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Theme · 18 funds

Infrastructure ETFs: what each one holds

See every infrastructure ETF by what it holds, not by its name. Funds that hold the builders, materials suppliers and engineering firms behind public works: roads, bridges, ports and pipes. 18 funds, largest first. Updated Oct 21, 2026. The typical fund carries 41% of its weight in S&P 500 names, the 18th most of the 53 themes with filed books.

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How many there are18US listed infrastructure ETFs, as of Oct 21, 2026.
The largestPAVEGlobal X U.S. Infrastructure Development ETF, $13.6bn.
The cheapestIFRAiShares U.S. Infrastructure ETF, 0.30% a year.
Best one year total returnRBLDFirst Trust Alerian U.S. NextGen Infrastructure ETF, +12.0%.
Least like the S&P 500IPAVGlobal X Infrastructure Development ex-U.S. ETF, 0.0% of its weight in S&P 500 companies.
Closest pairGII and IGF97% of their weight in the same companies.

What these funds actually own

Between them the 18 funds' ten largest holdings name 139 companies, of which 28 appear in more than one. ENBRIDGE is among the ten largest of 4 of them, at an average of 5.1% of the fund.

CompanyIn the top ten ofAvg weightLargest, and where
ENBRIDGE ENB 4 of 18 5.1% 7.5% in BKGI
AENA SME SA AENA 4 of 18 4.8% 5.5% in BILT
WILLIAMS WMB 4 of 18 3.3% 4.1% in TOLZ
CSX Corp 3 of 18 5.0% 6.8% in CSIO
TRANSURBAN GROUP STAPLED UNITS TCL 3 of 18 4.4% 5.0% in IGF
NEXTERA ENERGY NEE 3 of 18 4.4% 4.7% in IGF
Aena SME SA 3 of 18 4.4% 5.3% in RIFR
Williams Cos Inc/The 3 of 18 4.1% 6.8% in CSIO
Iberdrola SA 3 of 18 3.5% 4.5% in BLDX
SOUTHERN SO 3 of 18 3.0% 3.1% in IFRA
Entergy Corp 2 of 18 5.8% 6.0% in CSIO
National Grid PLC 2 of 18 5.6% 8.1% in GLIX
Canadian National Railway Co 2 of 18 5.5% 8.6% in GLIX
NextEra Energy Inc 2 of 18 4.8% 4.8% in NGIF
UNION PACIFIC UNP 2 of 18 4.8% 5.4% in BILT

Infrastructure ETFs, the companies their ten largest holdings name. The 15 most widely held of 139. Source: each fund's latest SEC filing or its issuer’s own daily holdings file, read by ETFIQ.

How this is counted

Each row counts the ten largest holdings of each fund, so a fund missing from a row may still hold that company lower down. Weights are of the funds that name it, not of the theme.

How much of each fund is the S&P 500
PAVE
62.1%
IGF
31.6%
IFRA
71.8%
NFRA
35.5%
BKGI
21.5%
GII
32.5%
TOLZ
34.1%
BLDX
35.2%
BILT
45.7%
NFRX
55.1%
CSIO
49.6%
RIFR
56.2%
RBLD
81.2%
GLIX
48.4%
IPAV
0.0%
EFRA
26.1%
UPGR
22.9%
NGIF
49.5%

Share of each fund's weight in S&P 500 companies. Above half, the fund is mostly the S&P 500.

One year total return, the 14 with a full year
PAVE
+11.2% not measured
IGF
+8.2% +0.5 pts vs GII
IFRA
+8.2% not measured
NFRA
+5.9% not measured
BKGI
+9.4% +1.2 pts vs IGF
GII
+7.7% −0.5 pts vs IGF
TOLZ
+10.0% not measured
BILT
+10.3% not measured
RIFR
+8.3% not measured
RBLD
+12.0% −3.8 pts vs IWV
GLIX
+7.0% not measured
IPAV
+5.2% not measured
EFRA
+4.8% −11.1 pts vs VT
UPGR
−16.3% not measured

White marker is the S&P 500 over the same days, +16.4%, for reference. Last column is the gap to the fund's own benchmark, in points.

The 10 largest infrastructure ETFs

ETFIQ covers 18 infrastructure ETFs. The largest are PAVE ($13.6bn), IGF ($10.6bn) and IFRA ($4.0bn); fees run 0.30% to 0.96%, as of .

  1. 1PAVE$13.6bn0.47%Global X U.S. Infrastructure Development ETF
  2. 2IGF$10.6bn0.37%iShares Global Infrastructure ETF
  3. 3IFRA$4.0bn0.30%iShares U.S. Infrastructure ETF
  4. 4NFRA$3.0bn0.47%Northern Trust STOXX Global Broad Infrastructure ETF
  5. 5BKGI$1.3bn0.55%BNY Mellon Global Infrastructure Income ETF
  6. 6GII$939m0.40%State Street SPDR S&P Global Infrastructure ETF
  7. 7TOLZ$167m0.46%ProShares DJ Brookfield Global Infrastructure ETF
  8. 8BLDX$118m0.60%Impax Global Sustainable Infrastructure ETF
  9. 9BILT$116m0.60%iShares Infrastructure Active ETF
  10. 10NFRX$106m0.80%Harrison Street Infrastructure Active ETF

Every infrastructure ETF, largest first

Click a column to sort
Net assets

Points (pts) are percentage points.

