Themes US Infrastructure ETF (HWAY) seeks to provide exposure to U.S. companies involved in infrastructure development, maintenance, and operations. This recently launched ETF targets firms across utilities, transportation, telecommunications, and construction sectors that benefit from America's infrastructure modernization needs.
How It Works
HWAY employs an actively managed approach to select U.S. infrastructure-related companies across multiple sectors including utilities, energy pipelines, transportation networks, and telecommunications infrastructure. The fund focuses on companies positioned to benefit from government infrastructure spending and private capital investment in critical systems. As a new ETF launched in September 2024, specific weighting methodology and rebalancing frequency details are still emerging through operational history.
Key Features
- Launched September 2024, providing timely exposure to infrastructure investment themes amid federal spending initiatives
- Zero expense ratio structure makes it cost-competitive compared to typical infrastructure ETFs charging 0.40-0.60%
- Focuses specifically on U.S. infrastructure companies rather than global exposure, concentrating on domestic policy benefits
Risks
- This ETF can lose value if government infrastructure spending disappoints or gets delayed, reducing revenue growth for portfolio companies
- Utility sector concentration means interest rate sensitivity—rising rates typically pressure utility stock valuations and dividend appeal
- New fund status creates uncertainty around asset gathering, liquidity development, and potential closure if assets remain minimal
Who Should Own This
Best suited as a satellite holding (5-15% of portfolio) for investors with 3+ year time horizons seeking thematic exposure to U.S. infrastructure modernization. Medium risk tolerance required due to sector concentration and new fund risks. Appeals to investors wanting to capitalize on government spending trends while maintaining domestic focus.