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IPAV

Infrastructure Development ex-U.S. ETF

Reasons to Consider IPAV

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Compelling Need

Aging infrastructure is a prevalent concern around the world. Global infrastructure development is essential to support growing populations, cutting-edge technologies, and to address net-zero emissions targets.

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Multiple Long-Term Catalysts

With nearly 70% of the global population forecasted to reside in cities by 2050, governments will likely need to invest heavily in a wide range of infrastructure.1

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Unconstrained Approach

IPAV seeks to capture infrastructure development trends by investing in companies outside of the U.S. that are part of the infrastructure theme, regardless of sector or industry classification.

1World Bank Group, Apr 2023

Key Information

As of Jun 12 2025
Inception Date
08/27/24
Total Expense Ratio
0.56%
Net Assets
$5.34 million
NAV
$26.69
Fact Sheet

ETF Summary

The Global X Infrastructure Development ex-U.S. ETF (IPAV) seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in international markets, including emerging and developed markets but excluding the United States. This includes companies that are involved in engineering and construction services, the production of infrastructure raw materials and composites, heavy construction equipment, infrastructure transportation, and smart grid components.

ETF Objective

The Global X Infrastructure Development ex-U.S. ETF (IPAV) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Global X Infrastructure Development ex-U.S. Index.

Trading Details

As of Jun 12 2025
Ticker
IPAV
Bloomberg Index Ticker
GXIPAVUN
CUSIP
37960A446
ISIN
US37960A4461
Primary Exchange
Cboe
Shares Outstanding
200,000
Number of Holdings
100
30-Day Median Bid-Ask Spread
0.41%

Distributions

As of Jun 12 2025
30-Day SEC Yield
0.51%
Distribution Frequency
Semi-Annually

ETF Prices

As of Jun 12 2025
NAV$26.69Daily Change-$0.06-0.22%
Market Price$26.84Daily Change$0.000.00%

Performance History

Fund NAVMarket PriceIndex
Year-to-Date4.73%5.69%4.86%
1 Month2.55%2.92%2.52%
3 Months4.73%5.69%4.86%
Since Inception-2.44%-1.63%-2.14%

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Top Holdings

As of Jun 12 2025
Net Assets (%)TickerNameSEDOLMarket Price ($)Shares HeldMarket Value ($)
3.20PRY IMPRYSMIAN SPAB1W4V6966.342,575170,837.53
3.14005490 KSPOSCO HOLDINGS INC6693233195.39858167,641.02
3.056301 JPKOMATSU LTD649658430.815,286162,858.29
3.04HOLN SWHOLCIM LTD7110753117.401,381162,122.93
3.03CLNX SMCELLNEX TELECOM SABX90C0538.284,220161,542.56
3.03FER SMFERROVIAL SEBRS7CF051.793,118161,467.02
3.02DG FPVINCI SAB1XH026146.111,103161,163.17
2.965401 JPNIPPON STEEL CORP664256919.977,921158,221.64
2.94HEI GRHEIDELBERG MATERIALS AG5120679207.91755156,969.20
2.93LT INLARSEN & TOUBRO LTDB0166K842.103,719156,573.70

Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure

As of May 31 2025
SectorWeight (%)
Materials46.8
Industrials46.0
Communication Services5.3
Utilities0.9
Energy0.8
Real Estate0.3

Source: AltaVista Research, LLC

All Sector, Industry and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.

ETF Characteristics

As of Jun 12 2025
Return on Equity8.70%
Weighted Avg. Market Cap23,421 M
20242025
Price-to-earnings17.4314.51
Price-to-book value1.301.23

ETF Research

Introducing IPAV: The Case for International Infrastructure Development

ETF Documents

Fact Sheet
Index Methodology Summary
Proxy Voting
Thematic Adoption Menu

Prospectus & Regulatory Information

Summary Prospectus
Statutory Prospectus
Statement of Additional Information
Annual Financial Statements*
Tailored Shareholders Report
Q1 Complete Holdings
Q3 Complete Holdings

* The financial statements include the Fund’s disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.