ICAP vs. INFR

Last updated Aug 2, 2026

ICAP (Infrastructure Capital Equity Income ETF) and INFR (ClearBridge Sustainable Infrastructure ETF) are both exchange-traded funds - ICAP is a Derivative Income fund actively managed by InfraCap, while INFR is a Infrastructure Equities fund tracking the RARE Global Infrastructure Index. ICAP is actively managed, while INFR is passively managed. Their 0.49 correlation means their historical movements had little consistent relationship. ICAP charges 2.47%/yr vs 0.59%/yr for INFR.

Performance

ICAP vs. INFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Infrastructure Capital Equity Income ETF (ICAP) and ClearBridge Sustainable Infrastructure ETF (INFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ICAP

• 1D: 1.10%
• 1M: 1.12%
• 6M: 4.76%
• YTD: 8.65%
• 1Y: 18.28%
• 3Y*: 15.47%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.08%

INFR

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ICAP Infrastructure Capital Equity Income ETF	$705.93K	$687.44K	$943.59K

ICAP vs. INFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ICAP Infrastructure Capital Equity Income ETF	8.65%	15.77%	14.83%	8.82%	-0.51%
INFR ClearBridge Sustainable Infrastructure ETF	1.41%	24.00%	-6.23%	5.20%	-0.19%

Correlation

The correlation between ICAP and INFR is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.47
Correlation (All Time) Calculated using the full available price history since Dec 16, 2022	0.49

The correlation between ICAP and INFR shifts across timeframes, from 0.29 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

ICAP vs. INFR - Sectors Allocation Comparison

Sectors	ICAP	INFR
Financial Services	24.8%	-
Consumer Cyclical	19.4%	-
Technology	11.3%	-
Utilities	8.7%	68.5%
Industrials	7.8%	27.5%
Energy	7.8%	-
Consumer Defensive	6.6%	-
Real Estate	4.4%	4.1%
Healthcare	3.8%	-
Communication Services	3.0%	-
Basic Materials	2.6%	-

Return for Risk

ICAP vs. INFR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ICAP

ICAP Risk / Return Rank: 50
ICAP Sharpe Ratio Rank: 53
ICAP Sortino Ratio Rank: 51
ICAP Omega Ratio Rank: 50
ICAP Calmar Ratio Rank: 45
ICAP Martin Ratio Rank: 52

INFR

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ICAP vs. INFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Infrastructure Capital Equity Income ETF (ICAP) and ClearBridge Sustainable Infrastructure ETF (INFR). 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.

	ICAP	INFR	Difference
Sharpe ratio: Return per unit of total volatility	1.28	—	—
Sortino ratio: Return per unit of downside risk	1.81	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.63	—	—
Martin ratio: Return relative to average drawdown	6.14	—	—

Drawdowns

Drawdown Indicators

	ICAP	INFR	Difference
Max Drawdown Largest peak-to-trough decline	-24.20%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.31%	—	—
Current Drawdown Current decline from peak	-0.34%	—	—
Average Drawdown Average peak-to-trough decline	-7.59%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	—	—

Volatility

Volatility by Period

	ICAP	INFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.55%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	—	—

ICAP vs. INFR - Expense Ratio Comparison

ICAP has a 2.47% expense ratio, which is higher than INFR's 0.59% expense ratio.

Dividends

ICAP vs. INFR - Dividend Comparison

ICAP's dividend yield for the trailing twelve months is around 9.93%, while INFR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
ICAP Infrastructure Capital Equity Income ETF	9.93%	8.89%	8.30%	8.65%	8.95%
INFR ClearBridge Sustainable Infrastructure ETF	1.71%	2.52%	2.36%	3.06%	0.00%

Frequently Asked Questions

Can I hold both ICAP and INFR in my portfolio?

ICAP and INFR have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICAP or INFR?

On fees, INFR is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICAP or INFR?

INFR is cheaper with a 0.59% expense ratio, compared with 2.47% for ICAP.

Which ETF pays a higher dividend yield, ICAP or INFR?

ICAP has the higher dividend yield at 9.93%, compared with 1.71% for INFR.

What is the main difference between ICAP and INFR?

ICAP is categorized as Derivative Income, while INFR is Infrastructure Equities. They also come from different issuers: InfraCap and ClearBridge. Their fees differ too: 2.47% for ICAP and 0.59% for INFR.