EMIF vs GII: Grades, Fees and Holdings Compared

iShares Emerging Markets Infrastructure ETF

EMIFDNasdaq

State Street SPDR S&P Global Infrastructure ETF

GIIANYSE Arca

Overlap

12.3%by weight

Expense ratio

GII −0.20pt a year

EMIF0.60%GII0.40%

Avg volume · 30D

GII 19.1×the volume

EMIF2.17KGII41.6K

10Y return · a year

GII +6.5pt

EMIF+2.0%GII+8.5%

EMIF vs GII Performance

Nov 2, 2021 – Nov 2, 2026

+31.5%EMIF+59.0%GII

Expense ratio: EMIF 0.60%; GII 0.40%, better
Fund size: EMIF $13M; GII $962M
1Y total return: EMIF +5.8%; GII +11.3%, better
Yield (12M): EMIF 4.20%, better; GII 2.69%
Holdings: EMIF 43; GII 89
Avg volume (30D): EMIF 2.17K sh; GII 41.6K sh, better
NAV per share: EMIF $26.06; GII $74.56
52W range

ETF.net Grade

Pillar letters and Scores for EMIF, GII, with each pillar’s weight
Pillar	EMIF	GII
Cost30% weight	D39	A86Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	D34	A72Higher
Tradability15% weight	F23	A72Higher
Holdings10% weight	D26	B68Higher
Durability5% weight	B60	A85Higher

Rank among Infrastructure funds

How we build Categories ›

Same Category. EMIF and GII are both graded against the same 33 Infrastructure funds, so their Grades compare head to head.

Infrastructure⁠

Category · 33 funds

See all 33 ›

GII ranks 3rd and EMIF 24th of 33 funds in the Infrastructure Category.

Rank 1AIFRAiShares U.S. Infrastructure ETFScore 86
Rank 2AIGFiShares Global Infrastructure ETFScore 83
Rank 3AGIIState Street SPDR S&P Global Infrastructure ETFScore 78
Rank 4ANFRANorthern Trust STOXX Global Broad Infrastructure ETFScore 74
Rank 22DSHPPPacer Industrials and Logistics ETFScore 39
Rank 24DEMIFiShares Emerging Markets Infrastructure ETFScore 34
Rank 24DNGIFNuveen Global Infrastructure Fund: ETF Class SharesScore 34

Our read on each fund

ETF.net Research

EMIFDiShares Emerging Markets Infrastructure ETF

GIIAState Street SPDR S&P Global Infrastructure ETF

In short

EMIF Most infrastructure ETFs go global or stay home. EMIF does neither: an iShares fund running since 2009 that tracks a roughly 30-stock index of listed emerging-markets infrastructure companies.

GII Toll roads, airports, pipelines and power grids in one ticker. GII has tracked the S&P Global Infrastructure Index since 2007, an early entrant in the category, and charges less than the typical infrastructure fund.

Stated mandate

EMIF The Fund seeks to follow an index of 30 leading publicly listed companies in the emerging-markets infrastructure industry.

GII The fund seeks to track the total return of the S&P Global Infrastructure Index. That index provides exposure to large publicly listed infrastructure companies across transportation, utilities, and energy infrastructure.

Why people hold it

EMIF One lane, no detours: emerging markets only, infrastructure only. The category's best-known names (IGF, GII, PAVE) cast a global or U.S. net instead.
Rules-based and readable: it follows the S&P Emerging Markets Infrastructure Index, built around 30 leading listed operators, with no manager stock-picking.
Launched in 2009 under the iShares roof, so the strategy has traded through more than a decade of emerging-market weather.

GII Tracks an index of 75 of the largest listed infrastructure companies, screened for float and liquidity, spread across transportation, utilities and energy infrastructure in developed and emerging markets.ssga.com
0.40% a year against a 0.55% median for infrastructure ETFs. The cheap end of a category that often is not cheap.
Live since 2007, so the record covers the financial crisis, a decade of low rates and the 2022 rate shock. It rates among the strongest implementations in its infrastructure peer group.

Worth knowing

EMIF Costs 0.60% a year, above infrastructure peers such as IFRA (0.30%) and IGF (0.37%).
Small and thinly traded, which typically means wider bid-ask spreads than the category's household names.
About 30 stocks, so individual names and countries move the needle. It sits in the lower half of its infrastructure peer group on our review.

