Infrastructure ETFs Target Global Trend

I'm not sure whether infrastructure can be viewed as a separate asset class. After all, plenty of mining and industrial stocks have outperformed the broad market, not just infrastructure names.

As you consider the validity of infrastructure is an asset class, it's worth looking at real estate investment trusts, or REITs. Can they be considered an asset class?

REITs have offered no protection from falling stocks during the past two years. In fact, the segment fared much worse than the broad market. Defenders might point out that real estate was at the heart of the crisis. While that might be true, the argument for considering REITs as a distinct asset class is weak.

Even if infrastructure isn't an asset class, it remains a compelling investment theme. Economic growth in emerging countries should benefit the stocks operating in this space for years to come.