Infrastructure ETFs: what each one holds
TickerFundIssuerNet assets ↓In the S&P 500Active shareTotal return 1Yvs its benchmark 1YFee
PAVEGlobal X U.S. Infrastructure Development ETF →Global X$13.6bn62.1%97.2%+11.2%not measured0.47%
IGFiShares Global Infrastructure ETF →iShares$10.6bn31.6%98.3%+8.2%+0.5 pts vs GII0.37%
IFRAiShares U.S. Infrastructure ETF →iShares$4.0bn71.8%95.7%+8.2%not measured0.30%
NFRANorthern Trust STOXX Global Broad Infrastructure ETF →Northern Trust$3.0bn35.5%96.1%+5.9%not measured0.47%
BKGIBNY Mellon Global Infrastructure Income ETF →BNY Mellon$1.3bn21.5%99.4%+9.4%+1.2 pts vs IGF0.55%
GIIState Street SPDR S&P Global Infrastructure ETF →State Street$939m32.5%98.2%+7.7%−0.5 pts vs IGF0.40%
TOLZProShares DJ Brookfield Global Infrastructure ETF →ProShares$167m34.1%98.9%+10.0%not measured0.46%
BLDXImpax Global Sustainable Infrastructure ETF →Impax$118m35.2%96.6%first traded 261 days ago·0.60%
BILTiShares Infrastructure Active ETF →iShares$116m45.7%98.1%+10.3%not measured0.60%
NFRXHarrison Street Infrastructure Active ETF →not established$106m55.1%98.2%first traded 264 days ago·0.80%
CSIOCohen & Steers Infrastructure Opportunities Active ETF →Cohen & Steers$44m49.6%99.0%first traded 315 days ago·0.65%
RIFRRussell Investments Global Infrastructure ETF →Russell Investments$43m56.2%97.5%+8.3%not measured0.59%
RBLDFirst Trust Alerian U.S. NextGen Infrastructure ETF →First Trust$42m81.2%91.9%+12.0%−3.8 pts vs IWV0.65%
GLIXLazard Listed Infrastructure ETF →Lazard$30m48.4%98.5%+7.0%not measured0.96%
IPAVGlobal X Infrastructure Development ex-U.S. ETF →Global X$6m0.0%100.0%+5.2%not measured0.55%
EFRAiShares Environmental Infrastructure and Industrials ETF →iShares$6m26.1%99.8%+4.8%−11.1 pts vs VT0.47%
UPGRXtrackers US Green Infrastructure Select Equity ETF →Xtrackers$514,62722.9%97.4%−16.3%not measured0.35%
NGIFNuveen Global Infrastructure Fund: ETF Class Shares →Nuveennot read by ETFIQ49.5%97.8%first traded 140 days ago·0.88%
Infrastructure ETFs: what each one holds, as of Oct 21, 2026. Source: ETFIQ.PAVE →IGF →IFRA →NFRA →BKGI →GII →TOLZ →BLDX →BILT →NFRX →CSIO →RIFR →RBLD →GLIX →IPAV →EFRA →UPGR →NGIF →

How much of each pair is the same fund

The closest pair is GII and IGF, which hold 97% of their weight in the same companies. The furthest apart is BKGI and PAVE at 0%. The middle pair of the 45 is 19%. The grid is the 10 largest of 18 funds.

PAVEIGFIFRANFRABKGIGIITOLZBLDXBILTNFRXPAVE
2%
37%
6%
0%
2%
3%
8%
8%
9%
IGF
2%
34%
27%
18%
97%
35%
11%
41%
16%
IFRA
37%
34%
21%
7%
34%
21%
11%
28%
23%
NFRA
6%
27%
21%
12%
32%
20%
22%
25%
25%
BKGI
0%
18%
7%
12%
17%
16%
6%
6%
12%
GII
2%
97%
34%
32%
17%
35%
12%
41%
30%
TOLZ
3%
35%
21%
20%
16%
35%
10%
30%
38%
BLDX
8%
11%
11%
22%
6%
12%
10%
12%
19%
BILT
8%
41%
28%
25%
6%
41%
30%
12%
27%
NFRX
9%
16%
23%
25%
12%
30%
38%
19%
27%

Infrastructure ETFs, the share of each pair’s weight held in the same companies. Read across or down; the figure is the same either way. Cells are shaded against the closest pair here, 97%. Source: each fund’s own filed or daily holdings, read by ETFIQ.

How to read the grid

Weight overlap adds the smaller of the two weights for every company both funds hold. Funds with a cut-short book are left out, not compared short.

What each fund holds alone

The largest holding no other fund in the grid holds, and how much of the fund is in names none of the others own.

