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GII vs UPGR: which is really different?

GII and UPGR hold 0% of their weight in the same names, and GII returned +5.1% over the year. State Street(R) SPDR(R) S&P(R) Global Infrastructure ETF and Xtrackers US Green Infrastructure Select Equity ETF.

UPGR costs 0.05 points a year less; their one-year returns differ by 16.3 points; GII is far larger, $911m against $539,786.

GIIUPGR
Expense ratio0.40%0.35%
Net assets, as of Oct 8, 2026$911m$539,786
Total return, 1 year+5.1%−11.2%
What it tracksInfrastructureInfrastructure
Holdings in common0%
S&P 500, total return, 1 year+17.3%
Against the S&P 500, 1 yearbehind by 12.2 ptsbehind by 28.5 pts
Below its all-time high8.5%, high on Feb 27, 202626.8%, high on Jun 2, 2026

Holdings in common uses holdings dated May 29, 2026 and Oct 8, 2026.

35.0%
GII in the S&P 500
22.9%
UPGR in the S&P 500
+5.1%
GII total return, 1 year
−11.2%
UPGR total return, 1 year
GII · 1 year to Oct 9, 202665% of its weight is outside the S&P 500
65% of its weight is outside the S&P 50035% of GII's weight is in S&P 500 companies and 65% is outside the index. Holdings as of Oct 8, 2026.35%65%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 38% of the fund · 77 holdings as published by its issuer for Oct 8, 2026 · Nasdaq-100: 7% in65% of its weight is outside the S&P 50035% of GII's weight is in S&P 500 companies and 65% is outside the index. Holdings as of Oct 8, 2026.35%65%inoutside the S&P 500active share 98% · Nasdaq-100: 7% in

35% of GII's weight is in S&P 500 companies and 65% is outside the index. Holdings as of Oct 8, 2026.

UPGR · 1 year to Oct 9, 202677% of its weight is outside the S&P 500
77% of its weight is outside the S&P 50023% of UPGR's weight is in S&P 500 companies and 77% is outside the index. Holdings as of May 29, 2026.23%77%in the S&P 500of its weight outside the S&P 500active share 97% · top ten 34% of the fund · 45 holdings as filed for May 29, 2026 · Nasdaq-100: 2% in77% of its weight is outside the S&P 50023% of UPGR's weight is in S&P 500 companies and 77% is outside the index. Holdings as of May 29, 2026.23%77%inoutside the S&P 500active share 97% · Nasdaq-100: 2% in

23% of UPGR's weight is in S&P 500 companies and 77% is outside the index. Holdings as of May 29, 2026.

ETFIQ Off-Index Score · GII scores higherHow much of it is not the index it is sold as an alternative to?
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, GII and UPGR hold 0% 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 May 29, 2026 and Oct 8, 2026.

half

0% in common

Positions both hold, largest shared weight first
Holding GII UPGR
Only in GII
TRANSURBAN GROUP 4.83%
AENA SME SA 4.72%
NEXTERA ENERGY INC 4.70%
IBERDROLA SA 4.13%
GRUPO AEROPORTUARIO PAC ADR 3.63%
ENBRIDGE INC 3.60%
AUCKLAND INTL AIRPORT LTD 3.58%
WILLIAMS COS INC 3.08%
Only in UPGR
FUELCELL ENERGY INC 6.23%
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 2.88%
QUANTUMSCAPE CORP 2.74%
PLUG POWER INC 2.72%

0% of the two portfolios are the same securities at the same weight.

Performance, window by window

Total returnvs the S&P 500vs the Nasdaq-100
WindowGIIUPGRGIIUPGRGIIUPGR
3 months−6.2%−14.2%−9.6 pts−17.6 pts−9.9 pts−17.9 pts
6 months−7.6%−9.7%−22.8 pts−24.8 pts−30.8 pts−32.9 pts
1 year+5.1%−11.2%−12.2 pts−28.5 pts−18.5 pts−34.8 pts
3 years+61.5%+13.7%−24.3 pts−72.1 pts−45.8 pts−93.6 pts
Since launch
GII Jan 2007 · UPGR Jul 2023
+168.3%−10.4%−508.6 pts−90.6 pts−1,721.3 pts−112.2 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

GII
State Street(R) SPDR(R) S&P(R) Global Infrastructure ETF · Holds 77 stocks in infrastructure, 35% 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 State Street Xtrackers
Theme Infrastructure Infrastructure
In the S&P 500 35.0% 22.9%
Active share vs the S&P 500 98.1% 97.4%
In the Nasdaq-100 7.3% 2.4%
Holdings 77 45
Top ten, share of the fund 38.0% 33.8%
Expense ratio 0.40% 0.35%
Fee for the differing part 0.41% 0.36%
Total return, 1 year +5.1% −11.2%
vs the S&P 500 −12.2 pts −28.5 pts
vs the Nasdaq-100 −18.5 pts −34.8 pts
Below its high −8.5% −26.8%
Net assets, as of Oct 8, 2026 $911m $539,786

As of Oct 9, 2026. Source: ETFIQ.

GII in plain words

By weight, 35% of GII'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 38% of the fund across 77 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +5.1% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 12.2 pts. It sits 8.5% below its all-time high of Feb 27, 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 Oct 9, 2026 the fund returned −11.2% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 28.5 pts. It sits 26.8% below its all-time high of Jun 2, 2026.

Questions people ask

Do GII and UPGR hold the same stocks?
By their latest filings, 0% 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, GII or UPGR?
GII has 35% of its weight in S&P 500 names and UPGR has 23%, so GII differs more from the index.
Which is cheaper, GII or UPGR?
GII charges 0.40% a year and UPGR charges 0.35%, so UPGR is cheaper. Fees come from each fund's prospectus.
Other comparisons
GII vs IPAVGII vs EFRAGII vs GLIXGII vs RBLDUPGR vs IFRAUPGR vs IGFUPGR vs NFRAUPGR vs BILT
GII on its own →UPGR on its own →How every figure is computed →Standards and sources →
Where these figures came from
GII filings on SEC EDGAR ↗State Street website ↗UPGR filings on SEC EDGAR ↗UPGR prospectus with the expense ratio (SEC) ↗Xtrackers website ↗

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, GII against UPGR, data as of Oct 9, 2026. https://etfiq.com/compare/themes/gii-vs-upgr

Open data

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