PIPE vs IFRA

APIPE

BIFRA

Measures won2–2level · of 6 · 5Y

$10,000 · 5Y$38,820SMH · IFRA $17,812

Lowest cost0.30%IFRA · $30 on $10k

Most income4.03%PIPE · $403 on $10k

Smallest drop−9.1%PIPE · worst fall in 1Y

Held in common8.5%PIPE and IFRA

PIPE

IFRA

Invesco SteelPath MLP & Energy Infrastructure ETF · $65MiShares U.S. Infrastructure ETF · $4.0B

[…]3 years · per year[…] · $17,580+20.7%

[…]5 years · per year[…] · $17,812+12.2%

0.75%Expense ratio$75 · $30 on $10k · lower wins0.30%

4.03%12-mo yield$403 · $175 on $10k1.75%

−9.1%Worst dropSmaller wins−13.7%

17.0%VolatilityLower wins15.1%

2–2Level

$10,000 · 5 yearsAll three, one scale

Shared top holdingsPIPE · IFRA

6.3%WMB2.5%

4.6%KMI1.8%

5.7%TRP1.8%

5.0%OKE1.7%

Held in common8.5%

End-of-day Nov 4, 2026 · $10,000 5 years ago, dividends reinvested · ● winner of the row · each row scaled to the bigger of the two

All Three

5Y3 funds

#
1	SMH	VanEck Semiconductor ETFRead Desk	0.35%	0.22%	−2.7%	+40.0%	+38.2%	+54.7%	+31.2%	−24.6%	$65.4B
2	BIFRA	iShares U.S. Infrastructure ETFRead Desk	0.30%	1.75%	−1.1%	+11.5%	+12.3%	+20.7%	+12.2%	−13.7%	$4.0B
3	APIPE	Invesco SteelPath MLP & Energy Infrastructure ETFRead Desk	0.75%	4.03%	−4.0%	+23.7%	+29.9%	new	new	−9.1%	$65M

End-of-day Nov 4, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

All Three

5Y3 funds

#
1	SMH	VanEck Semiconductor ETFRead Desk	0.35%	0.22%	−2.7%	+40.0%	+38.2%	+54.7%	+31.2%	−24.6%	$65.4B
2	BIFRA	iShares U.S. Infrastructure ETFRead Desk	0.30%	1.75%	−1.1%	+11.5%	+12.3%	+20.7%	+12.2%	−13.7%	$4.0B
3	APIPE	Invesco SteelPath MLP & Energy Infrastructure ETFRead Desk	0.75%	4.03%	−4.0%	+23.7%	+29.9%	new	new	−9.1%	$65M

End-of-day Nov 4, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

Cards for this view

PIPE vs IFRA

PIPE

Invesco SteelPath MLP & Energy Infrastructure

[…]

IFRA

iShares U.S. Infrastructure

$17,812

MeasurePIPEIFRA

Fee0.75%0.30%

Cost on $10k a year$75$30

Yield4.03%1.75%

5 years, per year[…]+12.2%

3 years, per year[…]+20.7%

Worst drop · 1Y−9.1%−13.7%

Volatility · 1Y17.0%15.1%

2–2measures won
level

8.5%

holdings shared

Nov 4, 2026 · $10,000 five years ago, dividends reinvested

SOXX vs SMH

YTD

iSharesSOXX

+49.8%

SMHVanEck

+40.0%

+49.8%Year to date+40.0%

0.33% · $33Fee · on $10k a year0.35% · $35

$42.6BAssets$65.4B

2–0SOXX wins

End-of-day Nov 4, 2026

SCHD vs VIG

YTD

SchwabSCHD

+35.3%

VIGVanguard

+16.4%

+35.3%Year to date+16.4%

2.9%Yield1.4%

$123BAssets$109B

2–0SCHD wins

End-of-day Nov 4, 2026

JEPQ vs JEPI

YTD

J.P. MorganJEPQ

+8.5%

JEPIJ.P. Morgan

+8.8%

+8.5%Year to date+8.8%

12.2%Yield7.8%

$42.1BAssets$46.1B

1–1level

End-of-day Nov 4, 2026

Overlap: PIPE, IFRA, SMH

Today

8.5%most shared, PIPE and IFRA

PIPEIFRASMH

PIPE—8.5%0.0%

IFRA8.5%—0.0%

SMH0.0%0.0%—

End-of-day Nov 4, 2026 · share held in common · outlined: the pair in versus

Income After Fees on $10,000

$328most kept, PIPE

PIPE$403 − $75 = $328

IFRA$175 − $30 = $145

SMH$22 − $35 = −$13

KeptFee

End-of-day Nov 4, 2026 · yield in dollars minus the fee