(Bloomberg) -- Long before President Donald Trump makes good on his pledge to spend $1 trillion on U.S. infrastructure projects — including using only American metal in new pipelines — investors already are seeing a big payoffs from domestic steel producers.

The VanEck Vectors Steel ETF delivered an 82% return in the year through Monday as shares surged in the industry it tracks, posting the third-best performance among non-leveraged ETFs in the U.S. Bloomberg gauge of iron ore and steel producers — which just a year ago was at its lowest since at least 2003 — climbed more than 40%. Investors poured about $476 million into industrial-metals ETFs, and billionaire Stan Druckenmiller's Duquesne Family Office boosted by 80 percent its stake in Nucor, the largest U.S. steelmaker.

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