The GLIO Index finished 2021 up 14.9 percent. The majority of sectors advanced in USD terms in 2021. Utilities (9.9 percent), electric (11.2 percent), gas (4.9 percent) and water utilities (22.2 percent) all finished the year ahead. Renewables fell 27.8 percent in 2021 after a stellar year (88.7 percent) in 2020.

Transportation added 14 percent in 2021, driven higher mainly by the heavily weighted railroads sector (20.8 percent). Marine ports jumped (38.8 percent). Tollroads (6 percent) and airports (4.7 percent) experienced modest gains. Only passenger rail fell back (–7.9 percent) for the year.

Telecom infrastructure (29.6 percent) saw the second largest move in 2021 (29.6 percent), only outperformed by energy transport and storage (35.2 percent).

Global equities finished 2021 higher 22.3 percent. The 15-year annualized USD return for the GLIO Index is 8.7 percent, ahead of global equities (8 percent) and achieving this with 300 basis points lower volatility