# Infrastructure ETFs: 18 funds, largest first

> 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 Oct 12 to 20, 2026.

Data as of Oct 21, 2026. Rebuilt every trading night.

Data as of Oct 21, 2026 .

## 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.

18 US listed infrastructure ETFs

$13.6bn The largest, PAVE

0.30% The cheapest, IFRA

+12.0% Best one year, RBLD

### The short answers

Least like the S&P 500 IPAV , Global X Infrastructure Development ex-U.S. ETF, 0.0% of its weight in S&P 500 companies. Closest pair GII and IGF , 97% 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.

| Company | Among the ten largest of | Average weight where it is | Largest, and in which fund |
| --- | --- | --- | --- |
| 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 |

The 15 most widely held of 139. 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.

### 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 Oct 12 to 20, 2026 .

- PAVE Global X U.S. Infrastructure Development ETF $13.6bn 0.47%

- IGF iShares Global Infrastructure ETF $10.6bn 0.37%

- IFRA iShares U.S. Infrastructure ETF $4.0bn 0.30%

- NFRA Northern Trust STOXX Global Broad Infrastructure ETF $3.0bn 0.47%

- BKGI BNY Mellon Global Infrastructure Income ETF $1.3bn 0.55%

- GII State Street SPDR S&P Global Infrastructure ETF $939m 0.40%

- TOLZ ProShares DJ Brookfield Global Infrastructure ETF $167m 0.46%

- BLDX Impax Global Sustainable Infrastructure ETF $118m 0.60%

- BILT iShares Infrastructure Active ETF $116m 0.60%

- NFRX Harrison Street Infrastructure Active ETF $106m 0.80%

| Ticker | Fund | Issuer | Net assets | In the S&P 500 | Active share | Total return 1Y | vs its benchmark 1Y | Fee |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| PAVE | Global X U.S. Infrastructure Development ETF | Global X | $13.6bn | 62.1% | 97.2% | +11.2% | not measured | 0.47% |
| IGF | iShares Global Infrastructure ETF | iShares | $10.6bn | 31.6% | 98.3% | +8.2% | +0.5 pts vs GII | 0.37% |
| IFRA | iShares U.S. Infrastructure ETF | iShares | $4.0bn | 71.8% | 95.7% | +8.2% | not measured | 0.30% |
| NFRA | Northern Trust STOXX Global Broad Infrastructure ETF | Northern Trust | $3.0bn | 35.5% | 96.1% | +5.9% | not measured | 0.47% |
| BKGI | BNY Mellon Global Infrastructure Income ETF | BNY Mellon | $1.3bn | 21.5% | 99.4% | +9.4% | +1.2 pts vs IGF | 0.55% |
| GII | State Street SPDR S&P Global Infrastructure ETF | State Street | $939m | 32.5% | 98.2% | +7.7% | −0.5 pts vs IGF | 0.40% |
| TOLZ | ProShares DJ Brookfield Global Infrastructure ETF | ProShares | $167m | 34.1% | 98.9% | +10.0% | not measured | 0.46% |
| BLDX | Impax Global Sustainable Infrastructure ETF | Impax | $118m | 35.2% | 96.6% | first traded 261 days ago | · | 0.60% |
| BILT | iShares Infrastructure Active ETF | iShares | $116m | 45.7% | 98.1% | +10.3% | not measured | 0.60% |
| NFRX | Harrison Street Infrastructure Active ETF | not established | $106m | 55.1% | 98.2% | first traded 264 days ago | · | 0.80% |
| CSIO | Cohen & Steers Infrastructure Opportunities Active ETF | Cohen & Steers | $44m | 49.6% | 99.0% | first traded 315 days ago | · | 0.65% |
| RIFR | Russell Investments Global Infrastructure ETF | Russell Investments | $43m | 56.2% | 97.5% | +8.3% | not measured | 0.59% |
| RBLD | First Trust Alerian U.S. NextGen Infrastructure ETF | First Trust | $42m | 81.2% | 91.9% | +12.0% | −3.8 pts vs IWV | 0.65% |
| GLIX | Lazard Listed Infrastructure ETF | Lazard | $30m | 48.4% | 98.5% | +7.0% | not measured | 0.96% |
| IPAV | Global X Infrastructure Development ex-U.S. ETF | Global X | $6m | 0.0% | 100.0% | +5.2% | not measured | 0.55% |
| EFRA | iShares Environmental Infrastructure and Industrials ETF | iShares | $6m | 26.1% | 99.8% | +4.8% | −11.1 pts vs VT | 0.47% |
| UPGR | Xtrackers US Green Infrastructure Select Equity ETF | Xtrackers | $514,627 | 22.9% | 97.4% | −16.3% | not measured | 0.35% |
| NGIF | Nuveen Global Infrastructure Fund: ETF Class Shares | Nuveen | not read by ETFIQ | 49.5% | 97.8% | first traded 140 days ago | · | 0.88% |

### 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.

| | PAVE | IGF | IFRA | NFRA | BKGI | GII | TOLZ | BLDX | BILT | NFRX |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| PAVE | · | 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% | · |

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

| Fund | Largest holding it alone has | Weight | All of 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% |

### 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

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.

| Issuer | What they publish | Kind |
| --- | --- | --- |
| Global X | Global X Insights, including The Next Big Theme | Their research index |
| iShares | iShares Portfolio Insights | Their research index |
| ProShares | ProShares insights | Their research index |
| First Trust | First Trust Investment Insights | Their research index |

### Where to next

### Where these figures came from

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

ETFIQ is an independent publisher and makes no recommendations. Standards and sources

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Infrastructure ETFs: what each one holds, data as of Oct 21, 2026. https://etfiq.com/themes/infrastructure
Licence: https://etfiq.com/license/ Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/themes/infrastructure