IFRA vs. EFRA

Last updated Jul 14, 2026

IFRA (iShares U.S. Infrastructure ETF) and EFRA (iShares Environmental Infrastructure and Industrials ETF) are both Industrials Equities funds from iShares - IFRA tracks the NYSE FactSet U.S. Infrastructure Index (TR) while EFRA tracks the FTSE Green Revenues Select Infrastructure and Industrials Index. Both are passively managed. Over the past 3 years, IFRA returned 18.17%/yr vs 10.88%/yr for EFRA. Their correlation of 0.85 suggests significant overlap in exposure. IFRA charges 0.30%/yr vs 0.47%/yr for EFRA.

Performance

IFRA vs. EFRA - Performance Comparison

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

Returns By Period

In the year-to-date period, IFRA achieves a 18.18% return, which is significantly higher than EFRA's 7.85% return.

IFRA

• 1D: -0.05%
• 1M: -0.25%
• 6M: 12.82%
• YTD: 18.18%
• 1Y: 23.94%
• 3Y*: 18.17%
• 5Y*: 14.23%
• 10Y*: —

EFRA

• 1D: -0.83%
• 1M: 2.89%
• 6M: 3.60%
• YTD: 7.85%
• 1Y: 9.53%
• 3Y*: 10.88%
• 5Y*: —
• 10Y*: —

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

IFRA vs. EFRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IFRA iShares U.S. Infrastructure ETF	18.18%	15.90%	17.02%	13.42%	4.78%
EFRA iShares Environmental Infrastructure and Industrials ETF	7.85%	13.76%	8.09%	14.49%	8.75%

Correlation

The correlation between IFRA and EFRA is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.85

The correlation between IFRA and EFRA has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

IFRA vs. EFRA - Sectors Allocation Comparison

Sectors	IFRA	EFRA
Industrials	37.8%	64.1%
Utilities	37.7%	24.2%
Basic Materials	16.0%	2.5%
Energy	7.9%	-
Consumer Cyclical	0.4%	6.4%
Consumer Defensive	0.0%	-
Communication Services	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	2.8%

Return for Risk

IFRA vs. EFRA — Risk / Return Rank

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

IFRA

IFRA Risk / Return Rank: 64
IFRA Sharpe Ratio Rank: 59
IFRA Sortino Ratio Rank: 64
IFRA Omega Ratio Rank: 54
IFRA Calmar Ratio Rank: 72
IFRA Martin Ratio Rank: 70

EFRA

EFRA Risk / Return Rank: 22
EFRA Sharpe Ratio Rank: 23
EFRA Sortino Ratio Rank: 22
EFRA Omega Ratio Rank: 21
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.

IFRA vs. EFRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Infrastructure ETF (IFRA) 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.

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.

	IFRA	EFRA	Difference
Sharpe ratio: Return per unit of total volatility	1.58	0.65	+0.93
Sortino ratio: Return per unit of downside risk	2.37	1.02	+1.35
Omega ratio: Gain probability vs. loss probability	1.27	1.12	+0.15
Calmar ratio: Return relative to maximum drawdown	2.86	0.85	+2.01
Martin ratio: Return relative to average drawdown	10.09	2.24	+7.85

IFRA vs. EFRA - Sharpe Ratio Comparison

The current IFRA Sharpe Ratio is 1.58, which is higher than the EFRA Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of IFRA and EFRA, 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

IFRA vs. EFRA - Drawdown Comparison

The maximum IFRA drawdown since its inception was -41.06%, which is greater than EFRA's maximum drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for IFRA and EFRA.

Drawdown Indicators

	IFRA	EFRA	Difference
Max Drawdown Largest peak-to-trough decline	-41.06%	-16.25%	-24.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	-11.20%	+2.80%
Max Drawdown (3Y) Largest decline over 3 years	-19.93%	-16.25%	-3.68%
Max Drawdown (5Y) Largest decline over 5 years	-19.93%	—	—
Current Drawdown Current decline from peak	-3.68%	-4.42%	+0.74%
Average Drawdown Average peak-to-trough decline	-5.10%	-3.68%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	4.26%	-1.88%

Volatility

IFRA vs. EFRA - Volatility Comparison

iShares U.S. Infrastructure ETF (IFRA) and iShares Environmental Infrastructure and Industrials ETF (EFRA) have volatilities of 4.60% and 4.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IFRA	EFRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	4.70%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	11.84%	11.94%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.21%	14.75%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.88%	15.58%	+2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.32%	15.58%	+5.74%

IFRA vs. EFRA - Expense Ratio Comparison

IFRA has a 0.30% expense ratio, which is lower than EFRA's 0.47% expense ratio.

Dividends

IFRA vs. EFRA - Dividend Comparison

IFRA's dividend yield for the trailing twelve months is around 1.58%, less than EFRA's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EFRA iShares Environmental Infrastructure and Industrials ETF	4.09%	4.34%	3.79%	1.85%	0.14%	0.00%	0.00%	0.00%	0.00%
IFRA iShares U.S. Infrastructure ETF	1.58%	1.84%	1.75%	1.98%	1.98%	1.63%	2.08%	1.68%	2.50%

Frequently Asked Questions

Can I hold both IFRA and EFRA in my portfolio?

IFRA and EFRA have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IFRA or EFRA?

EFRA has higher volatility (4.70%) compared to IFRA (4.60%). In terms of maximum drawdown, IFRA dropped -41.06% vs EFRA's -16.25%.

Which ETF is better, IFRA or EFRA?

On 3-year performance, IFRA leads with 18.17% vs 10.88% for EFRA. On fees, IFRA is cheaper at 0.30% per year. On volatility, IFRA has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IFRA or EFRA?

Over the 3-year period, IFRA has performed better with a 18.17% return vs 10.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IFRA or EFRA?

IFRA is cheaper with a 0.30% expense ratio, compared with 0.47% for EFRA.

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

EFRA has the higher dividend yield at 4.09%, compared with 1.58% for IFRA.

What is the main difference between IFRA and EFRA?

IFRA tracks NYSE FactSet U.S. Infrastructure Index (TR), while EFRA tracks FTSE Green Revenues Select Infrastructure and Industrials Index. Their fees differ too: 0.30% for IFRA and 0.47% for EFRA.

Which has better risk-adjusted returns?

IFRA currently has the higher Sharpe Ratio (1.58 vs 0.65), 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.