IGF vs. UPGR

Last updated Aug 2, 2026

IGF (iShares Global Infrastructure ETF) and UPGR (Xtrackers US Green Infrastructure Select Equity ETF) are both Infrastructure Equities funds - IGF tracks the S&P Global Infrastructure Index (Net) while UPGR tracks the Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, IGF returned 16.16%/yr vs -0.42%/yr for UPGR. Their 0.49 correlation means their historical movements had little consistent relationship. IGF charges 0.39%/yr vs 0.35%/yr for UPGR.

Performance

IGF vs. UPGR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Infrastructure ETF (IGF) and Xtrackers US Green Infrastructure Select Equity ETF (UPGR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGF achieves a 10.41% return, which is significantly higher than UPGR's 0.49% return.

IGF

• 1D: -0.28%
• 1M: -0.09%
• 6M: 5.19%
• YTD: 10.41%
• 1Y: 16.30%
• 3Y*: 16.16%
• 5Y*: 11.05%
• 10Y*: 8.14%
• ALL TIME*: 4.91%

UPGR

• 1D: -0.96%
• 1M: -9.75%
• 6M: -8.21%
• YTD: 0.49%
• 1Y: 28.76%
• 3Y*: -0.42%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.60%

*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)
IGF iShares Global Infrastructure ETF	$38.15M	$37.64M	$47.97M
UPGR Xtrackers US Green Infrastructure Select Equity ETF	$4.45K	$12.30K	$33.82K

IGF vs. UPGR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IGF iShares Global Infrastructure ETF	10.41%	21.31%	14.81%	0.77%
UPGR Xtrackers US Green Infrastructure Select Equity ETF	0.49%	35.25%	-14.72%	-15.29%

Correlation

The correlation between IGF and UPGR is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023	0.49

IGF vs. UPGR - Sectors Allocation Comparison

Sectors	IGF	UPGR
Utilities	40.0%	8.7%
Industrials	36.4%	54.6%
Energy	20.5%	1.6%
Real Estate	0.1%	-
Basic Materials	-	11.8%
Communication Services	-	-
Consumer Cyclical	-	9.3%
Consumer Defensive	-	2.8%
Financial Services	-	0.2%
Healthcare	-	-
Technology	-	10.9%

Return for Risk

IGF vs. UPGR — Risk / Return Rank

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

IGF

IGF Risk / Return Rank: 69
IGF Sharpe Ratio Rank: 69
IGF Sortino Ratio Rank: 69
IGF Omega Ratio Rank: 66
IGF Calmar Ratio Rank: 79
IGF Martin Ratio Rank: 63

UPGR

UPGR Risk / Return Rank: 32
UPGR Sharpe Ratio Rank: 32
UPGR Sortino Ratio Rank: 33
UPGR Omega Ratio Rank: 30
UPGR Calmar Ratio Rank: 33
UPGR Martin Ratio Rank: 33

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.

IGF vs. UPGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure ETF (IGF) and Xtrackers US Green Infrastructure Select Equity ETF (UPGR). 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.

	IGF	UPGR	Difference
Sharpe ratio: Return per unit of total volatility	1.55	0.78	+0.78
Sortino ratio: Return per unit of downside risk	2.25	1.25	+1.00
Omega ratio: Gain probability vs. loss probability	1.28	1.15	+0.13
Calmar ratio: Return relative to maximum drawdown	2.83	1.13	+1.70
Martin ratio: Return relative to average drawdown	7.59	3.00	+4.58

IGF vs. UPGR - Sharpe Ratio Comparison

The current IGF Sharpe Ratio is 1.55, which is higher than the UPGR Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of IGF and UPGR, 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

IGF vs. UPGR - Drawdown Comparison

The maximum IGF drawdown since its inception was -58.33%, which is greater than UPGR's maximum drawdown of -46.60%. Use the drawdown chart below to compare losses from any high point for IGF and UPGR.

Drawdown Indicators

	IGF	UPGR	Difference
Max Drawdown Largest peak-to-trough decline	-58.33%	-46.60%	-11.73%
Max Drawdown (1Y) Largest decline over 1 year	-5.87%	-22.71%	+16.84%
Max Drawdown (3Y) Largest decline over 3 years	-11.31%	-42.58%	+31.27%
Max Drawdown (5Y) Largest decline over 5 years	-20.83%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.11%	—	—
Current Drawdown Current decline from peak	-2.34%	-19.78%	+17.44%
Average Drawdown Average peak-to-trough decline	-11.79%	-20.11%	+8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	8.51%	-6.32%

Volatility

IGF vs. UPGR - Volatility Comparison

The current volatility for iShares Global Infrastructure ETF (IGF) is 2.75%, while Xtrackers US Green Infrastructure Select Equity ETF (UPGR) has a volatility of 10.88%. This indicates that IGF experiences smaller price fluctuations and is considered to be less risky than UPGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGF	UPGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.75%	10.88%	-8.13%
Volatility (6M) Calculated over the trailing 6-month period	8.92%	24.18%	-15.26%
Volatility (1Y) Calculated over the trailing 1-year period	10.69%	32.98%	-22.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.95%	31.08%	-17.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	31.08%	-14.37%

IGF vs. UPGR - Expense Ratio Comparison

IGF has a 0.39% expense ratio, which is higher than UPGR's 0.35% expense ratio.

Dividends

IGF vs. UPGR - Dividend Comparison

IGF's dividend yield for the trailing twelve months is around 2.89%, more than UPGR's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGF iShares Global Infrastructure ETF	2.89%	3.23%	3.21%	3.36%	2.67%	2.42%	2.33%	3.27%	3.52%	2.95%	2.98%	3.25%
UPGR Xtrackers US Green Infrastructure Select Equity ETF	0.32%	0.39%	1.16%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGF and UPGR in my portfolio?

IGF and UPGR have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGF or UPGR?

UPGR has higher volatility (10.88%) compared to IGF (2.75%). In terms of maximum drawdown, IGF dropped -58.33% vs UPGR's -46.60%.

Which ETF is better, IGF or UPGR?

On 3-year performance, IGF leads with 16.16% vs -0.42% for UPGR. On fees, UPGR is cheaper at 0.35% per year. On volatility, IGF has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGF or UPGR?

Over the 3-year period, IGF has performed better with a 16.16% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGF or UPGR?

UPGR is cheaper with a 0.35% expense ratio, compared with 0.39% for IGF.

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

IGF has the higher dividend yield at 2.89%, compared with 0.32% for UPGR.

What is the main difference between IGF and UPGR?

IGF tracks S&P Global Infrastructure Index (Net), while UPGR tracks Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.39% for IGF and 0.35% for UPGR.

Which has better risk-adjusted returns?

IGF currently has the higher Sharpe Ratio (1.55 vs 0.78), 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.