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Global X Infrastructure Development ex-U.S. (IPAV)
Look-through valuation · Sector · ISIN US37960A4461
Price history (since 2024)
Monthly close since 2024. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| ArcelorMittal SA MT | 3.5 % | n/a | n/a |
| Canadian National Railway Co CNR | 3.3 % | n/a | n/a |
| Fujikura Ltd. 5803 | 3.3 % | n/a | n/a |
| Nippon Steel Corp 5401 | 3.2 % | n/a | n/a |
| Larsen & Toubro Limited LT | 3.1 % | n/a | n/a |
| Vinci S.A. DG | 2.9 % | +68.0 % | 55 |
| Holcim Ltd LHN | 2.8 % | n/a | n/a |
| Doosan Heavy Ind. & Const. 034020 | 2.8 % | n/a | n/a |
| Prysmian SpA PRY | 2.7 % | −36.7 % | 59 |
| Shin-Etsu Chemical Co. Ltd. 4063 | 2.7 % | n/a | n/a |
| Heidelberg Materials AG HEI | 2.7 % | n/a | n/a |
| Ferrovial S.A. FER | 2.6 % | n/a | n/a |
| Tata Steel Limited TATASTEEL | 2.6 % | −21.7 % | 57 |
| Cellnex Telecom SA CLNX | 2.6 % | −16.7 % | 34 |
| POSCO Holdings 005490 | 2.5 % | −23.0 % | 45 |
| WEG S.A. WEGE3 | 2.4 % | n/a | n/a |
| Cemex SAB de CV ADR CX | 2.4 % | −9.4 % | 55 |
| HINDALCO INDUSTRIES LTD. HINDALCO | 2.3 % | n/a | n/a |
| UltraTech Cement Limited ULTRACEMCO | 2.1 % | −57.3 % | 55 |
| LS Electric 010120 | 1.9 % | −85.4 % | 56 |
| JSW Steel Limited JSWSTEEL | 1.9 % | −13.3 % | 52 |
| Eiffage SA FGR | 1.7 % | +122.3 % | 56 |
| AtkinsRealis Group Inc ATRL | 1.7 % | −42.9 % | 62 |
| Bluescope Steel Ltd BSL | 1.5 % | −57.7 % | 54 |
| NKT A/S NKT | 1.3 % | −18.7 % | 41 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 48 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +87.2 % below FV
- 2 FXI iShares China Large-Cap ETF +57.2 % below FV
- 3 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +43.7 % below FV
- 4 MCHI iShares MSCI China ETF +41.9 % below FV
- 5 ITB iShares U.S. Home Construction ETF +31.4 % below FV
- 6 TAN Invesco Solar ETF +26.0 % below FV
- 7 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +19.4 % below FV
- 8 FDNI First Trust Dow Jones International Internet ETF +19.3 % below FV
- 9 ESPO VanEck Video Gaming and eSports ETF +18.3 % below FV
- 10 XIDV Franklin International Dividend Booster Index ETF +17.9 % below FV
Frequently asked about IPAV
Is IPAV overvalued?
How do you calculate the fair value of an ETF?
Which stocks drive the valuation of IPAV?
How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Global X Infrastructure Development ex-U.S. ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Sep 25, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.