IPAC vs NFRA: Holdings Overlap
IPACiShares Core MSCI Pacific ETF
iShares · 1375 holdings · $2.7B · 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 IPAC and NFRA?
iShares Core MSCI Pacific ETF (IPAC, by iShares) holds 1375 positions; FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185. They have 29 holdings in common, and by portfolio weight the two funds are 4.2% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 29IPAC holds 1375 · NFRA holds 185
- Weight in Shared Holdings
- IPAC 4%·NFRA 14%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 IPAC
1346 of 1375 positions (95.1% of the fund) are not held by NFRA. Showing the top 30 by weight.
Only in NFRA
156 of 185 positions (85.1% of the fund) are not held by IPAC. Showing the top 30 by weight.
Sector Breakdown
| Sector | IPAC | NFRA |
|---|---|---|
| Industrials | 15.3% | 25.7% |
| Utilities | 1.3% | 24.9% |
| Communication Services | 4.5% | 23.2% |
| Financials | 20.1% | 0.0% |
| Information Technology | 9.0% | 0.9% |
| Other Sectors | 26.9% | 16.4% |
| Unclassified | 22.2% | 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 (22% of IPAC, 8% of NFRA).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IPAC | +4.8% | +18.9% | +27.2% | +18.2% | +9.0% | +9.1% | 3.71% |
| 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 IPAC vs NFRA →
Shared Holdings(29)
The top 10 shared positions account for 83% of the overlap, led by 9984, 9433 and TCL.
 9984SoftBank Group Corp. | 1.38% | 3.76% | 1.38% |
|---|---|---|---|
 9433KDDI Corp. | 0.53% | 1.35% | 0.53% |
 TCLTransurban Group | 0.34% | 1.47% | 0.34% |
 9432NTT Inc. NPV | 0.32% | 1.43% | 0.32% |
 9020East Japan Railway Co. | 0.23% | 1.15% | 0.23% |
 9022Central Japan Railway Co. | 0.20% | 1.08% | 0.20% |
 STOSantos Ltd. | 0.20% | 0.29% | 0.20% |
 APAAPA Group | 0.11% | 0.14% | 0.11% |
 AIAAuckland International Airport Ltd. | 0.09% | 0.39% | 0.09% |
 NXTNEXTDC Ltd. | 0.09% | 0.18% | 0.09% |
 9021West Japan Railway Co. | 0.08% | 0.38% | 0.08% |
 66MTR Corp. Ltd. | 0.07% | 0.32% | 0.07% |
 6823HKT Trust & HKT Ltd. | 0.07% | 0.17% | 0.07% |
 QUBQube Holdings Ltd. | 0.07% | 0.30% | 0.07% |
 RHCRamsay Health Care Ltd. | 0.06% | 0.25% | 0.06% |
 AZJAurizon Holdings Ltd. | 0.06% | 0.23% | 0.06% |
 KDCREITKeppel DC REIT | 0.04% | 0.11% | 0.04% |
 CWYCleanaway Waste Management Ltd. | 0.04% | 0.16% | 0.04% |
 ALXAtlas Arteria Ltd. | 0.04% | 0.16% | 0.04% |
 9007Odakyu Electric Railway Co. Ltd. | 0.04% | 0.15% | 0.04% |
 9142Kyushu Railway Co. | 0.03% | 0.17% | 0.03% |
 9001Tobu Railway Co. Ltd. | 0.03% | 0.16% | 0.03% |
 9009Keisei Electric Railway Co. Ltd. | 0.03% | 0.16% | 0.03% |
 9364Kamigumi Co. Ltd. | 0.03% | 0.14% | 0.03% |
| Daiei Kankyo Co. Ltd. | 0.01% | 0.05% | 0.01% |
Frequently Asked Questions
How much do IPAC and NFRA overlap?
IPAC and NFRA overlap by 4.2% of portfolio weight. They share 29 holdings (IPAC holds 1375 positions and NFRA holds 185), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IPAC and NFRA?
The two portfolios are 4.2% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of IPAC and NFRA?
The largest positions held by both funds are 9984, 9433, TCL, 9432 and 9020. Together the top 10 shared positions account for 83% of the total overlap.
What does IPAC own that NFRA doesn't?
1346 positions (95.1% of IPAC) are unique to IPAC, led by CBA, 8306 and BHP. In the other direction, 156 positions (85.1% of NFRA) are unique to NFRA.