RBLD vs. NFRA

Last updated Aug 4, 2026

RBLD (First Trust Alerian U.S. NextGen Infrastructure ETF) and NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) are both Infrastructure Equities funds - RBLD tracks the Alerian US NextGen Infrastructure Index - Benchmark TR Net while NFRA tracks the STOXX Global Broad Infrastructure Index. Both are passively managed. Over the past 10 years, RBLD returned 8.31%/yr vs 6.88%/yr for NFRA. Their 0.67 correlation means they have sometimes moved together and sometimes differently. RBLD charges 0.65%/yr vs 0.47%/yr for NFRA.

Performance

RBLD vs. NFRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) and FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RBLD achieves a 18.14% return, which is significantly higher than NFRA's 9.49% return. Over the past 10 years, RBLD has outperformed NFRA with an annualized return of 8.31%, while NFRA has yielded a comparatively lower 6.88% annualized return.

RBLD

• 1D: 1.14%
• 1M: -0.80%
• 6M: 11.43%
• YTD: 18.14%
• 1Y: 21.43%
• 3Y*: 19.48%
• 5Y*: 11.83%
• 10Y*: 8.31%
• ALL TIME*: 8.71%

NFRA

• 1D: 0.53%
• 1M: 1.61%
• 6M: 6.94%
• YTD: 9.49%
• 1Y: 14.30%
• 3Y*: 12.91%
• 5Y*: 6.03%
• 10Y*: 6.88%
• ALL TIME*: 6.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	$3.37M	$2.66M	$4.22M
RBLD First Trust Alerian U.S. NextGen Infrastructure ETF	$126.51K	$179.17K	$568.85K

RBLD vs. NFRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RBLD First Trust Alerian U.S. NextGen Infrastructure ETF	18.14%	13.99%	17.94%	19.36%	-9.87%	12.98%	0.51%	12.81%	-21.72%	22.95%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	9.49%	18.42%	4.76%	8.96%	-10.11%	9.61%	2.24%	26.27%	-7.74%	15.92%

Correlation

The correlation between RBLD and NFRA is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Oct 9, 2013	0.67

The correlation between RBLD and NFRA shifts across timeframes, from 0.64 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

RBLD vs. NFRA - Sectors Allocation Comparison

Sectors	RBLD	NFRA
Industrials	42.4%	33.4%
Utilities	27.9%	24.5%
Technology	10.9%	1.3%
Energy	8.3%	9.1%
Basic Materials	6.1%	-
Real Estate	4.3%	4.7%
Communication Services	1.0%	22.4%
Consumer Cyclical	-	0.3%
Consumer Defensive	-	0.1%
Financial Services	-	0.0%
Healthcare	-	4.5%

Return for Risk

RBLD vs. NFRA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RBLD

RBLD Risk / Return Rank: 65
RBLD Sharpe Ratio Rank: 60
RBLD Sortino Ratio Rank: 57
RBLD Omega Ratio Rank: 55
RBLD Calmar Ratio Rank: 79
RBLD Martin Ratio Rank: 74

NFRA

NFRA Risk / Return Rank: 53
NFRA Sharpe Ratio Rank: 56
NFRA Sortino Ratio Rank: 55
NFRA Omega Ratio Rank: 54
NFRA Calmar Ratio Rank: 53
NFRA Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RBLD vs. NFRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) and FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA). 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.

	RBLD	NFRA	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.38	+0.13
Sortino ratio: Return per unit of downside risk	2.09	2.00	+0.09
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.99	1.97	+1.02
Martin ratio: Return relative to average drawdown	9.84	5.87	+3.96

RBLD vs. NFRA - Sharpe Ratio Comparison

The current RBLD Sharpe Ratio is 1.52, which is comparable to the NFRA Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of RBLD and NFRA, 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

RBLD vs. NFRA - Drawdown Comparison

The maximum RBLD drawdown since its inception was -50.07%, which is greater than NFRA's maximum drawdown of -32.49%. Use the drawdown chart below to compare losses from any high point for RBLD and NFRA.

Drawdown Indicators

	RBLD	NFRA	Difference
Max Drawdown Largest peak-to-trough decline	-50.07%	-32.49%	-17.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.19%	-7.28%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.14%	-9.16%	-9.98%
Max Drawdown (5Y) Largest decline over 5 years	-22.54%	-22.75%	+0.21%
Max Drawdown (10Y) Largest decline over 10 years	-50.07%	-32.49%	-17.58%
Current Drawdown Current decline from peak	-3.03%	-1.65%	-1.38%
Average Drawdown Average peak-to-trough decline	-10.76%	-4.50%	-6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.44%	-0.26%

Volatility

RBLD vs. NFRA - Volatility Comparison

First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) has a higher volatility of 3.85% compared to FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) at 1.93%. This indicates that RBLD's price experiences larger fluctuations and is considered to be riskier than NFRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RBLD	NFRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	1.93%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	8.45%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	14.20%	10.40%	+3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	12.96%	+3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.51%	14.87%	+3.64%

RBLD vs. NFRA - Expense Ratio Comparison

RBLD has a 0.65% expense ratio, which is higher than NFRA's 0.47% expense ratio.

Dividends

RBLD vs. NFRA - Dividend Comparison

RBLD's dividend yield for the trailing twelve months is around 0.96%, less than NFRA's 5.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	5.65%	6.00%	3.33%	2.57%	2.28%	2.71%	2.22%	2.27%	3.06%	2.81%	2.98%	2.47%
RBLD First Trust Alerian U.S. NextGen Infrastructure ETF	0.96%	1.19%	1.31%	1.16%	2.10%	1.45%	2.88%	1.84%	1.74%	1.49%	2.01%	1.17%

Frequently Asked Questions

Can I hold both RBLD and NFRA in my portfolio?

RBLD and NFRA have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RBLD or NFRA?

RBLD has higher volatility (3.85%) compared to NFRA (1.93%). In terms of maximum drawdown, RBLD dropped -50.07% vs NFRA's -32.49%.

Which ETF is better, RBLD or NFRA?

On 10-year performance, RBLD leads with 8.31% vs 6.88% for NFRA. On fees, NFRA is cheaper at 0.47% per year. On volatility, NFRA has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RBLD or NFRA?

Over the 10-year period, RBLD has performed better with a 8.31% return vs 6.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RBLD or NFRA?

NFRA is cheaper with a 0.47% expense ratio, compared with 0.65% for RBLD.

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

NFRA has the higher dividend yield at 5.65%, compared with 0.96% for RBLD.

What is the main difference between RBLD and NFRA?

RBLD tracks Alerian US NextGen Infrastructure Index - Benchmark TR Net, while NFRA tracks STOXX Global Broad Infrastructure Index. They also come from different issuers: First Trust and FlexShares. Their fees differ too: 0.65% for RBLD and 0.47% for NFRA.

Which has better risk-adjusted returns?

RBLD currently has the higher Sharpe Ratio (1.52 vs 1.38), 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.