Category Review
Infrastructure ETFs lagged stocks, and large construction funds fell hardest in the quarter
Northern Trust STOXX Global Broad Infrastructure ETF
The ETF.net NFRA Grade
A
Score 74 out of 100
- 4 of 34
Score 74 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A74 out of 100Rank 7 of 34Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A72 out of 100Rank 5 of 34Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B65 out of 100Rank 9 of 34Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A88 out of 100Rank 2 of 32Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A81 out of 100Rank 5 of 34
Our read on NFRA
In short
AMost global infrastructure funds stop at utilities and toll roads. NFRA's index goes wider, adding cell towers, data centers, hospitals, prisons and postal routes to the pipelines and railroads, across developed and emerging markets.
Stated mandate
The fund seeks to match, before fees and expenses, the performance of the STOXX Global Broad Infrastructure Index.
Why people hold it
Worth knowing
NFRA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
NFRA$10,930
Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | NFRA |
|---|---|
| Year to date | +8.5% |
| 1 month | +3.0% |
| 3 months | −0.4% |
| 1 year | +9.3% |
| 3 years | +13.7% |
| 5 years | +5.6% |
| 10 years | +7.4% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | NFRA |
|---|---|---|
| 2026 YTD | +8.5% | |
| 2025 | +18.4% | |
| 2024 | +4.7% | |
| 2023 | +9.0% | |
| 2022 | −10.1% | |
| 2021 | +9.6% | |
| 2020 | +2.3% |
NFRA in the news
NFRA Dividends
- 5.73%
- $3.70
- $0.33 per share
- Quarterly
NFRA Risk
- 11.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.87
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −22.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.68
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
NFRA Cost
Overpaying vs IFRA, cheapest in Infrastructure
$3,269
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
NFRA 0.47%
$9,418
IFRA 0.30% Cheapest
$6,149
Cost over time
Year by year
| Year | NFRA | IFRA | Overpaying |
|---|---|---|---|
| 10 | $847 | $545 | $302 |
| 20 | $3,261 | $2,113 | $1,148 |
| 30 | $9,418 | $6,149 | $3,269 |
You pay 0.47%Waived by FlexShares 0.01%
Full fee 0.48% waiver 0.01% you pay 0.47%
Other funds in Infrastructure
- AIGFiShares Global Infrastructure ETFExpense ratio 0.37%1 year return +11.2%
- AGIIState Street SPDR S&P Global Infrastructure ETFExpense ratio 0.40%1 year return +11.3%
- APAVEGlobal X U.S. Infrastructure Development ETFExpense ratio 0.47%1 year return +13.8%
- BIDGTiShares U.S. Digital Infrastructure and Real Estate ETFExpense ratio 0.37%1 year return +16.3%
- BTOLZProShares DJ Brookfield Global Infrastructure ETFExpense ratio 0.46%1 year return +15.8%
