NFRA vs EWC: Holdings Overlap
NFRAFlexShares STOXX Global Broad Infrastructure Index Fund
FlexShares · 185 holdings · $3.0B · as of 2026-04-30
iShares · 84 holdings · $6.2B · as of 2026-05-31
Holdings snapshots are 31 days apart (NFRA: 2026-04-30, EWC: 2026-05-31). 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 NFRA and EWC?
FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185 positions; iShares MSCI Canada ETF (EWC, by iShares) holds 84. They have 9 holdings in common, and by portfolio weight the two funds are 8.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 8.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 9NFRA holds 185 · EWC holds 84
- Weight in Shared Holdings
- NFRA 12%·EWC 13%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 NFRA
176 of 185 positions (87.9% of the fund) are not held by EWC. Showing the top 30 by weight.
Only in EWC
75 of 84 positions (87.1% of the fund) are not held by NFRA. Showing the top 30 by weight.
Sector Breakdown
| Sector | NFRA | EWC |
|---|---|---|
| Financials | 0.0% | 37.4% |
| Industrials | 25.7% | 5.5% |
| Utilities | 24.9% | 2.0% |
| Communication Services | 23.2% | 0.7% |
| Energy | 8.5% | 17.1% |
| Other Sectors | 8.8% | 30.2% |
| Unclassified | 8.4% | 6.9% |
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 (8% of NFRA, 7% of EWC).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| NFRA | +1.4% | +10.0% | +12.8% | +12.9% | +6.1% | +6.9% | 5.63% |
| EWC | +5.0% | +14.2% | +31.3% | +22.9% | +12.6% | +11.6% | 1.22% |
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 NFRA vs EWC →
Shared Holdings(9)
The top 9 shared positions account for 100% of the overlap, led by CP, CNI and ENB.
 CPCanadian Pacific Kansas City Ltd. | 3.64% | 2.60% | 2.60% |
|---|---|---|---|
 CNICanadian National Railway Company COM | 2.94% | 2.02% | 2.02% |
 ENBEnbridge Inc. COM | 1.86% | 3.89% | 1.86% |
 TRPTC Energy Corp COM | 1.08% | 2.25% | 1.08% |
 PBAPembina Pipeline Corporation COM | 0.42% | 0.88% | 0.42% |
 GFLGFL Environmental, Inc. | 0.65% | 0.26% | 0.26% |
 ALAAltaGas Ltd. | 0.19% | 0.39% | 0.19% |
 KEYKeyera Corp. | 0.14% | 0.38% | 0.14% |
 BCEBCE Inc. COM NEW | 0.62% | 0.06% | 0.06% |
Frequently Asked Questions
How much do NFRA and EWC overlap?
NFRA and EWC overlap by 8.6% of portfolio weight. They share 9 holdings (NFRA holds 185 positions and EWC holds 84), based on each fund's latest SEC-reported holdings.
Is it redundant to own both NFRA and EWC?
The two portfolios are 8.6% 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 NFRA and EWC?
The largest positions held by both funds are CP, CNI, ENB, TRP and PBA. Together the top 9 shared positions account for 100% of the total overlap.
What does NFRA own that EWC doesn't?
176 positions (87.9% of NFRA) are unique to NFRA, led by 9984, DTE and NEE. In the other direction, 75 positions (87.1% of EWC) are unique to EWC.