Infrastructure spending around the globe is booming, as developed nations are maintaining what they have while emerging countries are building up, meaning that those related exchange traded funds (ETFs) could rally both now and later.

Zoe Van Schynedel for The Motley Fool says the infrastructure upgrades going on in the world today involve transportation networks, energy pipelines, water supply systems, communications networks, sewers and wastewater treatment systems.

That’s a lot going on at once from an investment standpoint.

There are two ETF approaches to take when considering where to put your money if this is a sector you’d like to get into.

A broad range of sectors and companies can be accessed with SPDR/FTSE Macquarie Global Infrastructure 100 (GII). GII follows around 100 companies of within management, ownership and operation of infrastructure and utility assets. A narrower focus can be had with the iShares S&P Global Infrastructure Index (IGF), which holds 75 stocks involving utilities, industrials and energy in both developed and emerging markets.

One caveat, though: the rising cost of steel is leading to projects being scaled back or halted altogether, both here and abroad. Could this hurt infrastructure and companies involved in both emerging and developed markets? Once the world’s economy stabilizes some and projects are picked up again, perhaps this sector will see some renewed vigor.

Year-to-date, GII is down 2.6% and IGF is down 4.5%.

Tags: Emerging Markets, Energy, Infrastructure, Material ETFs, Metals & Mining, Sector ETFs, Steel, Utilities, Water