About us

The IO Digital Infrastructure Index (BYTE) is the leading benchmark for investing in the growing, modern, high tech infrastructure industry.

It is a global index of 40 constituents, seeking to optimize for a balance for growth, soundness, and value.

Learn more about the BYTE ETF from our partner, Roundhill Investments

BYTE Index

IO Digital Infrastructure Index – Summary

The IO Digital Infrastructure Index (BYTE) is comprised of 40 global businesses that provide the infrastructure layer of the internet.

Assets such as data centers, fiber connectivity, last mile broadband, and mobile towers make up the backbone of the internet. As data consumption grows, so does the importance of high performing infrastructure to transport and store that data. The index uses an algorithm balancing growth, soundness, and value to select its 40 constituents.

As a result, digital infrastructure owners and operators win as data consumption needs grow, regardless of what specific use case is popular. 

IO Digital Index Partners uses its proprietary GSV (Growth, Soundness, and Value) algorithm to select 40 of the most well-positioned digital infrastructure companies in the world. These businesses are generally characterized by long-duration recurring cash flows, secular growth, inflation resilience, sound financial positions, and strategic competitive positions. As end-user performance expectations grow, the importance of these assets grows with it.

IO Digital Index Partners determines the the BYTE universe by focusing on businesses that generate the majority of their revenue from modern digital infrastructure assets, eliminating companies that rely on legacy technologies or are in highly competitive services industries. The reulting universe is further filtered for companies that meet minimum size, geographic, and trading volume requirements.

The Index is rebalanced semiannually, based on GSV ranking, subject to geographic and minimum liquidity constraints. At a rebalance, no less than 65% of the index weight will be in US-focused businesses. Emerging markets will be capped at 15% and non-US developed markets at 35%.

BYTE Index Market Cap, Geographic, and Industry compositions as of Sept. 30, 2021.

BYTE Index Constituents

Top Ten Companies – Alphabetical as of September 30, 2021

Altice USA: ATUS – Fiber and Fixed Line – USA

American Tower: AMT – Mobile Infrastructure – USA

Cable One: CABO – Fiber and Fixed Line – USA

Charter Communications: CHTR – Fiber and Fixed Line – USA

Crown Castle International: CCOI – Mobile Infrastructure – USA

Liberty Global: LBTYA – Fiber and Fixed Line – Developed International

Lumen / Century Link: LUMN – Fiber and Fixed Line – USA

Megacable: MEGACPO:MM – Fiber and Fixed Line – Emerging Markets

SBA Communications: SBAC – Mobile Infrastructure – USA

Uniti Group: UWL:AU – Fiber and Fixed Line – Developed International

Fact Sheets about the BYTE Index

Fact Sheet Archive

Learn More about the IO Digital Infrastructure Index (BYTE)