Do BLDX and UPGR 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.

Which is more different from the S&P 500, BLDX or UPGR?

BLDX has 36% of its weight in S&P 500 names and UPGR has 23%, so UPGR differs more from the index.

Which is cheaper, BLDX or UPGR?

BLDX charges 0.60% a year and UPGR charges 0.35%, so UPGR is cheaper. Fees come from each fund's prospectus.

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BLDX vs UPGR: which is really different?

BLDX and UPGR hold 4% of their weight in the same names. Impax Global Sustainable Infrastructure ETF and Xtrackers US Green Infrastructure Select Equity ETF.

36.0%

BLDX in the S&P 500

22.9%

UPGR in the S&P 500

−1.4%

BLDX total return, since launch

−4.5%

UPGR total return, 1 year

BLDX · 6 months to Sep 30, 202664% of its weight is outside the S&P 500

36% of BLDX's weight is in S&P 500 companies and 64% is outside the index

UPGR · 1 year to Sep 30, 202677% of its weight is outside the S&P 500

23% of UPGR's weight is in S&P 500 companies and 77% is outside the index

ETFIQ Off-Index Score · UPGR scores higherHow much of it is not the index it is sold as an alternative to?

BLDX 38.3

UPGR 42.8

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, BLDX and UPGR 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 Jun 30, 2026 and May 29, 2026.

50%

half

4% in common

Positions both hold, largest shared weight first

Holding BLDX UPGR

Ormat Technologies, Inc. 1.78% 2.27%

Waste Management, Inc. 2.29% 1.71%

Only in BLDX

Union Pacific Corp. 5.41%

American Water Works Co., Inc. 5.06%

Iberdrola SA 4.57%

Keppel DC REIT 4.03%

National Grid plc 3.95%

NextEra Energy, Inc. 3.61%

Digital Realty Trust, Inc. 3.30%

Deutsche Telekom AG 3.26%

Only in UPGR

FUELCELL ENERGY INC 6.24%

PURECYCLE TECHNOLOGIES INC 4.29%

SHOALS TECHNOLOGIES GROUP INC 3.37%

BLOOM ENERGY CORP 3.35%

FIRST SOLAR INC 2.93%

ENERGY VAULT HOLDINGS INC 2.89%

QUANTUMSCAPE CORP 2.74%

PLUG POWER INC 2.72%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

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	BLDX	UPGR	BLDX	UPGR	BLDX	UPGR
3 months	−4.8%	−20.3%	−7.3 pts	−22.9 pts	−6.9 pts	−22.5 pts
6 months	−4.5%	−6.8%	−21.4 pts	−23.8 pts	−31.3 pts	−33.7 pts
1 year	not published	−4.5%	not published	−20.2 pts	not published	−28.3 pts
3 years	not published	+10.8%	not published	−74.2 pts	not published	−99.2 pts
Since launch BLDX Feb 2026 · UPGR Jul 2023	−1.4%	−10.6%	−11.9 pts	−87.2 pts	−19.9 pts	−109.3 pts

BLDX and UPGR over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

BLDX

Impax Global Sustainable Infrastructure ETF · Holds 38 stocks in infrastructure, 36% of its weight in S&P 500 companies

UPGR

Xtrackers US Green Infrastructure Select Equity ETF · Holds 45 stocks in infrastructure, 23% of its weight in S&P 500 companies

Issuer Impax Xtrackers

Theme Infrastructure Infrastructure

In the S&P 500 36.0% 22.9%

Active share vs the S&P 500 96.6% 97.4%

In the Nasdaq-100 3.3% 2.4%

Holdings 38 45

Top ten, share of the fund 39.6% 33.8%

Expense ratio 0.60% 0.35%

Fee for the differing part 0.62% 0.36%

Total return, 1 year −1.4% (since launch on Feb 2, 2026) −4.5%

vs the S&P 500 −11.9 pts −20.2 pts

vs the Nasdaq-100 −19.9 pts −28.3 pts

Below its high −10.4% −27.0%

Net assets $118m $537,620

BLDX and UPGR on the same fields, as of Sep 30, 2026. Source: ETFIQ.

BLDX in plain words

By weight, 36% of BLDX's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 40% of the fund across 38 positions, as filed for Jun 30, 2026. Since it launched on Feb 2, 2026 the fund returned −1.4% with distributions reinvested against +10.5% for the S&P 500, so a holder was behind by 11.9 pts. It sits 10.4% below its all-time high of Apr 8, 2026.

UPGR in plain words

By weight, 23% of UPGR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 34% of the fund across 45 positions, as filed for May 29, 2026. Over the year to Sep 30, 2026 the fund returned −4.5% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 20.2 pts. It sits 27.0% below its all-time high of Jun 2, 2026.

Questions people ask

Do BLDX and UPGR 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.
Which is more different from the S&P 500, BLDX or UPGR?: BLDX has 36% of its weight in S&P 500 names and UPGR has 23%, so UPGR differs more from the index.
Which is cheaper, BLDX or UPGR?: BLDX charges 0.60% a year and UPGR charges 0.35%, so UPGR is cheaper. Fees come from each fund's prospectus.

Other comparisons

BLDX vs RBLD BLDX vs EFRA BLDX vs IFRA BLDX vs IPAV UPGR vs EFRA UPGR vs IFRA UPGR vs IPAV UPGR vs PAVE

BLDX on its own →UPGR on its own →How every figure is computed →Standards and sources →

Where these figures came from

BLDX filings on SEC EDGAR ↗BLDX prospectus with the expense ratio (SEC) ↗Impax website ↗UPGR filings on SEC EDGAR ↗UPGR prospectus with the expense ratio (SEC) ↗Xtrackers website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, BLDX against UPGR, data as of Sep 30, 2026. https://etfiq.com/compare/themes/bldx-vs-upgr

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.