GBLD vs. EFRA

Last updated Jun 5, 2026

GBLD (Invesco MSCI Green Building ETF) and EFRA (iShares Environmental Infrastructure and Industrials ETF) are both exchange-traded funds - GBLD is a Sustainable fund tracking the MSCI Global Green Building Index, while EFRA is a Industrials Equities fund tracking the FTSE Green Revenues Select Infrastructure and Industrials Index. Both are passively managed. A 0.70 correlation means they provide meaningful diversification when combined. GBLD charges 0.39%/yr vs 0.47%/yr for EFRA.

Performance

GBLD vs. EFRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Green Building ETF (GBLD) and iShares Environmental Infrastructure and Industrials ETF (EFRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GBLD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFRA

• 1D: 0.18%
• 1M: -1.72%
• YTD: 5.15%
• 6M: 5.41%
• 1Y: 10.77%
• 3Y*: 11.43%
• 5Y*: —
• 10Y*: —

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

GBLD vs. EFRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GBLD Invesco MSCI Green Building ETF	4.52%	17.95%	-5.63%	6.39%	10.55%
EFRA iShares Environmental Infrastructure and Industrials ETF	5.15%	13.76%	8.09%	14.49%	7.48%

Correlation

The correlation between GBLD and EFRA is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Nov 4, 2022	0.70

The correlation between GBLD and EFRA shifts across timeframes, from 0.50 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GBLD vs. EFRA — Risk / Return Rank

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

EFRA

EFRA Risk / Return Rank: 22
EFRA Sharpe Ratio Rank: 23
EFRA Sortino Ratio Rank: 23
EFRA Omega Ratio Rank: 22
EFRA Calmar Ratio Rank: 22
EFRA Martin Ratio Rank: 23

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.

GBLD vs. EFRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Green Building ETF (GBLD) and iShares Environmental Infrastructure and Industrials ETF (EFRA). 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

	GBLD	EFRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.90	—

Drawdowns

Drawdown Indicators

	GBLD	EFRA	Difference
Max Drawdown Largest peak-to-trough decline	—	-16.25%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.20%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.25%	—
Current Drawdown Current decline from peak	—	-6.82%	—
Average Drawdown Average peak-to-trough decline	—	-3.63%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.87%	—

Volatility

Volatility by Period

	GBLD	EFRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	14.01%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	15.51%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.51%	—

GBLD vs. EFRA - Expense Ratio Comparison

GBLD has a 0.39% expense ratio, which is lower than EFRA's 0.47% expense ratio.

Dividends

GBLD vs. EFRA - Dividend Comparison

GBLD's dividend yield for the trailing twelve months is around 3.45%, less than EFRA's 4.12% yield.

Position	TTM	2025	2024	2023	2022	2021
EFRA iShares Environmental Infrastructure and Industrials ETF	4.12%	4.34%	3.79%	1.85%	0.14%	0.00%
GBLD Invesco MSCI Green Building ETF	3.45%	3.27%	5.34%	6.60%	3.79%	3.16%

Frequently Asked Questions

Can I hold both GBLD and EFRA in my portfolio?

GBLD and EFRA have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GBLD or EFRA?

On fees, GBLD is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GBLD or EFRA?

GBLD is cheaper with a 0.39% expense ratio, compared with 0.47% for EFRA.

Which ETF pays a higher dividend yield, GBLD or EFRA?

EFRA has the higher dividend yield at 4.12%, compared with 3.45% for GBLD.

What is the main difference between GBLD and EFRA?

GBLD is categorized as Sustainable, while EFRA is Industrials Equities. GBLD tracks MSCI Global Green Building Index, while EFRA tracks FTSE Green Revenues Select Infrastructure and Industrials Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for GBLD and 0.47% for EFRA.