IWS vs NFRA: Holdings Overlap
IWSiShares Russell Mid-Cap Value ETF
iShares · 712 holdings · $15.9B · as of 2026-03-31
NFRAFlexShares STOXX Global Broad Infrastructure Index Fund
FlexShares · 185 holdings · $3.0B · as of 2026-04-30
Holdings snapshots are 30 days apart (IWS: 2026-03-31, 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 IWS and NFRA?
iShares Russell Mid-Cap Value ETF (IWS, by iShares) holds 712 positions; FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185. They have 24 holdings in common, and by portfolio weight the two funds are 6.1% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 6.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 24IWS holds 712 · NFRA holds 185
- Weight in Shared Holdings
- IWS 6%·NFRA 9%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 IWS
688 of 712 positions (93.6% of the fund) are not held by NFRA. Showing the top 30 by weight.
Only in NFRA
161 of 185 positions (90.8% of the fund) are not held by IWS. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWS | NFRA |
|---|---|---|
| Industrials | 17.1% | 25.7% |
| Utilities | 7.5% | 24.9% |
| Communication Services | 3.2% | 23.2% |
| Financials | 15.1% | 0.0% |
| Information Technology | 12.3% | 0.9% |
| Other Sectors | 44.4% | 16.4% |
| Unclassified | 0.1% | 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 (0% of IWS, 8% of NFRA).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IWS | +3.3% | +22.1% | +29.8% | +16.6% | +9.8% | +10.4% | 1.27% |
| 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 IWS vs NFRA →
Shared Holdings(24)
The top 10 shared positions account for 78% of the overlap, led by KMI, DLR and OKE.
 KMIKinder Morgan, Inc. COM | 0.66% | 0.84% | 0.66% |
|---|---|---|---|
 DLRDigital Realty Trust Inc. COM | 0.63% | 0.86% | 0.63% |
 OKEOneok Inc. COM | 0.57% | 0.76% | 0.57% |
 ETREntergy Corporation COM | 0.51% | 0.70% | 0.51% |
 EXCExelon Corp. COM | 0.50% | 0.62% | 0.50% |
 XELXcel Energy Inc COM | 0.48% | 0.65% | 0.48% |
 PEGPublic Service Enterprise Group Incorporated COM | 0.41% | 0.54% | 0.41% |
 CCICrown Castle Inc. COM | 0.36% | 0.50% | 0.36% |
 LNGCheniere Energy Inc COM NEW | 0.34% | 0.77% | 0.34% |
 AWKAmerican Water Works Company, Inc. COM | 0.27% | 0.33% | 0.27% |
 SBACSBA Communications Corp., Class A | 0.18% | 0.31% | 0.18% |
 CHTRCharter Communications, Inc., Class A | 0.18% | 0.18% | 0.18% |
 THCTenet Healthcare Corporation COM NEW | 0.17% | 0.20% | 0.17% |
 CLHClean Harbors, Inc. COM | 0.15% | 0.21% | 0.15% |
 DTMDT Midstream Inc COMMON STOCK | 0.14% | 0.20% | 0.14% |
 WTRGEssential Utilities Inc COM | 0.12% | 0.12% | 0.12% |
 EHCEncompass Health Corporation COM | 0.10% | 0.13% | 0.10% |
 UHSUniversal Health Services, Inc., Class B | 0.10% | 0.11% | 0.10% |
 AMAntero Midstream Corporation COM | 0.08% | 0.09% | 0.08% |
 LBRDKLiberty Broadband Corporation COM SER C | 0.05% | 0.06% | 0.05% |
 SIRISiriusXM Holdings Inc COMMON STOCK | 0.04% | 0.06% | 0.04% |
 ACHCAcadia Healthcare Company, Inc. COM | 0.02% | 0.03% | 0.02% |
 ASTSAST SpaceMobile, Inc., Class A | 0.01% | 0.24% | 0.01% |
 FRMIFermi Inc. COM | 0.00% | 0.02% | 0.00% |
Frequently Asked Questions
How much do IWS and NFRA overlap?
IWS and NFRA overlap by 6.1% of portfolio weight. They share 24 holdings (IWS holds 712 positions and NFRA holds 185), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWS and NFRA?
The two portfolios are 6.1% 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 IWS and NFRA?
The largest positions held by both funds are KMI, DLR, OKE, ETR and EXC. Together the top 10 shared positions account for 78% of the total overlap.
What does IWS own that NFRA doesn't?
688 positions (93.6% of IWS) are unique to IWS, led by GLW, WDC and SNDK. In the other direction, 161 positions (90.8% of NFRA) are unique to NFRA.