GII IGF follows the same index for 0.37%, three basis points less. GII's own trading is moderate rather than heavy, so spreads count alongside the fee gap.
Roughly 70 stocks across three sectors and several currencies. A focused, globally scattered book that can behave quite differently from a broad world equity fund.ssga.com
Distributions arrive on an annual or semiannual schedule, so cash lands in lumps rather than monthly.

Full EMIF profile⁠

Full GII profile⁠

EMIF vs GII Holdings

How EMIF and GII differ

Overlap by weight

12.3%

Shared holdings make up 67.2% of EMIF and 12.3% of GII.

Level by level

Holdings21 in both12.3%
Countryby domicile12.7%
Sector8 Sectors52.5%
Asset classEquity100%

Sector

Sector weights in EMIF and GII, widest gap first
Sector	More in EMIFMore in GII	EMIF	GII
Transportation	EMIF +41.5 points	41.5%	0.0%
Industrials	GII +28.8 points	0.0%	28.8%
Financials	GII +6.9 points	0.0%	6.9%
Utilities	EMIF +6.0 points	38.6%	32.6%
Technology	GII +6.0 points	0.0%	6.0%
Energy	GII +5.3 points	19.9%	25.2%
Communication	GII +0.3 points	0.0%	0.3%
Real Estate	GII +0.1 points	0.0%	0.1%

Country, concentration and asset class

Country by domicile

Country weights in EMIF and GII, widest gap first
Country	More in EMIFMore in GII	EMIF	GII
United States	GII +37.9 points	0.0%	37.9%
China	EMIF +32.3 points	37.0%	4.7%
Brazil	EMIF +17.1 points	17.6%	0.5%
Mexico	EMIF +12.6 points	20.0%	7.4%
United Arab Emirates	EMIF +10.9 points	10.9%	0.0%
Spain	GII +9.1 points	0.0%	9.1%
Thailand	EMIF +8.8 points	8.8%	0.0%
Canada	GII +7.9 points	0.0%	7.9%
Other countries (13)	GII +26.7 points	5.7%	32.4%

Outside the US: EMIF 0% developed, 100% emerging. GII 78% developed, 22% emerging.

Concentration

Weight in the 10 largest Holdings

EMIF59.4%
GII38.6%

Securities held

EMIF30
GII76

Asset class

EMIF: Equity
GII: Equity

Holdings

Only in EMIF9
In both21
Only in GII55

Only in EMIF

9 securities, 32.0% of EMIF by weight

Airports of Thailand Non-Voting Dr8.69%
Adnoc Drilling Company6.25%
Qatar Gas Transport Company Ltd4.57%
Korea Electric Power Adr Rep3.34%
Motiva Infraestrutura De Mobilidad2.95%
China Oilfield Services Ltd H2.73%
Enel Chile Adr Representing SA1.51%
China Suntien Green Energy Corp Lt1.23%
Sk Gas Ltd0.74%

Only in GII

55 securities, 87.4% of GII by weight

Aena Sme SA4.94%
Transurban Group4.90%
Nextera Energy Inc4.72%
Iberdrola SA4.09%
Auckland Intl Airport Ltd4.02%
Enbridge Inc3.61%
Williams Cos Inc3.02%
Southern Co/The2.95%
Getlink SE2.87%
Duke Energy Corp2.71%
Constellation Energy2.40%
National Grid PLC2.33%
Tc Energy Corp2.21%
Targa Resources Corp2.20%
Kinder Morgan Inc2.19%
Cheniere Energy Inc2.17%
Enel Spa2.15%
Adp2.15%
Flughafen Zurich AG Reg2.00%
Oneok Inc1.99%
American Electric Power1.94%
Dominion Energy Inc1.58%
Sempra1.55%
Japan Airport Terminal Co1.43%
Entergy Corp1.42%
Engie1.37%
Xcel Energy Inc1.36%
Exelon Corp1.31%
E.on SE1.29%
Rwe AG1.24%
Vistra Corp1.23%
Sse PLC1.18%
Consolidated Edison Inc1.18%
Sats Ltd1.09%
Public Service Enterprise Gp1.01%
Pembina Pipeline Corp0.98%
Fraport AG Frankfurt Airport0.96%
Dalrymple Bay Infrastructure0.83%
Enav Spa0.61%
Atlas Arteria0.52%
Hutchison Port Holdings Tr U0.44%
Westshore Terminals Investme0.44%
Dt Midstream Inc0.43%
Keyera Corp0.38%
Corp America Airports SA0.33%
Frontline PLC0.26%
Gaztransport Et Techniga SA0.26%
South Bow Corp0.25%
Sia Engineering Co Ltd0.24%
Antero Midstream Corp0.24%

Weight gaps

All 21 Holdings in both funds, largest gap first.

