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NFRA vs OBOR

Northern Trust STOXX Global Broad Infrastructure ETF

NFRAANYSE Arca

KraneShares MSCI One Belt One Road Index ETF

OBORDNYSE Arca

Overlap

Expense ratio

NFRA −0.32pt a year

NFRA0.47%OBOR0.79%

Avg volume · 30D

NFRA 117.1×the volume

NFRA78.3KOBOR669

5Y return · a year

NFRA +5.9pt

NFRA+5.6%OBOR−0.3%

NFRA vs OBOR Performance

Nov 2, 2021 – Nov 2, 2026

+31.5%NFRA−1.4%OBOR

Nov 2, 2021 to Nov 2, 2026. NFRA +31.5%. OBOR −1.4%. Use the arrow keys to read each point.−30%−20%−10%10%20%Nov 2021May 2024Nov 2026
Expense ratio
NFRA 0.47%, better
OBOR 0.79%
Fund size
NFRA $3.06B
OBOR $4M
1Y total return
NFRA +9.3%, better
OBOR +3.9%
Yield (12M)
NFRA 5.73%, better
OBOR 1.98%
Holdings
NFRA 202
OBOR 114
Avg volume (30D)
NFRA 78.3K sh, better
OBOR 669 sh
NAV per share
NFRA $64.63
OBOR $26.10
52W range

ETF.net Grade

NFRA: Cost 74, Risk 72, Mission not scored, Tradability 65, Holdings 88, Durability 81. OBOR: Cost 17, Risk 30, Mission not scored, Tradability 15, Holdings 54, Durability 31.
Pillar letters and Scores for NFRA, OBOR, with each pillar’s weight
PillarNFRAOBOR
Cost30% weightA74HigherF17
Mission25% weightNot scoredNot scored
Risk15% weightA72HigherD30
Tradability15% weightB65HigherF15
Holdings10% weightA88HigherC54
Durability5% weightA81HigherD31

Rank among Infrastructure funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

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

Infrastructure⁠

Category · 33 funds
See all 33 ›

NFRA ranks 4th and OBOR 30th of 33 funds in the Infrastructure Category.

  1. Rank 1AIFRAiShares U.S. Infrastructure ETFScore 86
  2. Rank 2AIGFiShares Global Infrastructure ETFScore 83
  3. Rank 3AGIIState Street SPDR S&P Global Infrastructure ETFScore 78
  4. Rank 4ANFRANorthern Trust STOXX Global Broad Infrastructure ETFScore 74
  5. Rank 5APAVEGlobal X U.S. Infrastructure Development ETFScore 71
  6. Rank 29DGLIXLazard Listed Infrastructure ETFScore 29
  7. Rank 30DOBORKraneShares MSCI One Belt One Road Index ETFScore 25
  8. Rank 30DTPZTortoise Electrification Infrastructure ETFScore 25

Our read on each fund

ETF.net Research

NFRAANorthern Trust STOXX Global Broad Infrastructure ETF

OBORDKraneShares MSCI One Belt One Road Index ETF

In short

NFRA Most global infrastructure funds stop at utilities and toll roads. NFRA's index goes wider, adding cell towers, data centers, hospitals, prisons and postal routes to the pipelines and railroads, across developed and emerging markets.

OBOR A one-idea fund: the build-out of China's One Belt One Road. It buys companies worldwide (developed, emerging and frontier) whose revenue rides on China infrastructure, not just Chinese-listed names.

Stated mandate

NFRA The fund seeks to match, before fees and expenses, the performance of the STOXX Global Broad Infrastructure Index.

OBOR OBOR seeks to track the price and yield performance of an MSCI index designed to identify companies that may benefit from China’s One Belt One Road infrastructure initiative.

Why people hold it

  • NFRA Five supersectors in one wrapper: communications, energy, utilities, transportation and government outsourcing (hospitals, postal, correctional), across roughly 220 holdings.flexshares.com
  • Charges 0.47% net (0.48% gross), net of a waiver through March 1, 2027, below the infrastructure category median.
  • The index does real work: half of revenue must come from infrastructure, names must clear a $1 million daily-volume screen, and sector caps limit crowding. Rebalanced quarterly.flexshares.com
  • Listed in 2013 and now a multi-billion-dollar fund that pays quarterly, it sits among the stronger builds in its peer group.
  • OBOR Launched in 2017 as a rare direct route to the Belt and Road theme, tracking MSCI's Global China Infrastructure Exposure Index.kraneshares.com
  • The screen is revenue-based, not address-based: developed, emerging and frontier market companies with high revenue exposure to China infrastructure development.msci.com
  • Roughly 130 holdings spread the theme across a supply chain rather than a handful of contractors.

Worth knowing

  • NFRA Cheaper options sit on the same shelf: IFRA at 0.30%, IGF at 0.37%, GII at 0.40%. Each tracks a different index with a different definition of infrastructure.
  • Broad cuts both ways: telecoms, railroads and postal operators share the portfolio with utilities, so this is not a pure regulated-utility sleeve.flexshares.comflexshares.com 2
  • Volume is moderate rather than heavy for the category, which can mean wider spreads on larger orders.
  • OBOR At 0.79%, it costs more than the typical infrastructure ETF (cohort median 0.55%); broader peers like IGF (0.37%) and PAVE (0.47%) charge less.
  • Small and thinly traded, so spreads can be wide and limit orders matter. Sub-scale funds also carry more closure risk than large ones.
  • One policy program, one government's priorities drive the theme, and cash comes back only once or twice a year, not monthly.

