IFRA vs PHO: Holdings Overlap
IFRAiShares U.S. Infrastructure ETF
iShares · 162 holdings · $4.6B · as of 2026-03-31
PHOInvesco Water Resources ETF
Invesco · 36 holdings · $2.1B · as of 2026-04-30
Holdings snapshots are 30 days apart (IFRA: 2026-03-31, PHO: 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 IFRA and PHO?
iShares U.S. Infrastructure ETF (IFRA, by iShares) holds 162 positions; Invesco Water Resources ETF (PHO, by Invesco) holds 36. They have 15 holdings in common, and by portfolio weight the two funds are 3.9% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 15IFRA holds 162 · PHO holds 36
- Weight in Shared Holdings
- IFRA 4%·PHO 32%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 IFRA
147 of 162 positions (96.0% of the fund) are not held by PHO. Showing the top 30 by weight.
Sector Breakdown
| Sector | IFRA | PHO |
|---|---|---|
| Industrials | 35.2% | 55.4% |
| Utilities | 41.4% | 12.8% |
| Materials | 13.6% | 8.1% |
| Information Technology | 0.0% | 13.0% |
| Energy | 8.5% | 0.0% |
| Other Sectors | 0.3% | 8.2% |
| Unclassified | 0.9% | 2.5% |
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 (1% of IFRA, 2% of PHO).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IFRA | -1.1% | +17.1% | +22.3% | +17.8% | +13.3% | — | 1.59% |
| PHO | +5.7% | +4.5% | +3.2% | +8.8% | +5.6% | +12.2% | 0.55% |
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 IFRA vs PHO →
Shared Holdings(15)
The top 10 shared positions account for 95% of the overlap, led by AWK, MLI and ACM.
 AWKAmerican Water Works Company, Inc. COM | 0.72% | 6.95% | 0.72% |
|---|---|---|---|
 MLIMueller Industries Inc. COM | 0.51% | 4.37% | 0.51% |
 ACMAECOM | 0.46% | 3.63% | 0.46% |
 WMSAdvanced Drainage System Inc COM | 0.42% | 3.25% | 0.42% |
 STNStantec, Inc. | 0.41% | 1.16% | 0.41% |
 TTEKTetra Tech Inc COM | 0.33% | 3.21% | 0.33% |
 VMIValmont Industries, Inc. COM | 0.32% | 2.58% | 0.32% |
 WTRGEssential Utilities Inc COM | 0.31% | 3.35% | 0.31% |
 HWKNHawkins Inc COM | 0.12% | 0.98% | 0.12% |
 AWRAmerican States Water Co. COM | 0.08% | 0.70% | 0.08% |
 CWTCalifornia Water Service Group COM | 0.07% | 0.63% | 0.07% |
 HTOH2O America COM | 0.06% | 0.74% | 0.06% |
 NWPXNWPX Infrastructure Inc. COM | 0.03% | 0.25% | 0.03% |
 MSEXMiddlesex Water Co. COM | 0.02% | 0.23% | 0.02% |
 YORWThe York Water Co. COM | 0.01% | 0.08% | 0.01% |
Frequently Asked Questions
How much do IFRA and PHO overlap?
IFRA and PHO overlap by 3.9% of portfolio weight. They share 15 holdings (IFRA holds 162 positions and PHO holds 36), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IFRA and PHO?
The two portfolios are 3.9% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of IFRA and PHO?
The largest positions held by both funds are AWK, MLI, ACM, WMS and STN. Together the top 10 shared positions account for 95% of the total overlap.
What does IFRA own that PHO doesn't?
147 positions (96.0% of IFRA) are unique to IFRA, led by CAT, NEE and UNP. In the other direction, 21 positions (67.9% of PHO) are unique to PHO.