NFRA vs. GLIX

Last updated Jun 24, 2026

NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) and GLIX (Lazard Listed Infrastructure ETF) are both Utilities Equities funds. NFRA is passively managed, while GLIX is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. NFRA charges 0.47%/yr vs 0.96%/yr for GLIX.

Performance

NFRA vs. GLIX - Performance Comparison

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

Returns By Period

In the year-to-date period, NFRA achieves a 7.66% return, which is significantly lower than GLIX's 11.86% return.

NFRA

• 1D: 0.02%
• 1M: -2.01%
• YTD: 7.66%
• 6M: 7.77%
• 1Y: 12.35%
• 3Y*: 12.39%
• 5Y*: 5.69%
• 10Y*: 7.32%

GLIX

• 1D: 0.57%
• 1M: 1.47%
• YTD: 11.86%
• 6M: 12.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFRA vs. GLIX - Yearly Performance Comparison

	2026 (YTD)	2025
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	7.66%	-0.42%
GLIX Lazard Listed Infrastructure ETF	11.86%	0.49%

Correlation

The correlation between NFRA and GLIX 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 (All Time) Calculated using the full available price history since Oct 6, 2025	0.65

Return for Risk

NFRA vs. GLIX — Risk / Return Rank

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

NFRA

NFRA Risk / Return Rank: 35
NFRA Sharpe Ratio Rank: 35
NFRA Sortino Ratio Rank: 34
NFRA Omega Ratio Rank: 33
NFRA Calmar Ratio Rank: 35
NFRA Martin Ratio Rank: 36

GLIX

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

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. GLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) and Lazard Listed Infrastructure ETF (GLIX). 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	GLIX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	—	—
Sortino ratio: Return per unit of downside risk	1.71	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.70	—	—
Martin ratio: Return relative to average drawdown	5.27	—	—

Drawdowns

NFRA vs. GLIX - Drawdown Comparison

The maximum NFRA drawdown since its inception was -32.49%, which is greater than GLIX's maximum drawdown of -7.82%. Use the drawdown chart below to compare losses from any high point for NFRA and GLIX.

Drawdown Indicators

	NFRA	GLIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.49%	-7.82%	-24.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.49%	—	—
Current Drawdown Current decline from peak	-3.28%	-1.55%	-1.73%
Average Drawdown Average peak-to-trough decline	-4.52%	-2.05%	-2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	—	—

Volatility

Volatility by Period

	NFRA	GLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	11.88%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	11.88%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.89%	11.88%	+3.01%

NFRA vs. GLIX - Expense Ratio Comparison

NFRA has a 0.47% expense ratio, which is lower than GLIX's 0.96% expense ratio.

Dividends

NFRA vs. GLIX - Dividend Comparison

NFRA's dividend yield for the trailing twelve months is around 5.75%, more than GLIX's 2.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLIX Lazard Listed Infrastructure ETF	2.03%	1.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	5.75%	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 GLIX in my portfolio?

NFRA and GLIX 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 ETF is better, NFRA or GLIX?

On fees, NFRA is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NFRA or GLIX?

NFRA is cheaper with a 0.47% expense ratio, compared with 0.96% for GLIX.

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

NFRA has the higher dividend yield at 5.75%, compared with 2.03% for GLIX.

What is the main difference between NFRA and GLIX?

They also come from different issuers: FlexShares and Lazard. Their fees differ too: 0.47% for NFRA and 0.96% for GLIX.