Full NFRA profile⁠

Full OBOR profile⁠

NFRA vs OBOR 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.

NFRA vs OBOR Cost

Overpaying OBOR vs NFRA

$5,756

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

  • NFRA 0.47%

    $9,418

  • OBOR 0.79%

    $15,174

$10,000
30 years

Cost over time

  • NFRA 0.47%
  • OBOR 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530OBOR $15,174NFRA $9,418

Year by year

YearNFRAOBOROverpaying
10$847$1,405$558
20$3,261$5,331$2,070
30$9,418$15,174$5,756

Expense ratio

  • 0.47%NFRA, cheaper
  • 0.79%OBOR
  • Middle half of Infrastructure funds
  • Median 0.55%

NFRA 10th cheapest of 33 funds

OBOR 27th cheapest of 33 funds

NFRA vs OBOR Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
NFRA 5.73%, better
OBOR 1.98%
Payout (12M)
NFRA $3.70
OBOR $0.51
Last payment
NFRA $0.33
OBOR $0.51
Ex-dividend
NFRA Sep 18, 2026
OBOR Dec 22, 2025
Paid on
NFRA Sep 24, 2026
OBOR Dec 23, 2025
Frequency
NFRA Quarterly
OBOR Annual

Distribution history

Per share, 2017 to 2026, same scale for both

NFRAQuarterly · 40 paymentsAll NFRA payments⁠
One bar per payment. 40 payments from 2017 to 2026 YTD. Mar 20, 2017 $0.14; Jun 19, 2017 $0.49; Sep 18, 2017 $0.35; Dec 21, 2017 $0.39; Mar 19, 2018 $0.19; Jun 18, 2018 $0.44; Sep 24, 2018 $0.39; Dec 21, 2018 $0.32; Mar 15, 2019 $0.19; Jun 21, 2019 $0.40; Sep 20, 2019 $0.31; Dec 20, 2019 $0.32; Mar 20, 2020 $0.22; Jun 19, 2020 $0.26; Sep 18, 2020 $0.38; Dec 18, 2020 $0.33; Mar 19, 2021 $0.18; Jun 18, 2021 $0.39; Sep 17, 2021 $0.41; Dec 17, 2021 $0.52; Dec 30, 2021 $0.06; Mar 18, 2022 $0.17; Jun 17, 2022 $0.46; Sep 16, 2022 $0.29; Dec 16, 2022 $0.23; Mar 17, 2023 $0.13; Jun 16, 2023 $0.55; Sep 15, 2023 $0.32; Dec 15, 2023 $0.37; Mar 15, 2024 $0.13; Jun 21, 2024 $0.55; Sep 20, 2024 $0.35; Dec 20, 2024 $0.78; Mar 21, 2025 $0.14; Jun 20, 2025 $0.54; Sep 19, 2025 $0.33; Dec 19, 2025 $2.62; Mar 20, 2026 $0.16; Jun 18, 2026 $0.60; Sep 18, 2026 $0.33. Use the arrow keys to read each point.$0$2.502017202020232026YTD
OBORAnnual · 9 paymentsAll OBOR payments⁠
One bar per payment. 9 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.03; Dec 26, 2018 $0.61; Dec 27, 2019 $1.05; Dec 29, 2020 $0.55; Dec 29, 2021 $0.99; Dec 28, 2022 $1.08; Dec 18, 2023 $0.69; Dec 17, 2024 $0.82; Dec 22, 2025 $0.51. Use the arrow keys to read each point.$0$2.502017202020232026YTD

NFRA vs OBOR Risk

Fall from peak · 5 years

  • NFRA
  • OBOR
Nov 2, 2021 to Nov 2, 2026. Worst fall: OBOR −34.0% · Oct 2023. Use the arrow keys to read each point.−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
NFRA 11.6%, betterOBOR 12.4%
Return per unit of riskSharpe ratio, 3 years
NFRA 0.87, betterOBOR 0.68
Worst fallMax drawdown, 5 years
NFRA −22.1%, betterOBOR −34.0%
Market sensitivityBeta, 5 years
NFRA 0.68OBOR 0.70

NFRA and OBOR in the news

All news⁠

Popular comparisons

  • NFRAAvsIFRAA

    Northern Trust STOXX Global Broad Infrastructure ETF · iShares U.S. Infrastructure ETF

    Expense ratio
    0.47% · 0.30%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • OBORDvsIFRAA

    KraneShares MSCI One Belt One Road Index ETF · iShares U.S. Infrastructure ETF

    Expense ratio
    0.79% · 0.30%
    Category
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  • NFRAAvsIGFA

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    Expense ratio
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  • OBORDvsIGFA

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    Expense ratio
    0.79% · 0.37%
    Category
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  • NFRAAvsGIIA

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    Expense ratio
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    Category
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  • OBORDvsGIIA

    KraneShares MSCI One Belt One Road Index ETF · State Street SPDR S&P Global Infrastructure ETF

    Expense ratio
    0.79% · 0.40%
    Category
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