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IFRA vs NFRX: which is really different?

IFRA holds 71.7% of its weight in S&P 500 companies and NFRX 56.3%. iShares U.S. Infrastructure ETF and Harrison Street Infrastructure Active ETF.

IFRA costs 0.50 points a year less; IFRA is far larger, $4.0bn against $106m.

IFRANFRX
Expense ratio0.30%0.80%
Net assets, IFRA as of Oct 8, 2026 and NFRX as of Jun 30, 2026$4.0bn$106m
Total return, 1 year+9.5%not published
What it tracksInfrastructureInfrastructure
Holdings in commonnot published
S&P 500, total return, 1 year+17.3%
S&P 500, total return, since Jan 30, 2026+13.4%
Against the S&P 500, 1 yearbehind by 7.8 pts
Against the S&P 500, since Jan 30, 2026behind by 12.8 pts
Below its all-time high10.6%, high on Jun 25, 20268.7%, high on Feb 27, 2026
71.7%
IFRA in the S&P 500
56.3%
NFRX in the S&P 500
+9.5%
IFRA total return, 1 year
+0.6%
NFRX total return, since launch
IFRA · 1 year to Oct 9, 202628% 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 Oct 8, 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 Oct 8, 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 Oct 8, 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 Oct 8, 2026.

NFRX · 6 months to Oct 9, 202644% of its weight is outside the S&P 500
44% of its weight is outside the S&P 50056% of NFRX's weight is in S&P 500 companies and 44% is outside the index. Holdings as of Jun 30, 2026.56%44%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 44% of the fund · 34 holdings as filed for Jun 30, 2026 · Nasdaq-100: 13% in44% of its weight is outside the S&P 50056% of NFRX's weight is in S&P 500 companies and 44% is outside the index. Holdings as of Jun 30, 2026.56%44%in the S&P 500outsideactive share 98% · Nasdaq-100: 13% in

56% of NFRX's weight is in S&P 500 companies and 44% is outside the index. Holdings as of Jun 30, 2026.

ETFIQ Off-Index Score · NFRX 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 →

Performance, window by window

Total returnvs the S&P 500vs the Nasdaq-100
WindowIFRANFRXIFRANFRXIFRANFRX
3 months−7.3%−7.3%−10.6 pts−10.7 pts−10.9 pts−10.9 pts
6 months−3.9%−7.8%−19.1 pts−22.9 pts−27.1 pts−31.0 pts
1 year+9.5%not published−7.8 ptsnot published−14.1 ptsnot published
3 years+64.5%not published−21.3 ptsnot published−42.8 ptsnot published
Since launch
IFRA Apr 2018 · NFRX Jan 2026
+164.1%+0.6%−69.5 pts−12.8 pts−230.2 pts−20.6 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
NFRX
Harrison Street Infrastructure Active ETF · Holds 34 stocks in infrastructure, 56% of its weight in S&P 500 companies
Issuer iShares not established
Theme Infrastructure Infrastructure
In the S&P 500 71.7% 56.3%
Active share vs the S&P 500 95.7% 98.2%
In the Nasdaq-100 10.9% 13.4%
Holdings 164 34
Top ten, share of the fund 33.4% 44.1%
Expense ratio 0.30% 0.80%
Fee for the differing part 0.31% 0.81%
Total return, 1 year +9.5% +0.6% (since it first traded on Jan 30, 2026)
vs the S&P 500 −7.8 pts −12.8 pts
vs the Nasdaq-100 −14.1 pts −20.6 pts
Below its high −10.6% −8.7%
Net assets, IFRA as of Oct 8, 2026 and NFRX as of Jun 30, 2026 $4.0bn $106m

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.

NFRX in plain words

By weight, 56% of NFRX'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 44% of the fund across 34 positions, as filed for Jun 30, 2026. Since it first traded on Jan 30, 2026 the fund returned +0.6% with distributions reinvested against +13.4% for the S&P 500, so a holder was behind by 12.8 pts. It sits 8.7% below its all-time high of Feb 27, 2026.

Questions people ask

Which is more different from the S&P 500, IFRA or NFRX?
IFRA has 72% of its weight in S&P 500 names and NFRX has 56%, so NFRX differs more from the index.
Which is cheaper, IFRA or NFRX?
IFRA charges 0.30% a year and NFRX charges 0.80%, so IFRA is cheaper. Fees come from each fund's prospectus.
Other comparisons
IFRA vs RIFRIFRA vs IPAVIFRA vs NFRAIFRA vs UPGRNFRX vs IGFNFRX vs BKGINFRX vs PAVENFRX vs BILT
IFRA on its own →NFRX 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 ↗NFRX filings on SEC EDGAR ↗

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.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this page

ETFIQ, IFRA against NFRX, data as of Oct 9, 2026. https://etfiq.com/compare/themes/ifra-vs-nfrx

Open data

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