NFRA vs VEA: Holdings Overlap
NFRAFlexShares STOXX Global Broad Infrastructure Index Fund
FlexShares · 185 holdings · $3.0B · as of 2026-04-30
VEAVanguard Developed Markets Index Fund
Vanguard · 3886 holdings · $235.0B · as of 2026-03-31
Holdings snapshots are 30 days apart (NFRA: 2026-04-30, VEA: 2026-03-31). 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 VEA?
FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185 positions; Vanguard Developed Markets Index Fund (VEA, by Vanguard) holds 3886. They have 73 holdings in common, and by portfolio weight the two funds are 5.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 5.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 73NFRA holds 185 · VEA holds 3886
- Weight in Shared Holdings
- NFRA 50%·VEA 6%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
112 of 185 positions (48.9% of the fund) are not held by VEA. Showing the top 30 by weight.
Sector Breakdown
| Sector | NFRA | VEA |
|---|---|---|
| Industrials | 25.7% | 13.9% |
| Utilities | 24.9% | 2.8% |
| Communication Services | 23.2% | 2.7% |
| Financials | 0.0% | 20.4% |
| Information Technology | 0.9% | 9.9% |
| Other Sectors | 16.4% | 30.9% |
| Unclassified | 8.4% | 18.5% |
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 (8% of NFRA, 19% of VEA).
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% |
| VEA | +3.0% | +17.5% | +29.9% | +19.8% | +10.2% | +10.3% | 2.49% |
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 VEA →
Shared Holdings(73)
The top 10 shared positions account for 55% of the overlap, led by IBE, DTE and ENB.
 IBEIberdrola SA | 2.23% | 0.52% | 0.52% |
|---|---|---|---|
 DTEDeutsche Telekom AG (Registered) | 3.22% | 0.44% | 0.44% |
 ENBEnbridge Inc. COM | 1.86% | 0.41% | 0.41% |
 9984SoftBank Group Corp. | 3.76% | 0.33% | 0.33% |
 ENELEnel SpA | 1.39% | 0.29% | 0.29% |
 NG-National Grid plc | 1.43% | 0.29% | 0.29% |
 CPCanadian Pacific Kansas City Ltd. | 3.64% | 0.24% | 0.24% |
 TRPTC Energy Corp COM | 1.08% | 0.22% | 0.22% |
 CNICanadian National Railway Company COM | 2.94% | 0.19% | 0.19% |
 DHLDeutsche Post AG | 2.62% | 0.17% | 0.17% |
 EOANE.ON SE | 0.77% | 0.17% | 0.17% |
 9433KDDI Corp. | 1.35% | 0.16% | 0.16% |
 RWERWE AG | 0.75% | 0.15% | 0.15% |
 SSESSE plc | 0.66% | 0.14% | 0.14% |
 WCNWaste Connections, Inc. | 1.96% | 0.14% | 0.14% |
 TCLTransurban Group | 1.47% | 0.10% | 0.10% |
 9432NTT Inc. NPV | 1.43% | 0.09% | 0.09% |
 PBAPembina Pipeline Corporation COM | 0.42% | 0.09% | 0.09% |
 9020East Japan Railway Co. | 1.15% | 0.08% | 0.08% |
 VIEVeolia Environnement SA | 1.32% | 0.08% | 0.08% |
 9022Central Japan Railway Co. | 1.08% | 0.08% | 0.08% |
 FREFresenius SE & Co. KGaA | 0.93% | 0.07% | 0.07% |
 SCMNSwisscom AG (Registered) | 0.61% | 0.07% | 0.07% |
 ENGIEngie SA | 0.95% | 0.07% | 0.07% |
 KPNKoninklijke KPN NV | 0.59% | 0.07% | 0.07% |
Frequently Asked Questions
How much do NFRA and VEA overlap?
NFRA and VEA overlap by 5.6% of portfolio weight. They share 73 holdings (NFRA holds 185 positions and VEA holds 3886), based on each fund's latest SEC-reported holdings.
Is it redundant to own both NFRA and VEA?
The two portfolios are 5.6% 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 VEA?
The largest positions held by both funds are IBE, DTE, ENB, 9984 and ENEL. Together the top 10 shared positions account for 55% of the total overlap.
What does NFRA own that VEA doesn't?
112 positions (48.9% of NFRA) are unique to NFRA, led by NEE, VZ and T. In the other direction, 3813 positions (93.5% of VEA) are unique to VEA.