Do AIRR and BAI hold the same stocks?

By their latest filings, 0% 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, AIRR or BAI?

AIRR has 15% of its weight in S&P 500 names and BAI has 55%, so AIRR differs more from the index.

Which is cheaper, AIRR or BAI?

AIRR charges 0.69% a year and BAI charges 0.55%, so BAI is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

AIRR vs BAI: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, AIRR returned −0.2% to BAI's +19.6%; 0% of their weight is in the same names.

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Net assets: $8.4bn on Oct 27, 2026 for First Trust RBA American Industrial Renaissance ETF, and $13.6bn on Oct 28, 2026 for iShares A.I. Innovation and Tech Active ETF.

AIRR on its own →BAI on its own →

At a glance

14.7%

AIRR in the S&P 500

55.3%

BAI in the S&P 500

−0.2%

AIRR total return, 1 year

+19.6%

BAI total return, 1 year

AIRR · 1 year to Oct 28, 2026 85% of its weight is outside the S&P 500

15% of AIRR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Oct 27, 2026.

BAI · 1 year to Oct 28, 2026 45% of its weight is outside the S&P 500

55% of BAI's weight is in S&P 500 companies and 45% is outside the index. Holdings as of Oct 27, 2026.

Pair scorecard

BAI costs 0.14 points a year less; their one-year returns differ by 19.8 points; BAI is 1.6 times larger.

Points (pts) are percentage points.

AIRR vs BAI: Holdings Overlap & Returns
Measure	AIRR	BAI
Return
Measure	AIRR	BAI
Total return, 1 year	−0.2%	+19.6%
Drawdown
Measure	AIRR	BAI
Below its all-time high	25.5%, high on Jun 22, 2026	19.6%, high on Jun 22, 2026
Against its benchmark
Measure	AIRR	BAI
What it tracks	Reshoring and manufacturing	Artificial intelligence
Against the S&P 500, 1 year	behind by 13.9 pts
Its benchmark, total return, 1 year	+13.7%	+47.8%
Against its benchmark, 1 year	behind by 13.9 pts	behind by 28.2 pts
Cost and size
Measure	AIRR	BAI
Expense ratio	0.69%	0.55%
Net assets, as of Oct 27, 2026	$8.4bn	$13.2bn
Holdings
Measure	AIRR	BAI
Holdings in common	0%
Top ten holdings, share of the fund	33%	42%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Nov 1, 2024 to Oct 23, 2026 · 103 weekly returns

AIRR BAI

Return

Total return edge BAI +27.6% +67.0%

Annualized edge BAI +13.1% +29.5%

Price return edge BAI +27.2% +64.0%

Risk

Volatility edge AIRR 25.3% 34.4%

Max drawdown edge AIRR −27.0% −33.3%

Downside capture 112.9% 102.9%

Beta 1.20 0.98

Risk-adjusted

Sharpe edge BAI 0.45 0.81

Sortino edge BAI 0.71 1.19

Treynor 0.115 0.283

Calmar edge BAI 0.49 0.89

Against the benchmark

Alpha −0.8% a year −9.4% a year

Alpha t-stat −0.19 −1.15

Information ratio 0.10 −0.88

Tracking error 16.2% 11.3%

Each against its own benchmark: AIRR against VOO, Mar 21, 2014 to Oct 23, 2026; BAI against ARTY, Nov 1, 2024 to Oct 23, 2026.

Reading

BAI returned more: +67.0% to +27.6%. AIRR swung less: 25.3% to 34.4%. AIRR fell less at its worst: −27.0% to −33.3%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: AIRR vs BAI: Holdings Overlap & Returns
Measure	AIRR	BAI	Edge	How it is measured
Return
Total return	+27.6%	+67.0%	BAI	Price change plus distributions, reinvested.
Annualized	+13.1%	+29.5%	BAI	Total return as a yearly rate.
Price return	+27.2%	+64.0%	BAI	Price change alone, distributions left out.
Risk
Volatility	25.3%	34.4%	AIRR	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	16.0%	23.4%	AIRR	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−27.0%	−33.3%	AIRR	Deepest fall from a high to the low after it.
Upside capture	125.3%	91.9%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	112.9%	102.9%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.20	0.98	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.60	0.89	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.45	0.81	BAI	Return above Treasury bills per unit of volatility.
Sortino	0.71	1.19	BAI	Return above Treasury bills per unit of downside deviation.
Treynor	0.115	0.283		Return above Treasury bills per unit of beta.
Calmar	0.49	0.89	BAI	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	VOO	ARTY		The ETF each fund is measured against.
Alpha	−0.8% a year	−9.4% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.19	−1.15	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−9.7% to +8.0%	−25.5% to +6.8%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.10	−0.88		Return against its benchmark per unit of tracking error.
Tracking error	16.2%	11.3%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 103 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, AIRR and BAI hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first AIRR BAI

