BNY Mellon Global Infrastructure Income ETF

BKGI

時価総額 $18.6億

BNY Mellon Global Infrastructure Income ETF (BKGI) offers global infrastructure exposure with a forward yield target of 6%. I'm initiating coverage of BKGI with a buy rating. It's global infrastructure income that fits my bull thesis on the West's power buildout. The look-through splits cleanly: North America trades at 21.4x forward P/E on 4.91x net debt/EBITDA, Europe at 13.6x on 2.88x.

Considering that the Federal Reserve has been meeting this week, it's safe to say that inflation is likely front-and-center on the minds of many advisors and investors. After all, energy prices and supply chain constraints have kept inflationary pressures far more persistent than the Fed would like.

Broadly speaking, when advisors and investors are looking to dial into a particular sector for their portfolio, it's usually for either an offensive or defensive means. An infrastructure ETF can play both offense and defense, especially right now.

It seems like the momentum for the BNY Mellon Global Infrastructure Income ETF (BKGI) won't slow down any time soon. After hitting $1 billion in assets under management back in May, the fund has continued to pick up steam, sitting at a little over $1.1 billion in AUM as of June 23, 2026.

Infrastructure took center stage at VettaFi's Midyear Market Outlook Symposium on Thursday, drawing portfolio managers from Impax Asset Management and BNY Investments – Newton. Both argued that the asset class belongs in most portfolios as a dedicated allocation, not a tactical theme.

Ever since the Middle East conflict erupted earlier this year, rising energy prices have continued to push the persisting risk of inflation further into the foreground. However, several market sectors are still growing at an attractive pace and many investors have taken the signal not to pivot to full defense — just yet.

Inflation and geopolitical uncertainty are pushing advisors and investors to rethink how they build diversified portfolios. However, it's important to note that diversification comes in many different forms.

At face value, infrastructure stocks already offer a solid value proposition, due to their income opportunities, inflation protection, and more. However, long-term tailwinds could further propel these companies to new heights.

The BNY Mellon Global Infrastructure Income ETF offers a 2.69% yield via a globally diversified infrastructure portfolio, with a utility-heavy allocation. BKGI's blend of traditional and non-traditional infrastructure assets provides risk diversification, outperforming pure energy infrastructure funds during sector downturns. Utilities, comprising just over half of BKGI, may benefit from AI-driven data center electricity demand, but growth remains slow and bond-like.

In the 24-hour financial news cycle, there's much buzz surrounding the buildout of infrastructure for artificial intelligence (AI). What about infrastructure beneficial to humans?