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Launched

Global X Infrastructure Development ex-U.S. ETF

IPAVCboeGlobal XD

$29.89+0.53 (+1.81%)

As of Nov 2, 2026, 3:35 PM ET

D39/ 100

Rank 23 of 34 in Infrastructure

D39/100Rank 23 of 34inInfrastructure
Intraday session: up, 74 prints from 29.36 to 29.89. Range 29.60 to 30.08. Use the arrow keys to read each point.29.6029.8030.0010 AM12 PM2 PM4 PM
Expense ratio
0.55%
Fund size
$6M
1Y total return
+3.9%
Yield · Last 12 months
1.62%
Holdings
104
Avg volume · 30D
1.47K sh
52W range
low $27.96high $35.40
Launched

The ETF.net IPAV Grade

Based on 5 of 6 pillars

D

Score 39 out of 100

Category
Infrastructure⁠
Rank
23 of 34
Six-pillar profile for IPAV. Scores out of 100: Cost 53, Risk 24, Mission not scored, Tradability 15, Holdings 62, Durability 29. Strongest: Holdings (62). Weakest: Tradability (15). Based on 5 of 6 pillars.

Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C53 out of 100
    Rank 15 of 34

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F24 out of 100
    Rank 30 of 34

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F15 out of 100
    Rank 32 of 34

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B62 out of 100
    Rank 13 of 32

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D29 out of 100
    Rank 27 of 34

Our read on IPAV

ETF.net Research

In short

DMost of the world's building happens outside the United States. IPAV takes the infrastructure-development idea (contractors, materials, equipment, any sector) and points it entirely overseas, across developed and emerging markets.

Stated mandate

IPAV seeks to track, before fees and expenses, the price and yield performance of the Global X Infrastructure Development ex-U.S. Index.

Why people hold it

  • Buys the build-out chain, not the finished toll road: about 100 non-U.S. companies tied to infrastructure activity, selected regardless of sector or industry label.globalxetfs.com
  • The overseas half of a pair. Global X runs the same development-focused approach for U.S. builders in PAVE, so this one covers developed and emerging markets outside the States.globalxetfs.com
  • Rules-based, not a stock-picker's hunch: it tracks the Global X Infrastructure Development ex-U.S. Index before fees and expenses.

Worth knowing

  • 0.55% is mid-pack for thematic infrastructure, but above broad global options such as IGF at 0.37% and its U.S. sibling PAVE at 0.47%.
  • Launched in 2024 and still a small, lightly traded fund, so spreads tend to run wider than at the category's giants and the track record is short.
  • Builders and materials names skew cyclical rather than utility-like, and cash comes back once or twice a year, not monthly.globalxetfs.com

IPAV Performance

Launched Aug 27, 2024

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
IPAV$10,390
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. IPAV $10,390. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for IPAV. Periods over one year show the average yearly return.
PeriodIPAV
Year to date+0.2%
1 month−3.9%
3 months−6.3%
1 year+3.9%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IPAV
YearReturn barIPAV
2026 YTD+0.2%
2025+29.0%
2024−6.3%

History from Aug 28, 2024

IPAV in the news

IPAV Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
1.62%Last 12 months
Payout per share
$0.48Last 12 months
Last payment
$0.23 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2024–2026

One bar per payment. 4 payments from 2024 to 2026 YTD. Dec 30, 2024 $0.07; Jun 27, 2025 $0.13; Dec 30, 2025 $0.25; Jun 29, 2026 $0.23. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jul 7, 2026$0.23
Dec 30, 2025Jan 7, 2026$0.25
Jun 27, 2025Jul 7, 2025$0.13
Dec 30, 2024Jan 7, 2025$0.07

$10,000 in IPAV 1 year ago paid $166 in dividends.

IPAV Risk

Risk pillarF24 out of 100Rank 30 of 34 in Infrastructure
How much the fund’s monthly returns vary, scaled to a year.
16.8%
Annualised · 26 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.35
vs 3-month T-bills · 26 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−17.2%
26 months · trough Oct 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.80
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

IPAV Cost

Compare IPAV and IFRA

Overpaying vs IFRA, cheapest in Infrastructure

$4,755

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IPAV 0.55%

    $10,904

  • IFRA 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • IPAV 0.55%
  • IFRA 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530IPAV $10,904IFRA $6,149

Year by year

YearIPAVIFRAOverpaying
10$988$545$443
20$3,790$2,113$1,677
30$10,904$6,149$4,755

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