IPAV
Global X Infrastructure Development ex-U.S. ETF
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 5.5 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
| Inception date | Aug 27, 2024 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ARCELORMITTAL SA | 3.7 % |
| CANADIAN NATL RAILWAY CO | 3.4 % |
| CANADIAN PACIFIC KANSAS CITY LTD | 3.3 % |
| FUJIKURA LTD | 3.3 % |
| LARSEN & TOUBRO LIMITED | 3.2 % |
| NIPPON STEEL CORP | 3.1 % |
| HOLCIM LTD-REG | 3.0 % |
| HEIDELBERGCEMENT AG | 3.0 % |
| VINCI SA | 2.9 % |
| GRUPO FERROVIAL | 2.7 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 202 |
| Wgt avg mkt cap (mns) | $29,815 |
| Large cap (>$10bn) | 69.7% |
| Mid cap ($2-10bn) | 26.5% |
| Small cap (<$2bn) | 2.2% |
| Developed mkts. | 62.0% |
| Emerging mkts. | 37.9% |
Sector Breakdown
Country Exposure
 |
INDIA | 19.7 % |
 |
JAPAN | 13.4 % |
 |
CANADA | 8.3 % |
 |
SOUTH KOREA | 8.1 % |
 |
SPAIN | 6.5 % |
 |
FRANCE | 6.0 % |
 |
ITALY | 4.7 % |
 |
LUXEMBOURG | 4.1 % |
 |
BRAZIL | 3.4 % |
 |
SWITZERLAND | 3.0 % |
Historical Performance
Standardized Performance (as of 08/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 8.9% | 15.8% | 13.5% | -- | -- | -- | -- | 13.7% |
| Dividend Yield | 0.8% | 1.8% | 1.3% | -- | -- | -- | -- | 1.3% |
| Total Returns | 9.7% | 17.6% | 14.8% | -- | -- | -- | -- | 15.1% | Ann. Volatility | 21.4% | 18.5% | 18.3% | -- | -- | -- | -- | 18.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.11 | 59% |
| MSCI EAFE | 1.06 | 79% |
| MSCI Emg Mkts | 0.63 | 70% |
Liquidity Measures
| Avg. volume (000) | 1 |
| ADV traded (mns) | $0 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.39% |
Technical Indicators
| 30d moving avg. (EMA) | $32.04 |
| Relative strength (RSI) | 53 |
| MACD/Signal | 0.22/0.08 |
| Bollinger Bands (Upper/Lower) | $33.17/$30.43 |
| Short interest (% of AUM) | 12.0% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. IPAV |
Expenses vs. IPAV |
ALTAR Score™ vs. IPAV |
|---|---|---|---|---|
| SLX | VanEck Steel ETF | 11.0% | +1 bp | +2.4% |
Risk and Returns: IPAV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/6/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
5.7%
ALTAR SCORE™
70th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 734 funds in the Global Equity category with an average
ALTAR Score™ of 4.3% and a standard deviation
of 2.6%. IPAV's ALTAR Score™ is approximately 0.5 standard
deviations above the category average. This places IPAV in the 70th percentile
among funds in the category.
Sell-Side Consensus
$36.24
PRICE TARGET
+11.6%
UPSIDE