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NFRA vs TPZ

Northern Trust STOXX Global Broad Infrastructure ETF

NFRAANYSE Arca

Tortoise Electrification Infrastructure ETF

TPZDNYSE

Overlap

Expense ratio

NFRA −0.38pt a year

NFRA0.47%TPZ0.85%

Avg volume · 30D

NFRA 9.2×the volume

NFRA78.3KTPZ8.56K

NFRA vs TPZ Performance

Oct 31, 2025 – Nov 2, 2026

+9.3%NFRA+4.4%TPZ

Oct 31, 2025 to Nov 2, 2026. NFRA +9.3%. TPZ +4.4%. Use the arrow keys to read each point.−2.5%0%2.5%7.5%12.5%Oct 2025May 2026Nov 2026
Expense ratio
NFRA 0.47%, better
TPZ 0.85%
Fund size
NFRA $3.06B
TPZ $113M
1Y total return
NFRA +9.3%, better
TPZ +4.4%
Yield (12M)
NFRA 5.73%, better
TPZ 3.56%
Holdings
NFRA 202
TPZ 36
Avg volume (30D)
NFRA 78.3K sh, better
TPZ 8.56K sh
NAV per share
NFRA $64.63
TPZ $20.95
52W range

ETF.net Grade

NFRA: Cost 74, Risk 72, Mission not scored, Tradability 65, Holdings 88, Durability 81. TPZ: Cost 9, Risk 49, Mission not scored, Tradability 29, Holdings 29, Durability 40.
Pillar letters and Scores for NFRA, TPZ, with each pillar’s weight
PillarNFRATPZ
Cost30% weightA74HigherF9
Mission25% weightNot scoredNot scored
Risk15% weightA72HigherC49
Tradability15% weightB65HigherD29
Holdings10% weightA88HigherD29
Durability5% weightA81HigherC40

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 TPZ 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 TPZ 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 30DOBORKraneShares MSCI One Belt One Road Index ETFScore 25
  7. Rank 30DTPZTortoise Electrification Infrastructure ETFScore 25
  8. Rank 32FWUGIAXS Esoterica NextG Economy ETFScore 19
  9. MLPANot yet graded

Our read on each fund

ETF.net Research

NFRAANorthern Trust STOXX Global Broad Infrastructure ETF

TPZDTortoise Electrification Infrastructure 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.

TPZ Most infrastructure funds buy the whole board: airports, toll roads, pipelines. TPZ narrows to power and energy infrastructure with a stated emphasis on stable, defensive names. A specialist in a cohort of generalists.

Stated mandate

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

TPZ The Fund seeks exposure primarily to power and energy infrastructure companies, with an emphasis on stable and defensive investments.

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.
  • TPZ Most of this cohort buys infrastructure wholesale. IGF, GII and TOLZ sweep in transport, utilities and the rest. TPZ stays on the power and energy side.
  • The defensive tilt sits in the mandate itself, which calls for an emphasis on stable and defensive investments, not just in the marketing.
  • A late-2024 launch built around electrification infrastructure from the start, rather than a broad infrastructure index with some power names in it.

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.
  • TPZ At 0.85%, it runs above the 0.55% cohort median and well above index rivals like IFRA (0.30%) and IGF (0.37%). The narrow lens carries a price.
  • It is a small fund and thinly traded, so the bid-ask spread can cost more than the fee for anyone moving in and out on short notice.
  • Distributions arrive on an irregular schedule, and the end-2024 launch leaves a short record to judge it by.

Full NFRA profile⁠

Full TPZ profile⁠

NFRA vs TPZ 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 TPZ Cost

Overpaying TPZ vs NFRA

$6,781

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

  • NFRA 0.47%

    $9,418

  • TPZ 0.85%

    $16,199

$10,000
30 years

Cost over time

  • NFRA 0.47%
  • TPZ 0.85%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TPZ $16,199NFRA $9,418

Year by year

YearNFRATPZOverpaying
10$847$1,508$661
20$3,261$5,706$2,445
30$9,418$16,199$6,781

Expense ratio

  • 0.47%NFRA, cheaper
  • 0.85%TPZ
  • Middle half of Infrastructure funds
  • Median 0.55%

NFRA 10th cheapest of 33 funds

TPZ 30th cheapest of 33 funds

NFRA vs TPZ Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
NFRA 5.73%, better
TPZ 3.56%
Payout (12M)
NFRA $3.70
TPZ $0.75
Last payment
NFRA $0.33
TPZ $0.20
Ex-dividend
NFRA Sep 18, 2026
TPZ Sep 24, 2026
Paid on
NFRA Sep 24, 2026
TPZ Sep 25, 2026
Frequency
NFRA Quarterly
TPZ Quarterly

