Data as of Oct 28, 2026.
AIRR vs IGV: Holdings Overlap & Returns
Over the year to Oct 28, 2026, AIRR returned −0.2% to IGV's −4.1%; 0% 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 $14.4bn for iShares Expanded Tech-Software Sector ETF.
15% of AIRR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Oct 27, 2026.
80% of IGV's weight is in S&P 500 companies and 20% is outside the index. Holdings as of Oct 27, 2026.
Pair scorecard
IGV costs 0.31 points a year less; their one-year returns differ by 3.9 points; IGV is 1.7 times larger.
Points (pts) are percentage points.
| Measure | AIRR | IGV |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.2% | −4.1% |
| Drawdown | ||
| Below its all-time high | 25.5%, high on Jun 22, 2026 | |
| Against its benchmark | ||
| What it tracks | Reshoring and manufacturing | Cloud and software |
| Against the S&P 500, 1 year | behind by 13.9 pts | |
| Its benchmark, total return, 1 year | +13.7% | |
| Against its benchmark, 1 year | behind by 13.9 pts | |
| Cost and size | ||
| Expense ratio | 0.69% | 0.38% |
| Net assets, as of Oct 27, 2026 | $8.4bn | $14.4bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Mar 21, 2014 to Oct 23, 2026 · 657 weekly returnsIGV returned more: +571.8% to +394.7%. IGV swung slightly less: 24.2% to 25.2%. AIRR fell less at its worst: −40.6% to −45.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | AIRR | IGV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +394.7% | +571.8% | IGV | Price change plus distributions, reinvested. |
| Annualized | +13.5% | +16.3% | IGV | Total return as a yearly rate. |
| Price return | +380.7% | +556.2% | IGV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 25.2% | 24.2% | IGV (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.7% | 16.2% | IGV (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.6% | −45.4% | AIRR | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.55 | 0.66 | IGV | Return above Treasury bills per unit of volatility. |
| Sortino | 0.83 | 0.99 | IGV | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.33 | 0.36 | IGV (slight) | Annualized return divided by the max drawdown. |
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 IGV hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | AIRR | IGV | AIRR | IGV |
| 3 months | −10.0% | +21.2% | −16.1 pts vs VOO | not measured |
| 6 months | −18.4% | +32.5% | −27.5 pts vs VOO | not measured |
| 1 year | −0.2% | −4.1% | −13.9 pts vs VOO | not measured |
| 3 years | +112.5% | +70.0% | +17.0 pts vs VOO | not measured |
| Since launchNot the same days: AIRR Mar 2014 · IGV Jul 2001 | +418.8% | +1,015.0% | +4.1 pts vs VOO | not measured |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
AIRR and IGV are built for the same job. How do they differ in cost, holdings and results?
- Theme. AIRR covers Reshoring and manufacturing and IGV covers Cloud and software.
- Concentration. The top ten holdings are 33.2% of AIRR and 60.7% of IGV, a gap of 27.5 points.
- What each follows. AIRR follows Reshoring and manufacturing and IGV follows Cloud and software.
Data as of Oct 28, 2026.
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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.
IGV
By weight, 80% of IGV'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 61% of the fund across 108 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −4.1% with distributions reinvested.
Questions people ask
- Do AIRR and IGV 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.
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.
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ETFIQ, AIRR against IGV, data as of Oct 28, 2026. https://etfiq.com/compare/themes/airr-vs-igv
ETFIQ. (Oct 28, 2026). AIRR against IGV. Retrieved from https://etfiq.com/compare/themes/airr-vs-igv
[AIRR against IGV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/airr-vs-igv)
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