PAVE is up more than 8% year-to-date. The $116.67 million ETF, which is nearly three years old, holds 93 stocks and over 93% of those holdings hail from the industrial and materials sectors. Infrastructure needs remain dire and obvious, but this is one issue the split Congress could come together on.
“We view mixed control of Congress as a positive for infrastructure. Increased infrastructure funding is a relatively easier issue for which to find bipartisan support than legislation regarding other issues like healthcare or immigration reform. In fact, following the results of the midterm elections, leaders of all three bodies–President Donald Trump, House Speaker Nancy Pelosi, and Senate Majority Leader Mitch McConnell–discussed infrastructure positively,” according to Morningstar.
Investors added $109.22 million to PAVE last year.
For more information on the infrastructure sector, visit our infrastructure category.
