BILT vs IPAV: which is really different?
BILT and IPAV hold 4% of their weight in the same names, and BILT returned +8.5% over the year. iShares Infrastructure Active ETF and Global X Infrastructure Development ex-U.S. ETF.
IPAV costs 0.05 points a year less; their one-year returns differ by 1.8 points; BILT is far larger, $112m against $5m.
| BILT | IPAV | |
|---|---|---|
| Expense ratio | 0.60% | 0.55% |
| Net assets, as of Oct 8, 2026 | $112m | $5m |
| Total return, 1 year | +8.5% | +6.7% |
| What it tracks | Infrastructure | Infrastructure |
| Holdings in common | 4% | |
| S&P 500, total return, 1 year | +17.3% | |
| Against the S&P 500, 1 year | behind by 8.7 pts | behind by 10.5 pts |
| Below its all-time high | 7.6%, high on Jul 24, 2026 | 14.3%, high on May 6, 2026 |
Holdings in common uses holdings dated Oct 8, 2026.
47% of BILT's weight is in S&P 500 companies and 53% is outside the index. Holdings as of Oct 8, 2026.
0% of IPAV's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 8, 2026.
A percentile among the 391 thematic ETFs with a holdings filing. All thematic ETFs ranked by it → How it is computed →
What they hold in common
By the books each fund has filed, BILT and IPAV hold 4% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 8, 2026.
half
4% in common
4% of the two portfolios are the same securities at the same weight.
Performance, window by window
| Total return | vs the S&P 500 | vs the Nasdaq-100 | ||||
|---|---|---|---|---|---|---|
| Window | BILT | IPAV | BILT | IPAV | BILT | IPAV |
| 3 months | −6.4% | −5.1% | −9.8 pts | −8.5 pts | −10.1 pts | −8.7 pts |
| 6 months | −5.7% | −7.1% | −20.9 pts | −22.3 pts | −28.9 pts | −30.3 pts |
| 1 year | +8.5% | +6.7% | −8.7 pts | −10.5 pts | −15.1 pts | −16.9 pts |
| Since launch BILT Jul 2025 · IPAV Aug 2024 | +12.4% | +24.2% | −12.4 pts | −18.9 pts | −21.3 pts | −37.0 pts |
Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
BILT in plain words
By weight, 47% of BILT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 42% of the fund across 237 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +8.5% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 8.7 pts. It sits 7.6% below its all-time high of Jul 24, 2026.
IPAV in plain words
By weight, 0% of IPAV's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 31% of the fund across 100 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +6.7% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 10.5 pts. It sits 14.3% below its all-time high of May 6, 2026.
Questions people ask
- Do BILT and IPAV hold the same stocks?
- By their latest filings, 4% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
It is a position in a set, not a rating, and neither end of it is a recommendation.
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.
Every figure is an ETFIQ calculation with distributions reinvested.
ETFIQ, BILT against IPAV, data as of Oct 9, 2026. https://etfiq.com/compare/themes/bilt-vs-ipav
ETFIQ. (Oct 9, 2026). BILT against IPAV. Retrieved from https://etfiq.com/compare/themes/bilt-vs-ipav
[BILT against IPAV (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/themes/bilt-vs-ipav)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.