What this ETF is trying to do

The Macquarie Global Listed Infrastructure ETF (BILD) invests in companies that build and operate essential infrastructure. This includes things like energy pipelines, utilities, and airports. Based on its Top Holdings, the fund invests in companies like Enbridge Inc (5.91%), United Utilities Group PLC (4.39%), and Cheniere Energy Inc (4.06%). These holdings can change over time.

What the numbers show

As of October 2, 2026, the share price was $27.68. To understand how the fund performed, we look at two different types of returns:

• Price Return: This measures only the change in the share price. The one-year price return was -0.67%, and the year-to-date (YTD) price return was -1.67%.

• Total Return: This reflects the overall return, including cash distributions. The one-year total return was 4.32%, and the YTD total return was 2.53%.

Because the price return is negative but the total return is positive, it shows that the cash paid out to investors helped the overall return even though the share price fell slightly.

For example, if you had invested $10,000 based on the estimated price from roughly one year ago ($27.86), the share-price decline alone would have left your principal worth slightly less than $10,000.

Income and distribution explanation

This ETF pays out cash to investors, usually every quarter. Over the last 12 months, it made 4 payouts totaling $1.44 per share. This results in a distribution yield of approximately 5.19%.

It is important for beginners to know that a high distribution yield alone can be misleading. A high yield does not guarantee that the investment is growing or that your original money is safe.

NAV erosion explanation

"NAV erosion" happens when the actual value of the fund's assets drops over time. Investors who want steady income care about principal stability because they don't want their original investment to disappear.

For BILD, the erosion-risk score is 94, which is labeled as "Stable / sideways" with "good" severity. Additionally, the severe erosion-risk flag is false, meaning the fund has not triggered a warning for substantial price deterioration.

Pros

• Positive Total Returns: While the share price dipped, the total returns for the year and YTD remained positive.

• Stable Risk Score: The erosion-risk measurement suggests the fund's price trend is currently stable.

• Regular Income: The fund provides quarterly cash distributions.

Cons

• Negative Price Return: The share price has declined slightly over the last year and so far this year.

• Average Income Grade: The fund has an income rating grade of "C."

Beginner takeaway

BILD is an infrastructure fund that pays regular income. While the share price has seen a small decline, the total return (which includes those payments) has stayed positive. It currently shows a "good" erosion-risk score, meaning it is not showing signs of severe value loss.