NFRX vs. XLU

Last updated Jun 5, 2026

NFRX (Harrison Street Infrastructure Active ETF) and XLU (State Street Utilities Select Sector SPDR ETF) are both Utilities Equities funds. NFRX is actively managed, while XLU is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. NFRX charges 0.80%/yr vs 0.08%/yr for XLU.

Performance

NFRX vs. XLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harrison Street Infrastructure Active ETF (NFRX) and State Street Utilities Select Sector SPDR ETF (XLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NFRX

• 1D: 0.68%
• 1M: -2.39%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLU

• 1D: 0.53%
• 1M: -5.24%
• YTD: 3.65%
• 6M: 1.99%
• 1Y: 11.64%
• 3Y*: 13.76%
• 5Y*: 9.36%
• 10Y*: 9.22%

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

NFRX vs. XLU - Yearly Performance Comparison

	2026 (YTD)
NFRX Harrison Street Infrastructure Active ETF	5.68%
XLU State Street Utilities Select Sector SPDR ETF	2.31%

Correlation

The correlation between NFRX and XLU is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 2, 2026	0.80

Return for Risk

NFRX vs. XLU — Risk / Return Rank

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

XLU

XLU Risk / Return Rank: 24
XLU Sharpe Ratio Rank: 24
XLU Sortino Ratio Rank: 23
XLU Omega Ratio Rank: 23
XLU Calmar Ratio Rank: 27
XLU Martin Ratio Rank: 23

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.

NFRX vs. XLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harrison Street Infrastructure Active ETF (NFRX) and State Street Utilities Select Sector SPDR ETF (XLU). 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.

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

Sharpe Ratios by Period

	NFRX	XLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.81	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	0.40	+0.84

Drawdowns

NFRX vs. XLU - Drawdown Comparison

The maximum NFRX drawdown since its inception was -7.26%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for NFRX and XLU.

Drawdown Indicators

	NFRX	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-7.26%	-51.98%	+44.72%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.07%	—
Current Drawdown Current decline from peak	-4.08%	-7.30%	+3.22%
Average Drawdown Average peak-to-trough decline	-2.62%	-10.22%	+7.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.11%	—

Volatility

Volatility by Period

	NFRX	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.31%	14.57%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	17.32%	-3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.31%	19.25%	-4.94%

NFRX vs. XLU - Expense Ratio Comparison

NFRX has a 0.80% expense ratio, which is higher than XLU's 0.08% expense ratio.

Dividends

NFRX vs. XLU - Dividend Comparison

NFRX's dividend yield for the trailing twelve months is around 0.22%, less than XLU's 2.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NFRX Harrison Street Infrastructure Active ETF	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLU State Street Utilities Select Sector SPDR ETF	2.71%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Frequently Asked Questions

Can I hold both NFRX and XLU in my portfolio?

NFRX and XLU have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NFRX or XLU?

On fees, XLU is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NFRX or XLU?

XLU is cheaper with a 0.08% expense ratio, compared with 0.80% for NFRX.

Which ETF pays a higher dividend yield, NFRX or XLU?

XLU has the higher dividend yield at 2.71%, compared with 0.22% for NFRX.

What is the main difference between NFRX and XLU?

They also come from different issuers: Harrison Street and State Street. Their fees differ too: 0.80% for NFRX and 0.08% for XLU.