Legg Mason added a new global infrastructure exchange traded fund on the last day of trading for the year, tapping into the expertise of its dedicated global infrastructure investment team, RARE.

On Friday, Legg Mason launched the Legg Mason Global Infrastructure ETF (NasdaqGM: INFR). INFR has a 0.53% total expense ratio.

The new global infrastructure ETF will try to reflect the performance of the RARE Global Infrastructure Index, which is comprised of global infrastructure-related equities. The underlying index will also screen for other factors, including a liquidity filter for companies with a minimum of $500 million market capitalization and a 1-year average daily value traded of $2 million, along with those ranked from the highest dividend yield and cash flow yield. Components are then weighted by market capitalization and free float, RARE exposure score, price volatility and region.

The ETF can include utilities infrastructure sectors, including electric utilities, gas utilities, independent power producers & energy traders, multi-utilities, renewable electricity and water utilities. Additionally, the fund may hold economically sensitive infrastructure sectors, including airport services, cable & satellite, highways & railtracks, marine ports & services, oil & gas storage & transportation, railroads, and specialized real estate investment trusts.

INFR’s top holdings include Union Pacific 5.0%, Transurban Group 4.6%, Enbridge 4.6%, Transcanada 4.5% and National Grid PLC 3.8%.

RARE is an investment management company focused on global listed infrastructure. Legg Mason acquired RARE Infrastructure Limited back in July 2015. The team also helps manage Legg Mason’s RARE Global Infrastructure Value Fund (RGIVX).

“Our philosophy is to provide investors with a high-quality portfolio of listed infrastructure securities managed by an experienced team of specialists,” according to Legg Mason. “The company’s investment and risk management approach is reflected in its name – Risk Adjusted Returns to Equity (RARE) – with the risk/return relationship being the prime focus.”

For more information on new fund products, visit our new ETFs category.