Data as of Nov 4, 2026.
ALAI vs FAI: Holdings Overlap & Returns
Over the year to Nov 4, 2026, ALAI returned +9.9% to FAI's +19.9%; 43% of their weight is in the same names.
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Net assets: $451m on Jun 30, 2026 for Alger AI Enablers & Adopters ETF, and $245m on Nov 3, 2026 for First Trust Bloomberg Artificial Intelligence ETF.
60% of ALAI's weight is in S&P 500 companies and 40% is outside the index. Holdings as of Jun 30, 2026.
77% of FAI's weight is in S&P 500 companies and 24% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
ALAI costs 0.07 points a year less; their one-year returns differ by 10.0 points.
Points (pts) are percentage points.
| Measure | ALAI | FAI |
|---|---|---|
| Return | ||
| Total return, 1 year | +9.9% | +19.9% |
| Drawdown | ||
| Below its all-time high | 15.2%, high on Oct 6, 2026 | 14.0%, high on Oct 6, 2026 |
| Against its benchmark | ||
| What it tracks | Artificial intelligence | Artificial intelligence |
| Against the S&P 500, 1 year | behind by 4.9 pts | ahead by 5.1 pts |
| Its benchmark, total return, 1 year | +14.8% | +14.8% |
| Against its benchmark, 1 year | behind by 4.9 pts | ahead by 5.1 pts |
| Cost and size | ||
| Expense ratio | 0.58% | 0.65% |
| Net assets, ALAI as of Jun 30, 2026 and FAI as of Nov 3, 2026 | $451m | $245m |
| Holdings | ||
| Holdings in common | 43% | |
How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed
Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →
Risk and return
Nov 29, 2024 to Oct 30, 2026 · 100 weekly returns · each against VOOFrom Nov 2024 to Oct 2026, FAI returned more: +68.5% to +60.7%. ALAI swung slightly less: 27.8% to 28.5%. FAI fell slightly less at its worst: −26.7% to −29.4%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | ALAI | FAI | VOO | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +60.7% | +68.5% | FAI | Price change plus distributions, reinvested. | |
| Annualized | +28.0% | +31.2% | FAI | Total return as a yearly rate. | |
| Price return | +57.2% | +68.4% | FAI | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 27.8% | 28.5% | ALAI (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 17.9% | 18.0% | Tie | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −29.4% | −26.7% | FAI (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 264.7% | 290.5% | 100.0% | FAI (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 139.3% | 141.1% | 100.0% | Tie | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.63 | 1.68 | 1.00 | ALAI lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.74 | 0.75 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.88 | 0.95 | FAI (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.37 | 1.51 | FAI (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.151 | 0.162 | 0.102 | FAI (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.95 | 1.17 | FAI | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | VOO | VOO | VOO | The ETF each fund is measured against. | |
| Alpha | +8.0% a year | +10.1% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.78 | 0.97 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −12.4% to +28.4% | −10.6% to +30.8% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.85 | 0.98 | FAI | Return against its benchmark per unit of tracking error. | |
| Tracking error | 16.9% | 17.5% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 100 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ALAI and FAI hold 43% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.
half
43% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | ALAI | FAI | ALAI | FAI |
| 3 months | −9.3% | −5.9% | −9.2 pts vs VOO | −5.8 pts vs VOO |
| 6 months | −3.5% | +3.2% | −8.5 pts vs VOO | −1.8 pts vs VOO |
| 1 year | +9.9% | +19.9% | −4.9 pts vs VOO | +5.1 pts vs VOO |
| Since launchNot the same days: ALAI Apr 2024 · FAI Nov 2024 | +107.2% | +67.8% | +54.7 pts vs VOO | +35.5 pts vs VOO |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
43% of the two portfolios are the same securities at the same weight.
No client brief for this pair: the two funds' holdings are dated 126 days apart.
ALAI
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 52% of the fund across 79 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +9.9% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 4.9 pts. It sits 15.2% below its all-time high of Oct 6, 2026.
FAI
By weight, 76% 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 50 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +19.9% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was ahead by 5.1 pts. It sits 14.0% below its all-time high of Oct 6, 2026.
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. 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
It is a place in a set, not a rating or a recommendation.
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, ALAI against FAI, data as of Nov 4, 2026. https://etfiq.com/compare/themes/alai-vs-fai
ETFIQ. (Nov 4, 2026). ALAI against FAI. Retrieved from https://etfiq.com/compare/themes/alai-vs-fai
[ALAI against FAI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/alai-vs-fai)
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