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BKGI vs IPAV: which is really different?

BKGI holds 23.7% of its weight in S&P 500 companies and IPAV 0.0%. BNY Mellon Global Infrastructure Income ETF and Global X Infrastructure Development ex-U.S. ETF.

Both cost 0.55% a year; their one-year returns differ by 3.4 points; BKGI is far larger, $1.3bn against $5m.

BKGIIPAV
Expense ratio0.55%0.55%
Net assets, BKGI as of Jul 31, 2026 and IPAV as of Oct 8, 2026$1.3bn$5m
Total return, 1 year+10.1%+6.7%
What it tracksInfrastructureInfrastructure
Holdings in commonnot published
S&P 500, total return, 1 year+17.3%
Against the S&P 500, 1 yearbehind by 7.2 ptsbehind by 10.5 pts
Below its all-time high10.0%, high on Jul 24, 202614.3%, high on May 6, 2026
23.7%
BKGI in the S&P 500
0.0%
IPAV in the S&P 500
+10.1%
BKGI total return, 1 year
+6.7%
IPAV total return, 1 year
BKGI · 1 year to Oct 9, 202676% of its weight is outside the S&P 500
76% of its weight is outside the S&P 50024% of BKGI's weight is in S&P 500 companies and 76% is outside the index. Holdings as of Jul 31, 2026.24%76%in the S&P 500of its weight outside the S&P 500active share 99% · top ten 57% of the fund · 29 holdings as filed for Jul 31, 2026 · Nasdaq-100: 2% in76% of its weight is outside the S&P 50024% of BKGI's weight is in S&P 500 companies and 76% is outside the index. Holdings as of Jul 31, 2026.24%76%inoutside the S&P 500active share 99% · Nasdaq-100: 2% in

24% of BKGI's weight is in S&P 500 companies and 76% is outside the index. Holdings as of Jul 31, 2026.

IPAV · 1 year to Oct 9, 2026100% of its weight is outside the S&P 500
100% of its weight is outside the S&P 5000% of IPAV's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 8, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · top ten 31% of the fund · 100 holdings as published by its issuer for Oct 8, 2026 · Nasdaq-100: 0% in100% of its weight is outside the S&P 5000% of IPAV's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 8, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · Nasdaq-100: 0% in

0% of IPAV's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 8, 2026.

ETFIQ Off-Index Score · IPAV scores higherHow much of it is not the index it is sold as an alternative to?
0.1, the lowest in this set92.3, the highest

A percentile among the 391 thematic ETFs with a holdings filing. All thematic ETFs ranked by it → How it is computed →

Performance, window by window

Total returnvs the S&P 500vs the Nasdaq-100
WindowBKGIIPAVBKGIIPAVBKGIIPAV
3 months−6.9%−5.1%−10.3 pts−8.5 pts−10.5 pts−8.7 pts
6 months−8.0%−7.1%−23.1 pts−22.3 pts−31.2 pts−30.3 pts
1 year+10.1%+6.7%−7.2 pts−10.5 pts−13.5 pts−16.9 pts
3 years+77.7%not published−8.1 ptsnot published−29.6 ptsnot published
Since launch
BKGI Nov 2022 · IPAV Aug 2024
+92.6%+24.2%−28.4 pts−18.9 pts−102.7 pts−37.0 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

BKGI
BNY Mellon Global Infrastructure Income ETF · Holds 29 stocks in infrastructure, 24% of its weight in S&P 500 companies
IPAV
Global X Infrastructure Development ex-U.S. ETF · Holds 100 stocks in infrastructure, 0% of its weight in S&P 500 companies
Issuer BNY Mellon Global X
Theme Infrastructure Infrastructure
In the S&P 500 23.7% 0.0%
Active share vs the S&P 500 99.4% 100.0%
In the Nasdaq-100 1.7% 0.0%
Holdings 29 100
Top ten, share of the fund 57.2% 31.1%
Expense ratio 0.55% 0.55%
Fee for the differing part 0.55% 0.55%
Total return, 1 year +10.1% +6.7%
vs the S&P 500 −7.2 pts −10.5 pts
vs the Nasdaq-100 −13.5 pts −16.9 pts
Below its high −10.0% −14.3%
Net assets, BKGI as of Jul 31, 2026 and IPAV as of Oct 8, 2026 $1.3bn $5m

As of Oct 9, 2026. Source: ETFIQ.

BKGI in plain words

By weight, 24% of BKGI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 57% of the fund across 29 positions, as filed for Jul 31, 2026. Over the year to Oct 9, 2026 the fund returned +10.1% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 7.2 pts. It sits 10.0% below its all-time high of Jul 24, 2026.

IPAV in plain words

By weight, 0% of IPAV's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 31% of the fund across 100 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +6.7% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 10.5 pts. It sits 14.3% below its all-time high of May 6, 2026.

Questions people ask

Which is more different from the S&P 500, BKGI or IPAV?
BKGI has 24% of its weight in S&P 500 names and IPAV has 0%, so IPAV differs more from the index.
Which is cheaper, BKGI or IPAV?
BKGI and IPAV both charge 0.55% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
BKGI vs EFRABKGI vs GLIXBKGI vs RBLDBKGI vs UPGRIPAV vs NGIFIPAV vs NFRAIPAV vs PAVEIPAV vs NFRX
BKGI on its own →IPAV on its own →How every figure is computed →Standards and sources →
Where these figures came from
BKGI filings on SEC EDGAR ↗BKGI prospectus with the expense ratio (SEC) ↗BNY Mellon website ↗IPAV filings on SEC EDGAR ↗IPAV prospectus with the expense ratio (SEC) ↗Global X page for IPAV ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

It is a position in a set, not a rating, and neither end of it is a recommendation.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this page

ETFIQ, BKGI against IPAV, data as of Oct 9, 2026. https://etfiq.com/compare/themes/bkgi-vs-ipav

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.