Do AIRR and GRID hold the same stocks?

By their latest filings, 1% 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 GRID?

AIRR has 15% of its weight in S&P 500 names and GRID has 41%, so AIRR differs more from the index.

Which is cheaper, AIRR or GRID?

AIRR charges 0.69% a year and GRID charges 0.56%, so GRID is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

AIRR vs GRID: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, AIRR returned −0.2% to GRID's +7.9%; 1% of their weight is in the same names.

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Net assets on Oct 27, 2026: $8.4bn for First Trust RBA American Industrial Renaissance ETF and $11.4bn for First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund.

AIRR on its own →GRID on its own →

At a glance

14.7%

AIRR in the S&P 500

41.1%

GRID in the S&P 500

−0.2%

AIRR total return, 1 year

+7.9%

GRID 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.

GRID · 1 year to Oct 28, 2026 59% of its weight is outside the S&P 500

41% of GRID's weight is in S&P 500 companies and 59% is outside the index. Holdings as of Oct 27, 2026.

Pair scorecard

GRID costs 0.13 points a year less; their one-year returns differ by 8.1 points; GRID is 1.4 times larger.

Points (pts) are percentage points.

AIRR vs GRID: Holdings Overlap & Returns
Measure	AIRR	GRID
Return
Measure	AIRR	GRID
Total return, 1 year	−0.2%	+7.9%
Drawdown
Measure	AIRR	GRID
Below its all-time high	25.5%, high on Jun 22, 2026	14.7%, high on May 11, 2026
Against its benchmark
Measure	AIRR	GRID
What it tracks	Reshoring and manufacturing	Electrification and the grid
Against the S&P 500, 1 year	behind by 13.9 pts
Its benchmark, total return, 1 year	+13.7%	+13.3%
Against its benchmark, 1 year	behind by 13.9 pts	behind by 5.4 pts
Cost and size
Measure	AIRR	GRID
Expense ratio	0.69%	0.56%
Net assets, as of Oct 27, 2026	$8.4bn	$11.4bn
Holdings
Measure	AIRR	GRID
Holdings in common	1%

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

Risk and return

Mar 21, 2014 to Oct 23, 2026 · 657 weekly returns

AIRR GRID

Return

Total return edge AIRR (slight) +394.7% +378.7%

Annualized edge AIRR (slight) +13.5% +13.2%

Price return edge AIRR +380.7% +314.6%

Risk

Volatility edge GRID 25.2% 22.0%

Max drawdown edge GRID (slight) −40.6% −39.0%

Downside capture 112.9% 110.3%

Beta 1.20 1.15

Risk-adjusted

Sharpe edge GRID (slight) 0.55 0.58

Sortino edge GRID (slight) 0.83 0.85

Treynor 0.115 0.104

Calmar edge Tie 0.33 0.34

Against the benchmark

Alpha −0.8% a year −2.7% a year

Alpha t-stat −0.19 −0.97

Information ratio 0.10 −0.06

Tracking error 16.2% 11.6%

Each against its own benchmark: AIRR against VOO, Mar 21, 2014 to Oct 23, 2026; GRID against IWV, Nov 27, 2009 to Oct 23, 2026.

Reading

AIRR returned slightly more: +394.7% to +378.7%. GRID swung less: 22.0% to 25.2%. GRID fell slightly less at its worst: −39.0% to −40.6%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: AIRR vs GRID: Holdings Overlap & Returns
Measure	AIRR	GRID	Edge	How it is measured
Return
Total return	+394.7%	+378.7%	AIRR (slight)	Price change plus distributions, reinvested.
Annualized	+13.5%	+13.2%	AIRR (slight)	Total return as a yearly rate.
Price return	+380.7%	+314.6%	AIRR	Price change alone, distributions left out.
Risk
Volatility	25.2%	22.0%	GRID	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	16.7%	15.1%	GRID	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−40.6%	−39.0%	GRID (slight)	Deepest fall from a high to the low after it.
Upside capture	125.3%	115.2%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	112.9%	110.3%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.20	1.15	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.60	0.74	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.55	0.58	GRID (slight)	Return above Treasury bills per unit of volatility.
Sortino	0.83	0.85	GRID (slight)	Return above Treasury bills per unit of downside deviation.
Treynor	0.115	0.104		Return above Treasury bills per unit of beta.
Calmar	0.33	0.34	Tie	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	VOO	IWV		The ETF each fund is measured against.
Alpha	−0.8% a year	−2.7% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.19	−0.97	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−9.7% to +8.0%	−8.1% to +2.8%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.10	−0.06		Return against its benchmark per unit of tracking error.
Tracking error	16.2%	11.6%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 657 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, AIRR and GRID hold 1% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

