Global X Debuts Green Building ETF

Global X Debuts Green Building ETF

The thematic fund is the second to target sustainable building materials.

Reviewed by: Dan Mika
Edited by: Dan Mika

Global X’s latest ETF aims to track companies involved in making real estate less environmentally harmful. 

The Global X Green Building ETF (GRNR) debuted on the Nasdaq Wednesday with a 0.45% expense ratio. 

The fund tracks a custom index of companies in developed or emerging markets that produce construction materials carrying a Leadership in Energy and Environmental Design, or LEED, certification. The index also tracks firms with certifications from similar accrediting bodies for sustainable development, or ones that build and manage real estate that carry a green certification in its respective country. 

Companies are required to have a minimum of $200 million in market capitalization and meet other liquidity targets to qualify. The index limits each company to a maximum 4% weighting and rebalances semiannually. 

GRNR is a direct competitor to the $5.5 million Invesco MSCI Green Building ETF (GBLD), which is 6 basis points cheaper and has no market cap requirements. GRNR has a slightly more concentrated index of 74 holdings versus GBLD’s 91. 

The two funds have Boston Properties, Kilroy Realty Corp. and Vornado Realty Trust as the three overlapping companies among their top 10 holdings, amounting to 8.7% of GRNR’s weight and 10.84% of GBLD. 


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Dan Mika is a reporter for He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.