GARA vs IFRA

GARACGuinness Atkinson Real Assets Income ETF

IFRAAiShares U.S. Infrastructure ETF

In short

GARA An active take on real assets: GARA pairs dividend-paying REITs with the companies that build and run infrastructure, and keeps a hard floor under each sleeve so neither can crowd the other out.

IFRA Most infrastructure funds pick a side: the companies that build the stuff, or the ones that own it. IFRA holds both, stays entirely American, and charges well under the category's typical fee.

Stated mandate

GARA The Fund seeks moderately high current income, consistent dividend growth, and capital appreciation.

IFRA The fund seeks to track an index of U.S. companies with infrastructure exposure, balancing infrastructure enablers and infrastructure asset owners.

Why people hold it

• GARA The prospectus sets a floor of at least 15% in REITs and at least 15% in infrastructure at all times, so the fund cannot quietly drift into a one-sector bet.sec.gov
• At 0.45% a year, it costs less than the typical fund in its infrastructure peer group.
• No index to follow. The manager buys dividend payers that build, finance and operate physical assets, requiring at least half of revenue from real estate or infrastructure.sec.gov
• The stated goal is three-part: moderately high current income, consistent dividend growth, and capital appreciation, rather than the highest yield available today.sec.gov

• IFRA 0.30% a year, roughly half the typical fee in the infrastructure category and cheaper than bigger-name rivals IGF (0.37%), GII (0.40%) and PAVE (0.47%).
• Tracks the NYSE FactSet U.S. Infrastructure Index, which balances the enablers (builders and suppliers) against the asset owners, rather than betting on the construction cycle alone.
• Roughly 160 holdings spread the theme wide, and the fund pays out quarterly.
• Running since 2018 with over a billion in assets, it sits among the strongest implementations in its infrastructure peer group.

Worth knowing

• GARA Launched in December 2025, still a small fund and thinly traded, so spreads can run wider and there is little live history to judge the manager by.
• Distributions arrive once or twice a year rather than monthly, so the income comes in lumps.
• The peer group includes long-established index rivals priced lower, such as IFRA at 0.30% and IGF at 0.37%.

• IFRA US-only by design. The overseas toll roads, airports and utilities that global peers like IGF and GII hold are simply not here.
• A narrow slice of the market, so it can move quite differently from a broad US index in either direction.
• Volume is moderate rather than heavy. Limit orders are the sane default, especially around the open and close.

Full GARA profile⁠

Full IFRA profile⁠