NFRA vs. AVDV

Last updated Jun 14, 2026

NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - NFRA is a Utilities Equities fund tracking the STOXX Global Broad Infrastructure Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. NFRA is passively managed, while AVDV is actively managed. Over the past 5 years, NFRA returned 5.59%/yr vs 13.63%/yr for AVDV. A 0.77 correlation means they provide meaningful diversification when combined. NFRA charges 0.47%/yr vs 0.36%/yr for AVDV.

Performance

NFRA vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFRA achieves a 9.54% return, which is significantly lower than AVDV's 14.99% return.

NFRA

• 1D: 0.72%
• 1M: 0.76%
• YTD: 9.54%
• 6M: 10.58%
• 1Y: 14.51%
• 3Y*: 12.83%
• 5Y*: 5.59%
• 10Y*: 7.41%

AVDV

• 1D: 0.89%
• 1M: -1.99%
• YTD: 14.99%
• 6M: 17.18%
• 1Y: 41.91%
• 3Y*: 26.72%
• 5Y*: 13.63%
• 10Y*: —

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

NFRA vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	9.54%	18.42%	4.76%	8.96%	-10.11%	9.61%	2.24%	4.82%
AVDV Avantis International Small Cap Value ETF	14.99%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%

Correlation

The correlation between NFRA and AVDV is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.77

The correlation between NFRA and AVDV shifts across timeframes, from 0.65 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

NFRA vs. AVDV - Sectors Allocation Comparison

Sectors	NFRA	AVDV
Industrials	27.7%	22.8%
Utilities	24.6%	1.7%
Communication Services	21.1%	2.4%
Energy	11.7%	9.6%
Real Estate	4.8%	1.3%
Healthcare	4.1%	2.3%
Technology	1.7%	6.6%
Financial Services	0.7%	13.6%
Consumer Cyclical	0.2%	15.4%
Consumer Defensive	0.1%	3.4%
Basic Materials	-	21.0%

Return for Risk

NFRA vs. AVDV — Risk / Return Rank

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

NFRA

NFRA Risk / Return Rank: 42
NFRA Sharpe Ratio Rank: 42
NFRA Sortino Ratio Rank: 42
NFRA Omega Ratio Rank: 41
NFRA Calmar Ratio Rank: 43
NFRA Martin Ratio Rank: 42

AVDV

AVDV Risk / Return Rank: 81
AVDV Sharpe Ratio Rank: 88
AVDV Sortino Ratio Rank: 86
AVDV Omega Ratio Rank: 86
AVDV Calmar Ratio Rank: 71
AVDV Martin Ratio Rank: 76

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.

NFRA vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) and Avantis International Small Cap Value ETF (AVDV). 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.

	NFRA	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	1.32	2.53	-1.21
Sortino ratio: Return per unit of downside risk	1.91	3.36	-1.45
Omega ratio: Gain probability vs. loss probability	1.24	1.46	-0.22
Calmar ratio: Return relative to maximum drawdown	1.89	3.12	-1.23
Martin ratio: Return relative to average drawdown	5.96	12.44	-6.49

NFRA vs. AVDV - Sharpe Ratio Comparison

The current NFRA Sharpe Ratio is 1.32, which is lower than the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of NFRA and AVDV, 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

NFRA vs. AVDV - Drawdown Comparison

The maximum NFRA drawdown since its inception was -32.49%, smaller than the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for NFRA and AVDV.

Drawdown Indicators

	NFRA	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-32.49%	-43.01%	+10.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-13.19%	+5.91%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-14.17%	+3.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.75%	-28.08%	+5.33%
Max Drawdown (10Y) Largest decline over 10 years	-32.49%	—	—
Current Drawdown Current decline from peak	-1.60%	-2.24%	+0.64%
Average Drawdown Average peak-to-trough decline	-4.52%	-6.76%	+2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	3.30%	-0.98%

Volatility

NFRA vs. AVDV - Volatility Comparison

The current volatility for FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) is 3.19%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.26%. This indicates that NFRA experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFRA	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	6.26%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	13.88%	-5.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.44%	16.25%	-5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.99%	17.41%	-4.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.96%	19.77%	-4.81%

NFRA vs. AVDV - Expense Ratio Comparison

NFRA has a 0.47% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

NFRA vs. AVDV - Dividend Comparison

NFRA's dividend yield for the trailing twelve months is around 5.51%, more than AVDV's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDV Avantis International Small Cap Value ETF	4.11%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%	0.00%	0.00%	0.00%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	5.51%	6.00%	3.33%	2.57%	2.28%	2.71%	2.22%	2.27%	3.06%	2.81%	2.98%	2.47%

Frequently Asked Questions

Can I hold both NFRA and AVDV in my portfolio?

NFRA and AVDV have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFRA or AVDV?

AVDV has higher volatility (6.26%) compared to NFRA (3.19%). In terms of maximum drawdown, NFRA dropped -32.49% vs AVDV's -43.01%.

Which ETF is better, NFRA or AVDV?

On 5-year performance, AVDV leads with 13.63% vs 5.59% for NFRA. On fees, AVDV is cheaper at 0.36% per year. On volatility, NFRA has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFRA or AVDV?

Over the 5-year period, AVDV has performed better with a 13.63% return vs 5.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFRA or AVDV?

AVDV is cheaper with a 0.36% expense ratio, compared with 0.47% for NFRA.

Which ETF pays a higher dividend yield, NFRA or AVDV?

NFRA has the higher dividend yield at 5.51%, compared with 4.11% for AVDV.

What is the main difference between NFRA and AVDV?

NFRA is categorized as Utilities Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: FlexShares and Avantis. Their fees differ too: 0.47% for NFRA and 0.36% for AVDV.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.53 vs 1.32), 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.