Only in one fund ↓

Only in AIRR

C.H. Robinson Worldwide, Inc. 3.83%

Karman Holdings Inc. 3.51%

Kratos Defense & Security Solutions, Inc. 3.47%

BWX Technologies, Inc. 3.33%

Herc Holdings, Inc. 3.30%

Owens Corning 3.20%

RBC Bearings Incorporated 3.19%

Dycom Industries, Inc. 3.13%

Only in BAI

MICRON TECHNOLOGY 6.21%

NVIDIA 5.61%

ADVANCED MICRO DEVICES 5.54%

TAIWAN SEMICONDUCTOR MANUFACTURING 5.00%

BROADCOM INC 4.50%

LAM RESEARCH 3.43%

SPACE EXPLORATION TECHNOLOGIES COR 3.40%

SNOWFLAKE 3.21%

Check overlap with more funds →

Window by window

Window by window: AIRR vs BAI: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AIRR	BAI	AIRR	BAI
3 months	−10.0%	+16.3%	−16.1 pts vs VOO	−5.1 pts vs ARTY
6 months	−18.4%	+5.1%	−27.5 pts vs VOO	−17.8 pts vs ARTY
1 year	−0.2%	+19.6%	−13.9 pts vs VOO	−28.2 pts vs ARTY
3 years	+112.5%	–	+17.0 pts vs VOO	–
Since launchNot the same days: AIRR Mar 2014 · BAI Oct 2024	+418.8%	+77.2%	+4.1 pts vs VOO	−33.5 pts vs ARTY

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Side by side

AIRR First Trust RBA American Industrial Renaissance ETF · Holds 55 stocks in reshoring and manufacturing, 15% of its weight in S&P 500 companies BAI iShares A.I. Innovation and Tech Active ETF · Holds 49 stocks in artificial intelligence, 55% of its weight in S&P 500 companies

Issuer First Trust iShares

Theme Reshoring and manufacturing Artificial intelligence

In the S&P 500 14.7% 55.3%

Active share vs the S&P 500 99.8% 75.9%

In the Nasdaq-100 not published 50.1%

Holdings 55 49

Top ten, share of the fund 33.2% 42.5%

Expense ratio 0.69% 0.55%

Fee for the differing part 0.69% 0.72%

Total return, 1 year −0.2% +19.6%

vs its benchmark −13.9 pts vs VOO −28.2 pts vs ARTY

Below its high −25.5% −19.6%

Net assets, AIRR as of Oct 27, 2026 and BAI as of Oct 28, 2026 $8.4bn $13.6bn

As of Oct 28, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Client brief · page 1 of 2 Report BR-3662FBA6E6

AIRR and BAI are built for the same job. How do they differ in cost, holdings and results?

Theme. AIRR covers Reshoring and manufacturing and BAI covers Artificial intelligence.
What each follows. AIRR follows Reshoring and manufacturing and BAI follows Artificial intelligence.
Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).

Data as of Oct 28, 2026.

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About each fund

AIRR

By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%.

The top ten holdings are 33% of the fund across 55 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 25.5% below its all-time high of Jun 22, 2026.

BAI

By weight, 55% of BAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 76%. The top ten holdings are 42% of the fund across 49 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +19.6% with distributions reinvested against +47.8% for its benchmark, the Morningstar Global Artificial Intelligence Select Index, so a holder was behind by 28.2 pts. It sits 19.6% below its all-time high of Jun 22, 2026.

Questions people ask

Do AIRR and BAI hold the same stocks?: By their latest filings, 0% 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, AIRR or BAI?: AIRR has 15% of its weight in S&P 500 names and BAI has 55%, so AIRR differs more from the index.
Which is cheaper, AIRR or BAI?: AIRR charges 0.69% a year and BAI charges 0.55%, so BAI is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIRR vs ARTY AIRR vs AIQ AIRR vs CIBR AIRR vs DRAM BAI vs IDEF BAI vs BOTZ BAI vs ARKG BAI vs GDXJ

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AIRR on its own →BAI on its own →AIRR dividend history →AIRR holdings →BAI dividend history →BAI holdings →Method →Standards and sources →

Sources and dates

AIRR filings on SEC EDGAR ↗

AIRR prospectus with the expense ratio (SEC) ↗

First Trust page for AIRR ↗

BAI filings on SEC EDGAR ↗

BAI prospectus with the expense ratio (SEC) ↗

iShares page for BAI ↗

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

How this is computed

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, AIRR against BAI, data as of Oct 28, 2026. https://etfiq.com/compare/themes/airr-vs-bai

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