IPAV
Global X Infrastructure Development ex-U.S. ETF
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
2.3 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
| Fund sponsor | Global X |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 27, 2024 |
| Assets (mns) | $2 |
| Expense ratio | 55 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ULTRATECH CEMENT LTD | 3.3 % |
| GRUPO FERROVIAL | 3.2 % |
| LARSEN & TOUBRO LIMITED | 3.2 % |
| TATA STEEL LTD | 3.1 % |
| HEIDELBERGCEMENT AG | 3.1 % |
| TENARIS SA-ADR | 3.0 % |
| KOMATSU LTD | 3.0 % |
| CELLNEX TELECOM S.A. | 3.0 % |
| HOLCIM LTD-REG | 3.0 % |
| PRYSMIAN SPA | 2.9 % |
Constituent Breakdown
| Number of holdings | 97 |
| Herfindahl-Hirschman Index | 203 |
| Wgt avg mkt cap (mns) | $23,867 |
| Large cap (>$10bn) | 62.8% |
| Mid cap ($2-10bn) | 34.2% |
| Small cap (<$2bn) | 3.0% |
| Developed mkts. | 66.4% |
| Emerging mkts. | 33.6% |
Country Exposure
 |
INDIA | 22.8 % |
 |
JAPAN | 13.1 % |
 |
CANADA | 7.6 % |
 |
SPAIN | 7.5 % |
 |
FRANCE | 6.7 % |
 |
LUXEMBOURG | 5.7 % |
 |
ITALY | 5.5 % |
 |
SOUTH KOREA | 4.6 % |
 |
SWITZERLAND | 4.6 % |
 |
SWEDEN | 3.7 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | -- | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $1,765 |
Technical Indicators
| Recent close | $23.18 |
| 30d moving avg. | $24.32 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 0 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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 |
|---|---|---|---|---|
| ICOW | Pacer Developed Markets International Cash Cows 100 ETF | 11.0% | +10 bp | +3.4% |
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.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 12/18/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
IPAV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
IPAV
9.9%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 375 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.8%. IPAV's ALTAR Score™ is approximately
1.2 standard deviations
above
the category average. This places IPAV in the 88th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
IPAVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| IPAV (55 bp) Percentile rank | 50 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IPAV | 55.0 | 0.0 | 55 |
| Peer Avg. | 51.4 | 32.7 | 84.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .