PAVE vs SPMD overlap - what they share and where they differ
PAVE and SPMD share 11.2% of their weight across 30 common positions, read from what each fund reported to the SEC.
Each week Ploutos reads the reported positions of the largest US equity ETFs and measures, pair by pair, the weight they share: for every stock both funds hold, the smaller of the two weights counts. Two funds tracking the same index land near 100%. A sector fund inside a broad index fund lands at roughly that sector's weight.
PAVE and SPMD
11.2%
30 shared positions
PAVE
Global X U.S. Infrastructure Development ETF
Reported positions cover 100% of the fund, 100 positions · May 31, 2026
Top 10: 32.3%·Holdings of PAVE
SPMD
State Street(R) SPDR(R) Portfolio S&P 400(TM) Mid Cap ETF
Reported positions cover 100% of the fund, 400 positions · Jun 30, 2026
Top 10: 7.7%·Holdings of SPMD
Reported positions cover PAVE 100%, SPMD 100% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
SPMD vs PAVE side by side
PAVEGlobal X U.S. Infrastructure Development ETF
100
stock positions reported to the SEC
78.1% of its weight is in 70 names SPMD does not hold
SPMDState Street(R) SPDR(R) Portfolio S&P 400(TM) Mid Cap ETF
400
stock positions reported to the SEC
88.6% of its weight is in 370 names PAVE does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Basic Materials: PAVE has 30.2 points more of it.
The figures side by side
| PAVE | SPMD | |
|---|---|---|
| Filing date | May 31, 2026 | Jun 30, 2026 |
| Stock positions reported | 100 | 400 |
| Weight of the ten largest | 32.3% | 7.7% |
| Largest position | PWR 4.2% | TWLO 0.9% |
| Held alone | 70 positions, 78.1% | 370 positions, 88.6% |
| Covered by stock positions | 100% | 100% |
Holdings they share
| Stock | In PAVE | In SPMD | Counted |
|---|---|---|---|
| CRSCARPENTER TECHNOLOGY CORPORATION | 1.27% | 0.84% | 0.84% |
| ATIATI INC | 1.29% | 0.74% | 0.74% |
| MTZMASTEC, INC. | 1.62% | 0.71% | 0.71% |
| STRLSTERLING INFRASTRUCTURE, INC. | 1.43% | 0.71% | 0.71% |
| WWDWOODWARD, INC. | 1.14% | 0.70% | 0.70% |
| RBCRBC BEARINGS INCORPORATED | 0.98% | 0.56% | 0.56% |
| RSRELIANCE, INC. | 1.08% | 0.53% | 0.53% |
| WCCWESCO INTERNATIONAL, INC. | 0.95% | 0.46% | 0.46% |
| RRXRegal Rexnord Corporation | 0.73% | 0.44% | 0.44% |
| DYDYCOM INDUSTRIES, INC. | 0.80% | 0.42% | 0.42% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in PAVE
Only in SPMD
Questions people ask
Is PAVE the same as SPMD?
11.2% of their weight sits in the same 30 holdings. PAVE also reports PWR, CSX, EATON CORPORATION PUBLIC LIMITED COMPANY, which the other does not. SPMD also reports TWLO, MKSI, CW, which the other does not.
How is the overlap between PAVE and SPMD measured?
For every stock both funds report, the smaller of the two weights counts, and the sum is the overlap. The reported positions cover 100% of PAVE and 100% of SPMD, so the number cannot exceed the smaller coverage.
Which holds more, SPMD or PAVE?
PAVE reports 100 stock positions and SPMD reports 400. 78.1% of PAVE's weight sits in names SPMD does not hold, and 88.6% of SPMD's weight in names PAVE does not hold. The ten largest positions are 32.3% of PAVE and 7.7% of SPMD.
How do PAVE and SPMD differ by sector?
The widest gap is Basic Materials: PAVE has 30.2 points more of it. Sectors come from each holding's SIC code in its SEC record, summed by the weight the fund reports.
Where do the numbers come from?
From each fund's own N-PORT filing to the SEC, which lists every position and its weight. The comparison uses every equity position the fund reports; cash, futures and bonds are not counted, which is why a coverage figure sits next to every result. Holdings change between filings.
Other pairs with these funds
SPMD against other funds in the table
Add a third fund in the tool·All fund pairs
Descriptive data from public SEC filings. Nothing on this page is a recommendation to buy, sell or hold any fund or stock, and holdings change between filings.