# Global X U.S. Infrastructure Development UCITS ETF AccumUSD (PAVE) **Page:** https://fundology.uk/fund/pave · ISIN IE00BLCHJ534 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, PAVE (Global X U.S. Infrastructure Development UCITS ETF AccumUSD, ISIN IE00BLCHJ534) closed at $49.64 on the London Stock Exchange. Its ongoing charge is 0.47% a year (about £47 on £10,000). Over the five years to 13/11/2026 its price changed by +92.0%, or +49.9% after UK CPIH inflation. ## Summary Global X U.S. Infrastructure Development UCITS ETF AccumUSD is an exchange-traded fund (ETF) from Global X, launched in 2021. It tracks the Indxx U.S. Infrastructure Development V2 Index - Benchmark TR Gross. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.47% a year — about £47 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **$49.64** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | PAVE | | ISIN | IE00BLCHJ534 | | Also listed as | 94VE (Xetra, euros) | | Category | Property & infrastructure | | Type | ETF | | Provider | Global X | | Tracks | Indxx U.S. Infrastructure Development V2 Index - Benchmark TR Gross | | Income | Accumulating | | Ongoing charge | 0.47% a year (£47 per £10,000) | | Fund size | £574m | | Launched | 2021 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 02/11/2021 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +11.36% | +7.42% | income reinvested | | 3 years | +61.79% | +46.17% | income reinvested | | 5 years | +92.01% | +49.87% | price only | Returns: as reported (delayed data) and worked out from recorded daily closes. Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Global X U.S. Infrastructure Development UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund): 2022 +5.0%, 2023 +24.4%, 2024 +20.7%, 2025 +11.4%; 2026 to 13/11/2026 +10.9%. Returns of Global X U.S. Infrastructure Development UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +12.2%; to 30/09/2025: +16.4%; to 30/09/2024: +24.4%; to 30/09/2023: +18.0%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | +5.0% | -3.9% | Price | | 2023 | +24.4% | +19.5% | Price | | 2024 | +20.7% | +16.6% | Price | | 2025 | +11.4% | +7.5% | Price | | 2026 to 13/11/2026 | +10.9% | +7.4% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 20.36% | -14.39% | | 3 years | 19.84% | -26.23% | | 5 years | 19.89% | -26.23% | ## Largest fall Volatility of Global X U.S. Infrastructure Development UCITS ETF AccumUSD in pounds, annualised from weekly returns to 13/11/2026: 20.4% over 1 year, 19.8% over 3 years, 19.9% over 5 years. Largest fall in the price of Global X U.S. Infrastructure Development UCITS ETF AccumUSD since November 2021, in pounds: −26.2% from 22/11/2024 to 04/04/2025. The lowest 12-month return of Global X U.S. Infrastructure Development UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) since November 2021 was −14.8% (12 months to 04/04/2025); the highest was +52.0% (12 months to 10/04/2026). On 13/11/2026 the price of Global X U.S. Infrastructure Development UCITS ETF AccumUSD was 10.1% below its highest weekly close since November 2021 (26/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Global X U.S. Infrastructure Development UCITS ETF AccumUSD 0.47% a year. Compared on 14/11/2026, 17 of the 45 other property and infrastructure funds charge more, 3 the same and 25 less (share classes counted once). ## Funds tracking the same index 2 funds track Indxx U.S. Infrastructure Development V2 Index - Benchmark TR Gross, this one included and share classes counted once; their ongoing charges range from 0.47% to 0.47% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Global X U.S. Infrastructure Development UCITS ETF AccumUSD (this fund) | 0.47% | +11.4% | +61.8% | — | | Global X U.S. Infrastructure Development UCITS ETF USD | 0.47% | +10.9% | +65.0% | — | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.47%** per year (as of 13/11/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## Questions people ask **What is the ongoing charge of PAVE?** The ongoing charge of PAVE is 0.47% a year — about £47 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Global X U.S. Infrastructure Development UCITS ETF AccumUSD 0.47% a year. Compared on 14/11/2026, 17 of the 45 other property and infrastructure funds charge more, 3 the same and 25 less (share classes counted once). **What does PAVE track?** PAVE tracks the Indxx U.S. Infrastructure Development V2 Index - Benchmark TR Gross. **Is PAVE accumulating or distributing?** PAVE is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of PAVE?** The ISIN of PAVE is IE00BLCHJ534. An ISIN identifies one exact share class of a fund; PAVE is its ticker on the London Stock Exchange. The same share class is also listed as 94VE (Xetra, euros). **What were PAVE’s returns in each of the last five years?** Calendar-year returns of PAVE in pounds (price, with income reinvested in the fund): 2022 +5.0%, 2023 +24.4%, 2024 +20.7%, 2025 +11.4%; 2026 to 13/11/2026 +10.9%. Past performance is not a guide to future returns. **How has PAVE done after inflation?** Over the five years to 13/11/2026 PAVE’s price changed by +92.0%, or +49.9% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.