Data as of .
ALAI vs FAI: which is really different?
ALAI and FAI hold 43% of their weight in the same names, and FAI returned more over the year.
ETFIQ Off-Index Score: FAI 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
43% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, ALAI and FAI hold 43% of their money in the same securities at the same weight.
| Holding | ALAI | FAI |
|---|---|---|
| NVIDIA CORP | 12.01% | 8.49% |
| AMAZON.COM INC | 5.27% | 7.78% |
| MICROSOFT CORP | 4.69% | 9.42% |
| META PLATFORMS INC | 3.78% | 4.25% |
| BROADCOM INC | 3.70% | 7.39% |
| SPACE EXPLORATION TECHNOLOGIES CORP | 3.03% | 1.46% |
| MICRON TECHNOLOGY INC | 1.46% | 3.88% |
| ADVANCED MICRO DEVICES INC | 1.33% | 4.02% |
| SNOWFLAKE INC | 1.02% | 1.63% |
| NEBIUS GROUP NV | 4.04% | 0.70% |
| ASTERA LABS INC | 1.35% | 0.68% |
| DATADOG INC | 0.47% | 1.12% |
| Only in ALAI | Only in FAI |
|---|---|
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPA 5.85% | Alphabet Inc. (Class A) 7.23% |
| ALPHABET INC 4.64% | Palantir Technologies Inc. (Class A) 5.12% |
| WESTERN DIGITAL CORP 4.26% | Oracle Corporation 3.92% |
| Anthropic PBC 2.87% | Taiwan Semiconductor Manufacturing Company Ltd. 3.77% |
| APPLE INC 2.78% | ASML Holding N.V. 3.31% |
| TESLA INC 2.52% | Marvell Technology, Inc. 3.19% |
| APPLOVIN CORP 2.05% | CrowdStrike Holdings, Inc. (Class A) 1.75% |
| SEAGATE TECHNOLOGY HOLDINGS PLC 1.95% | MediaTek Inc. 1.55% |
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 Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ALAI | FAI | ALAI | FAI | ALAI | FAI | |
| 3 months | −2.2% | −0.5% | −4.4 pts | −2.7 pts | +0.3 pts | +2.0 pts |
| 6 months | +38.0% | +44.6% | +19.9 pts | +26.6 pts | +13.7 pts | +20.4 pts |
| 1 year | +25.6% | +38.0% | +9.1 pts | +21.4 pts | +3.9 pts | +16.2 pts |
| Since launch | +132.7% | +82.5% | +81.4 pts | +51.2 pts | +66.9 pts | +38.3 pts |
| ALAI Alger AI Enablers & Adopters ETF Holds 79 stocks in artificial intelligence, 60% of its weight in S&P 500 companies | FAI First Trust Bloomberg Artificial Intelligence ETF Holds 54 stocks in artificial intelligence, 77% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Alger | First Trust |
| Theme | Artificial intelligence | Artificial intelligence |
| In the S&P 500 | 60.0% | 76.9% |
| Active share vs the S&P 500 | 65.2% | 70.0% |
| In the Nasdaq-100 | 54.4% | 73.5% |
| Holdings | 79 | 54 |
| Top ten, share of the fund | 51.3% | 61.5% |
| Expense ratio | 0.58% | 0.65% |
| Fee for the differing part | 0.89% | 0.93% |
| Total return, 1 year | +25.6% | +38.0% |
| vs the S&P 500 | +9.1 pts | +21.4 pts |
| vs the Nasdaq-100 | +3.9 pts | +16.2 pts |
| Below its high | −2.2% | −4.8% |
| Net assets | $451m | $190m |
ALAI in plain words
By weight, 60% of ALAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 65%. The top ten holdings are 51% of the fund across 79 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +25.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 9.1 pts.
FAI in plain words
By weight, 77% of FAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 70%. The top ten holdings are 62% of the fund across 54 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +38.0% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 21.4 pts.
Questions people ask
- Do ALAI and FAI hold the same stocks?
- By their latest filings, 43% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, ALAI or FAI?
- ALAI has 60% of its weight in S&P 500 names and FAI has 77%, so FAI differs more from the index.
- Which is cheaper, ALAI or FAI?
- ALAI charges 0.58% a year and FAI charges 0.65%, so ALAI 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, ALAI against FAI, data as of Sep 18, 2026. https://etfiq.com/compare/themes/alai-vs-fai Free to use with attribution; the underlying files are at Open data.