Do IFRA and IPAV 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, IFRA or IPAV?

IFRA has 71% of its weight in S&P 500 names and IPAV has 0%, so IPAV differs more from the index.

Which is cheaper, IFRA or IPAV?

IFRA charges 0.30% a year and IPAV charges 0.55%, so IFRA is cheaper. Fees come from each fund's prospectus.

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IFRA vs IPAV: which is really different?

IFRA and IPAV hold 0% of their weight in the same names, and IPAV returned +10.0% over the year. iShares U.S. Infrastructure ETF and Global X Infrastructure Development ex-U.S. ETF.

71.3%

IFRA in the S&P 500

0.0%

IPAV in the S&P 500

+6.1%

IFRA total return, 1 year

+10.0%

IPAV total return, 1 year

IFRA · 1 year to Sep 30, 202629% of its weight is outside the S&P 500

71% of IFRA's weight is in S&P 500 companies and 29% is outside the index

IPAV · 1 year to Sep 30, 2026100% of its weight is outside the S&P 500

0% of IPAV's weight is in S&P 500 companies and 100% is outside the index

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

IFRA 35.6

IPAV 92

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, IFRA and IPAV 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 Sep 29, 2026 and Sep 30, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding IFRA IPAV

Only in IFRA

CATERPILLAR INC 4.32%

UNION PACIFIC 4.02%

QUANTA SERVICES INC 3.96%

NEXTERA ENERGY 3.87%

CSX 3.55%

SOUTHERN 2.89%

NORFOLK SOUTHERN CORP 2.87%

CONSTELLATION ENERGY CORP 2.71%

Only in IPAV

FUJIKURA LTD 3.57%

CANADIAN NATL RAILWAY CO 3.43%

ARCELORMITTAL 3.36%

CANADIAN PACIFIC KANSAS CITY 3.25%

LARSEN & TOUBRO LTD 3.14%

NIPPON STEEL CORP 3.07%

VINCI SA 2.83%

SHIN-ETSU CHEMICAL CO LTD 2.81%

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

0% 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	IFRA	IPAV	IFRA	IPAV	IFRA	IPAV
3 months	−10.7%	−3.4%	−13.2 pts	−5.9 pts	−12.8 pts	−5.5 pts
6 months	−3.9%	+0.1%	−20.9 pts	−16.9 pts	−30.8 pts	−26.8 pts
1 year	+6.1%	+10.0%	−9.7 pts	−5.7 pts	−17.7 pts	−13.8 pts
3 years	+59.0%	not published	−26.0 pts	not published	−51.0 pts	not published
Since launch IFRA Apr 2018 · IPAV Aug 2024	+155.0%	+26.1%	−71.8 pts	−14.1 pts	−231.8 pts	−32.7 pts

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

On the same fields

IFRA

iShares U.S. Infrastructure ETF · Holds 168 stocks in infrastructure, 71% of its weight in S&P 500 companies

IPAV

Global X Infrastructure Development ex-U.S. ETF · Holds 109 stocks in infrastructure, 0% of its weight in S&P 500 companies

Issuer iShares Global X

Theme Infrastructure Infrastructure

In the S&P 500 71.3% 0.0%

Active share vs the S&P 500 95.7% 100.0%

In the Nasdaq-100 10.8% 0.0%

Holdings 168 109

Top ten, share of the fund 33.4% 30.9%

Expense ratio 0.30% 0.55%

Fee for the differing part 0.31% 0.55%

Total return, 1 year +6.1% +10.0%

vs the S&P 500 −9.7 pts −5.7 pts

vs the Nasdaq-100 −17.7 pts −13.8 pts

Below its high −13.7% −13.0%

Net assets $3.9bn $5m

IFRA and IPAV on the same fields, as of Sep 30, 2026. Source: ETFIQ.

IFRA in plain words

By weight, 71% 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 168 positions, as published by its issuer for Sep 29, 2026. Over the year to Sep 30, 2026 the fund returned +6.1% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 9.7 pts. It sits 13.7% below its all-time high of Jun 25, 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 109 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +10.0% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 5.7 pts. It sits 13.0% below its all-time high of May 6, 2026.

Questions people ask

Do IFRA and IPAV 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, IFRA or IPAV?: IFRA has 71% of its weight in S&P 500 names and IPAV has 0%, so IPAV differs more from the index.
Which is cheaper, IFRA or IPAV?: IFRA charges 0.30% a year and IPAV charges 0.55%, so IFRA is cheaper. Fees come from each fund's prospectus.

Other comparisons

IFRA vs IGV IFRA vs ITA IFRA vs NLR IFRA vs PAVE IPAV vs UPGR IPAV vs RBLD IPAV vs BLDX IPAV vs PAVE

IFRA on its own →IPAV on its own →How every figure is computed →Standards and sources →

Where these figures came from

IFRA filings on SEC EDGAR ↗IFRA prospectus with the expense ratio (SEC) ↗iShares page for IFRA ↗IPAV filings on SEC EDGAR ↗IPAV prospectus with the expense ratio (SEC) ↗Global X page for IPAV ↗

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, IFRA against IPAV, data as of Sep 30, 2026. https://etfiq.com/compare/themes/ifra-vs-ipav

Open data

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