INRO vs. TOLZ

Last updated Jun 4, 2026

INRO (Blackrock U.S. Industry Rotation ETF) and TOLZ (ProShares DJ Brookfield Global Infrastructure ETF) are both exchange-traded funds - INRO is a Large Cap Blend Equities fund actively managed by BlackRock, while TOLZ is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure Composite Index. INRO is actively managed, while TOLZ is passively managed. Over the past year, INRO returned 31.46% vs 13.97% for TOLZ. At a 0.29 correlation, their price movements are largely independent. INRO charges 0.42%/yr vs 0.46%/yr for TOLZ.

Performance

INRO vs. TOLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock U.S. Industry Rotation ETF (INRO) and ProShares DJ Brookfield Global Infrastructure ETF (TOLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INRO achieves a 13.22% return, which is significantly higher than TOLZ's 11.31% return.

INRO

• 1D: -0.65%
• 1M: 6.39%
• YTD: 13.22%
• 6M: 13.14%
• 1Y: 31.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOLZ

• 1D: -0.10%
• 1M: -1.82%
• YTD: 11.31%
• 6M: 11.51%
• 1Y: 13.97%
• 3Y*: 14.17%
• 5Y*: 8.46%
• 10Y*: 7.75%

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

INRO vs. TOLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
INRO Blackrock U.S. Industry Rotation ETF	13.22%	16.67%	10.88%
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	11.31%	14.76%	10.43%

Correlation

The correlation between INRO and TOLZ is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Apr 1, 2024	0.29

The correlation between INRO and TOLZ shifts across timeframes, from 0.15 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

INRO vs. TOLZ - Sectors Allocation Comparison

Sectors	INRO	TOLZ
Technology	38.4%	0.4%
Consumer Cyclical	11.3%	0.8%
Communication Services	10.4%	-
Financial Services	10.1%	2.0%
Industrials	9.7%	5.2%
Healthcare	7.9%	-
Consumer Defensive	6.4%	4.5%
Energy	3.7%	35.4%
Basic Materials	1.5%	-
Real Estate	0.6%	8.0%
Utilities	0.0%	22.2%

Return for Risk

INRO vs. TOLZ — Risk / Return Rank

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

INRO

INRO Risk / Return Rank: 75
INRO Sharpe Ratio Rank: 76
INRO Sortino Ratio Rank: 75
INRO Omega Ratio Rank: 75
INRO Calmar Ratio Rank: 68
INRO Martin Ratio Rank: 80

TOLZ

TOLZ Risk / Return Rank: 43
TOLZ Sharpe Ratio Rank: 38
TOLZ Sortino Ratio Rank: 38
TOLZ Omega Ratio Rank: 35
TOLZ Calmar Ratio Rank: 55
TOLZ Martin Ratio Rank: 49

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.

INRO vs. TOLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock U.S. Industry Rotation ETF (INRO) and ProShares DJ Brookfield Global Infrastructure ETF (TOLZ). 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.

	INRO	TOLZ	Difference
Sharpe ratio: Return per unit of total volatility	2.47	1.36	+1.10
Sortino ratio: Return per unit of downside risk	3.36	1.99	+1.38
Omega ratio: Gain probability vs. loss probability	1.44	1.23	+0.21
Calmar ratio: Return relative to maximum drawdown	3.38	2.71	+0.67
Martin ratio: Return relative to average drawdown	15.71	8.20	+7.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INRO vs. TOLZ - Sharpe Ratio Comparison

The current INRO Sharpe Ratio is 2.47, which is higher than the TOLZ Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of INRO and TOLZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	INRO	TOLZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	1.36	+1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.41	+0.71

Drawdowns

INRO vs. TOLZ - Drawdown Comparison

The maximum INRO drawdown since its inception was -20.02%, smaller than the maximum TOLZ drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for INRO and TOLZ.

Drawdown Indicators

	INRO	TOLZ	Difference
Max Drawdown Largest peak-to-trough decline	-20.02%	-39.33%	+19.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-5.18%	-4.18%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.33%	—
Current Drawdown Current decline from peak	-0.65%	-3.13%	+2.48%
Average Drawdown Average peak-to-trough decline	-2.61%	-6.63%	+4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.71%	+0.30%

Volatility

INRO vs. TOLZ - Volatility Comparison

Blackrock U.S. Industry Rotation ETF (INRO) has a higher volatility of 3.69% compared to ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) at 3.37%. This indicates that INRO's price experiences larger fluctuations and is considered to be riskier than TOLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INRO	TOLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	3.37%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	8.20%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	10.29%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	13.99%	+3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.10%	16.29%	+0.81%

INRO vs. TOLZ - Expense Ratio Comparison

INRO has a 0.42% expense ratio, which is lower than TOLZ's 0.46% expense ratio.

Dividends

INRO vs. TOLZ - Dividend Comparison

INRO's dividend yield for the trailing twelve months is around 0.65%, less than TOLZ's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INRO Blackrock U.S. Industry Rotation ETF	0.65%	0.68%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	3.66%	3.99%	3.53%	3.34%	3.01%	3.28%	3.16%	2.96%	3.63%	3.30%	2.62%	3.67%

Frequently Asked Questions

Can I hold both INRO and TOLZ in my portfolio?

INRO and TOLZ have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INRO or TOLZ?

INRO has higher volatility (3.69%) compared to TOLZ (3.37%). In terms of maximum drawdown, INRO dropped -20.02% vs TOLZ's -39.33%.

Which ETF is better, INRO or TOLZ?

On 1-year performance, INRO leads with 31.46% vs 13.97% for TOLZ. On fees, INRO is cheaper at 0.42% per year. On volatility, TOLZ has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INRO or TOLZ?

Over the 1-year period, INRO has performed better with a 31.46% return vs 13.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INRO or TOLZ?

INRO is cheaper with a 0.42% expense ratio, compared with 0.46% for TOLZ.

Which ETF pays a higher dividend yield, INRO or TOLZ?

TOLZ has the higher dividend yield at 3.66%, compared with 0.65% for INRO.

What is the main difference between INRO and TOLZ?

INRO is categorized as Large Cap Blend Equities, while TOLZ is Industrials Equities. They also come from different issuers: BlackRock and ProShares. Their fees differ too: 0.42% for INRO and 0.46% for TOLZ.

Which has better risk-adjusted returns?

INRO currently has the higher Sharpe Ratio (2.47 vs 1.36), 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.