# IPAV (Global X Infrastructure Development ex-U.S. ETF)

Global X · Thematic ETFs · data as of Sep 11, 2026

IPAV holds 102 stocks, and 100% of its weight is outside the S&P 500.

## Key facts

- IPAV, already in the S&P 500: 0.0%, as of Sep 11, 2026.
- IPAV, active share vs the S&P 500: 100.0%, as of Sep 11, 2026.
- IPAV, top ten holdings: 31.3%, as of Sep 11, 2026.
- IPAV, total return, 1 year: +14.3%, as of Sep 11, 2026.
- IPAV, net assets: $5m (the issuer own daily fund list, as of Sep 11, 2026).
- IPAV, expense ratio: 0.55% (485BPOS XBRL, Mar 27, 2026).

## IPAV over each window to Sep 11, 2026

| Window | Total return | S&P 500 | Gap to S&P 500 | Gap to Nasdaq-100 |
| --- | --- | --- | --- | --- |
| 3 months | −2.6% | +3.3% | −5.9 pts | −1.8 pts |
| 6 months | +7.7% | +16.0% | −8.3 pts | −13.0 pts |
| 1 year | +14.3% | +17.5% | −3.3 pts | −8.7 pts |
| Since launch | +32.5% | +40.1% | −7.6 pts | −20.7 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Theme | Infrastructure | ETFIQ, editorial |
| Launched | Aug 28, 2024 | ETFIQ |
| Already in the S&P 500, by weight | 0.0% | ETFIQ |
| Active share vs the S&P 500 | 100.0% | ETFIQ |
| Already in the Nasdaq-100, by weight | 0.0% | ETFIQ |
| Active share vs the Nasdaq-100 | 100.0% | ETFIQ |
| Top ten holdings weight | 31.3% | ETFIQ |
| Holdings | 102 | ETFIQ |
| Holdings as of | Sep 11, 2026 | the issuer’s daily file |
| Top holdings | 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% | ETFIQ |
| Net assets | $5m | the issuer own daily fund list, as of Sep 11, 2026 |
| Below its all-time high | −8.5% | ETFIQ |
| Expense ratio | 0.55% | 485BPOS XBRL, Mar 27, 2026 |
| Fee for the part that differs from the S&P 500, active expense ratio | 0.55% | ETFIQ |
| Closest funds by holdings overlap | SLX 16% | ETFIQ |

## Questions

### How much of IPAV is in S&P 500 companies?

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.

### What does IPAV hold?

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%.

### Has IPAV beaten the S&P 500?

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.

### What does IPAV cost?

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%.


## Cite this page

ETFIQ, IPAV, data as of Sep 11, 2026. https://etfiq.com/funds/ipav
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/ipav  ·  JSON: https://etfiq.com/funds/ipav.json