ACWV vs NFRA: Holdings Overlap
ACWViShares MSCI Global Min Vol Factor ETF
iShares · 412 holdings · $3.4B · as of 2026-05-31
NFRAFlexShares STOXX Global Broad Infrastructure Index Fund
FlexShares · 185 holdings · $3.0B · as of 2026-04-30
Holdings snapshots are 31 days apart (ACWV: 2026-05-31, NFRA: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are ACWV and NFRA?
iShares MSCI Global Min Vol Factor ETF (ACWV, by iShares) holds 412 positions; FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185. They have 41 holdings in common, and by portfolio weight the two funds are 13.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 13.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 41ACWV holds 412 · NFRA holds 185
- Weight in Shared Holdings
- ACWV 14%·NFRA 37%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in ACWV
371 of 412 positions (85.2% of the fund) are not held by NFRA. Showing the top 30 by weight.
Sector Breakdown
| Sector | ACWV | NFRA |
|---|---|---|
| Industrials | 6.8% | 25.7% |
| Utilities | 7.3% | 24.9% |
| Information Technology | 24.2% | 0.9% |
| Communication Services | 11.5% | 23.2% |
| Financials | 12.9% | 0.0% |
| Other Sectors | 31.4% | 16.4% |
| Unclassified | 5.1% | 8.4% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (5% of ACWV, 8% of NFRA).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| ACWV | +3.3% | +7.6% | +9.5% | +11.3% | +6.1% | +7.4% | 1.87% |
| NFRA | +1.4% | +10.0% | +12.8% | +12.9% | +6.1% | +6.9% | 5.63% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in ACWV vs NFRA →
Shared Holdings(41)
The top 10 shared positions account for 62% of the overlap, led by DUK, SO and 9433.
 DUKDuke Energy Corp COM NEW | 1.22% | 1.33% | 1.22% |
|---|---|---|---|
 SOSouthern Co. (The) | 1.08% | 1.40% | 1.08% |
 9433KDDI Corp NPV | 1.01% | 1.35% | 1.01% |
 WMWaste Management, Inc. COM | 0.97% | 1.15% | 0.97% |
 TAT&T Inc COM | 0.86% | 2.40% | 0.86% |
 VZVerizon Communications Inc. COM | 0.84% | 2.67% | 0.84% |
 TMUST-Mobile US Inc COM | 0.78% | 1.34% | 0.78% |
 9432NTT Inc. NPV | 0.60% | 1.43% | 0.60% |
 RSGRepublic Services, Inc., Class A | 0.92% | 0.55% | 0.55% |
 DTEDeutsche Telekom AG (Registered) | 0.53% | 3.22% | 0.53% |
 BHARTIBharti Airtel Ltd. INR5 | 0.52% | 1.60% | 0.52% |
 SCMNSwisscom AG (Registered) | 0.47% | 0.61% | 0.47% |
 9020East Japan Railway Co. NPV | 0.43% | 1.15% | 0.43% |
 KPNKoninklijke KPN N.V. EUR0.04 | 0.42% | 0.59% | 0.42% |
 9022Central Japan Railway Co. NPV | 0.36% | 1.08% | 0.36% |
 AWKAmerican Water Works Company, Inc. COM | 0.31% | 0.33% | 0.31% |
 WCNWaste Connections, Inc. | 0.31% | 1.96% | 0.31% |
 AENAAena SME S.A. EUR10 | 0.28% | 0.94% | 0.28% |
 LNGCheniere Energy Inc COM NEW | 0.20% | 0.77% | 0.20% |
 AEPAmerican Electric Power Co, Inc. COM | 0.16% | 0.98% | 0.16% |
 9021West Japan Railway Co. NPV | 0.14% | 0.38% | 0.14% |
 HCAHCA Healthcare Inc COM | 0.14% | 0.88% | 0.14% |
 GETGetlink SE | 0.14% | 0.32% | 0.14% |
 66MTR Corp Ltd. NPV | 0.13% | 0.32% | 0.13% |
 6823HKT Trust & HKT Ltd. | 0.12% | 0.17% | 0.12% |
Frequently Asked Questions
How much do ACWV and NFRA overlap?
ACWV and NFRA overlap by 13.7% of portfolio weight. They share 41 holdings (ACWV holds 412 positions and NFRA holds 185), based on each fund's latest SEC-reported holdings.
Is it redundant to own both ACWV and NFRA?
The two portfolios are 13.7% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of ACWV and NFRA?
The largest positions held by both funds are DUK, SO, 9433, WM and T. Together the top 10 shared positions account for 62% of the total overlap.
What does ACWV own that NFRA doesn't?
371 positions (85.2% of ACWV) are unique to ACWV, led by CSCO, JNJ and TSMWF. In the other direction, 144 positions (62.4% of NFRA) are unique to NFRA.