HEQ vs NFRA
John Hancock Hedged Equity & Income Fund vs Northern Trust STOXX Global Broad Infrastructure ETF
Which is better, HEQ or NFRA?
Each has led over a different period.
NFRA has a lower expense ratio. HEQ led over 1Y, 3Y and 5Y, NFRA over the full window. NFRA is less concentrated, with 19.1% of the fund in its ten largest positions against 48.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HEQ | NFRA |
|---|---|---|
| Expense Ratio | 1.16% | 0.47%Best |
| AUM | $148M | $3.0B |
| Dividend Yield | 8.10% | 5.92% |
| Holdings | 659 | 216 |
| YTD Return | +10.91%Best | +4.94% |
| 1Y Return | +15.19%Best | +5.61% |
| 3Y Return (annualized) | +15.69%Best | +13.31% |
| 5Y Return (annualized) | +6.94%Best | +5.50% |
| Volatility (annualized) | 15.1% | 12.6%Best |
| Max Drawdown | -56.1% | -32.9%Best |
| $10,000 over 5 years | $13,986Best | $13,070 |
| Top 10 Weight | 48.2% | 19.1%Best |
| Fund Family | John Hancock Investment Management | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | May 26, 2011 | Oct 8, 2013 |
Volatility and max drawdown are measured over the window both funds cover: Oct 9, 2013 to Oct 14, 2026 (13 years).
HEQ vs NFRA growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 13 years both funds cover.
HEQ vs NFRA Performance
John Hancock Hedged Equity & Income Fund (HEQ) is an ETF from John Hancock Investment Management and Northern Trust STOXX Global Broad Infrastructure ETF (NFRA) is an ETF from Northern Trust Asset Management. Over the past year HEQ returned +15.19% while NFRA returned +5.61%. Year to date, HEQ is up 10.91% versus a gain of 4.94% for NFRA.
Over three years, HEQ compounded at +15.69% per year against +13.31% for NFRA; over five years the annualized figures are +6.94% and +5.50% respectively. Across the full 13-year window we track, NFRA has the edge at +4.99% annualized vs +1.09%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HEQ has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 12.6% for NFRA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.1% for HEQ and -32.9% for NFRA. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HEQ charges 1.16% per year while NFRA charges 0.47%. On a $10,000 position that is $116 vs $47 annually, a gap of $69 per year that compounds over a long holding period. On income, HEQ currently yields 8.10% against 5.92% for NFRA.
Holdings Overlap
2.4% of HEQ's money is in holdings NFRA also owns. 3.1% of NFRA's money is in holdings HEQ also owns.
NFRA and HEQ share little of their money.
2 positions in common, counted across the 54 positions we hold weights for in HEQ and 72 in NFRA, against full books of 659 and 216.
What only one of them owns
Our book lists 19 positions for NFRA that do not appear in our book for HEQ (27.3% of the fund), and 40 for HEQ that do not appear in NFRA (87.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of HEQ and NFRA you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HEQ or NFRA?
HEQ has an expense ratio of 1.16% while NFRA charges 0.47%. NFRA is the cheaper option, by $69 a year on a $10,000 investment.
Which performed better, HEQ or NFRA?
Over the past year HEQ returned +15.19% vs +5.61% for NFRA, so HEQ leads on 1-year performance. Over the longest common window we track (13 years), HEQ annualized +1.09% vs +4.99% for NFRA. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HEQ or NFRA?
HEQ has been the more volatile fund at 15.1% annualized versus 12.6% for NFRA. Worst drawdown: HEQ -56.1% vs NFRA -32.9%.
Should I hold both HEQ and NFRA?
HEQ and NFRA have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between HEQ and NFRA?
3.1% of NFRA's money is in holdings HEQ also owns. 3.1% of NFRA's is in holdings HEQ also owns. They hold 2 positions in common, counted across the 54 positions we hold weights for in HEQ and 72 in NFRA.
Which pays a higher dividend, HEQ or NFRA?
HEQ yields 8.10% while NFRA yields 5.92%, so HEQ currently pays the higher dividend yield.
Is NFRA better than HEQ?
NFRA has a lower expense ratio. HEQ led over 1Y, 3Y and 5Y, NFRA over the full window. NFRA is less concentrated, with 19.1% of the fund in its ten largest positions against 48.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.