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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 | 3.7 % | n/a | n/a |
| Canadian National Railway Co CNR | 3.4 % | n/a | n/a |
| Fujikura Ltd. 5803 | 3.3 % | n/a | n/a |
| Larsen & Toubro Limited LT | 3.2 % | n/a | n/a |
| Nippon Steel Corp 5401 | 3.1 % | n/a | n/a |
| Holcim Ltd LHN | 3.0 % | n/a | n/a |
| Heidelberg Materials AG HEI | 3.0 % | n/a | n/a |
| Vinci S.A. DG | 2.9 % | +67.9 % | 55 |
| Ferrovial S.A. FER | 2.7 % | n/a | n/a |
| POSCO Holdings 005490 | 2.6 % | −29.2 % | 45 |
| Tata Steel Limited TATASTEEL | 2.6 % | −22.2 % | 57 |
| Shin-Etsu Chemical Co. Ltd. 4063 | 2.6 % | n/a | n/a |
| Cellnex Telecom SA CLNX | 2.6 % | −14.2 % | 34 |
| Prysmian SpA PRY | 2.5 % | −31.9 % | 59 |
| Cemex SAB de CV ADR CX | 2.5 % | +4.2 % | 55 |
| Doosan Heavy Ind. & Const. 034020 | 2.5 % | n/a | n/a |
| WEG S.A. WEGE3 | 2.4 % | n/a | n/a |
| HINDALCO INDUSTRIES LTD. HINDALCO | 2.4 % | n/a | n/a |
| UltraTech Cement Limited ULTRACEMCO | 2.2 % | −57.0 % | 55 |
| JSW Steel Limited JSWSTEEL | 1.9 % | −12.6 % | 52 |
| Eiffage SA FGR | 1.7 % | +119.4 % | 56 |
| LS Electric 010120 | 1.7 % | −85.6 % | 56 |
| AtkinsRealis Group Inc ATRL | 1.6 % | −41.7 % | 62 |
| Bluescope Steel Ltd BSL | 1.6 % | −78.9 % | 54 |
| NKT A/S NKT | 1.2 % | −11.7 % | 41 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 49 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 CHIQ Global X MSCI China Consumer Disc ETF +66.3 % below FV
- 2 CHIU Global X MSCI China Utilities ETF +63.9 % below FV
- 3 FXI iShares China Large-Cap ETF +58.8 % below FV
- 4 KWEB KraneShares CSI China Internet ETF +38.6 % below FV
- 5 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +33.7 % below FV
- 6 MCHI iShares MSCI China ETF +30.6 % below FV
- 7 ITB iShares U.S. Home Construction ETF +21.3 % below FV
- 8 TAN Invesco Solar ETF +17.1 % below FV
- 9 BRAZ Global X Brazil Active ETF +16.0 % below FV
- 10 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +9.3 % 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 11, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.