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Data as of Nov 4, 2026.

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Thematic ETFs

GUNR vs IFRA: Holdings Overlap & Returns

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IFRA holds 71.7% of its weight in S&P 500 companies and GUNR 27.1%.

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Net assets: $7.2bn on Jul 31, 2026 for Northern Trust Morningstar Global Upstream Natural Resources ETF, and $4.1bn on Nov 3, 2026 for iShares U.S. Infrastructure ETF.

GUNR on its own →IFRA on its own →
At a glance
27.1%
GUNR in the S&P 500
71.7%
IFRA in the S&P 500
+26.8%
GUNR total return, 1 year
+13.0%
IFRA total return, 1 year
GUNR · 1 year to Nov 4, 2026 73% of its weight is outside the S&P 500
73% of its weight is outside the S&P 50027% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.27%73%in the S&P 500of its weight outside the S&P 500active share 98% · top ten 37% of the fund · 135 holdings as filed for Jul 31, 2026 · Nasdaq-100: 0% in73% of its weight is outside the S&P 50027% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.27%73%inoutside the S&P 500active share 98% · Nasdaq-100: 0% in

27% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.

IFRA · 1 year to Nov 4, 2026 28% of its weight is outside the S&P 500
28% of its weight is outside the S&P 50072% of IFRA's weight is in S&P 500 companies and 28% is outside the index. Holdings as of Nov 3, 2026.72%28%of its weight in S&P 500 companiesoutside the S&P 500active share 96% · top ten 33% of the fund · 164 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 11% in28% of its weight is outside the S&P 50072% of IFRA's weight is in S&P 500 companies and 28% is outside the index. Holdings as of Nov 3, 2026.72%28%in the S&P 500outsideactive share 96% · Nasdaq-100: 11% in

72% of IFRA's weight is in S&P 500 companies and 28% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

IFRA costs 0.16 points a year less; their one-year returns differ by 13.8 points.

GUNR vs IFRA: Holdings Overlap & Returns
MeasureGUNRIFRA
Return
Total return, 1 year+26.8%+13.0%
Drawdown
Below its all-time high7.5%, high on Sep 9, 20269.1%, high on Jun 25, 2026
Benchmark
What it tracksNatural resourcesInfrastructure
Cost and size
Expense ratio0.46%0.30%
Net assets, GUNR as of Jul 31, 2026 and IFRA as of Nov 3, 2026$7.2bn$4.1bn
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: GUNR vs IFRA: Holdings Overlap & Returns
Total return
WindowGUNRIFRA
3 months+1.3%−5.1%
6 months−2.5%−7.1%
1 year+26.8%+13.0%
3 years+45.4%+66.7%
Since launchNot the same days: GUNR Sep 2011 · IFRA Apr 2018+149.3%+168.6%

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Side by side

GUNR Northern Trust Morningstar Global Upstream Natural Resources ETF · Holds 135 stocks in natural resources, 27% of its weight in S&P 500 companies IFRA iShares U.S. Infrastructure ETF · Holds 164 stocks in infrastructure, 72% of its weight in S&P 500 companies
Issuer Northern Trust iShares
Theme Natural resources Infrastructure
In the S&P 500 27.1% 71.7%
Active share vs the S&P 500 98.3% 95.7%
In the Nasdaq-100 0.4% 10.9%
Holdings 135 164
Top ten, share of the fund 36.6% 33.0%
Expense ratio 0.46% 0.30%
Fee for the differing part 0.47% 0.31%
Total return, 1 year +26.8% +13.0%
vs its benchmark not measured not measured
Below its high −7.5% −9.1%
Net assets, GUNR as of Jul 31, 2026 and IFRA as of Nov 3, 2026 $7.2bn $4.1bn

As of Nov 4, 2026. Source: ETFIQ.

Client brief:

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About each fund
GUNR

By weight, 27% of GUNR'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 37% of the fund across 135 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +26.8% with distributions reinvested. It sits 7.5% below its all-time high of Sep 9, 2026.

IFRA

By weight, 72% of IFRA'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 33% of the fund across 164 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +13.0% with distributions reinvested. It sits 9.1% below its all-time high of Jun 25, 2026.

Questions people ask

Which is more different from the S&P 500, GUNR or IFRA?
GUNR has 27% of its weight in S&P 500 names and IFRA has 72%, so GUNR differs more from the index.
Which is cheaper, GUNR or IFRA?
GUNR charges 0.46% a year and IFRA charges 0.30%, so IFRA is cheaper. Fees come from each fund's prospectus.
Other comparisons
GUNR vs IGFGUNR vs PAVEGUNR vs SMHGUNR vs KWEBIFRA vs GNRIFRA vs NLRIFRA vs ARKGIFRA vs SMH
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GUNR on its own →IFRA on its own →GUNR dividend history →IFRA dividend history →IFRA holdings →Method →Standards and sources →
Sources and dates
GUNR filings on SEC EDGAR ↗
GUNR prospectus with the expense ratio (SEC) ↗
Northern Trust website ↗
IFRA filings on SEC EDGAR ↗
IFRA prospectus with the expense ratio (SEC) ↗
iShares page for IFRA ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, GUNR against IFRA, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gunr-vs-ifra

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