Holding weights in EMIF and GII, widest gap first
Holding	More in EMIFMore in GII	EMIF	GII
Companhia De Saneamento Basico DoSBS	EMIF +7.52 points	7.82%	0.30%
Grupo Aeroportuario Del Pacifico APAC	EMIF +6.77 points	10.75%	3.98%
Cosco Shipping Energy Transportati	EMIF +4.33 points	4.42%	0.09%
China Resources Power Ltd	EMIF +3.90 points	4.05%	0.15%
Companhia Paranaense De Energia CoELPC	EMIF +3.55 points	3.69%	0.14%
Cgn Power Ltd H	EMIF +3.27 points	3.40%	0.13%
Enn Energy Holdings Ltd	EMIF +3.21 points	3.33%	0.12%
Grupo Aeroportuario Adr RepresentiASR	EMIF +3.10 points	4.96%	1.86%
Grupo Aeroportuario Del Centro NorOMAB	EMIF +2.64 points	4.19%	1.55%
Kunlun Energy Ltd	EMIF +2.57 points	2.67%	0.10%
Companhia Energetica Minas GeraisCIG	EMIF +2.44 points	2.54%	0.10%
Huaneng Power International Inc H	EMIF +2.34 points	2.43%	0.09%
Guangdong Investment Ltd	EMIF +1.98 points	2.06%	0.08%
China Merchants Port Holdings Ltd	EMIF +1.81 points	2.86%	1.05%
Jiangsu Expressway Ltd H	EMIF +1.22 points	1.97%	0.75%
China Longyuan Power Group H	EMIF +1.15 points	1.19%	0.04%
Zhejiang Expressway Ltd H	EMIF +0.91 points	1.46%	0.55%
Cosco Shipping Ports Ltd	EMIF +0.68 points	1.05%	0.37%
Anhui Expressway Ltd H	EMIF +0.62 points	0.98%	0.36%
Shenzhen International Holdings	EMIF +0.60 points	0.97%	0.37%
Beijing Capital International Airp	EMIF +0.22 points	0.36%	0.14%

All 30 EMIF holdings⁠All 75 GII holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EMIF vs GII Cost

Overpaying EMIF vs GII

$3,727

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EMIF 0.60%
$11,817
GII 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

EMIF 0.60%
GII 0.40%
Overpaying

Year by year

Year	EMIF	GII	Overpaying
10	$1,076	$723	$353
20	$4,116	$2,793	$1,323
30	$11,817	$8,090	$3,727

Expense ratio

0.60%EMIF
0.40%GII, cheaper

GII0.40%EMIF0.60%

0.30%2.10%

Middle half of Infrastructure funds
Median 0.55%

GII 6th cheapest of 33 funds

EMIF 19th cheapest of 33 funds

EMIF vs GII Dividends

Last 12 months to Nov 2, 2026

Yield (12M): EMIF 4.20%, better; GII 2.69%
Payout (12M): EMIF $1.11; GII $2.02
Last payment: EMIF $0.28; GII $0.78
Ex-dividend: EMIF Jun 15, 2026; GII Jun 1, 2026
Paid on: EMIF Jun 18, 2026; GII Jun 3, 2026
Frequency: EMIF Twice a year; GII Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EMIFTwice a year · 20 paymentsAll EMIF payments⁠

GIITwice a year · 19 paymentsAll GII payments⁠

EMIF vs GII Risk

Fall from peak · 5 years

EMIF
GII

Risk facts

VolatilityStd dev, 3 years: EMIF 12.8%GII 12.5%, better
Return per unit of riskSharpe ratio, 3 years: EMIF 0.81GII 1.17, better
Worst fallMax drawdown, 5 years: EMIF −23.3%GII −20.7%, better
Market sensitivityBeta, 5 years: EMIF 0.76GII 0.56; Market = 1

EMIF and GII in the news

All news⁠

Category Review
Infrastructure ETFs lagged stocks, and large construction funds fell hardest in the quarter
Updated Oct 20, 2026GII
Deep Dive
Infrastructure ETFs diverged nine points in September
Sep 9, 2026GII

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