BILT vs. NFRX

Last updated Jun 5, 2026

BILT (iShares Infrastructure Active ETF) and NFRX (Harrison Street Infrastructure Active ETF) are both Utilities Equities funds. Both are actively managed. Their correlation of 0.94 suggests significant overlap in exposure. BILT charges 0.60%/yr vs 0.80%/yr for NFRX.

Performance

BILT vs. NFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Infrastructure Active ETF (BILT) and Harrison Street Infrastructure Active ETF (NFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BILT

• 1D: 0.40%
• 1M: -1.04%
• YTD: 12.84%
• 6M: 12.40%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFRX

• 1D: 0.68%
• 1M: -2.39%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BILT vs. NFRX - Yearly Performance Comparison

	2026 (YTD)
BILT iShares Infrastructure Active ETF	7.60%
NFRX Harrison Street Infrastructure Active ETF	5.68%

Correlation

The correlation between BILT and NFRX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 2, 2026	0.94

Return for Risk

BILT vs. NFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Infrastructure Active ETF (BILT) and Harrison Street Infrastructure Active ETF (NFRX). 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	NFRX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.05	1.23	+0.81

Drawdowns

BILT vs. NFRX - Drawdown Comparison

The maximum BILT drawdown since its inception was -5.38%, smaller than the maximum NFRX drawdown of -7.26%. Use the drawdown chart below to compare losses from any high point for BILT and NFRX.

Drawdown Indicators

	BILT	NFRX	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-7.26%	+1.88%
Current Drawdown Current decline from peak	-1.97%	-4.08%	+2.11%
Average Drawdown Average peak-to-trough decline	-1.44%	-2.62%	+1.18%

Volatility

Volatility by Period

	BILT	NFRX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	10.26%	14.31%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.26%	14.31%	-4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.26%	14.31%	-4.05%

BILT vs. NFRX - Expense Ratio Comparison

BILT has a 0.60% expense ratio, which is lower than NFRX's 0.80% expense ratio.

Dividends

BILT vs. NFRX - Dividend Comparison

BILT's dividend yield for the trailing twelve months is around 1.33%, more than NFRX's 0.22% yield.

Position	TTM	2025
BILT iShares Infrastructure Active ETF	1.33%	0.99%
NFRX Harrison Street Infrastructure Active ETF	0.22%	0.00%

Frequently Asked Questions

Can I hold both BILT and NFRX in my portfolio?

With a correlation of 0.94, BILT and NFRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BILT or NFRX?

On fees, BILT is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BILT or NFRX?

BILT is cheaper with a 0.60% expense ratio, compared with 0.80% for NFRX.

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

BILT has the higher dividend yield at 1.33%, compared with 0.22% for NFRX.

What is the main difference between BILT and NFRX?

They also come from different issuers: iShares and Harrison Street. Their fees differ too: 0.60% for BILT and 0.80% for NFRX.