FundLargest holding it alone hasWeightAll its own names
PAVE EATON CORPORATION PUBLIC LIMITED COMPANY 3.3%
43.5%
IGF JIANGSU EXPRESSWAY LTD H 0.8%
1.9%
IFRA CATERPILLAR INC CAT 3.7%
17.2%
NFRA SoftBank Group Corp. 3.5%
37.6%
BKGI OMEGA HEALTHCARE INVESTORS INC OHI 6.9%
29.5%
GII SICHUAN EXPRESSWAY GROUP CO 0.2%
0.5%
TOLZ ENERGY TRANSFER LP ET 2.9%
12.0%
BLDX Welltower, Inc. 3.1%
26.9%
BILT OSAKA GAS 1.1%
6.8%
NFRX COMPANHIA PARANAENSE DE /BRL 2.0%
2.8%

Infrastructure ETFs, the largest holding no other fund in the grid holds. Source: ETFIQ.

Questions people ask

How many infrastructure ETFs are there?
ETFIQ covers 18 US listed infrastructure ETFs as of Oct 21, 2026. That is every one it can measure from the fund’s own published holdings.
What is the largest infrastructure ETF?
PAVE, Global X U.S. Infrastructure Development ETF, at $13.6bn in net assets as of Oct 12, 2026, the largest of the 17 infrastructure ETFs with a published size.
What is the cheapest infrastructure ETF?
IFRA, iShares U.S. Infrastructure ETF, at 0.30% a year by its prospectus filed Jul 27, 2026, the lowest fee of the 18 infrastructure ETFs that publish one.
Which infrastructure ETF has performed best over the past year?
RBLD, First Trust Alerian U.S. NextGen Infrastructure ETF, at +12.0% total return over the year to Oct 21, 2026, the highest of the 14 infrastructure ETFs with a full year of trading behind them. Past returns do not predict future ones.
What do infrastructure ETFs hold?
Funds that hold the builders, materials suppliers and engineering firms behind public works: roads, bridges, ports and pipes. Between them the 18 infrastructure ETFs ETFIQ can read name 139 companies in their ten largest holdings, by holdings dated May 29, 2026 to Oct 20, 2026, most widely ENBRIDGE, which is among the ten largest of 4 of them.
Do infrastructure ETFs hold the same companies?
It depends which two. Across the 45 pairs of the 10 infrastructure ETFs with a full published book, by holdings dated May 31, 2026 to Oct 20, 2026, GII and IGF hold 97% of their weight in the same companies, BKGI and PAVE hold 0%, and the middle pair holds 19%. Two funds sold on one theme are not the same fund.

What the issuers say about this theme

About these links

The issuers behind these infrastructure funds publish their own work on this theme. These are their pages and words, not ETFIQ’s. A fund company writing about a theme it sells is making a case.

Global XGlobal X Insights, including The Next Big Theme ↗Their research index
iSharesiShares Portfolio Insights ↗Their research index
ProSharesProShares insights ↗Their research index
First TrustFirst Trust Investment Insights ↗Their research index

Issuer material on this theme. Links leave ETFIQ. Source: each issuer’s own site.

Where to next
The largest infrastructure ETFs→The cheapest infrastructure ETFs→The infrastructure ETFs least like the S&P 500→The infrastructure ETFs that returned most→The most concentrated infrastructure ETFs→Every thematic ETF415 →Compare two funds→The vocabulary→First Trust: ETF Newsletter - October 2026→UBS: CIO maintains a positive investment outlook for global equities→State Street Investment Management: Target AI and policy-led growth from US to emerging markets→
Where these figures came from
Fund holdings from SEC Form N-PORT and from the issuers own daily files ↗SEC EDGAR, full-text search of fund filings ↗SEC Form N-PORT, what a fund filed it holds ↗Rule 19a-1, what a distribution notice must say ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. Standards and sources →

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Infrastructure ETFs, one-year total return to Oct 21, 2026: BILT +10.3%, BKGI +9.4%, IFRA +8.2%, IGF +8.2%, GII +7.7%, GLIX +7.0%, IPAV +5.2%, EFRA +4.8%.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/themes/infrastructure"><img src="https://etfiq.com/assistant/api/embed/theme/infrastructure.svg" alt="Infrastructure ETFs, one-year total return to Oct 21, 2026: BILT +10.3%, BKGI +9.4%, IFRA +8.2%, IGF +8.2%, GII +7.7%, GLIX +7.0%, IPAV +5.2%, EFRA +4.8%." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">Infrastructure ETFs, one-year total return to Oct 21, 2026: BILT +10.3%, BKGI +9.4%, IFRA +8.2%, IGF +8.2%, GII +7.7%, GLIX +7.0%, IPAV +5.2%, EFRA +4.8%. Data: <a href="https://etfiq.com/themes/infrastructure">ETFIQ</a></figcaption>
</figure>

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ETFIQ, Infrastructure ETFs: what each one holds, data as of Oct 21, 2026. https://etfiq.com/themes/infrastructure

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