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
TPZQuarterly · 111 paymentsAll TPZ payments⁠
One bar per payment. 111 payments from 2017 to 2026 YTD. Jan 20, 2017 $0.13; Feb 17, 2017 $0.13; Mar 22, 2017 $0.13; Apr 19, 2017 $0.13; May 22, 2017 $0.13; Jun 21, 2017 $0.13; Jul 20, 2017 $0.13; Aug 22, 2017 $0.13; Sep 21, 2017 $0.13; Oct 23, 2017 $0.13; Nov 21, 2017 $0.13; Dec 21, 2017 $0.13; Jan 23, 2018 $0.13; Feb 20, 2018 $0.13; Mar 21, 2018 $0.13; Apr 20, 2018 $0.13; May 23, 2018 $0.13; Jun 21, 2018 $0.13; Jul 23, 2018 $0.13; Aug 23, 2018 $0.13; Sep 20, 2018 $0.13; Oct 23, 2018 $0.13; Nov 21, 2018 $0.13; Dec 21, 2018 $0.13; Jan 23, 2019 $0.13; Feb 20, 2019 $0.13; Mar 21, 2019 $0.13; Apr 22, 2019 $0.13; May 23, 2019 $0.13; Jun 20, 2019 $0.13; Jul 23, 2019 $0.13; Aug 22, 2019 $0.13; Sep 20, 2019 $0.13; Oct 23, 2019 $0.13; Nov 21, 2019 $0.13; Dec 23, 2019 $0.13; Jan 23, 2020 $0.13; Feb 20, 2020 $0.13; Mar 23, 2020 $0.13; Apr 22, 2020 $0.13; May 21, 2020 $0.13; Jun 22, 2020 $0.05; Jul 23, 2020 $0.05; Aug 21, 2020 $0.05; Sep 22, 2020 $0.05; Oct 22, 2020 $0.05; Nov 20, 2020 $0.05; Dec 23, 2020 $0.05; Jan 21, 2021 $0.05; Feb 18, 2021 $0.05; Mar 23, 2021 $0.05; Apr 22, 2021 $0.05; May 20, 2021 $0.05; Jun 22, 2021 $0.05; Jul 22, 2021 $0.05; Aug 23, 2021 $0.06; Sep 22, 2021 $0.06; Oct 21, 2021 $0.06; Nov 22, 2021 $0.06; Dec 22, 2021 $0.06; Jan 21, 2022 $0.06; Feb 17, 2022 $0.11; Mar 23, 2022 $0.11; Apr 21, 2022 $0.11; May 23, 2022 $0.11; Jun 22, 2022 $0.11; Jul 21, 2022 $0.11; Aug 23, 2022 $0.11; Sep 22, 2022 $0.11; Oct 21, 2022 $0.11; Nov 22, 2022 $0.11; Dec 22, 2022 $0.11; Jan 23, 2023 $0.11; Feb 17, 2023 $0.11; Mar 23, 2023 $0.11; Apr 20, 2023 $0.11; May 23, 2023 $0.11; Jun 22, 2023 $0.11; Jul 21, 2023 $0.11; Aug 23, 2023 $0.11; Sep 21, 2023 $0.11; Oct 23, 2023 $0.11; Nov 21, 2023 $0.11; Dec 21, 2023 $0.11; Jan 23, 2024 $0.11; Feb 21, 2024 $0.11; Mar 21, 2024 $0.11; Apr 22, 2024 $0.11; May 23, 2024 $0.11; Jun 21, 2024 $0.11; Jul 24, 2024 $0.11; Aug 23, 2024 $0.11; Sep 23, 2024 $0.11; Oct 24, 2024 $0.11; Nov 22, 2024 $0.11; Dec 31, 2024 $0.03; Jan 30, 2025 $0.07; Feb 27, 2025 $0.07; Mar 27, 2025 $0.07; Apr 24, 2025 $0.07; May 22, 2025 $0.07; Jun 26, 2025 $0.07; Jul 24, 2025 $0.07; Aug 21, 2025 $0.07; Sep 25, 2025 $0.07; Oct 23, 2025 $0.07; Nov 25, 2025 $0.07; Dec 31, 2025 $0.07; Mar 26, 2026 $0.20; Jun 25, 2026 $0.20; Sep 24, 2026 $0.20. Use the arrow keys to read each point.$0$2.502017202020232026YTD

NFRA vs TPZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NFRA 11.6%TPZ 14.6%since Jan 2025
Return per unit of riskSharpe ratio, 3 years
NFRA 0.87TPZ 0.29since Jan 2025
Worst fallMax drawdown, 5 years
NFRA −22.1%TPZ −17.8%since Dec 2024
Market sensitivityBeta, 5 years
NFRA 0.68TPZ 0.45

NFRA and TPZ in the news

All news⁠

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