Data as of Oct 28, 2026.
AIRR vs KWEB: Holdings Overlap & Returns
Over the year to Oct 28, 2026, AIRR returned −0.2% to KWEB's −40.6%; 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 $4.3bn on Oct 28, 2026 for KraneShares CSI China Internet ETF.
15% of AIRR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Oct 27, 2026.
0% of KWEB's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 28, 2026.
Pair scorecard
Both cost 0.69% a year; their one-year returns differ by 40.4 points; AIRR is 2.0 times larger.
Points (pts) are percentage points.
| Measure | AIRR | KWEB |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.2% | −40.6% |
| Drawdown | ||
| Below its all-time high | 25.5%, high on Jun 22, 2026 | 73.4%, high on Feb 17, 2021 |
| Against its benchmark | ||
| What it tracks | Reshoring and manufacturing | Internet and e-commerce |
| 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% | 0.69% |
| Net assets, as of Oct 27, 2026 | $8.4bn | $4.3bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Mar 21, 2014 to Oct 23, 2026 · 657 weekly returnsAIRR returned more: +394.7% to −20.2%. AIRR swung less: 25.2% to 35.5%. AIRR fell less at its worst: −40.6% to −79.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | AIRR | KWEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +394.7% | −20.2% | AIRR | Price change plus distributions, reinvested. |
| Annualized | +13.5% | −1.8% | AIRR | Total return as a yearly rate. |
| Price return | +380.7% | −37.8% | AIRR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 25.2% | 35.5% | AIRR | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.7% | 23.7% | AIRR | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.6% | −79.9% | AIRR | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.55 | 0.07 | AIRR | Return above Treasury bills per unit of volatility. |
| Sortino | 0.83 | 0.10 | AIRR | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.33 | −0.02 | AIRR | 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 KWEB hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | AIRR | KWEB | AIRR | KWEB |
| 3 months | −10.0% | −17.3% | −16.1 pts vs VOO | not measured |
| 6 months | −18.4% | −17.9% | −27.5 pts vs VOO | not measured |
| 1 year | −0.2% | −40.6% | −13.9 pts vs VOO | not measured |
| 3 years | +112.5% | −3.2% | +17.0 pts vs VOO | not measured |
| Since launchNot the same days: AIRR Mar 2014 · KWEB Aug 2013 | +418.8% | +12.7% | +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 KWEB are built for the same job. How do they differ in cost, holdings and results?
- Theme. AIRR covers Reshoring and manufacturing and KWEB covers Internet and e-commerce.
- Concentration. The top ten holdings are 33.2% of AIRR and 61.5% of KWEB, a gap of 28.3 points.
- What each follows. AIRR follows Reshoring and manufacturing and KWEB follows Internet and e-commerce.
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.
KWEB
By weight, 0% of KWEB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 45 positions, as published by its issuer for Oct 28, 2026. Over the year to Oct 28, 2026 the fund returned −40.6% with distributions reinvested. It sits 73.4% below its all-time high of Feb 17, 2021.
Questions people ask
- Do AIRR and KWEB 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 KWEB, data as of Oct 28, 2026. https://etfiq.com/compare/themes/airr-vs-kweb
ETFIQ. (Oct 28, 2026). AIRR against KWEB. Retrieved from https://etfiq.com/compare/themes/airr-vs-kweb
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