ETF Education Report: Harrison Street Infrastructure Active ETF (NFRX)

What this ETF is trying to do

The Harrison Street Infrastructure Active ETF (NFRX) is an exchange-traded fund that focuses on infrastructure. Based on its top holdings, the fund invests in various companies involved in areas like energy and transportation. This list of top holdings is partial, meaning it only shows some of the companies the fund owns.

Top Holdings

As of October 4, 2026, some of the largest companies in this fund include:

• Union Pacific Corp (6.26%)

• Williams Companies Inc (4.98%)

• National Grid PLC (4.70%)

• Atmos Energy Corp (4.32%)

• Aena SME SA (4.24%)

• Targa Resources Corp (4.18%)

• Canadian National Railway Co (4.17%)

• Xcel Energy Inc (4.04%)

• Centerpoint Energy Inc (3.96%)

• NextEra Energy Inc (3.94%)

Please remember that holdings can change over time.

What the numbers show

As of September 18, 2026, the current price of NFRX is $25.28.

Currently, there is no data available for the fund's price returns (how much the share price changed) or total returns (which include distributions). Because there is no historical price data provided, we cannot calculate how much the value has changed over the last year or since the start of the year.

Income and distribution explanation

Some investors look at ETFs to receive regular cash payments, known as distributions. The distribution yield for NFRX is approximately 1.05%. This number describes the cash distributions relative to the current ETF price.

The trailing distributions were $0.2653. The fund has a distribution frequency described as "irregular" or "less frequent," with 2 payouts recorded over the last 12 months. It is important to understand that a distribution yield is not the same as a total return.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value, which is the actual value of the assets held by the fund. While a falling share price can sometimes be related to changes in value, a falling market price does not automatically prove that NAV has declined.

For this ETF, there is no severe erosion-risk flag present. The erosion score is currently withheld because there is not enough verified price history available to provide a measurement.

Pros

• The fund provides exposure to a wide variety of infrastructure-related companies.

• It offers a distribution yield, providing some cash payments to investors.

Cons

• There is currently no supplied data for price returns or total returns to show how the fund has performed historically.

• The distribution frequency is irregular, meaning payments may not happen on a predictable schedule.

Beginner takeaway

When looking at an ETF like NFRX, it is important to look at both the share price and the distributions. High yields can sometimes be misleading, so investors should always check if the total return (which includes both price changes and distributions) is positive. Since historical performance data was not supplied for this fund, new investors should be aware that there is no recorded track record available in this report to judge its past success.