ETFIQ
RankingsCompareHoldingsFlowsResearch
Ask ETFIQETF ModelsMy portfolioWeekly note
A
vs
B
Share on XDownload as PDFOpen liveAsk about these two funds

TOLZ vs UPGR: which is really different?

TOLZ and UPGR hold 0% of their weight in the same names, and TOLZ returned +8.1% over the year. ProShares DJ Brookfield Global Infrastructure ETF and Xtrackers US Green Infrastructure Select Equity ETF.

UPGR costs 0.11 points a year less; their one-year returns differ by 19.3 points; TOLZ is far larger, $162m against $539,786.

TOLZUPGR
Expense ratio0.46%0.35%
Net assets, TOLZ as of Oct 9, 2026 and UPGR as of Oct 8, 2026$162m$539,786
Total return, 1 year+8.1%−11.2%
What it tracksInfrastructureInfrastructure
Holdings in common0%
S&P 500, total return, 1 year+17.3%
Against the S&P 500, 1 yearbehind by 9.2 ptsbehind by 28.5 pts
Below its all-time high7.5%, high on Mar 2, 202626.8%, high on Jun 2, 2026

Holdings in common uses holdings dated May 29, 2026 and Oct 8, 2026.

33.9%
TOLZ in the S&P 500
22.9%
UPGR in the S&P 500
+8.1%
TOLZ total return, 1 year
−11.2%
UPGR total return, 1 year
TOLZ · 1 year to Oct 9, 202666% of its weight is outside the S&P 500
66% of its weight is outside the S&P 50034% of TOLZ's weight is in S&P 500 companies and 66% is outside the index. Holdings as of Oct 8, 2026.34%66%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 99% · top ten 39% of the fund · 115 holdings as published by its issuer for Oct 8, 2026 · Nasdaq-100: 2% in66% of its weight is outside the S&P 50034% of TOLZ's weight is in S&P 500 companies and 66% is outside the index. Holdings as of Oct 8, 2026.34%66%inoutside the S&P 500active share 99% · Nasdaq-100: 2% in

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

UPGR · 1 year to Oct 9, 202677% of its weight is outside the S&P 500
77% of its weight is outside the S&P 50023% of UPGR's weight is in S&P 500 companies and 77% is outside the index. Holdings as of May 29, 2026.23%77%in the S&P 500of its weight outside the S&P 500active share 97% · top ten 34% of the fund · 45 holdings as filed for May 29, 2026 · Nasdaq-100: 2% in77% of its weight is outside the S&P 50023% of UPGR's weight is in S&P 500 companies and 77% is outside the index. Holdings as of May 29, 2026.23%77%inoutside the S&P 500active share 97% · Nasdaq-100: 2% in

23% of UPGR's weight is in S&P 500 companies and 77% is outside the index. Holdings as of May 29, 2026.

ETFIQ Off-Index Score · TOLZ 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 →

What they hold in common

By the books each fund has filed, TOLZ and UPGR hold 0% 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 May 29, 2026 and Oct 8, 2026.

half

0% in common

Positions both hold, largest shared weight first
Holding TOLZ UPGR
Only in TOLZ
ENBRIDGE INC 5.80%
NATIONAL GRID PLC 5.40%
WILLIAMS COS INC 4.38%
VINCI SA 4.16%
AMERICAN TOWER CORP 3.85%
TC ENERGY CORP 3.51%
ENERGY TRANSFER LP 3.16%
KINDER MORGAN INC 3.13%
Only in UPGR
FUELCELL ENERGY INC 6.23%
PURECYCLE TECHNOLOGIES INC 4.29%
SHOALS TECHNOLOGIES GROUP INC 3.37%
BLOOM ENERGY CORP 3.35%
FIRST SOLAR INC 2.93%
ENERGY VAULT HOLDINGS INC 2.88%
QUANTUMSCAPE CORP 2.74%
PLUG POWER INC 2.72%

0% of the two portfolios are the same securities at the same weight.

Performance, window by window

Total returnvs the S&P 500vs the Nasdaq-100
WindowTOLZUPGRTOLZUPGRTOLZUPGR
3 months−5.5%−14.2%−8.8 pts−17.6 pts−9.1 pts−17.9 pts
6 months−6.9%−9.7%−22.1 pts−24.8 pts−30.1 pts−32.9 pts
1 year+8.1%−11.2%−9.2 pts−28.5 pts−15.5 pts−34.8 pts
3 years+51.4%+13.7%−34.4 pts−72.1 pts−55.9 pts−93.6 pts
Since launch
TOLZ Mar 2014 · UPGR Jul 2023
+111.3%−10.4%−308.8 pts−90.6 pts−740.8 pts−112.2 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

TOLZ
ProShares DJ Brookfield Global Infrastructure ETF · Holds 115 stocks in infrastructure, 34% of its weight in S&P 500 companies
UPGR
Xtrackers US Green Infrastructure Select Equity ETF · Holds 45 stocks in infrastructure, 23% of its weight in S&P 500 companies
Issuer ProShares Xtrackers
Theme Infrastructure Infrastructure
In the S&P 500 33.9% 22.9%
Active share vs the S&P 500 98.9% 97.4%
In the Nasdaq-100 2.1% 2.4%
Holdings 115 45
Top ten, share of the fund 39.4% 33.8%
Expense ratio 0.46% 0.35%
Fee for the differing part 0.47% 0.36%
Total return, 1 year +8.1% −11.2%
vs the S&P 500 −9.2 pts −28.5 pts
vs the Nasdaq-100 −15.5 pts −34.8 pts
Below its high −7.5% −26.8%
Net assets, TOLZ as of Oct 9, 2026 and UPGR as of Oct 8, 2026 $162m $539,786

As of Oct 9, 2026. Source: ETFIQ.

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.

UPGR in plain words

By weight, 23% of UPGR'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 34% of the fund across 45 positions, as filed for May 29, 2026. Over the year to Oct 9, 2026 the fund returned −11.2% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 28.5 pts. It sits 26.8% below its all-time high of Jun 2, 2026.

Questions people ask

Do TOLZ and UPGR hold the same stocks?
By their latest filings, 0% 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, TOLZ or UPGR?
TOLZ has 34% of its weight in S&P 500 names and UPGR has 23%, so TOLZ differs more from the index.
Which is cheaper, TOLZ or UPGR?
TOLZ charges 0.46% a year and UPGR charges 0.35%, so UPGR is cheaper. Fees come from each fund's prospectus.
Other comparisons
TOLZ vs IPAVTOLZ vs EFRATOLZ vs GIITOLZ vs BKGIUPGR vs PAVEUPGR vs NGIFUPGR vs BLDXUPGR vs BILT
TOLZ on its own →UPGR on its own →How every figure is computed →Standards and sources →
Where these figures came from
TOLZ filings on SEC EDGAR ↗ProShares page for TOLZ ↗UPGR filings on SEC EDGAR ↗UPGR prospectus with the expense ratio (SEC) ↗Xtrackers website ↗

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

Open data

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