The selected ETFs highlight various engineering activities, related to infrastructure and to home building, with preference for developed markets, the US and globally

The comparison between funds focused on distinct areas - emerging markets / global markets / specialized engineering - reflects investor perception , flight to safety or cyclical sector rotation

• There appears to be very little appetite for emerging market infrastructure funds. Only one small emerging country infrastructure fund, iShares S&P Emerging Markets Infrastructure Index Fund EMIF/NASDAQ  is listed as country-specific funds for Brazil, China, India and Columbia have been closed
• Specialized exposure in engineering and construction , covered globally by FLM or US focused (AIRR or PKB), has only attracted modest interest but appears most sensitive to US infrastructure policies 

Global infrastructure funds feature solid assets under management  - foremost IGF - poor performance over the past year reflects the dismal impact of the pandemic on the global economy

Home builders - ITB and XHB - are more focused and could turn out to be relevant indicators of trends on the US market

The funds included in the selection closely mirror shifts in economic expectations, as shown by performance  for short time frames (past quarter or past month)