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IPAV vs NGIF: which is really different?

NGIF holds 50.1% of its weight in S&P 500 companies and IPAV 0.0%. Global X Infrastructure Development ex-U.S. ETF and Nuveen Global Infrastructure Fund: ETF Class Shares.

IPAV costs 0.33 points a year less.

IPAVNGIF
Expense ratio0.55%0.88%
Net assets$5mnot read by ETFIQ
Total return, 1 year+6.7%not published
What it tracksInfrastructureInfrastructure
Holdings in commonnot published
S&P 500, total return, 1 year+17.3%
S&P 500, total return, since Jun 3, 2026+3.8%
Against the S&P 500, 1 yearbehind by 10.5 pts
Against the S&P 500, since Jun 3, 2026behind by 8.3 pts
Below its all-time high14.3%, high on May 6, 20268.6%, high on Jun 26, 2026
0.0%
IPAV in the S&P 500
50.1%
NGIF in the S&P 500
+6.7%
IPAV total return, 1 year
−4.5%
NGIF total return, since launch
IPAV · 1 year to Oct 9, 2026100% of its weight is outside the S&P 500
100% of its weight is outside the S&P 5000% of IPAV's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 8, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · top ten 31% of the fund · 100 holdings as published by its issuer for Oct 8, 2026 · Nasdaq-100: 0% in100% of its weight is outside the S&P 5000% of IPAV's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 8, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · Nasdaq-100: 0% in

0% of IPAV's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 8, 2026.

NGIF · 3 months to Oct 9, 202650% of its weight is outside the S&P 500
50% of its weight is outside the S&P 50050% of NGIF's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jun 30, 2026.50%50%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 39% of the fund · 66 holdings as filed for Jun 30, 2026 · Nasdaq-100: 12% in50% of its weight is outside the S&P 50050% of NGIF's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jun 30, 2026.50%50%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 12% in

50% of NGIF's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jun 30, 2026.

ETFIQ Off-Index Score · IPAV 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
WindowIPAVNGIFIPAVNGIFIPAVNGIF
3 months−5.1%−7.8%−8.5 pts−11.2 pts−8.7 pts−11.5 pts
6 months−7.1%not published−22.3 ptsnot published−30.3 ptsnot published
1 year+6.7%not published−10.5 ptsnot published−16.9 ptsnot published
Since launch
IPAV Aug 2024 · NGIF Jun 2026
+24.2%−4.5%−18.9 pts−8.3 pts−37.0 pts−5.7 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

IPAV
Global X Infrastructure Development ex-U.S. ETF · Holds 100 stocks in infrastructure, 0% of its weight in S&P 500 companies
NGIF
Nuveen Global Infrastructure Fund: ETF Class Shares · Holds 66 stocks in infrastructure, 50% of its weight in S&P 500 companies
Issuer Global X Nuveen
Theme Infrastructure Infrastructure
In the S&P 500 0.0% 50.1%
Active share vs the S&P 500 100.0% 97.7%
In the Nasdaq-100 0.0% 11.7%
Holdings 100 66
Top ten, share of the fund 31.1% 39.1%
Expense ratio 0.55% 0.88%
Fee for the differing part 0.55% 0.90%
Total return, 1 year +6.7% −4.5% (since it first traded on Jun 3, 2026)
vs the S&P 500 −10.5 pts −8.3 pts
vs the Nasdaq-100 −16.9 pts −5.7 pts
Below its high −14.3% −8.6%
Net assets $5m not read by ETFIQ

As of Oct 9, 2026. Source: ETFIQ.

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 100 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +6.7% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 10.5 pts. It sits 14.3% below its all-time high of May 6, 2026.

NGIF in plain words

By weight, 50% of NGIF'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 39% of the fund across 66 positions, as filed for Jun 30, 2026. Since it first traded on Jun 3, 2026 the fund returned −4.5% with distributions reinvested against +3.8% for the S&P 500, so a holder was behind by 8.3 pts. It sits 8.6% below its all-time high of Jun 26, 2026.

Questions people ask

Which is more different from the S&P 500, IPAV or NGIF?
IPAV has 0% of its weight in S&P 500 names and NGIF has 50%, so IPAV differs more from the index.
Which is cheaper, IPAV or NGIF?
IPAV charges 0.55% a year and NGIF charges 0.88%, so IPAV is cheaper. Fees come from each fund's prospectus.
Other comparisons
IPAV vs BKGIIPAV vs NFRAIPAV vs NFRXIPAV vs PAVENGIF vs RBLDNGIF vs RIFRNGIF vs CSIONGIF vs UPGR
IPAV on its own →NGIF on its own →How every figure is computed →Standards and sources →
Where these figures came from
IPAV filings on SEC EDGAR ↗IPAV prospectus with the expense ratio (SEC) ↗Global X page for IPAV ↗NGIF filings on SEC EDGAR ↗NGIF 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.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this page

ETFIQ, IPAV against NGIF, data as of Oct 9, 2026. https://etfiq.com/compare/themes/ipav-vs-ngif

Open data

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