Which is more different from the S&P 500, NFRX or PAVE?

NFRX has 56% of its weight in S&P 500 names and PAVE has 64%, so NFRX differs more from the index.

Which is cheaper, NFRX or PAVE?

NFRX charges 0.80% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.

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NFRX vs PAVE: which is really different?

PAVE holds 63.9% of its weight in S&P 500 companies and NFRX 56.3%. Harrison Street Infrastructure Active ETF and Global X U.S. Infrastructure Development ETF.

PAVE costs 0.33 points a year less; PAVE is far larger, $13.6bn against $106m.

	NFRX	PAVE
Expense ratio	0.80%	0.47%
Net assets, NFRX as of Jun 30, 2026 and PAVE as of Oct 8, 2026	$106m	$13.6bn
Total return, 1 year	not published	+13.2%
What it tracks	Infrastructure	Infrastructure
Holdings in common	not published
S&P 500, total return, since Jan 30, 2026	+13.4%
S&P 500, total return, 1 year		+17.3%
Against the S&P 500, since Jan 30, 2026	behind by 12.8 pts
Against the S&P 500, 1 year		behind by 4.1 pts
Below its all-time high	8.7%, high on Feb 27, 2026	10.8%, high on Jun 25, 2026

56.3%

NFRX in the S&P 500

63.9%

PAVE in the S&P 500

+0.6%

NFRX total return, since launch

+13.2%

PAVE total return, 1 year

NFRX · 6 months to Oct 9, 202644% of its weight is outside the S&P 500

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

PAVE · 1 year to Oct 9, 202636% of its weight is outside the S&P 500

64% of PAVE's weight is in S&P 500 companies and 36% is outside the index. Holdings as of Oct 8, 2026.

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

NFRX 52.9

PAVE 40.2

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 return		vs the S&P 500		vs the Nasdaq-100
Window	NFRX	PAVE	NFRX	PAVE	NFRX	PAVE
3 months	−7.3%	−5.7%	−10.7 pts	−9.1 pts	−10.9 pts	−9.4 pts
6 months	−7.8%	−2.0%	−22.9 pts	−17.2 pts	−31.0 pts	−25.2 pts
1 year	not published	+13.2%	not published	−4.1 pts	not published	−10.4 pts
3 years	not published	+78.0%	not published	−7.8 pts	not published	−29.3 pts
Since launch NFRX Jan 2026 · PAVE Mar 2017	+0.6%	+285.0%	−12.8 pts	+1.6 pts	−20.6 pts	−228.9 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

NFRX

Harrison Street Infrastructure Active ETF · Holds 34 stocks in infrastructure, 56% of its weight in S&P 500 companies

PAVE

Global X U.S. Infrastructure Development ETF · Holds 100 stocks in infrastructure, 64% of its weight in S&P 500 companies

Issuer not established Global X

Theme Infrastructure Infrastructure

In the S&P 500 56.3% 63.9%

Active share vs the S&P 500 98.2% 97.2%

In the Nasdaq-100 13.4% 6.5%

Holdings 34 100

Top ten, share of the fund 44.1% 32.9%

Expense ratio 0.80% 0.47%

Fee for the differing part 0.81% 0.48%

Total return, 1 year +0.6% (since it first traded on Jan 30, 2026) +13.2%

vs the S&P 500 −12.8 pts −4.1 pts

vs the Nasdaq-100 −20.6 pts −10.4 pts

Below its high −8.7% −10.8%

Net assets, NFRX as of Jun 30, 2026 and PAVE as of Oct 8, 2026 $106m $13.6bn

As of Oct 9, 2026. Source: ETFIQ.

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.

PAVE in plain words

By weight, 64% of PAVE's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 33% 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 +13.2% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 4.1 pts. It sits 10.8% below its all-time high of Jun 25, 2026.

Questions people ask

Which is more different from the S&P 500, NFRX or PAVE?: NFRX has 56% of its weight in S&P 500 names and PAVE has 64%, so NFRX differs more from the index.
Which is cheaper, NFRX or PAVE?: NFRX charges 0.80% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.

Other comparisons

NFRX vs NGIF NFRX vs IFRA NFRX vs BKGI NFRX vs GII PAVE vs BILT PAVE vs BLDX PAVE vs CSIO PAVE vs GLIX

NFRX on its own →PAVE on its own →How every figure is computed →Standards and sources →

Where these figures came from

NFRX filings on SEC EDGAR ↗PAVE filings on SEC EDGAR ↗PAVE prospectus with the expense ratio (SEC) ↗Global X page for PAVE ↗

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

Open data

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