Do EFRA and NFRA hold the same stocks?

By their latest filings, 2% 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, EFRA or NFRA?

EFRA has 26% of its weight in S&P 500 names and NFRA has 36%, so EFRA differs more from the index.

Which is cheaper, EFRA or NFRA?

EFRA and NFRA both charge 0.47% a year, so neither is cheaper. Fees come from each fund's prospectus.

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EFRA vs NFRA: which is really different?

EFRA and NFRA hold 2% of their weight in the same names. iShares Environmental Infrastructure and Industrials ETF and Northern Trust STOXX Global Broad Infrastructure ETF.

Both cost 0.47% a year; their one-year returns differ by 0.1 points; NFRA is far larger, $3.0bn against $5m.

	EFRA	NFRA
Expense ratio	0.47%	0.47%
Net assets, EFRA as of Oct 8, 2026 and NFRA as of Jul 31, 2026	$5m	$3.0bn
Total return, 1 year	+5.6%	+5.5%
What it tracks	Infrastructure	Infrastructure
Holdings in common	2%
S&P 500, total return, 1 year	+17.3%
Against the S&P 500, 1 year	behind by 11.6 pts	behind by 11.7 pts
Below its all-time high	6.6%, high on Feb 27, 2026	5.5%, high on Feb 27, 2026

Holdings in common uses holdings dated Jul 31, 2026 and Oct 8, 2026.

25.8%

EFRA in the S&P 500

35.8%

NFRA in the S&P 500

+5.6%

EFRA total return, 1 year

+5.5%

NFRA total return, 1 year

EFRA · 1 year to Oct 9, 202674% of its weight is outside the S&P 500

26% of EFRA's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Oct 8, 2026.

NFRA · 1 year to Oct 9, 202664% of its weight is outside the S&P 500

36% of NFRA's weight is in S&P 500 companies and 64% is outside the index. Holdings as of Jul 31, 2026.

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

EFRA 79.2

NFRA 35.3

0.1, the lowest in this set92.3, the highest

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, EFRA and NFRA hold 2% 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 Jul 31, 2026 and Oct 8, 2026.

50%

half

2% in common

Positions both hold, largest shared weight first

Holding EFRA NFRA

UNITED UTILITIES GROUP PLC 3.98% 0.65%

SEVERN TRENT PLC 3.11% 0.51%

CLEAN HARBORS INC 4.59% 0.21%

ESSENTIAL UTILITIES INC 3.13% 0.14%

PENNON GROUP PLC 0.66% 0.14%

BEFESA SA 0.41% 0.06%

AGUAS ANDINAS SA 0.26% 0.05%

CALIFORNIA WATER SERVICE GROUP 0.80% 0.04%

H2O AMERICA 0.57% 0.03%

TRE HOLDINGS CORP 0.12% 0.02%

Only in EFRA

VERALTO CORP 6.21%

WESTINGHOUSE AIR BRAKE TECHNOLOGIE 6.00%

SMURFIT WESTROCK PLC 5.81%

XYLEM INC 5.77%

VEOLIA ENVIRON. SA 5.74%

AMERICAN WATER WORKS 5.65%

COMPANHIA DE SANEAMENTO BASICO DE 4.44%

YANGZIJIANG SHIPBUILDING (HOLDINGS 2.79%

Only in NFRA

Canadian Pacific Kansas City Ltd. 3.74%

SoftBank Group Corp. 3.51%

Canadian National Railway Co. 3.34%

Deutsche Post AG 2.97%

Deutsche Telekom AG 2.83%

Verizon Communications, Inc. 2.70%

NextEra Energy, Inc. 2.51%

Union Pacific Corp. 2.40%

2% 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	EFRA	NFRA	EFRA	NFRA	EFRA	NFRA
3 months	−3.1%	−3.7%	−6.5 pts	−7.1 pts	−6.8 pts	−7.4 pts
6 months	−3.5%	−2.5%	−18.6 pts	−17.7 pts	−26.6 pts	−25.7 pts
1 year	+5.6%	+5.5%	−11.6 pts	−11.7 pts	−18.0 pts	−18.1 pts
3 years	+46.4%	+45.2%	−39.4 pts	−40.6 pts	−60.9 pts	−62.1 pts
Since launch EFRA Nov 2022 · NFRA Oct 2013	+59.5%	+127.4%	−61.6 pts	−358.0 pts	−135.8 pts	−857.4 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

EFRA

iShares Environmental Infrastructure and Industrials ETF · Holds 79 stocks in infrastructure, 26% of its weight in S&P 500 companies

NFRA

Northern Trust STOXX Global Broad Infrastructure ETF · Holds 179 stocks in infrastructure, 36% of its weight in S&P 500 companies

Issuer iShares Northern Trust

Theme Infrastructure Infrastructure

In the S&P 500 25.8% 35.8%

Active share vs the S&P 500 99.8% 96.1%

In the Nasdaq-100 0.0% 7.4%

Holdings 79 179

Top ten, share of the fund 51.3% 28.6%

Expense ratio 0.47% 0.47%

Fee for the differing part 0.47% 0.49%

Total return, 1 year +5.6% +5.5%

vs the S&P 500 −11.6 pts −11.7 pts

vs the Nasdaq-100 −18.0 pts −18.1 pts

Below its high −6.6% −5.5%

Net assets, EFRA as of Oct 8, 2026 and NFRA as of Jul 31, 2026 $5m $3.0bn

As of Oct 9, 2026. Source: ETFIQ.

EFRA in plain words

By weight, 26% of EFRA'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 51% of the fund across 79 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +5.6% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 11.6 pts. It sits 6.6% below its all-time high of Feb 27, 2026.

NFRA in plain words

By weight, 36% of NFRA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 29% of the fund across 179 positions, as filed for Jul 31, 2026. Over the year to Oct 9, 2026 the fund returned +5.5% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 11.7 pts. It sits 5.5% below its all-time high of Feb 27, 2026.

Questions people ask

Do EFRA and NFRA hold the same stocks?: By their latest filings, 2% 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, EFRA or NFRA?: EFRA has 26% of its weight in S&P 500 names and NFRA has 36%, so EFRA differs more from the index.
Which is cheaper, EFRA or NFRA?: EFRA and NFRA both charge 0.47% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

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EFRA on its own →NFRA on its own →How every figure is computed →Standards and sources →

Where these figures came from

EFRA filings on SEC EDGAR ↗EFRA prospectus with the expense ratio (SEC) ↗iShares page for EFRA ↗NFRA filings on SEC EDGAR ↗NFRA prospectus with the expense ratio (SEC) ↗

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.

Cite this page

ETFIQ, EFRA against NFRA, data as of Oct 9, 2026. https://etfiq.com/compare/themes/efra-vs-nfra

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.