NFRA vs. SWPPX

Last updated Jun 3, 2026

NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) and SWPPX (Schwab S&P 500 Index Fund) are both funds - NFRA is a Utilities Equities fund tracking the STOXX Global Broad Infrastructure Index, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, NFRA returned 7.29%/yr vs 15.62%/yr for SWPPX. A 0.74 correlation means they provide meaningful diversification when combined. NFRA charges 0.47%/yr vs 0.02%/yr for SWPPX.

Performance

NFRA vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFRA achieves a 10.12% return, which is significantly lower than SWPPX's 11.52% return. Over the past 10 years, NFRA has underperformed SWPPX with an annualized return of 7.29%, while SWPPX has yielded a comparatively higher 15.62% annualized return.

NFRA

• 1D: 0.70%
• 1M: 0.57%
• YTD: 10.12%
• 6M: 11.43%
• 1Y: 14.50%
• 3Y*: 13.32%
• 5Y*: 5.92%
• 10Y*: 7.29%

SWPPX

• 1D: 0.26%
• 1M: 5.22%
• YTD: 11.52%
• 6M: 11.92%
• 1Y: 29.52%
• 3Y*: 22.67%
• 5Y*: 14.15%
• 10Y*: 15.62%

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

NFRA vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	10.12%	18.42%	4.76%	8.96%	-10.11%	9.61%	2.24%	26.27%	-7.74%	15.92%
SWPPX Schwab S&P 500 Index Fund	11.52%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between NFRA and SWPPX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013	0.74

Over the past year, the correlation between NFRA and SWPPX has dropped to 0.50 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

NFRA vs. SWPPX - Sectors Allocation Comparison

Sectors	NFRA	SWPPX
Industrials	25.9%	8.3%
Utilities	25.0%	2.4%
Communication Services	21.8%	11.2%
Energy	11.6%	3.5%
Real Estate	4.7%	1.9%
Healthcare	3.6%	8.5%
Technology	1.8%	35.6%
Financial Services	0.7%	11.8%
Consumer Cyclical	0.2%	10.1%
Consumer Defensive	0.1%	4.9%
Basic Materials	-	1.8%

Return for Risk

NFRA vs. SWPPX — Risk / Return Rank

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

NFRA

NFRA Risk / Return Rank: 40
NFRA Sharpe Ratio Rank: 39
NFRA Sortino Ratio Rank: 40
NFRA Omega Ratio Rank: 38
NFRA Calmar Ratio Rank: 41
NFRA Martin Ratio Rank: 42

SWPPX

SWPPX Risk / Return Rank: 74
SWPPX Sharpe Ratio Rank: 77
SWPPX Sortino Ratio Rank: 68
SWPPX Omega Ratio Rank: 68
SWPPX Calmar Ratio Rank: 74
SWPPX Martin Ratio Rank: 84

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. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) and Schwab S&P 500 Index Fund (SWPPX). 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.

	NFRA	SWPPX	Difference
Sharpe ratio Return per unit of total volatility	1.41	2.54	-1.13
Sortino ratio Return per unit of downside risk	2.03	3.44	-1.41
Omega ratio Gain probability vs. loss probability	1.25	1.46	-0.21
Calmar ratio Return relative to maximum drawdown	2.09	3.38	-1.30
Martin ratio Return relative to average drawdown	6.71	15.82	-9.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFRA vs. SWPPX - Sharpe Ratio Comparison

The current NFRA Sharpe Ratio is 1.41, which is lower than the SWPPX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of NFRA and SWPPX, 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

	NFRA	SWPPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	2.54	-1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.84	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.86	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.51	-0.02

Drawdowns

NFRA vs. SWPPX - Drawdown Comparison

The maximum NFRA drawdown since its inception was -32.49%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for NFRA and SWPPX.

Drawdown Indicators

	NFRA	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-32.49%	-55.06%	+22.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-8.89%	+1.61%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-18.74%	+7.59%
Max Drawdown (5Y) Largest decline over 5 years	-22.75%	-24.51%	+1.76%
Max Drawdown (10Y) Largest decline over 10 years	-32.49%	-33.80%	+1.31%
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-4.53%	-9.95%	+5.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	1.90%	+0.37%

Volatility

NFRA vs. SWPPX - Volatility Comparison

FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) has a higher volatility of 3.26% compared to Schwab S&P 500 Index Fund (SWPPX) at 2.83%. This indicates that NFRA's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFRA	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	2.83%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	8.27%	8.99%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	10.32%	11.90%	-1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	16.93%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.97%	18.23%	-3.26%

NFRA vs. SWPPX - Expense Ratio Comparison

NFRA has a 0.47% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

NFRA vs. SWPPX - Dividend Comparison

NFRA's dividend yield for the trailing twelve months is around 5.48%, more than SWPPX's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	5.48%	6.00%	3.33%	2.57%	2.28%	2.71%	2.22%	2.27%	3.06%	2.81%	2.98%	2.47%
SWPPX Schwab S&P 500 Index Fund	0.99%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both NFRA and SWPPX in my portfolio?

NFRA and SWPPX have a correlation of 0.50, 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 SWPPX?

NFRA has higher volatility (3.26%) compared to SWPPX (2.83%). In terms of maximum drawdown, NFRA dropped -32.49% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.54 vs 1.41), 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.