NFRA vs MLPX overlap
NFRA and MLPX overlap 8.3% by weight, across 13 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (NFRA: July 31, 2026, MLPX: May 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | NFRA | MLPX | Overlap |
|---|---|---|---|
| Enbridge Inc.ENB | 1.83% | 8.99% | 1.83% |
| Williams COS Inc.WMB | 1.21% | 8.54% | 1.21% |
| TC Energy Corp.TRP | 1.08% | 9.23% | 1.08% |
| Kinder Morgan inKMI | 0.87% | 7.42% | 0.87% |
| Targa ResourcesTRGP | 0.80% | 4.98% | 0.80% |
| Oneok Inc.OKE | 0.78% | 6.57% | 0.78% |
| Cheniere EnergyLNG | 0.76% | 6.35% | 0.76% |
| Pembina PipelinePBA | 0.44% | 4.55% | 0.44% |
| DT MidstreamDTM | 0.19% | 4.53% | 0.19% |
| South BOW Corp.SOBO | 0.12% | 2.51% | 0.12% |
| Antero MidstreamAM | 0.10% | 2.33% | 0.10% |
| HESS Midstream-aHESM | 0.07% | 1.62% | 0.07% |
| Kinetik HoldingsKNTK | 0.04% | 0.63% | 0.04% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: NFRA, SEC Form N-PORT, July 31, 2026; MLPX, SEC Form N-PORT, May 31, 2026.
Largest institutions holding both
| Firm | NFRA | MLPX |
|---|---|---|
| Northern Trust Corp. | $2.1B | $268K |
| Morgan Stanley | $21.6M | $818.6M |
| Bank of America Corp. | $9.0M | $170.4M |
| LPL Financial LLC | $1.8M | $105.5M |
| UBS Group AG | $1.3M | $57.4M |
| Wells Fargo & Company | $202K | $55.6M |
| Raymond James Financial Inc. | $1.5M | $40.4M |
| PNC Financial Services Group, Inc. | $538K | $37.9M |
| Envestnet Asset Management Inc. | $12.8M | $24.1M |
| JPMorgan Chase & Co | $593K | $31.2M |
| Royal Bank of Canada | $244K | $29.6M |
| Cetera Investment Advisers | $805K | $16.6M |
| HighTower Advisors, LLC | $246K | $16.6M |
| Commonwealth Equity Services, LLC | $454K | $14.7M |
| Cerity Partners LLC | $2.6M | $11.3M |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: NFRA institutional holders, MLPX institutional holders.
Frequently asked questions
How much do NFRA and MLPX overlap?
8.3% by weight, with 13 holdings in common, using holdings for NFRA as of July 31, 2026 and MLPX as of May 31, 2026. The largest shared position is ENB.
Do institutions hold both NFRA and MLPX?
64 Form 13F filers report positions in both, out of 424 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.