iShares Files For US Infrastructure ETF

Proposed fund will enter a fairly vacant space.
Reviewed by: Staff
Edited by: Staff

BlackRock’s iShares arm has filed for an ETF that will target U.S. infrastructure companies. The iShares U.S. Infrastructure ETF will track the NYSE FactSet U.S. Infrastructure Index.

The fund’s benchmark will divide its component list into two categories: infrastructure enablers (Category 1), and infrastructure asset owners and operators (Category 2). The two groups will each be weighted at 50% of the index upon rebalancing, with each category’s individual components also equally weighted, according to the prospectus.

Category 1 will mainly consist of companies in construction and engineering services, machineries and materials, while Category 2 will include companies involved in energy transportation and storage, railroads and utilities, the document said.

The underlying index can include companies from across the size spectrum.

Currently, there is only one U.S.-focused infrastructure ETF. The Global X U.S. Infrastructure Development ETF (PAVE) rolled out in March and currently has less than $20 million in assets under management. BlackRock actually already has the largest infrastructure ETF, the iShares Global Infrastructure ETF (IGF), which launched a decade ago and currently has $1.9 billion in assets.

 The filing did not include a ticker, listing exchange or expense ratio.

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