IFRA vs SPY
iShares US Infrastructure ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IFRA or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. IFRA is less concentrated, with 33.0% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IFRA | SPY |
|---|---|---|
| Expense Ratio | 0.30% | 0.09%Best |
| AUM | $4.2B | $804.7B |
| Dividend Yield | 1.66% | 0.98% |
| Holdings | 168 | 505 |
| YTD Return | +6.57% | +10.96%Best |
| 1Y Return | +11.28% | +15.52%Best |
| 3Y Return (annualized) | +15.95% | +20.73%Best |
| 5Y Return (annualized) | +12.11% | +12.53%Best |
| Volatility (annualized) | 19.8% | 16.5%Best |
| Max Drawdown | -41.1% | -34.1%Best |
| $10,000 over 5 years | $17,710 | $18,044Best |
| Top 10 Weight | 33.0%Best | 37.8% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Apr 3, 2018 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 5, 2018 to Sep 16, 2026 (8.4 years).
IFRA vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.4 years both funds cover.
IFRA vs SPY Performance
iShares US Infrastructure ETF (IFRA) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IFRA returned +11.28% while SPY returned +15.52%. Year to date, IFRA is up 6.57% versus a gain of 10.96% for SPY.
Over three years, IFRA compounded at +15.95% per year against +20.73% for SPY; over five years the annualized figures are +12.11% and +12.53% respectively. Across the full 8-year window we track, SPY has the edge at +14.14% annualized vs +11.12%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IFRA has been the more volatile fund, with annualized monthly volatility of 19.8% compared with 16.5% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -41.1% for IFRA and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IFRA charges 0.30% per year while SPY charges 0.09%. On a $10,000 position that is $30 vs $9 annually, a gap of $21 per year that compounds over a long holding period. On income, IFRA currently yields 1.66% against 0.98% for SPY.
Holdings Overlap
74.1% of IFRA's money is in holdings SPY also owns. 4.0% of SPY's money is in holdings IFRA also owns.
Most of IFRA is already inside SPY. Owning both mostly buys the same companies twice.
47 positions in common, counted across the 162 positions we hold weights for in IFRA and 504 in SPY, against full books of 168 and 505.
What only one of them owns
Our book lists 450 positions for SPY that do not appear in our book for IFRA (95.3% of the fund), and 102 for IFRA that do not appear in SPY (17.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IFRA | Weight in SPY | Difference |
|---|---|---|---|
| UNPUnion Pacific Corp | 4.48% | 0.26% | 4.22% |
| NEENextera Energy Inc | 4.05% | 0.26% | 3.79% |
| CATCaterpillar, Inc. | 3.62% | 0.55% | 3.07% |
| PWRQuanta Services Inc | 3.46% | 0.14% | 3.32% |
| CSXCsx Corp. | 3.44% | 0.14% | 3.30% |
| SOSouthern Co. | 2.91% | 0.15% | 2.76% |
| NSCNorfolk Southern Corp | 2.84% | 0.11% | 2.73% |
| CEGConstellation Energy Corporation Com | 2.78% | 0.14% | 2.64% |
| DUKDuke Energy Corp | 2.75% | 0.14% | 2.61% |
| WMBWilliams Cos. Inc. | 2.68% | 0.14% | 2.54% |
74.1% of IFRA is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IFRA or SPY?
IFRA has an expense ratio of 0.30% while SPY charges 0.09%. SPY is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, IFRA or SPY?
Over the past year IFRA returned +11.28% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), IFRA annualized +11.12% vs +14.14% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IFRA or SPY?
IFRA has been the more volatile fund at 19.8% annualized versus 16.5% for SPY. Worst drawdown: IFRA -41.1% vs SPY -34.1%.
Should I hold both IFRA and SPY?
IFRA and SPY have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IFRA and SPY?
74.1% of IFRA's money is in holdings SPY also owns. 4.0% of SPY's is in holdings IFRA also owns. They hold 47 positions in common, counted across the 162 positions we hold weights for in IFRA and 504 in SPY.
Which pays a higher dividend, IFRA or SPY?
IFRA yields 1.66% while SPY yields 0.98%, so IFRA currently pays the higher dividend yield.
Is SPY better than IFRA?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. IFRA is less concentrated, with 33.0% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.