NFRA vs. REET
NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) and REET (iShares Global REIT ETF) are both exchange-traded funds - NFRA is a Utilities Equities fund tracking the STOXX Global Broad Infrastructure Index, while REET is a REIT fund tracking the FTSE EPRA/NAREIT Global REIT Index. Both are passively managed. Over the past 10 years, NFRA returned 7.41%/yr vs 4.50%/yr for REET. A 0.74 correlation means they provide meaningful diversification when combined. NFRA charges 0.47%/yr vs 0.14%/yr for REET.
Performance
NFRA vs. REET - Performance Comparison
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Returns By Period
In the year-to-date period, NFRA achieves a 9.54% return, which is significantly lower than REET's 12.42% return. Over the past 10 years, NFRA has outperformed REET with an annualized return of 7.41%, while REET has yielded a comparatively lower 4.50% annualized 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%
REET
- 1D
- 0.76%
- 1M
- 2.38%
- YTD
- 12.42%
- 6M
- 13.41%
- 1Y
- 16.15%
- 3Y*
- 10.34%
- 5Y*
- 2.51%
- 10Y*
- 4.50%
NFRA vs. REET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund | 9.54% | 18.42% | 4.76% | 8.96% | -10.11% | 9.61% | 2.24% | 26.27% | -7.74% | 15.92% |
REET iShares Global REIT ETF | 12.42% | 7.97% | 2.65% | 10.28% | -24.10% | 32.43% | -10.48% | 24.42% | -5.27% | 7.48% |
Correlation
The correlation between NFRA and REET is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2014 | 0.74 |
The correlation between NFRA and REET has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.
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Return for Risk
NFRA vs. REET — Risk / Return Rank
NFRA
REET
NFRA vs. REET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) and iShares Global REIT ETF (REET). 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 | REET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.67 | +0.22 |
| Martin ratioReturn relative to average drawdown | 5.96 | 6.00 | -0.04 |
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Drawdowns
NFRA vs. REET - Drawdown Comparison
The maximum NFRA drawdown since its inception was -32.49%, smaller than the maximum REET drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for NFRA and REET.
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Drawdown Indicators
| NFRA | REET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.49% | -44.59% | +12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.28% | -9.04% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -18.02% | +6.87% |
Max Drawdown (5Y)Largest decline over 5 years | -22.75% | -32.11% | +9.36% |
Max Drawdown (10Y)Largest decline over 10 years | -32.49% | -44.59% | +12.10% |
Current DrawdownCurrent decline from peak | -1.60% | 0.00% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -9.76% | +5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.52% | -0.20% |
Volatility
NFRA vs. REET - Volatility Comparison
The current volatility for FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) is 3.19%, while iShares Global REIT ETF (REET) has a volatility of 4.16%. This indicates that NFRA experiences smaller price fluctuations and is considered to be less risky than REET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFRA | REET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 4.16% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 8.35% | 9.07% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.44% | 12.31% | -1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.99% | 16.97% | -3.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.96% | 18.85% | -3.89% |
NFRA vs. REET - Expense Ratio Comparison
NFRA has a 0.47% expense ratio, which is higher than REET's 0.14% expense ratio.
Dividends
NFRA vs. REET - Dividend Comparison
NFRA's dividend yield for the trailing twelve months is around 5.51%, more than REET's 3.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
REET iShares Global REIT ETF | 3.29% | 3.67% | 3.64% | 3.27% | 2.43% | 3.18% | 2.65% | 5.25% | 5.73% | 3.84% | 5.37% | 3.56% |
Frequently Asked Questions
NFRA and REET have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REET has higher volatility (4.16%) compared to NFRA (3.19%). In terms of maximum drawdown, NFRA dropped -32.49% vs REET's -44.59%.
On 10-year performance, NFRA leads with 7.41% vs 4.50% for REET. On fees, REET is cheaper at 0.14% 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.
Over the 10-year period, NFRA has performed better with a 7.41% return vs 4.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REET is cheaper with a 0.14% expense ratio, compared with 0.47% for NFRA.
NFRA has the higher dividend yield at 5.51%, compared with 3.29% for REET.
NFRA is categorized as Utilities Equities, while REET is REIT. NFRA tracks STOXX Global Broad Infrastructure Index, while REET tracks FTSE EPRA/NAREIT Global REIT Index. They also come from different issuers: FlexShares and iShares. Their fees differ too: 0.47% for NFRA and 0.14% for REET.
NFRA currently has the higher Sharpe Ratio (1.32 vs 1.23), 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.
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