Global smart grid and grid infrastructure is the backbone of the energy transition. Reflecting this trend, the Nasdaq OMX Clean Edge Smart Grid Infrastructure Index™ (QGDX™) has increased 463.24% over the last 10 years. During the same period, the MSCI World Infrastructure Index, designed to capture the owners and operators of infrastructure assets (telecommunications, utilities, energy, transportation, and social) globally, rose 120.74%. QGDX™ outperformed MSCI World Infrastructure in seven of the past 10 years and achieved twice as many annual double-digit increases, eight times compared to four. Sectoral growth remains strong, with the International Energy Agency predicting that 80 million kilometers of new or refurbished transmission and distribution (T&D) lines will be needed globally by 2040 (double the amount of T&D lines that the agency estimates are currently deployed). According to the latest research from Bloomberg New Energy Finance, energy transition investments reached a record $2.3 trillion in 2025, up 8% from 2024. Grid investments are projected to remain robust due to megatrends including the shift to electrified transport, the massive buildout of data centers, and the growth and integration of both utility-scale and distributed energy storage systems.