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NFRX

GradeFNASDAQ Global Market

Harrison Street Infrastructure Active ETF

Themes · Harrison Street · Inception 2026-01-29 · SEC filings

$24.95−0.27 (−1.09%)

As of Sep 23, 2026, 2:36 PM EDT

History starts Jan 30, 2026.History starts Jan 30, 2026.
Intraday session: down, 11 prints from 25.22 to 24.95. Range 24.19 to 25.09. Use the arrow keys to read each point.$24.20$24.40$24.60$24.8010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$109M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$25.15
52W range
low $25.00high $27.81

The ETF.net NFRX Grade

F

21/ 100

Rank 33 of 34 in Infrastructure⁠

Confidence Medium

Six-pillar profile for NFRX. Scores out of 100: Cost 14, Risk 42, Mission not scored, Tradability 3, Holdings 33, Durability 34. Strongest: Risk (42). Weakest: Tradability (3). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 21 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 14
    Category rank29/34 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 42
    Category rank22/34 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 3
    Category rank33/34 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 33
    Category rank25/32 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 34
    Category rank25/34 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on NFRX

ETF.net Research

FA private-markets real assets shop's first crack at an ETF. NFRX actively picks global listed infrastructure (utilities, midstream energy, digital, transportation) instead of tracking an index.

Stated mandate

The fund seeks long-term capital appreciation and income.

Why people hold it

  1. 01Actively managed, not index-bound: a manager chooses names across utilities, midstream energy, digital and transportation rather than taking whatever a benchmark lists.harrisonst.com
  2. 02Global reach. The mandate covers listed infrastructure worldwide, wider ground than the US-only builders in the cohort like PAVE and IFRA.harrisonst.com
  3. 03The clearest listed expression of a firm that underwrites real assets privately: Harrison Street's first ETF, launched on Nasdaq in 2026, built on its existing real-assets strategies.harrisonst.com
  4. 04Plain mandate: long-term capital appreciation and income, with at least 80% of assets in infrastructure company shares.finance.yahoo.com

Worth knowing

  1. 01Costs 0.85% a year against a 0.55% cohort median, and index rivals run cheaper still (IFRA 0.30%, IGF 0.37%). Stock picking is what the premium buys.
  2. 02A 2026 launch that is still small and lightly traded. Young, thin funds tend to carry wider bid-ask spreads than the category's established names.
  3. 03Non-diversified and income paid only annually or semiannually, so single positions can swing results and cash arrives in a trickle, not a monthly drip.finance.yahoo.com

NFRX Holdings

As of Sep 20, 2026, 10:10 AM
Asset class
Stocks
Holdings
—
Top-10 weight
45%
Largest holding
UNP6.4%

Geography

  • United States84.89%
  • Canada9.04%
  • Netherlands3.05%
  • Philippines3.02%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001UNPUNION PACIFIC CORP6.36%24,822$7M401
002WMBWILLIAMS COS INC5.08%78,096$6M361
003—NATIONAL GRID PLC /GBP/4.72%336,817$5M5
004—AENA SME SA /EUR/4.42%166,643$5M2
005ATOATMOS ENERGY CORP4.25%28,960$5M288
006TRGPTARGA RESOURCES CORP4.19%16,193$5M340
007CNICANADIAN NATL RAILWAY CO /CAD/4.08%37,542$5M30
008CNPCENTERPOINT ENERGY INC3.94%112,699$4M258
009XELXCEL ENERGY INC3.91%58,521$4M311
010NEENEXTERA ENERGY INC3.89%52,765$4M407
011ETRENTERGY CORP3.42%36,503$4M315
012CSXCSX CORP3.28%75,566$4M369
013AEPAMERICAN ELECTRIC POWER3.15%28,528$3M337
014AMTAMERICAN TOWER CORP3.14%19,701$3M333
015SRESEMPRA2.95%39,637$3M301

Showing 1–15 of 44 holdings

NFRX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

NFRX$9,516
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. NFRX $9,516. SPY $10,415. Use the arrow keys to read each point.$9,442$9,983$10,525Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for NFRX. Periods over one year show the average yearly return.
PeriodNFRX
Year to dateFund launched this year—
1 month−4.8%
3 months−4.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NFRX
YearReturn barNFRX
2026 YTD+1.2%

History from Jan 30, 2026

NFRX in the news

ETF.net Research hasn’t filed on NFRX yet — coverage lands here as it’s written.

NFRX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.21 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Mar 26, 2026 $0.06; Jun 25, 2026 $0.21. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 25, 2026Jun 30, 2026$0.21
Mar 26, 2026Mar 31, 2026$0.06

NFRX Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jan 2026; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jan 2026; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
—
Launched Jan 2026; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
0.03
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

NFRX Cost

Expense ratio0.85%
  • The middle half of Infrastructure funds
  • Median 0.55%

27 of the 33 Infrastructure funds charge less.

NFRX costs $85.00 a year on $10,000. The median Infrastructure fund costs $55.00.