NEW YORK (TheStreet) -- Infrastructure has been a burgeoning theme in the last few years, spawning numerous exchange traded funds looking to capitalize on plans to expand and modernize highways and transportation systems in emerging markets.

While several ETFs target infrastructure, they usually have distinct strategies that can generate wildly different results. That means investors have to look more closely at the funds' holdings before they buy.

The differences among infrastructure funds illustrates what can happen if you don't do your due diligence. Among two of the popular funds, the PowerShares Emerging Markets Infrastructure Portfolio (PXR Quote) has returned 39% this year, while the SPDR FTSE/Macquarie Global Infrastructure 100 ETF(GII Quote) has fallen 7%.

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Posted by rjorr at September 3, 2009 9:27 PM