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Data as of Nov 4, 2026.

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Thematic ETFs

AIPO vs PBOT: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, AIPO returned −1.7% to PBOT's +17.1%; 13% of their weight is in the same names.

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Net assets: $831m on Nov 3, 2026 for Defiance AI & Power Infrastructure ETF, and $14m on Jun 30, 2026 for Pictet AI & Automation ETF.

AIPO on its own →PBOT on its own →
At a glance
67.6%
AIPO in the S&P 500
60.7%
PBOT in the S&P 500
−1.7%
AIPO total return, 1 year
+17.1%
PBOT total return, 1 year
AIPO · 1 year to Nov 4, 2026 32% of its weight is outside the S&P 500
32% of its weight is outside the S&P 50068% of AIPO's weight is in S&P 500 companies and 32% is outside the index. Holdings as of Nov 4, 2026.68%32%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 86% · top ten 58% of the fund · 86 holdings as published by its issuer for Nov 4, 2026 · Nasdaq-100: 24% in32% of its weight is outside the S&P 50068% of AIPO's weight is in S&P 500 companies and 32% is outside the index. Holdings as of Nov 4, 2026.68%32%in the S&P 500outsideactive share 86% · Nasdaq-100: 24% in

68% of AIPO's weight is in S&P 500 companies and 32% is outside the index. Holdings as of Nov 4, 2026.

PBOT · 1 year to Nov 4, 2026 39% of its weight is outside the S&P 500
39% of its weight is outside the S&P 50061% of PBOT's weight is in S&P 500 companies and 39% is outside the index. Holdings as of Jun 30, 2026.61%39%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 82% · top ten 53% of the fund · 44 holdings as filed for Jun 30, 2026 · Nasdaq-100: 52% in39% of its weight is outside the S&P 50061% of PBOT's weight is in S&P 500 companies and 39% is outside the index. Holdings as of Jun 30, 2026.61%39%in the S&P 500outsideactive share 82% · Nasdaq-100: 52% in

61% of PBOT's weight is in S&P 500 companies and 39% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

AIPO costs 0.01 points a year less; their one-year returns differ by 18.8 points.

Points (pts) are percentage points.

AIPO vs PBOT: Holdings Overlap & Returns
MeasureAIPOPBOT
Return
Total return, 1 year−1.7%+17.1%
Drawdown
Below its all-time high32.0%, high on Jun 22, 202617.2%, high on Oct 6, 2026
Against its benchmark
What it tracksAI infrastructure and chipsArtificial intelligence
Against the S&P 500, 1 yearbehind by 16.5 pts
Its benchmark, total return, 1 year+14.8%+15.0%
Against its benchmark, 1 yearbehind by 16.5 ptsahead by 2.1 pts
Cost and size
Expense ratio0.69%0.70%
Net assets, AIPO as of Nov 3, 2026 and PBOT as of Jun 30, 2026$831m$14m
Holdings
Holdings in common13%
ETFIQ S&P 500 Difference Score · AIPO scores higher How much of its weight does it not share with the S&P 500?
IQ Themes Score51.3AIPO38.2PBOT

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

13%

By the books each fund has filed, AIPO and PBOT hold 13% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

0 half 100%

half

13% in common

Positions both hold · largest shared weight first AIPO PBOT
Broadcom Inc 4.42% 6.31%
Alphabet Inc 4.33% 6.83%
Nvidia Corp 4.44% 3.13%
Advanced Micro Devices Inc 2.70% 1.44%
Only in one fund ↓
Only in AIPO
Quanta Services Inc 9.16%
Ge Vernova Inc 8.67%
Eaton Corp Plc 8.42%
Vertiv Holdings Co 6.59%
Bloom Energy Corp 4.69%
Constellation Energy Corp 3.55%
Cameco Corp 3.39%
Hubbell Inc 2.18%
Only in PBOT
KLA CORP 6.33%
TAIWAN SEMICONDUCTOR-SP ADR 6.31%
ASML HOLDING NV /EUR 5.75%
SNOWFLAKE INC 4.71%
CROWDSTRIKE HOLDINGS INC - A 4.62%
PALO ALTO NETWORKS INC 4.55%
INFINEON TECHNOLOGIES AG /EUR 3.90%
CLOUDFLARE INC - CLASS A 2.92%
Check overlap with more funds →

