Data as of .
AIRR vs MAKX: which is really different?
AIRR and MAKX hold 2% of their weight in the same names, and MAKX returned more over the year.
ETFIQ Off-Index Score: AIRR scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
2% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, AIRR and MAKX hold 2% of their money in the same securities at the same weight.
| Holding | AIRR | MAKX |
|---|---|---|
| Applied Industrial Technologies, Inc. | 1.71% | 3.35% |
| Only in AIRR | Only in MAKX |
|---|---|
| IES Holdings, Inc. 3.82% | 3D SYSTEMS CORP 8.20% |
| Forgent Power Solutions, Inc. (Class A) 3.52% | OUSTER INC 7.38% |
| Kratos Defense & Security Solutions, Inc. 3.37% | EMERSON ELECTRIC CO 6.26% |
| SPX Technologies 2.97% | COGNEX CORP 6.11% |
| BWX Technologies, Inc. 2.96% | SK TELECOM CO LTD-SPON ADR 6.02% |
| Owens Corning 2.90% | ROCKWELL AUTOMATION INC 5.59% |
| Sterling Infrastructure, Inc. 2.84% | AUTODESK INC 5.52% |
| Powell Industries, Inc. 2.83% | AMBIQ MICRO INC 5.21% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| AIRR | MAKX | AIRR | MAKX | AIRR | MAKX | |
| 3 months | −18.7% | −10.7% | −20.9 pts | −12.9 pts | −16.2 pts | −8.2 pts |
| 6 months | −1.1% | +26.0% | −19.1 pts | +8.0 pts | −25.3 pts | +1.8 pts |
| 1 year | +11.6% | +22.8% | −5.0 pts | +6.3 pts | −10.2 pts | +1.1 pts |
| 3 years | +102.2% | +94.2% | +23.8 pts | +15.8 pts | +4.0 pts | −4.0 pts |
| Since launch | +456.3% | +65.7% | +52.5 pts | −24.1 pts | −325.2 pts | −41.7 pts |
| AIRR First Trust RBA American Industrial Renaissance ETF Holds 58 stocks in reshoring and manufacturing, 5% of its weight in S&P 500 companies | MAKX ProShares S&P Kensho Smart Factories ETF Holds 24 stocks in reshoring and manufacturing, 37% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | First Trust | ProShares |
| Theme | Reshoring and manufacturing | Reshoring and manufacturing |
| In the S&P 500 | 5.4% | 36.7% |
| Active share vs the S&P 500 | 99.9% | 95.1% |
| In the Nasdaq-100 | 0.0% | 15.0% |
| Holdings | 58 | 24 |
| Top ten, share of the fund | 30.8% | 59.5% |
| Expense ratio | 0.69% | 0.58% |
| Fee for the differing part | 0.69% | 0.61% |
| Total return, 1 year | +11.6% | +22.8% |
| vs the S&P 500 | −5.0 pts | +6.3 pts |
| vs the Nasdaq-100 | −10.2 pts | +1.1 pts |
| Below its high | −20.1% | −12.8% |
| Net assets | $9.2bn | $5m |
AIRR in plain words
By weight, 5% of AIRR'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 31% of the fund across 58 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +11.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 5.0 pts. It sits 20.1% below its all-time high of Jun 22, 2026.
MAKX in plain words
By weight, 37% of MAKX's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 95%. The top ten holdings are 60% of the fund across 24 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +22.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 6.3 pts. It sits 12.8% below its all-time high of Jun 2, 2026.
Questions people ask
- Do AIRR and MAKX hold the same stocks?
- By their latest filings, 2% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, AIRR or MAKX?
- AIRR has 5% of its weight in S&P 500 names and MAKX has 37%, so AIRR differs more from the index.
- Which is cheaper, AIRR or MAKX?
- AIRR charges 0.69% a year and MAKX charges 0.58%, so MAKX is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AIRR against MAKX, data as of Sep 18, 2026. https://etfiq.com/compare/themes/airr-vs-makx Free to use with attribution; the underlying files are at Open data.