GLIX vs IFRA

GLIXDLazard Listed Infrastructure ETF

IFRAAiShares U.S. Infrastructure ETF

In short

GLIX Lazard's 2025 entry into listed infrastructure: an equity portfolio built around the companies that own and run the world's plumbing. At 0.96%, it prices like a specialist on a shelf stacked with cheap index trackers.

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

GLIX The portfolio primarily holds equity securities, especially common stocks, issued by infrastructure companies.

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

• GLIX The mandate is narrow and readable: equity, mostly common stock, of infrastructure companies. What the label says is what the portfolio holds.
• Built as a standard 1940 Act fund, so tax time means a 1099, not the K-1 paperwork that comes with some pipeline partnerships.
• Cash comes back on a quarterly schedule, a steadier rhythm than funds that pay once a year.

• 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

• GLIX At 0.96%, it costs roughly triple the biggest index rivals (IGF at 0.37%, IFRA at 0.30%). That gap is the bar this portfolio has to clear.
• A 2025 launch with a small asset base and light trading. Spreads can widen, so limit orders and a glance at the day's volume matter more here.
• It opened in October 2025, so there is no long record yet showing how the strategy behaves through a full rate or credit cycle.

• 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 GLIX profile⁠

Full IFRA profile⁠