iShares Global Utilities ETF

JXI

時価総額 $3.89億

Water utilities are notably undervalued by 25% versus 11-year averages, while electricity and gas utilities are near historical baselines. iShares Global Utilities ETF offers global diversification but remains U.S.-heavy, with 61% of assets in U.S. companies. Despite outperforming XLU by 8% over the past year, JXI has underperformed XLU by 2.4% annualized since 2006.

US utility capital expenditure is tracking toward approximately 1.3 trillion dollars through 2030, according to an April 2026 forecast from S&P Global Market Intelligence. A tripling of data center power demand within five years requires transmission, generation, and distribution investment on a timeline that utilities are only now beginning to fully underwrite into their capital plans.

Water utilities are undervalued based on historical averages, while electric utilities are overvalued. iShares Global Utilities ETF provides global utilities exposure but remains U.S.-centric, with 62% of assets in U.S. companies. JXI is marginally cheaper than XLU on valuation ratios but lags in historical returns despite recent outperformance.

Electricity is becoming a stronger economic growth engine, powering AI data centres, EVs, heat pumps and industrial decarbonisation. But grids aren't keeping up.

JXI: Three Reasons I Like This Utilities Fund For The Current Environment

This article provides a top-down analysis of the utilities sector, focusing on value and quality metrics. Water utilities are undervalued based on historical averages, while electricity/multi-utilities are moderately overvalued. The iShares Global Utilities ETF provides global diversification and value characteristics in the utilities sector with recent outperformance.

I rate iShares Global Utilities ETF a buy, as utilities offer both defensive stability and growth from decarbonization and rising global energy demand. JXI stands out for its global diversification and lower company-specific risk compared to U.S.-focused peers like XLU and FUTY. Despite a higher expense ratio, JXI trades at lower valuation multiples and has outperformed peers over the last three years.

For investors seeking momentum, iShares Global Utilities ETF JXI is probably on the radar. The fund just hit a 52-week high and is up 22.04% from its 52-week low price of $59.63/share.

JXI, the iShares Global Utilities ETF, underperforms peer ETFs and charges higher fees, making it less attractive for utility stock exposure. JXI's expense ratio is 0.41%, higher than competitors like FUTY and XLU, which offer better returns and liquidity. JXI's dividend yield is 2.88%, lower than its peers' 3%, further diminishing its appeal for income-focused investors.

This article series reports subsector metrics in utilities, aiding top-down analysis and stock picking. Water utilities are undervalued by 12% based on 11-year averages, while electricity/multi-utilities are overvalued by 15%. JXI ETF offers global utilities exposure, but fees and underperformance make it uncompelling compared to a domestic benchmark.