1% in common

Positions both hold · largest shared weight first AIRR GRID

Forgent Power Solutions, Inc. (Class A) 2.79% 0.68%

Primoris Services Corporation 1.80% 0.02%

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 GRID

Johnson Controls International Plc 9.28%

Eaton Corporation Plc 8.12%

Quanta Services, Inc. 8.10%

ABB Ltd 7.50%

Schneider Electric SE 6.71%

National Grid Plc 4.35%

E.ON SE 4.25%

Prysmian SpA 3.60%

Check overlap with more funds →

Window by window

Window by window: AIRR vs GRID: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AIRR	GRID	AIRR	GRID
3 months	−10.0%	+1.3%	−16.1 pts vs VOO	−4.2 pts vs IWV
6 months	−18.4%	−7.5%	−27.5 pts vs VOO	−16.3 pts vs IWV
1 year	−0.2%	+7.9%	−13.9 pts vs VOO	−5.4 pts vs IWV
3 years	+112.5%	+104.9%	+17.0 pts vs VOO	+12.1 pts vs IWV
Since launchNot the same days: AIRR Mar 2014 · GRID Nov 2009	+418.8%	+576.0%	+4.1 pts vs VOO	not measured

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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 GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund · Holds 122 stocks in electrification and the grid, 41% of its weight in S&P 500 companies

Issuer First Trust First Trust

Theme Reshoring and manufacturing Electrification and the grid

In the S&P 500 14.7% 41.1%

Active share vs the S&P 500 99.8% 92.3%

In the Nasdaq-100 not published 8.9%

Holdings 55 122

Top ten, share of the fund 33.2% 57.0%

Expense ratio 0.69% 0.56%

Fee for the differing part 0.69% 0.61%

Total return, 1 year −0.2% +7.9%

vs its benchmark −13.9 pts vs VOO −5.4 pts vs IWV

Below its high −25.5% −14.7%

Net assets, as of Oct 27, 2026 $8.4bn $11.4bn

As of Oct 28, 2026. Source: ETFIQ.

1% of the two portfolios are the same securities at the same weight.

Client brief · page 1 of 2 Report BR-65046E7867

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

Theme. AIRR covers Reshoring and manufacturing and GRID covers Electrification and the grid.
Concentration. The top ten holdings are 33.2% of AIRR and 57.0% of GRID, a gap of 23.8 points.
What each follows. AIRR follows Reshoring and manufacturing and GRID follows Electrification and the grid.

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.

GRID

Over the year to Oct 28, 2026 the fund returned +7.9% with distributions reinvested against +13.3% for its benchmark, the Russell 3000 Index, so a holder was behind by 5.4 pts.

By weight, 41% of GRID's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 57% of the fund across 122 positions, as published by its issuer for Oct 27, 2026. It sits 14.7% below its all-time high of May 11, 2026.

Questions people ask

Do AIRR and GRID hold the same stocks?: By their latest filings, 1% 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 GRID?: AIRR has 15% of its weight in S&P 500 names and GRID has 41%, so AIRR differs more from the index.
Which is cheaper, AIRR or GRID?: AIRR charges 0.69% a year and GRID charges 0.56%, so GRID is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIRR vs BOTZ AIRR vs NLR AIRR vs ARKG AIRR vs WELD GRID vs IDEF GRID vs BOTZ GRID vs ARKG GRID vs VOLT

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AIRR on its own →GRID on its own →AIRR dividend history →AIRR holdings →GRID dividend history →GRID 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 ↗

GRID filings on SEC EDGAR ↗

GRID prospectus with the expense ratio (SEC) ↗

First Trust page for GRID ↗

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 GRID, data as of Oct 28, 2026. https://etfiq.com/compare/themes/airr-vs-grid

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