GII vs. IGF

Last updated Jun 23, 2026

GII (SPDR S&P Global Infrastructure ETF) and IGF (iShares Global Infrastructure ETF) are both exchange-traded funds - GII is a Utilities Equities fund tracking the S&P Global Infrastructure, while IGF is a Industrials Equities fund tracking the S&P Global Infrastructure Index (Net). Both are passively managed. Over the past 10 years, GII returned 8.70%/yr vs 8.80%/yr for IGF. Their correlation of 0.87 suggests significant overlap in exposure. GII charges 0.40%/yr vs 0.39%/yr for IGF.

Performance

GII vs. IGF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Global Infrastructure ETF (GII) and iShares Global Infrastructure ETF (IGF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GII having a 9.51% return and IGF slightly higher at 9.70%. Both investments have delivered pretty close results over the past 10 years, with GII having a 8.70% annualized return and IGF not far ahead at 8.80%.

GII

• 1D: 0.13%
• 1M: -0.19%
• YTD: 9.51%
• 6M: 10.02%
• 1Y: 18.20%
• 3Y*: 16.79%
• 5Y*: 10.83%
• 10Y*: 8.70%

IGF

• 1D: 0.03%
• 1M: -0.13%
• YTD: 9.70%
• 6M: 10.12%
• 1Y: 18.50%
• 3Y*: 16.79%
• 5Y*: 10.87%
• 10Y*: 8.80%

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

GII vs. IGF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GII SPDR S&P Global Infrastructure ETF	9.51%	21.79%	14.30%	5.90%	-0.54%	11.39%	-6.81%	26.32%	-10.08%	19.07%
IGF iShares Global Infrastructure ETF	9.70%	21.31%	14.81%	6.14%	-1.26%	11.57%	-6.50%	25.82%	-9.95%	19.31%

Correlation

The correlation between GII and IGF is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 12, 2007	0.87

The correlation between GII and IGF shifts across timeframes, from 0.87 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.

GII vs. IGF - Sectors Allocation Comparison

Sectors	GII	IGF
Industrials	27.8%	40.6%
Utilities	25.9%	39.7%
Energy	20.3%	19.6%
Financial Services	4.8%	-
Technology	2.5%	-
Communication Services	0.3%	-
Real Estate	0.1%	0.1%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-

Return for Risk

GII vs. IGF — Risk / Return Rank

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

GII

GII Risk / Return Rank: 53
GII Sharpe Ratio Rank: 50
GII Sortino Ratio Rank: 49
GII Omega Ratio Rank: 49
GII Calmar Ratio Rank: 64
GII Martin Ratio Rank: 52

IGF

IGF Risk / Return Rank: 55
IGF Sharpe Ratio Rank: 53
IGF Sortino Ratio Rank: 53
IGF Omega Ratio Rank: 51
IGF Calmar Ratio Rank: 66
IGF Martin Ratio Rank: 54

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.

GII vs. IGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Global Infrastructure ETF (GII) and iShares Global Infrastructure ETF (IGF). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GII	IGF	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.76	-0.08
Sortino ratio: Return per unit of downside risk	2.35	2.49	-0.14
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	3.08	3.17	-0.09
Martin ratio: Return relative to average drawdown	8.81	8.98	-0.17

GII vs. IGF - Sharpe Ratio Comparison

The current GII Sharpe Ratio is 1.68, which is comparable to the IGF Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of GII and IGF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GII vs. IGF - Drawdown Comparison

The maximum GII drawdown since its inception was -50.98%, smaller than the maximum IGF drawdown of -58.33%. Use the drawdown chart below to compare losses from any high point for GII and IGF.

Drawdown Indicators

	GII	IGF	Difference
Max Drawdown Largest peak-to-trough decline	-50.98%	-58.33%	+7.35%
Max Drawdown (1Y) Largest decline over 1 year	-5.94%	-5.87%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-14.31%	-14.28%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-20.67%	-20.83%	+0.16%
Max Drawdown (10Y) Largest decline over 10 years	-42.84%	-42.11%	-0.73%
Current Drawdown Current decline from peak	-2.97%	-2.96%	-0.01%
Average Drawdown Average peak-to-trough decline	-11.50%	-11.85%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.06%	+0.01%

Volatility

GII vs. IGF - Volatility Comparison

SPDR S&P Global Infrastructure ETF (GII) has a higher volatility of 3.60% compared to iShares Global Infrastructure ETF (IGF) at 3.38%. This indicates that GII's price experiences larger fluctuations and is considered to be riskier than IGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GII	IGF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.38%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	8.73%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	10.58%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.09%	13.97%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	16.82%	+0.32%

GII vs. IGF - Expense Ratio Comparison

GII has a 0.40% expense ratio, which is higher than IGF's 0.39% expense ratio.

Dividends

GII vs. IGF - Dividend Comparison

GII's dividend yield for the trailing twelve months is around 2.67%, less than IGF's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GII SPDR S&P Global Infrastructure ETF	2.67%	3.17%	3.23%	3.70%	3.07%	2.37%	2.66%	3.39%	3.31%	3.38%	3.11%	3.54%
IGF iShares Global Infrastructure ETF	2.91%	3.23%	3.21%	3.36%	2.67%	2.42%	2.33%	3.27%	3.52%	2.95%	2.98%	3.25%

Frequently Asked Questions

Can I hold both GII and IGF in my portfolio?

With a correlation of 0.98, GII and IGF 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 is riskier, GII or IGF?

GII has higher volatility (3.60%) compared to IGF (3.38%). In terms of maximum drawdown, GII dropped -50.98% vs IGF's -58.33%.

Which ETF is better, GII or IGF?

On 10-year performance, IGF leads with 8.80% vs 8.70% for GII. On fees, IGF is cheaper at 0.39% per year. On volatility, IGF has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GII or IGF?

Over the 10-year period, IGF has performed better with a 8.80% return vs 8.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GII or IGF?

IGF is cheaper with a 0.39% expense ratio, compared with 0.40% for GII.

Which ETF pays a higher dividend yield, GII or IGF?

IGF has the higher dividend yield at 2.91%, compared with 2.67% for GII.

What is the main difference between GII and IGF?

GII is categorized as Utilities Equities, while IGF is Industrials Equities. GII tracks S&P Global Infrastructure, while IGF tracks S&P Global Infrastructure Index (Net). They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for GII and 0.39% for IGF.

Which has better risk-adjusted returns?

IGF currently has the higher Sharpe Ratio (1.76 vs 1.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.