Window by window

Window by window: AIPO vs PBOT: Holdings Overlap & Returns
Total returnvs its benchmark
WindowAIPOPBOTAIPOPBOT
3 months−21.5%−8.8%−21.4 pts vs VOO−7.5 pts vs ACWI
6 months−29.0%+5.5%−34.0 pts vs VOO+2.9 pts vs ACWI
1 year−1.7%+17.1%−16.5 pts vs VOO+2.1 pts vs ACWI
Since launchNot the same days: AIPO Jul 2025 · PBOT Oct 2025+16.2%+20.9%−5.9 pts vs VOO+4.4 pts vs ACWI

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Side by side

AIPO Defiance AI & Power Infrastructure ETF · Holds 86 stocks in aI infrastructure and chips, 68% of its weight in S&P 500 companies PBOT Pictet AI & Automation ETF · Holds 44 stocks in artificial intelligence, 61% of its weight in S&P 500 companies
Issuer Defiance Pictet
Theme AI infrastructure and chips Artificial intelligence
In the S&P 500 67.6% 60.7%
Active share vs the S&P 500 85.7% 82.1%
In the Nasdaq-100 23.5% 51.8%
Holdings 86 44
Top ten, share of the fund 57.7% 52.5%
Expense ratio 0.69% 0.70%
Fee for the differing part 0.81% 0.85%
Total return, 1 year −1.7% +17.1%
vs its benchmark −16.5 pts vs VOO +2.1 pts vs ACWI
Below its high −32.0% −17.2%
Net assets, AIPO as of Nov 3, 2026 and PBOT as of Jun 30, 2026 $831m $14m

As of Nov 4, 2026. Source: ETFIQ.

13% of the two portfolios are the same securities at the same weight.

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About each fund
AIPO

By weight, 68% of AIPO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 86%. The top ten holdings are 58% of the fund across 86 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned −1.7% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Total Return Index, so a holder was behind by 16.5 pts. It sits 32.0% below its all-time high of Jun 22, 2026.

PBOT

By weight, 61% of PBOT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 82%. The top ten holdings are 52% of the fund across 44 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +17.1% with distributions reinvested against +15.0% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 2.1 pts. It sits 17.2% below its all-time high of Oct 6, 2026.

Questions people ask

Do AIPO and PBOT hold the same stocks?
By their latest filings, 13% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, AIPO or PBOT?
AIPO has 68% of its weight in S&P 500 names and PBOT has 61%, so AIPO differs more from the index.
Which is cheaper, AIPO or PBOT?
AIPO charges 0.69% a year and PBOT charges 0.70%, so AIPO is cheaper. Fees come from each fund's prospectus.
Other comparisons
AIPO vs BAIAIPO vs HLTHAIPO vs AGIQAIPO vs WDRNPBOT vs AIHYPBOT vs TCAIPBOT vs CHPXPBOT vs IVEP
Where to next
AIPO on its own →PBOT on its own →AIPO dividend history →AIPO holdings →PBOT dividend history →PBOT holdings →Method →Standards and sources →
Sources and dates
AIPO filings on SEC EDGAR ↗
AIPO prospectus with the expense ratio (SEC) ↗
Defiance page for AIPO ↗
PBOT filings on SEC EDGAR ↗
PBOT prospectus with the expense ratio (SEC) ↗
Pictet website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AIPO against PBOT, data as of Nov 4, 2026. https://etfiq.com/compare/themes/aipo-vs-pbot

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.