Do NFRA and TOLZ hold the same stocks?

By their latest filings, 18% 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, NFRA or TOLZ?

NFRA has 36% of its weight in S&P 500 names and TOLZ has 34%, so TOLZ differs more from the index.

Which is cheaper, NFRA or TOLZ?

NFRA charges 0.47% a year and TOLZ charges 0.46%, so TOLZ is cheaper. Fees come from each fund's prospectus.

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NFRA vs TOLZ: which is really different?

NFRA and TOLZ hold 18% of their weight in the same names, and TOLZ returned +8.1% over the year. Northern Trust STOXX Global Broad Infrastructure ETF and ProShares DJ Brookfield Global Infrastructure ETF.

TOLZ costs 0.01 points a year less; their one-year returns differ by 2.6 points; NFRA is 18.5 times larger.

	NFRA	TOLZ
Expense ratio	0.47%	0.46%
Net assets, NFRA as of Jul 31, 2026 and TOLZ as of Oct 9, 2026	$3.0bn	$162m
Total return, 1 year	+5.5%	+8.1%
What it tracks	Infrastructure	Infrastructure
Holdings in common	18%
S&P 500, total return, 1 year	+17.3%
Against the S&P 500, 1 year	behind by 11.7 pts	behind by 9.2 pts
Below its all-time high	5.5%, high on Feb 27, 2026	7.5%, high on Mar 2, 2026

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

35.8%

NFRA in the S&P 500

33.9%

TOLZ in the S&P 500

+5.5%

NFRA total return, 1 year

+8.1%

TOLZ total return, 1 year

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.

TOLZ · 1 year to Oct 9, 202666% of its weight is outside the S&P 500

34% of TOLZ's weight is in S&P 500 companies and 66% is outside the index. Holdings as of Oct 8, 2026.

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

NFRA 35.3

TOLZ 60.6

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, NFRA and TOLZ hold 18% 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

18% in common

Positions both hold, largest shared weight first

Holding NFRA TOLZ

Enbridge, Inc. 1.83% 5.80%

Transurban Group 1.53% 1.98%

National Grid plc 1.29% 5.40%

American Tower Corp. 1.11% 3.85%

TC Energy Corp. 1.08% 3.51%

Aena SME SA 1.07% 1.43%

Kinder Morgan, Inc. 0.87% 3.13%

Sempra 0.80% 2.59%

Targa Resources Corp. 0.80% 3.06%

ONEOK, Inc. 0.79% 2.82%

Cheniere Energy, Inc. 0.76% 2.84%

E.ON SE 0.75% 2.97%

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%

Only in TOLZ

WILLIAMS COS INC 4.38%

VINCI SA 4.16%

ENERGY TRANSFER LP 3.16%

ENTERPRISE PRODUCTS PARTNERS 2.63%

CONSOLIDATED EDISON INC 1.94%

FORTIS INC 1.92%

FERROVIAL NV 1.66%

P G & E CORP 1.38%

18% 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	NFRA	TOLZ	NFRA	TOLZ	NFRA	TOLZ
3 months	−3.7%	−5.5%	−7.1 pts	−8.8 pts	−7.4 pts	−9.1 pts
6 months	−2.5%	−6.9%	−17.7 pts	−22.1 pts	−25.7 pts	−30.1 pts
1 year	+5.5%	+8.1%	−11.7 pts	−9.2 pts	−18.1 pts	−15.5 pts
3 years	+45.2%	+51.4%	−40.6 pts	−34.4 pts	−62.1 pts	−55.9 pts
Since launch NFRA Oct 2013 · TOLZ Mar 2014	+127.4%	+111.3%	−358.0 pts	−308.8 pts	−857.4 pts	−740.8 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

NFRA

Northern Trust STOXX Global Broad Infrastructure ETF · Holds 179 stocks in infrastructure, 36% of its weight in S&P 500 companies

TOLZ

ProShares DJ Brookfield Global Infrastructure ETF · Holds 115 stocks in infrastructure, 34% of its weight in S&P 500 companies

Issuer Northern Trust ProShares

Theme Infrastructure Infrastructure

In the S&P 500 35.8% 33.9%

Active share vs the S&P 500 96.1% 98.9%

In the Nasdaq-100 7.4% 2.1%

Holdings 179 115

Top ten, share of the fund 28.6% 39.4%

Expense ratio 0.47% 0.46%

Fee for the differing part 0.49% 0.47%

Total return, 1 year +5.5% +8.1%

vs the S&P 500 −11.7 pts −9.2 pts

vs the Nasdaq-100 −18.1 pts −15.5 pts

Below its high −5.5% −7.5%

Net assets, NFRA as of Jul 31, 2026 and TOLZ as of Oct 9, 2026 $3.0bn $162m

As of Oct 9, 2026. Source: ETFIQ.

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.

TOLZ in plain words

By weight, 34% of TOLZ's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 39% of the fund across 115 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +8.1% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 9.2 pts. It sits 7.5% below its all-time high of Mar 2, 2026.

Questions people ask

Do NFRA and TOLZ hold the same stocks?: By their latest filings, 18% 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, NFRA or TOLZ?: NFRA has 36% of its weight in S&P 500 names and TOLZ has 34%, so TOLZ differs more from the index.
Which is cheaper, NFRA or TOLZ?: NFRA charges 0.47% a year and TOLZ charges 0.46%, so TOLZ is cheaper. Fees come from each fund's prospectus.

Other comparisons

NFRA vs BLDX NFRA vs BILT NFRA vs NFRX NFRA vs RIFR TOLZ vs BKGI TOLZ vs GII TOLZ vs BLDX TOLZ vs BILT

NFRA on its own →TOLZ on its own →How every figure is computed →Standards and sources →

Where these figures came from

NFRA filings on SEC EDGAR ↗NFRA prospectus with the expense ratio (SEC) ↗TOLZ filings on SEC EDGAR ↗ProShares page for TOLZ ↗

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, NFRA against TOLZ, data as of Oct 9, 2026. https://etfiq.com/compare/themes/nfra-vs-tolz

Open data

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