PAVE Fees and Costs — Global X U.S. Infrastructure Development ETF
Data updated: 2026-07-29
The net expense ratio is 0.47%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $485K in broker commissions, 0.0055% of average net assets, and portfolio turnover was 10%.
PAVE Fees and Expenses
Annual operating expenses and sales charges of PAVE. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.47% |
| Fee waiver | — |
| Net expense ratio | 0.47% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PAVE Costs Over Time
On $10,000 invested in PAVE, assuming 5% a year before costs, total costs come to $301 over 5 years, cutting the return by 0.50% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.47%) | $49 | $155 | $270 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $8 | $27 |
| Total costs | $50 | $164 | $301 |
| Value after costs | $10,450 | $11,412 | $12,462 |
| Impact on return, per year | 0.50% | 0.50% | 0.50% |
PAVE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0055%
- Total broker commissions: $485K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 10%
- Securities on loan, average value: $3.9M
- Net income from securities lending: $281K (0.003% of average net assets)
PAVE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES LLC | $419K | 86.37% |
| SUSQUEHANNA INVESTMENT GROUP | $19K | 3.89% |
| CITIGROUP | $19K | 3.85% |
| BTIG LLC | $9K | 1.93% |
| MIZUHO SECURITIES USA INC | $8K | 1.56% |
| JP MORGAN | $5K | 0.99% |
| MACQUARIE CAPITAL | $2K | 0.51% |
| OLD MISSION MARKETS LLC CTM | $2K | 0.49% |
| MISCHLER FINANCIAL | $2K | 0.41% |
| GOLDMAN SACHS & CO | $43 | 0.01% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.