{
 "ticker": "IPAV",
 "name": "Global X Infrastructure Development ex-U.S. ETF",
 "issuer": "Global X",
 "desk": "themes",
 "url": "https://etfiq.com/funds/ipav",
 "html": "https://etfiq.com/funds/ipav",
 "markdown": "https://etfiq.com/funds/ipav.md",
 "as_of": "2026-09-11",
 "verdict": "IPAV holds 102 stocks, and 100% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "0.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IPAV, already in the S&P 500: 0.0%, as of Sep 11, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "100.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IPAV, active share vs the S&P 500: 100.0%, as of Sep 11, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "31.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IPAV, top ten holdings: 31.3%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "+14.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IPAV, total return, 1 year: +14.3%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$5m",
   "source": "the issuer own daily fund list, as of Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "IPAV, net assets: $5m (the issuer own daily fund list, as of Sep 11, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.55%",
   "source": "485BPOS XBRL, Mar 27, 2026",
   "as_of": "2026-09-11",
   "sentence": "IPAV, expense ratio: 0.55% (485BPOS XBRL, Mar 27, 2026)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Infrastructure",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Aug 28, 2024",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "0.0%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "100.0%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "0.0%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "100.0%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "31.3%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "102",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "Sep 11, 2026",
   "source": "the issuer\u2019s daily file"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "ARCELORMITTAL 3.6%, CANADIAN NATL RAILWAY CO 3.4%, FUJIKURA LTD 3.3%, CANADIAN PACIFIC KANSAS CITY 3.2%, LARSEN & TOUBRO LTD 3.1%, NIPPON STEEL CORP 3.1%, HOLCIM LTD 2.9%, VINCI SA 2.9%, DOOSAN ENERBILITY CO LTD 2.9%, HEIDELBERG MATERIALS AG 2.8%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$5m",
   "source": "the issuer own daily fund list, as of Sep 11, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u22128.5%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.55%",
   "source": "485BPOS XBRL, Mar 27, 2026"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.55%",
   "source": "ETFIQ"
  },
  {
   "key": "closest_funds_by_holdings_overlap",
   "label": "Closest funds by holdings overlap",
   "value": "SLX 16%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "\u22122.6%",
   "S&P 500": "+3.3%",
   "Gap to S&P 500": "\u22125.9 pts",
   "Gap to Nasdaq-100": "\u22121.8 pts"
  },
  {
   "window": "6 months",
   "Total return": "+7.7%",
   "S&P 500": "+16.0%",
   "Gap to S&P 500": "\u22128.3 pts",
   "Gap to Nasdaq-100": "\u221213.0 pts"
  },
  {
   "window": "1 year",
   "Total return": "+14.3%",
   "S&P 500": "+17.5%",
   "Gap to S&P 500": "\u22123.3 pts",
   "Gap to Nasdaq-100": "\u22128.7 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+32.5%",
   "S&P 500": "+40.1%",
   "Gap to S&P 500": "\u22127.6 pts",
   "Gap to Nasdaq-100": "\u221220.7 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of IPAV is in S&P 500 companies?",
   "a": "By its holdings published by its issuer for Sep 11, 2026, 0% of IPAV by weight is stocks the S&P 500 already holds. Its active share against the index is 100%, so that share is the part doing something different."
  },
  {
   "q": "What does IPAV hold?",
   "a": "102 positions as published by its issuer for Sep 11, 2026, with the top ten at 31% of the fund. The largest are ARCELORMITTAL at 3.6%, CANADIAN NATL RAILWAY CO at 3.4%, FUJIKURA LTD at 3.3%."
  },
  {
   "q": "Has IPAV beaten the S&P 500?",
   "a": "Over the year to Sep 11, 2026 IPAV returned +14.3% with distributions reinvested, against +17.5% for the S&P 500, so it finished behind the index by 3.2 points."
  },
  {
   "q": "What does IPAV cost?",
   "a": "The prospectus expense ratio is 0.55% a year. Because 100% of the fund differs from the S&P 500, the fee on that differing part works out at 0.55%."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}