GII
SPDR S&P Global Infrastructure ETF
The SPDR FTSE/Macquarie Global Infrastructure 100 ETF, before expenses, seeks to closely match the returns and characteristics of the total return performance of the Macquarie Global Infrastructure 100 Index, an equity index based upon the global infrastructure industry market.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
40 bp
EXPENSES
$411.1 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | State Street Global Advisors |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 25, 2007 |
| Assets (mns) | $411 |
| Expense ratio | 40 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NEXTERA ENERGY GROUP | 5.5 % |
| AENA SA | 5.0 % |
| TRANSURBAN GROUP | 4.7 % |
| ENBRIDGE INC | 4.1 % |
| SOUTHERN CO | 3.4 % |
| DUKE ENERGY CORP | 3.2 % |
| GRUPO AEROPORTUARIO PAC-ADR | 2.9 % |
| IBERDROLA SA | 2.8 % |
| WILLIAMS COS INC | 2.8 % |
| AUCKLAND INTL AIRPORT LTD | 2.8 % |
Constituent Breakdown
| Number of holdings | 72 |
| Herfindahl-Hirschman Index | 247 |
| Wgt avg mkt cap (mns) | $38,529 |
| Large cap (>$10bn) | 70.7% |
| Mid cap ($2-10bn) | 27.4% |
| Small cap (<$2bn) | 1.9% |
| Developed mkts. | 90.5% |
| Emerging mkts. | 9.5% |
Country Exposure
 |
UNITED STATES | 42.1 % |
 |
AUSTRALIA | 8.5 % |
 |
CANADA | 8.0 % |
 |
SPAIN | 7.8 % |
 |
MEXICO | 6.5 % |
 |
FRANCE | 6.1 % |
 |
NEW ZEALAND | 2.8 % |
 |
HONG KONG | 2.6 % |
 |
ITALY | 2.6 % |
 |
CHINA | 2.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -0.4% | 2.1% | 2.6% | 3.5% | 2.8% | 3.5% | 3.6% | Volatility | 12.0% | 13.3% | 15.6% | 14.8% | 21.0% | 17.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.76 | 65% |
| MSCI EAFE | 0.89 | 83% |
| MSCI Emg Mkts | 0.70 | 53% |
Liquidity Measures
| Avg. volume (000) | 59 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.12% |
| ADV of underlying (mns) | $13,597 |
Technical Indicators
| Recent close | $55.93 |
| 30d moving avg. | $55.67 |
| Annualized volatility | 16.9% |
| Relative strength (RSI) | 54 |
| Short interest (ETF) | 1.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GII |
Expenses vs. GII |
ALTAR Score™ vs. GII |
|---|---|---|---|---|
| IGF | iShares Global Infrastructure ETF | 98.9% | +1 bp | 0.0% |
| JXI | iShares Global Utilities ETF | 38.9% | +3 bp | +1.5% |
| TOLZ | ProShares DJ Brookfield Global Infrastructure ETF | 38.3% | +6 bp | +0.5% |
| NFRA | FlexShares STOXX Global Broad Infrastructure Index Fund | 34.0% | +7 bp | +0.9% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 31.4% | +5 bp | +1.0% |
| FUTY | Fidelity MSCI Utilities Index ETF | 29.9% | -32 bp | +1.2% |
| IDU | iShares U.S. Utilities ETF | 29.9% | 0 bp | +0.5% |
| XLU | Utilities Select Sector SPDR Fund | 29.9% | -31 bp | +1.1% |
| VPU | Vanguard Utilities ETF | 29.9% | -30 bp | +1.2% |
| RSPU | Invesco S&P 500 Equal Weight Utilities ETF | 27.4% | 0 bp | +1.2% |
Risk and Returns: GII 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.
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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
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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 7/25/2024
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
GII
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
GII
4.8%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.8% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. GII's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places GII in the 57th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
GII
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| GII (40 bp) Percentile rank | 19 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GII | 40.0 | 12.0 | 52 |
| Peer Avg. | 51.3 | 36.4 | 87.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .