Just been looking back at some infrastructure investing themes that have held up pretty well over the past few years. When that massive infrastructure bill passed back in 2021, a lot of people jumped into the obvious plays, but there were some deeper angles worth considering that still feel relevant today.

The infrastructure boom that kicked off several years ago created multiple entry points. Most investors went straight for the construction and repair angle, but the real opportunity was in the supporting infrastructure—think digital connectivity and energy transformation. The cloud and 5G buildout became critical as broadband expansion became a priority. Companies enabling that transition ended up being some of the best infrastructure etf plays because they were less obvious than the pure construction story.

What's interesting looking back is how the megatrends that started accelerating around 2021 actually played out. Clean energy was one everyone talked about, but the supply chain angle—the companies making components for EVs, the semiconductor players, the equipment manufacturers—those became the real winners. If you'd positioned for the infrastructure boom through exposure to the entire value chain rather than just the end products, you'd have captured more of the upside.

The best infrastructure etf approach wasn't just picking one theme. It was understanding that infrastructure spending ripples across multiple sectors. Digital infrastructure, clean energy infrastructure, transportation infrastructure—they're all interconnected. The semiconductor companies, the EV supply chain players, the renewable energy equipment makers—they all benefited in ways that weren't immediately obvious.

Looking at how this actually unfolded, the diversified infrastructure etf approach definitely outperformed the single-theme bets. The companies that provided critical inputs and enablement for the broader infrastructure transformation ended up being the real value drivers. Worth keeping that playbook in mind for any future infrastructure cycles.