What Is the NFRX ETF? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The Harrison Street Infrastructure Active ETF (NFRX) is an actively managed fund that invests in the infrastructure theme without tracking an index. Its management strategy, fees, and differences from infrastructure-related ETFs such as PAVE and IGF are the key selection criteria, and its outlook warrants careful review.
SubscribeWhat Is the Harrison Street Infrastructure Active ETF?
It is an actively managed, infrastructure-themed ETF in which the management team selects securities directly instead of tracking a specific index. It holds infrastructure-related assets together with income-oriented securities to build a diversified portfolio.
It suits investors who want exposure to the infrastructure theme and prefer active selection by a management team over index tracking.
It is an ETF run by Harrison Street using an active (actively managed) approach.
How Does the Harrison Street Infrastructure Active ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | None (active management) |
| Management Style | Active (selected by management team) |
| Rebalancing Frequency | At management's discretion |
| Distribution Frequency | Depends on fund policy |
| Fund Manager | Harrison Street |
| Total Expense Ratio | 0.80% |
The fund follows an active strategy in which the management team adjusts holding weights to market conditions, centered on assets tied to the infrastructure theme. Rather than replicating a set index, it also holds income-oriented assets, seeking both diversification benefits and stable cash flow.
- Active security selection at the management team's discretion
- A combination of the infrastructure theme and income-oriented assets
Harrison Street Infrastructure Active ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $114.7M, and the total expense ratio is 0.80% per year.
Harrison Street Infrastructure Active ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeGiven the nature of active management, performance depends on the management team's allocation decisions and the market trends of infrastructure-related assets. Recently, the interest rate environment and credit market volatility have continued to influence performance.
Fund flows occur in line with demand for the infrastructure theme and income-oriented assets, and investor sentiment shifts with changes in interest rates and credit spreads.
Harrison Street Infrastructure Active ETF Pros and Cons
Its strength is flexible asset allocation through active management, while the fee burden of active management and reliance on manager performance are points to watch.
💪 Key Strengths
⚠️ Points to Watch
Harrison Street Infrastructure Active ETF Alternative ETFs and Related Products
GRID, TAN, BOTZ and others listed in the same category in the table are passive products concentrated in stocks of specific themes such as clean energy, solar power, and robotics, so they differ in character from this fund, which takes an active approach to a broad range of infrastructure assets. Other comparison candidates in the infrastructure theme include PAVE, which invests in US infrastructure construction companies, IGF, which invests in global listed infrastructure companies, IFRA, which offers exposure to US infrastructure development companies, and NFRA, which holds a broad range of infrastructure companies.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 GRID | First Trust Clean Edge Smart Grid | $164.51 | -3.4% | $11.5B | 0.56% | 0.94% | +4.8% |
 BOTZ | Global X Funds Global X Robotics & Artificial Intelligence ETF | $32.22 | -3.6% | $3.1B | 0.68% | 0.55% | -13.9% |
 AIS | VistaShares Artificial Intelligence Supercycle ETF | $59.58 | -8.2% | $1.2B | 0.75% | - | +48.2% |
 NASA | Tema Space Innovators ETF | $20.42 | -5.5% | $987.7M | 0.75% | - | - |
 TAN | Invesco Solar ETF | $40.20 | -2.4% | $892.5M | 0.70% | - | -15.8% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| UNP | Union Pacific Corp | 0.05% | $304.00 | +0.7% | $180.7B | 23.7 | 1.81% |
| NGG | National Grid Plc ADR | 0.10% | $83.95 | -0.3% | $84.4B | 19.2 | 3.96% |
| WMB | Williams Cos Inc | 0.09% | $74.35 | -0.7% | $90.9B | 29.7 | 2.84% |
| CNP | Centerpoint Energy Inc | 0.09% | $42.44 | +0.5% | $28.1B | 24.3 | 2.18% |
| ATO | Atmos Energy Corp | 0.09% | $172.41 | +0.8% | $29.1B | 20.5 | 2.32% |
| NEE | NextEra Energy Inc | 0.04% | $83.71 | +1.9% | $175.6B | 15.1 | 2.97% |
Harrison Street Infrastructure Active ETF Investor Checkpoints
Here are the points to review before investing in NFRX. Since it is an actively managed ETF, it is important to check the management strategy, fees, and the nature of its holdings in advance, and it also helps to compare it with other infrastructure-related ETFs.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee level associated with active management | Annual fee applies |
| 🧭 Management Strategy | Understand the active selection approach rather than index tracking | Management discretion |
| 📊 Holdings | Check the mix of infrastructure theme and income-oriented assets | Diversified composition |
| 💱 Exchange Rate | Impact on returns converted to Korean won | No currency hedge |
Reliance on active management performance and the interest rate and credit exposure of income-oriented assets are the main sources of volatility. If the management team's judgment diverges from the market, performance may lag the benchmark.
It is an option worth considering for investors who want to approach the infrastructure theme through active management. If you simply want index exposure, it is advisable to compare passive infrastructure ETFs such as PAVE and IGF, and if you want active selection combined with income-oriented assets, to consider NFRX alongside them.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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