ZAP vs. NFRX

Last updated Jun 24, 2026

ZAP (Global X U.S. Electrification ETF) and NFRX (Harrison Street Infrastructure Active ETF) are both Utilities Equities funds. ZAP is passively managed, while NFRX is actively managed. A 0.69 correlation means they provide meaningful diversification when combined. ZAP charges 0.50%/yr vs 0.80%/yr for NFRX.

Performance

ZAP vs. NFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X U.S. Electrification ETF (ZAP) and Harrison Street Infrastructure Active ETF (NFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZAP

• 1D: -0.95%
• 1M: 0.58%
• YTD: 18.94%
• 6M: 18.24%
• 1Y: 32.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFRX

• 1D: 0.65%
• 1M: -0.39%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZAP vs. NFRX - Yearly Performance Comparison

	2026 (YTD)
ZAP Global X U.S. Electrification ETF	11.75%
NFRX Harrison Street Infrastructure Active ETF	7.49%

Correlation

The correlation between ZAP and NFRX 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 (All Time) Calculated using the full available price history since Jan 30, 2026	0.69

Return for Risk

ZAP vs. NFRX — Risk / Return Rank

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

ZAP

ZAP Risk / Return Rank: 68
ZAP Sharpe Ratio Rank: 68
ZAP Sortino Ratio Rank: 65
ZAP Omega Ratio Rank: 61
ZAP Calmar Ratio Rank: 85
ZAP Martin Ratio Rank: 64

NFRX

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

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.

ZAP vs. NFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Electrification ETF (ZAP) and Harrison Street Infrastructure Active ETF (NFRX). 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.

	ZAP	NFRX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	—	—
Sortino ratio: Return per unit of downside risk	2.82	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	4.46	—	—
Martin ratio: Return relative to average drawdown	10.92	—	—

Drawdowns

ZAP vs. NFRX - Drawdown Comparison

The maximum ZAP drawdown since its inception was -12.38%, which is greater than NFRX's maximum drawdown of -7.26%. Use the drawdown chart below to compare losses from any high point for ZAP and NFRX.

Drawdown Indicators

	ZAP	NFRX	Difference
Max Drawdown Largest peak-to-trough decline	-12.38%	-7.26%	-5.12%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	—	—
Current Drawdown Current decline from peak	-0.95%	-2.88%	+1.93%
Average Drawdown Average peak-to-trough decline	-2.59%	-2.69%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	—	—

Volatility

Volatility by Period

	ZAP	NFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.48%	13.87%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	13.87%	+3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	13.87%	+3.05%

ZAP vs. NFRX - Expense Ratio Comparison

ZAP has a 0.50% expense ratio, which is lower than NFRX's 0.80% expense ratio.

Dividends

ZAP vs. NFRX - Dividend Comparison

ZAP's dividend yield for the trailing twelve months is around 1.50%, more than NFRX's 0.21% yield.

Position	TTM	2025	2024
NFRX Harrison Street Infrastructure Active ETF	0.21%	0.00%	0.00%
ZAP Global X U.S. Electrification ETF	1.50%	1.81%	0.00%

Frequently Asked Questions

Can I hold both ZAP and NFRX in my portfolio?

ZAP and NFRX 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.

Which ETF is better, ZAP or NFRX?

On fees, ZAP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZAP or NFRX?

ZAP is cheaper with a 0.50% expense ratio, compared with 0.80% for NFRX.

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

ZAP has the higher dividend yield at 1.50%, compared with 0.21% for NFRX.

What is the main difference between ZAP and NFRX?

They also come from different issuers: Global X and Harrison Street. Their fees differ too: 0.50% for ZAP and 0.80% for NFRX.