IFRA vs WUGI

IFRAAiShares U.S. Infrastructure ETF

WUGIFAXS Esoterica NextG Economy ETF

In short

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.

WUGI Most infrastructure funds buy bridges and pipelines by index. WUGI goes the other way: an active, non-diversified basket of roughly 27 global names in the 5G digital economy, run since its 2020 launch by the shop that built it.

Stated mandate

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

WUGI The Fund seeks capital appreciation through an actively managed portfolio focused on domestic and foreign companies connected to the 5G-enabled digital economy, including infrastructure, edge devices, and related services.

Why people hold it

• 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.

• WUGI No index to hug. The managers pick roughly 27 companies across 5G infrastructure, edge devices and related services, spanning US and foreign stocks of any size.sec.gov
• Continuity at the helm: Esoterica Capital, the boutique that launched the fund in 2020, still runs the portfolio as sub-advisor under the AXS banner.axsinvestments.comsec.gov
• A contractual waiver does real work here: 0.84% net of a waiver through July 31, 2027, against a 1.46% gross expense ratio.

Worth knowing

• 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.

• WUGI Even at 0.84% net of a waiver through July 31, 2027, the fee sits above the category median, and index peers cost far less: IFRA at 0.30%, PAVE at 0.47%.
• Non-diversified by design, so a handful of top names drive the result and swings run wider than a broad infrastructure basket.sec.gov
• A small, thinly traded fund that distributes once or twice a year, so trading costs and execution matter more than with the category's giants.

Full IFRA profile⁠

Full WUGI profile⁠