Home ETFs and Funds Analysis ETF Analysis Summary Global X US Infrastructure Development ETF is downgraded from buy to hold after strong outperformance and a valuation approaching 25x P/E. Despite bullish seasonality and robust momentum, PAVE's technicals show bearish RSI divergence and resistance at the top of its uptrend channel. The ETF's heavy Industrials and Materials exposure, plus AI/data center ties, increases risk and correlation with the S&P 500. Patience is warranted; a pullback into the low $50s could offer a better entry as fundamentals remain solid but valuation is stretched. Erik Isakson/DigitalVision via Getty Images The S&P 500 is expected to grow earnings by a whopping 23% this year.…