 out of 10.
They differ most on Risk: NFRA 9.2 and PAVE 3.6.
The five factor scores behind them are set out below, 0–10 and higher is better, ranked against every US equity ETF we track.
| Factor | NFRA | PAVE |
|---|---|---|
| Growth | 0.5 | 4.3 |
| Valuation | 5.5 | 1.8 |
| Risk | 9.2 | 3.6 |
| Quality | 6.0 | 2.2 |
| Return | 2.0 | 7.4 |
PAVE is the cheaper of the two at 0.47% a year
As of September 11, 2026, NFRA charges 0.48% a year, yields 2.93% and holds $3.1B in assets across 169 positions.
As of September 11, 2026, PAVE charges 0.47% a year, yields 1.07% and holds $13.8B in assets across 100 positions.
| Measure | NFRA | PAVE |
|---|---|---|
| Expense ratio | 0.48% | 0.47% |
| Dividend yield | 2.93% | 1.07% |
| Assets under management | $3.1B | $13.8B |
| Holdings | 169 | 100 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Where NFRA and PAVE trade against their own history
NFRA trades at 16.6 times earnings, against its own median of 16.4, and is more expensive than 57% of its own 114 monthly readings since 2017.
PAVE trades at 27.2 times earnings, against its own median of 18.6, and is more expensive than 89% of its own 114 monthly readings since 2017.
What moved PAVE this week
PAVE fell 1.1% in the week to September 11, 2026. The holdings that moved it most were Howmet Aerospace (−11.9%), CRH (−3.8%) and Amrize (−7.9%); Eaton (+7.1%) pushed the other way.
What do NFRA and PAVE each hold?
What's inside NFRA: Tech 1%, AI 0%.
31% of NFRA is its ten largest holdings.
What's inside PAVE: Tech 4%.
32% of PAVE is its ten largest holdings.
Compare with similar funds
Cite this
ETF Copilot, “NFRA vs PAVE holdings overlap and scores”, as of September 11, 2026.
https://etf-copilot.com/compare/nfra-vs-pave
- Northern Trust STOXX Global Broad Infrastructure ETF (NFRA)
- Global X - U.S. Infrastructure Development ETF (PAVE)
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