IEFA vs NFRA: Holdings Overlap
IEFAiShares Core MSCI EAFE ETF
iShares · 2632 holdings · $193.5B · as of 2026-04-30
NFRAFlexShares STOXX Global Broad Infrastructure Index Fund
FlexShares · 185 holdings · $3.0B · as of 2026-04-30
How similar are IEFA and NFRA?
iShares Core MSCI EAFE ETF (IEFA, by iShares) holds 2632 positions; FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185. They have 60 holdings in common, and by portfolio weight the two funds are 5.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 5.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 60IEFA holds 2632 · NFRA holds 185
- Weight in Shared Holdings
- IEFA 5%·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 IEFA
2572 of 2632 positions (94.0% of the fund) are not held by NFRA. Showing the top 30 by weight.
Sector Breakdown
| Sector | IEFA | NFRA |
|---|---|---|
| Industrials | 16.0% | 25.7% |
| Utilities | 3.3% | 24.9% |
| Communication Services | 3.6% | 23.2% |
| Financials | 20.5% | 0.0% |
| Energy | 3.4% | 8.5% |
| Other Sectors | 35.6% | 8.8% |
| Unclassified | 17.0% | 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 (17% of IEFA, 8% of NFRA).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IEFA | +4.2% | +14.8% | +24.5% | +17.9% | +9.3% | +9.8% | 3.25% |
| 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 IEFA vs NFRA →
Shared Holdings(60)
The top 10 shared positions account for 62% of the overlap, led by IBE, 9984 and DTE.
 IBEIberdrola SA | 0.59% | 2.23% | 0.59% |
|---|---|---|---|
 9984SoftBank Group Corp. | 0.50% | 3.76% | 0.50% |
 DTEDeutsche Telekom AG (Registered) | 0.47% | 3.22% | 0.47% |
 ENELEnel SpA | 0.37% | 1.39% | 0.37% |
 NG-National Grid PLC | 0.35% | 1.43% | 0.35% |
 ENGIEngie SA | 0.24% | 0.95% | 0.24% |
 DHLDeutsche Post AG | 0.21% | 2.62% | 0.21% |
 9433KDDI Corp. | 0.20% | 1.35% | 0.20% |
 EOANE ON SE | 0.20% | 0.77% | 0.20% |
 RWERWE AG | 0.18% | 0.75% | 0.18% |
 SSESSE plc | 0.17% | 0.66% | 0.17% |
 TCLTransurban Group | 0.12% | 1.47% | 0.12% |
 NBISNebius Group N.V., Class A | 0.12% | 0.40% | 0.12% |
 9432NTT Inc. NPV | 0.11% | 1.43% | 0.11% |
 VIEVeolia Environnement SA | 0.11% | 1.32% | 0.11% |
 SCMNSwisscom AG (Registered) | 0.09% | 0.61% | 0.09% |
 9020East Japan Railway Co. | 0.08% | 1.15% | 0.08% |
 KPNKoninklijke KPN NV | 0.08% | 0.59% | 0.08% |
 FREFresenius SE & Co. KGaA | 0.08% | 0.93% | 0.08% |
 AENAAena SME SA | 0.08% | 0.94% | 0.08% |
 STOSantos Ltd. | 0.07% | 0.29% | 0.07% |
 9022Central Japan Railway Co. | 0.07% | 1.08% | 0.07% |
 BT-ABT Group PLC | 0.07% | 0.53% | 0.07% |
 CLNXCellnex Telecom SA | 0.06% | 0.46% | 0.06% |
 SRGSnam SpA | 0.06% | 0.26% | 0.06% |
Frequently Asked Questions
How much do IEFA and NFRA overlap?
IEFA and NFRA overlap by 5.3% of portfolio weight. They share 60 holdings (IEFA holds 2632 positions and NFRA holds 185), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IEFA and NFRA?
The two portfolios are 5.3% 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 IEFA and NFRA?
The largest positions held by both funds are IBE, 9984, DTE, ENEL and NG-. Together the top 10 shared positions account for 62% of the total overlap.
What does IEFA own that NFRA doesn't?
2572 positions (94.0% of IEFA) are unique to IEFA, led by ASML, HSBA and AZN. In the other direction, 125 positions (62.4% of NFRA) are unique to NFRA.