Infrastructure-themed exchange-traded funds rose on Monday after President Donald Trump unveiled an infrastructure program, although they lagged the overall market as questions remained over the program’s structure and financing. The Global X US Infrastructure Development ETF rose 0.7% and was on track for a day of heavier-than-average trading volume. The iShares Global Infrastructure ETF added 0.3% on the day. The Trump administration released a program to transform how the nation’s infrastructure is funded and developed, but the initiative faces an uncertain road in Congress over finding the money to pay for it. Trump will propose spending $200 billion over 10 years, largely in the form of competitive grants designed to encourage states and cities to raise their own money. Questions about the proposal may limit the upside potential in the ETFs, which in the past have risen on hopes for an infrastructure stimulus package that would spur demand in their underlying components. Both funds have struggled of late; the Global X fund has dropped 6.8% thus far this month, while the iShares ETF has lost 6.7% over the same period. The S&P 500 rose 0.8% on Monday while the Dow Jones Industrial Average was up 0.9%.
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