Do IFRA and NFRA hold the same stocks?

By their latest filings, 7% 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 NFRA?

IFRA has 72% of its weight in S&P 500 names and NFRA has 36%, so NFRA differs more from the index.

Which is cheaper, IFRA or NFRA?

IFRA charges 0.30% a year and NFRA charges 0.47%, so IFRA is cheaper. Fees come from each fund's prospectus.

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IFRA vs NFRA: which is really different?

IFRA and NFRA hold 7% of their weight in the same names, and IFRA returned +9.5% over the year. iShares U.S. Infrastructure ETF and Northern Trust STOXX Global Broad Infrastructure ETF.

IFRA costs 0.17 points a year less; their one-year returns differ by 4.0 points; IFRA is 1.3 times larger.

	IFRA	NFRA
Expense ratio	0.30%	0.47%
Net assets, IFRA as of Oct 8, 2026 and NFRA as of Jul 31, 2026	$4.0bn	$3.0bn
Total return, 1 year	+9.5%	+5.5%
What it tracks	Infrastructure	Infrastructure
Holdings in common	7%
S&P 500, total return, 1 year	+17.3%
Against the S&P 500, 1 year	behind by 7.8 pts	behind by 11.7 pts
Below its all-time high	10.6%, high on Jun 25, 2026	5.5%, high on Feb 27, 2026

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

71.7%

IFRA in the S&P 500

35.8%

NFRA in the S&P 500

+9.5%

IFRA total return, 1 year

+5.5%

NFRA total return, 1 year

IFRA · 1 year to Oct 9, 202628% of its weight is outside the S&P 500

72% of IFRA's weight is in S&P 500 companies and 28% 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 · NFRA scores higherHow much of it is not the index it is sold as an alternative to?

IFRA 34.7

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, IFRA and NFRA hold 7% 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

7% in common

Positions both hold, largest shared weight first

Holding IFRA NFRA

DUKE ENERGY CORP 2.69% 1.35%

CONSTELLATION ENERGY CORP 2.85% 1.23%

NORFOLK SOUTHERN CORP 2.85% 1.04%

SEMPRA 1.54% 0.80%

ENTERGY CORP 1.41% 0.68%

XCEL ENERGY INC 1.35% 0.67%

EXELON CORP 1.27% 0.64%

ESSENTIAL UTILITIES INC 0.32% 0.14%

CALIFORNIA WATER SERVICE GROUP 0.08% 0.04%

H2O AMERICA 0.07% 0.03%

Only in IFRA

QUANTA SERVICES INC 4.08%

CATERPILLAR INC 4.07%

UNION PACIFIC 4.00%

NEXTERA ENERGY 3.86%

CSX 3.51%

SOUTHERN 2.92%

UNITED RENTALS 2.60%

WILLIAMS 2.60%

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%

7% 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	NFRA	IFRA	NFRA	IFRA	NFRA
3 months	−7.3%	−3.7%	−10.6 pts	−7.1 pts	−10.9 pts	−7.4 pts
6 months	−3.9%	−2.5%	−19.1 pts	−17.7 pts	−27.1 pts	−25.7 pts
1 year	+9.5%	+5.5%	−7.8 pts	−11.7 pts	−14.1 pts	−18.1 pts
3 years	+64.5%	+45.2%	−21.3 pts	−40.6 pts	−42.8 pts	−62.1 pts
Since launch IFRA Apr 2018 · NFRA Oct 2013	+164.1%	+127.4%	−69.5 pts	−358.0 pts	−230.2 pts	−857.4 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

IFRA

iShares U.S. Infrastructure ETF · Holds 164 stocks in infrastructure, 72% 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 71.7% 35.8%

Active share vs the S&P 500 95.7% 96.1%

In the Nasdaq-100 10.9% 7.4%

Holdings 164 179

Top ten, share of the fund 33.4% 28.6%

Expense ratio 0.30% 0.47%

Fee for the differing part 0.31% 0.49%

Total return, 1 year +9.5% +5.5%

vs the S&P 500 −7.8 pts −11.7 pts

vs the Nasdaq-100 −14.1 pts −18.1 pts

Below its high −10.6% −5.5%

Net assets, IFRA as of Oct 8, 2026 and NFRA as of Jul 31, 2026 $4.0bn $3.0bn

As of Oct 9, 2026. Source: ETFIQ.

IFRA in plain words

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 Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +9.5% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 7.8 pts. It sits 10.6% below its all-time high of Jun 25, 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 IFRA and NFRA hold the same stocks?: By their latest filings, 7% 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 NFRA?: IFRA has 72% of its weight in S&P 500 names and NFRA has 36%, so NFRA differs more from the index.
Which is cheaper, IFRA or NFRA?: IFRA charges 0.30% a year and NFRA charges 0.47%, so IFRA is cheaper. Fees come from each fund's prospectus.

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IFRA on its own →NFRA 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 ↗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, IFRA against NFRA, data as of Oct 9, 2026. https://etfiq.com/compare/themes/ifra-vs-nfra

Open data

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