Impax Launches BLDX: A Global Play on Sustainable Infrastructure

What Makes BLDX Different?

At its core, BLDX focuses on companies deriving meaningful revenue from sustainable infrastructure—defined broadly by Impax to include clean energy, water, waste management, transportation, healthcare, education, and digital infrastructure.

To qualify for inclusion, a company must generate at least 20% of its revenue from such themes.

BLDX integrates fundamental financial analysis with material ESG criteria, applying Impax’s long-standing sustainable investing philosophy across a wide, unconstrained opportunity set. The fund holds between 30 and 50 high-conviction names, selected from a global universe of over 1,100 companies.

Under normal conditions, at least 40% of assets are allocated outside the US, including emerging markets.

It may also invest in REITs, preferred shares, and convertibles, offering flexibility to navigate evolving markets.

Importantly, BLDX adheres to a fossil fuel exclusion policy, avoiding companies involved in exploration and production, and applying strict criteria to firms involved in processing or distribution.

Companies with credible, verifiable plans aligned with the net-zero transition may be considered on a case-by-case basis.

As of February 2, 2026, the fund held 40 positions, with the top 10 accounting for 35% of total net assets. Holdings included names like Waste Connections (WCN), Union Pacific Corp (UNP), Iberdrola SA (IBSE SM), NextEra Energy Inc. (NEE), American Water Works (AWK), and Digital Realty Trust (DLR), among others.

BLDX trades on the NYSE and has an expense ratio of 0.60%. It is available on major custodial and trading platforms, including Fidelity, Schwab, and Pershing.

Why BLDX Now?

The launch of BLDX comes at a time when infrastructure has moved to the center of geopolitical, environmental, and economic discussions. With aging systems, growing urban populations, and the urgent need for climate resilience, infrastructure investment is increasingly seen as both a defensive anchor and a growth engine.

Here’s what BLDX brings to the table:

• Robust Long-Term Drivers: Sustainable infrastructure is a multi-decade theme. From clean water access to broadband expansion, companies delivering these essential services are poised for secular growth.
• Diversified & Defensive Exposure: With active risk management and sector constraints in place, BLDX aims to deliver defensive growth and attractive yield, even amid volatility.
• Macro-Resilient Holdings: In a world of rising rates, inflation, and global uncertainty, infrastructure names tend to offer inflation-linked pricing power and stable cash flows.
• Active with Impact: Beyond performance, BLDX offers annual impact reporting, quantifying the environmental outcomes linked to portfolio holdings. This level of transparency is rare in public markets—and signals Impax’s commitment to measurable sustainability.

Ed Farrington, President, North America, Impax said: “We’ve been closely monitoring the growth of the ETF market and believed the Global Sustainable Infrastructure Fund was a natural fit for the structure. The move to an ETF is intended to meet the evolving needs of clients and reflect how Registered Investment Advisors are building portfolios, prioritizing tax efficiency, intraday liquidity and operational simplicity, while retaining the benefits of Impax’s active management and investment philosophy.”

Robb Ruhr, Head of Portfolio Specialists, North America, Impax added: “The strategy itself is unchanged. Now in an ETF wrapper that fits more naturally into modern advisory portfolios, clients can take advantage of the same thematic opportunities connected to the transition to a more sustainable economy.”

About Impax Asset Management

Impax is one of the largest specialist investors focused on the transition to a more sustainable economy. We believe strong investment returns can be generated by investors who better understand the opportunities and risks associated with forces shaping the future, including resource constraints, policy and regulation, technological innovation, and evolving social trends. We believe these trends are reshaping capital markets: driving growth for well-positioned companies and creating risks for those unable or unwilling to adapt. Our investment approach seeks out high-quality companies and issuers with enduring business models and sound risk management, aiming to deliver strong outcomes for our clients over the medium to long term.

Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.