NFRA vs SCHE: Holdings Overlap
NFRAFlexShares STOXX Global Broad Infrastructure Index Fund
FlexShares · 185 holdings · $3.0B · as of 2026-04-30
SCHESchwab Emerging Markets Equity ETF
Schwab · 2180 holdings · $12.7B · as of 2026-05-31
Holdings snapshots are 31 days apart (NFRA: 2026-04-30, SCHE: 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 SCHE?
FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185 positions; Schwab Emerging Markets Equity ETF (SCHE, by Schwab) holds 2180. They have 29 holdings in common, and by portfolio weight the two funds are 1.9% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 29NFRA holds 185 · SCHE holds 2180
- Weight in Shared Holdings
- NFRA 9%·SCHE 2%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
156 of 185 positions (90.8% of the fund) are not held by SCHE. Showing the top 30 by weight.
Only in SCHE
2151 of 2180 positions (97.7% of the fund) are not held by NFRA. Showing the top 30 by weight.
Sector Breakdown
| Sector | NFRA | SCHE |
|---|---|---|
| Information Technology | 0.9% | 29.1% |
| Industrials | 25.7% | 2.1% |
| Utilities | 24.9% | 1.2% |
| Communication Services | 23.2% | 5.9% |
| Financials | 0.0% | 13.4% |
| Other Sectors | 16.4% | 17.1% |
| Unclassified | 8.4% | 30.8% |
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, 31% of SCHE).
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% |
| SCHE | +3.4% | +13.1% | +22.4% | +17.1% | +6.7% | +8.0% | 2.57% |
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 SCHE →
Shared Holdings(29)
The top 10 shared positions account for 71% of the overlap, led by BHARTI, ADSEZ and ICT.
 BHARTIBharti Airtel Ltd. | 1.60% | 0.54% | 0.54% |
|---|---|---|---|
 ADSEZAdani Ports & Special Economic Zone Ltd. | 0.73% | 0.14% | 0.14% |
 ICTInternational Container Terminal Services, Inc. | 0.81% | 0.12% | 0.12% |
 SBSP3Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 0.73% | 0.12% | 0.12% |
 GAPBGrupo Aeroportuario del Pacifico SAB de CV, Class B | 0.48% | 0.09% | 0.09% |
 APHSApollo Hospitals Enterprise Ltd. | 0.44% | 0.08% | 0.08% |
 MAXHEALTMax Healthcare Institute Ltd. | 0.34% | 0.07% | 0.07% |
 IHHIHH Healthcare Bhd. | 0.21% | 0.06% | 0.06% |
 RDOR3Rede D'Or Sao Luiz SA | 0.28% | 0.06% | 0.06% |
 AOT-RAirports of Thailand PCL | 0.32% | 0.06% | 0.06% |
 INDUSTOWIndus Towers Ltd. | 0.16% | 0.06% | 0.06% |
 2Y11China Tower Corp. Ltd., Class H | 0.17% | 0.06% | 0.06% |
 BDMS-RBangkok Dusit Medical Services PCL | 0.36% | 0.05% | 0.05% |
 ASURBGrupo Aeroportuario del Sureste SAB de CV, Class B | 0.24% | 0.04% | 0.04% |
 PETGASPetronas Gas Bhd. | 0.04% | 0.04% | 0.04% |
| Grupo Aeroportuario del Centro Norte SAB de CV, Class B | 0.17% | 0.03% | 0.03% |
 RAIL3Rumo SA | 0.21% | 0.03% | 0.03% |
 MOTV3Motiva Infraestrutura de Mobilidade SA | 0.17% | 0.03% | 0.03% |
| Promotora y Operadora de Infraestructura SAB de CV | 0.13% | 0.03% | 0.03% |
 270Guangdong Investment Ltd. | 0.13% | 0.03% | 0.03% |
 GMRAIRPOGMR Airports Ltd. | 0.17% | 0.03% | 0.03% |
| Bumrungrad Hospital PCL | 0.20% | 0.03% | 0.03% |
 144China Merchants Port Holdings Co. Ltd. | 0.12% | 0.02% | 0.02% |
| Cia de Saneamento de Minas Gerais Copasa MG | 0.10% | 0.02% | 0.02% |
 371Beijing Enterprises Water Group Ltd. | 0.07% | 0.01% | 0.01% |
Frequently Asked Questions
How much do NFRA and SCHE overlap?
NFRA and SCHE overlap by 1.9% of portfolio weight. They share 29 holdings (NFRA holds 185 positions and SCHE holds 2180), based on each fund's latest SEC-reported holdings.
Is it redundant to own both NFRA and SCHE?
The two portfolios are 1.9% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of NFRA and SCHE?
The largest positions held by both funds are BHARTI, ADSEZ, ICT, SBSP3 and GAPB. Together the top 10 shared positions account for 71% of the total overlap.
What does NFRA own that SCHE doesn't?
156 positions (90.8% of NFRA) are unique to NFRA, led by 9984, CP and DTE. In the other direction, 2151 positions (97.7% of SCHE) are unique to SCHE.