REET vs. NFRA
REET (iShares Global REIT ETF) and NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) are both exchange-traded funds - REET is a REIT fund tracking the FTSE EPRA/NAREIT Global REIT Index, while NFRA is a Utilities Equities fund tracking the STOXX Global Broad Infrastructure Index. Both are passively managed. Over the past 10 years, REET returned 4.50%/yr vs 7.41%/yr for NFRA. A 0.74 correlation means they provide meaningful diversification when combined. REET charges 0.14%/yr vs 0.47%/yr for NFRA.
Performance
REET vs. NFRA - Performance Comparison
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Returns By Period
In the year-to-date period, REET achieves a 12.42% return, which is significantly higher than NFRA's 9.54% return. Over the past 10 years, REET has underperformed NFRA with an annualized return of 4.50%, while NFRA has yielded a comparatively higher 7.41% annualized return.
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
- 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 vs. NFRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between REET and NFRA 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 REET and NFRA has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.
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Return for Risk
REET vs. NFRA — Risk / Return Rank
REET
NFRA
REET vs. NFRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global REIT ETF (REET) 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.
| REET | NFRA | 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 | 1.22 | 1.24 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.89 | -0.22 |
| Martin ratioReturn relative to average drawdown | 6.00 | 5.96 | +0.04 |
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Drawdowns
REET vs. NFRA - Drawdown Comparison
The maximum REET drawdown since its inception was -44.59%, which is greater than NFRA's maximum drawdown of -32.49%. Use the drawdown chart below to compare losses from any high point for REET and NFRA.
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Drawdown Indicators
| REET | NFRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -32.49% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -7.28% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -18.02% | -11.15% | -6.87% |
Max Drawdown (5Y)Largest decline over 5 years | -32.11% | -22.75% | -9.36% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | -32.49% | -12.10% |
Current DrawdownCurrent decline from peak | 0.00% | -1.60% | +1.60% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -4.52% | -5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 2.32% | +0.20% |
Volatility
REET vs. NFRA - Volatility Comparison
iShares Global REIT ETF (REET) has a higher volatility of 4.16% compared to FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) at 3.19%. This indicates that REET'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.
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Volatility by Period
| REET | NFRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 3.19% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 9.07% | 8.35% | +0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.31% | 10.44% | +1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 12.99% | +3.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.85% | 14.96% | +3.89% |
REET vs. NFRA - Expense Ratio Comparison
REET has a 0.14% expense ratio, which is lower than NFRA's 0.47% expense ratio.
Dividends
REET vs. NFRA - Dividend Comparison
REET's dividend yield for the trailing twelve months is around 3.29%, less than NFRA's 5.51% 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
REET and NFRA 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, REET dropped -44.59% vs NFRA's -32.49%.
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.
REET is categorized as REIT, while NFRA is Utilities Equities. REET tracks FTSE EPRA/NAREIT Global REIT Index, while NFRA tracks STOXX Global Broad Infrastructure Index. They also come from different issuers: iShares and FlexShares. Their fees differ too: 0.14% for REET and 0.47% for NFRA.
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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