Talk about your overused construct. Infrastructure used to be reasonably well-defined --- electricity, roads, bridges, phones, airports, hospitals and water.

Unfortunately, the SPDR/FTSE Macquarie Global Infrastructure Fund (GII), correlates at a near 1.0 with Global Utilities (JXI). In fact, it's pretty difficult to tell the two apart.

The problem here, of course, is that 90% of the SPDR/FTSE Macquarie Global Infrastructure Fund (GII) is represented by utility companies. Infrastructure advocates claim that you need representation of industries beyond electric plants and potable water; other industries might incorporate construction, building products, engineering, heavy equipment and energy.

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Posted by rjorr at October 15, 2009 9:23 AM