London Stock Exchange ETF segment · UCITS ETF
Invest in PAVE ETF from India
Indian and foreign residents can buy Global X - U.S. Infrastructure Development UCITS ETF (PAVE) units directly through Paasa.
By Paasa · Updated
PAVE at a glance
- Price
- $49.47-$0.24 (0.47%)
- Expense ratio
- 0.47%
- Day range
- $49.31 – $50.03
- Assets
- $872.2M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2021
- Dividends
- —
- 1 month
- -4.54%
- 6 months
- +5.65%
- YTD
- +9.03%
- 1 year
- +13.43%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1QUANTA SERVICES INCPWR4.0%
- 2DEERE & CODE3.9%
- 3EATON CORP PLC0Y3K.L3.8%
- 4CSX CORPCSX3.8%
- 5UNION PACIFIC CORPUNP3.5%
- 6TRANE TECHNOLOGIES PLCTT3.4%
- 7FASTENAL COFAST3.3%
- 8NUCOR CORPNUE3.2%
- 9UNITED RENTALS INCURI3.2%
- 10NORFOLK SOUTHERN CORPNSC3.2%
These 10 are 35.3% of the fund.
Where the money is invested
Sectors
- Industrials75.8%
- Basic Materials18.7%
- Utilities3.2%
- Technology2.2%
Countries
- United States88.7%
- Ireland9.2%
- Switzerland1.2%
- United Kingdom0.5%
- Belgium0.2%
- Other0.1%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| PAVULSEGlobal X U.S. Infrastructure Development UCITS ETF USD | 0.47% | 37.1M |
Assets are shown in each fund's own reporting currency.
How to invest in PAVE from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search PAVE and buy
Find the fund by its ticker, PAVE, on the London Stock Exchange ETF segment, and place your order.
Why invest in PAVE from India
What PAVE holds
The Global X U.S. Infrastructure Development UCITS ETF (PAVE LN) is structured to replicate the financial outcomes, including both capital growth and dividends, of the Indxx U.S. Infrastructure Development v2 Index. Its core aim is to closely track the performance of this benchmark prior to the impact of any management fees or operational costs.
Outside US estate tax
PAVE is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Hold a dollar asset
PAVE is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Why PAVE's UCITS structure matters for Indian investors
PAVE is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
Capital gains are taxed in India the same way as on a US-listed ETF.
Frequently asked questions
Can I buy PAVE from India?
Yes. Indian residents can buy Global X - U.S. Infrastructure Development UCITS ETF (PAVE) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does PAVE invest in?
Its largest holdings are QUANTA SERVICES INC (4.0%), DEERE & CO (3.9%) and EATON CORP PLC (3.8%). Industrials is its largest sector at 75.8%. The fund is domiciled in Ireland.
What is the expense ratio of PAVE?
Global X - U.S. Infrastructure Development UCITS ETF has an expense ratio of 0.47% a year, taken from the fund's assets rather than billed to you. The fund manages about $872.2M.
Is PAVE a UCITS ETF, and why does that matter for Indian investors?
Yes. Global X - U.S. Infrastructure Development UCITS ETF is a UCITS fund domiciled in Ireland. Because it is domiciled outside the US, it is not a US-situs asset, so US estate tax does not apply to it. On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
What tax do I pay in India when I sell PAVE?
In India, gains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation, and gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.