BILT vs. NFRA

Last updated Jun 4, 2026

BILT (iShares Infrastructure Active ETF) and NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) are both Utilities Equities funds. BILT is actively managed, while NFRA is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. BILT charges 0.60%/yr vs 0.47%/yr for NFRA.

Performance

BILT vs. NFRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Infrastructure Active ETF (BILT) and FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BILT achieves a 12.39% return, which is significantly higher than NFRA's 8.93% return.

BILT

• 1D: 0.00%
• 1M: -1.24%
• YTD: 12.39%
• 6M: 11.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFRA

• 1D: -1.08%
• 1M: 0.27%
• YTD: 8.93%
• 6M: 9.67%
• 1Y: 13.59%
• 3Y*: 12.91%
• 5Y*: 5.56%
• 10Y*: 7.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BILT vs. NFRA - Yearly Performance Comparison

	2026 (YTD)	2025
BILT iShares Infrastructure Active ETF	12.39%	3.99%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	8.93%	4.74%

Correlation

The correlation between BILT and NFRA is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025	0.78

Return for Risk

BILT vs. NFRA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NFRA

NFRA Risk / Return Rank: 37
NFRA Sharpe Ratio Rank: 36
NFRA Sortino Ratio Rank: 36
NFRA Omega Ratio Rank: 35
NFRA Calmar Ratio Rank: 38
NFRA Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BILT vs. NFRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Infrastructure Active ETF (BILT) and FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BILT	NFRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.32	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.48	+1.51

Drawdowns

BILT vs. NFRA - Drawdown Comparison

The maximum BILT drawdown since its inception was -5.38%, smaller than the maximum NFRA drawdown of -32.49%. Use the drawdown chart below to compare losses from any high point for BILT and NFRA.

Drawdown Indicators

	BILT	NFRA	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-32.49%	+27.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.49%	—
Current Drawdown Current decline from peak	-2.36%	-2.15%	-0.21%
Average Drawdown Average peak-to-trough decline	-1.44%	-4.53%	+3.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.27%	—

Volatility

Volatility by Period

	BILT	NFRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.28%	10.37%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.28%	12.98%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.28%	14.97%	-4.69%

BILT vs. NFRA - Expense Ratio Comparison

BILT has a 0.60% expense ratio, which is higher than NFRA's 0.47% expense ratio.

Dividends

BILT vs. NFRA - Dividend Comparison

BILT's dividend yield for the trailing twelve months is around 1.33%, less than NFRA's 5.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BILT iShares Infrastructure Active ETF	1.33%	0.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	5.54%	6.00%	3.33%	2.57%	2.28%	2.71%	2.22%	2.27%	3.06%	2.81%	2.98%	2.47%

Frequently Asked Questions

Can I hold both BILT and NFRA in my portfolio?

BILT and NFRA have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BILT or NFRA?

On fees, NFRA is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BILT or NFRA?

NFRA is cheaper with a 0.47% expense ratio, compared with 0.60% for BILT.

Which ETF pays a higher dividend yield, BILT or NFRA?

NFRA has the higher dividend yield at 5.54%, compared with 1.33% for BILT.

What is the main difference between BILT and NFRA?

They also come from different issuers: iShares and FlexShares. Their fees differ too: 0.60% for BILT and 0.47% for NFRA.