Data as of Oct 28, 2026.
IFRA vs XAR: Holdings Overlap & Returns
Over the year to Oct 28, 2026, IFRA returned +9.4% to XAR's −10.0%; 1% of their weight is in the same names.
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Net assets on Oct 27, 2026: $4.0bn for iShares U.S. Infrastructure ETF and $5.0bn for State Street SPDR S&P Aerospace & Defense ETF.
72% of IFRA's weight is in S&P 500 companies and 28% is outside the index. Holdings as of Oct 27, 2026.
40% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Oct 27, 2026.
Pair scorecard
IFRA costs 0.05 points a year less; their one-year returns differ by 19.4 points; XAR is 1.3 times larger.
Points (pts) are percentage points.
| Measure | IFRA | XAR |
|---|---|---|
| Return | ||
| Total return, 1 year | +9.4% | −10.0% |
| Drawdown | ||
| Below its all-time high | 9.6%, high on Jun 25, 2026 | 24.1%, high on Aug 14, 2026 |
| Against its benchmark | ||
| What it tracks | Infrastructure | Defense |
| Against the S&P 500, 1 year | behind by 23.7 pts | |
| Its benchmark, total return, 1 year | +13.7% | |
| Against its benchmark, 1 year | behind by 23.7 pts | |
| Cost and size | ||
| Expense ratio | 0.30% | 0.35% |
| Net assets, as of Oct 27, 2026 | $4.0bn | $5.0bn |
| Holdings | ||
| Holdings in common | 1% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Apr 13, 2018 to Oct 23, 2026 · 445 weekly returnsIFRA and XAR returned about the same: +163.5% and +161.4%. IFRA swung less: 21.6% to 27.4%. IFRA fell less at its worst: −39.2% to −45.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IFRA | XAR | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +163.5% | +161.4% | Tie | Price change plus distributions, reinvested. |
| Annualized | +12.0% | +11.9% | Tie | Total return as a yearly rate. |
| Price return | +121.3% | +146.7% | XAR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 21.6% | 27.4% | IFRA | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.1% | 18.8% | IFRA | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −39.2% | −45.1% | IFRA | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.50 | 0.45 | IFRA | Return above Treasury bills per unit of volatility. |
| Sortino | 0.72 | 0.65 | IFRA (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.31 | 0.26 | IFRA | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 445 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IFRA and XAR hold 1% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
1% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | IFRA | XAR | IFRA | XAR |
| 3 months | −3.4% | −12.8% | not measured | −18.9 pts vs VOO |
| 6 months | −3.8% | −9.9% | not measured | −19.0 pts vs VOO |
| 1 year | +9.4% | −10.0% | not measured | −23.7 pts vs VOO |
| 3 years | +76.3% | +103.5% | not measured | +8.0 pts vs VOO |
| Since launchNot the same days: IFRA Apr 2018 · XAR Sep 2011 | +167.2% | +945.4% | not measured | +171.9 pts vs VOO |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
1% of the two portfolios are the same securities at the same weight.
IFRA and XAR are built for the same job. How do they differ in cost, holdings and results?
- Theme. IFRA covers Infrastructure and XAR covers Defense.
- What each follows. IFRA follows Infrastructure and XAR follows Defense.
- Holdings in common. 1% of the weight is in the same securities (holdings dated Oct 27, 2026).
Data as of Oct 28, 2026.
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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 Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +9.4% with distributions reinvested. It sits 9.6% below its all-time high of Jun 25, 2026.
XAR
By weight, 40% of XAR'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 32% of the fund across 50 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −10.0% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 23.7 pts. It sits 24.1% below its all-time high of Aug 14, 2026.
Questions people ask
- Do IFRA and XAR hold the same stocks?
- By their latest filings, 1% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, IFRA against XAR, data as of Oct 28, 2026. https://etfiq.com/compare/themes/ifra-vs-xar
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[IFRA against XAR (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/ifra-vs-xar)
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