IQ

Data as of Nov 12, 2026.

Share
Share on XDownload as PDF
vsOpen in the appCompare their flowsaskIQ about these two fundsAsk the committee about these two funds

ALAI vs LUMA: Holdings Overlap & Returns

Return, fees and overlap, side by side.

Return gap
+16.8 pts
3 months to Nov 12, 2026: ALAI ahead, total return
Fee gap
0.42 pts
A year: ALAI 0.58%, LUMA 1.00%, per filings dated Apr 28, 2026 and Jul 8, 2026
Overlap
1%
Share of the two books held in common, holdings dated Jun 30, 2026 and Nov 11, 2026
Net flow
–
Needs daily flows for both funds

Pair scorecard

ALAI costs 0.42 points a year less.

Points (pts) are percentage points.

ALAI vs LUMA: Holdings Overlap & Returns
MeasureALAILUMA
Return
Total return, 1 year+11.1%not published
Drawdown
Below its all-time high15.7%, high on Oct 6, 202633.8%, high on Oct 6, 2026
Against its benchmark
What it tracksArtificial intelligenceAI infrastructure and chips
Against the S&P 500, 1 yearbehind by 1.0 pts
Its benchmark, total return, 1 year+12.1%
Against its benchmark, 1 yearbehind by 1.0 pts
Cost and size
Expense ratio0.58%1.00%
Net assets, ALAI as of Jun 30, 2026 and LUMA as of Nov 11, 2026$451m$10m
Holdings
Holdings in common1%

Method

Key numbers
60.0%
ALAI in the S&P 500
19.4%
LUMA in the S&P 500
+11.1%
ALAI total return, 1 year
−23.5%
LUMA total return, since launch, Jul 15, 2026
ALAI · 1 year to Nov 12, 2026 40% of its weight is outside the S&P 500
40% of its weight is outside the S&P 50060% of ALAI's weight is in S&P 500 companies and 40% is outside the index. Holdings as of Jun 30, 2026.60%40%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 65% · top ten 52% of the fund · 79 holdings as filed for Jun 30, 2026 · Nasdaq-100: 63% in40% of its weight is outside the S&P 50060% of ALAI's weight is in S&P 500 companies and 40% is outside the index. Holdings as of Jun 30, 2026.60%40%in the S&P 500outsideactive share 65% · Nasdaq-100: 63% in

60% of ALAI's weight is in S&P 500 companies and 40% is outside the index. Holdings as of Jun 30, 2026.

LUMA · 3 months to Nov 12, 2026 81% of its weight is outside the S&P 500
81% of its weight is outside the S&P 50019% of LUMA's weight is in S&P 500 companies and 81% is outside the index. Holdings as of Nov 11, 2026.19%81%in the S&P 500of its weight outside the S&P 500active share 99% · top ten 55% of the fund · 27 holdings as published by its issuer for Nov 11, 2026 · Nasdaq-100: 9% in81% of its weight is outside the S&P 50019% of LUMA's weight is in S&P 500 companies and 81% is outside the index. Holdings as of Nov 11, 2026.19%81%inoutside the S&P 500active share 99% · Nasdaq-100: 9% in

19% of LUMA's weight is in S&P 500 companies and 81% is outside the index. Holdings as of Nov 11, 2026.

What they share

1%

By the books each fund has filed, ALAI and LUMA hold 1% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 11, 2026.

0 half 100%

half

1% in common

Positions both hold · largest shared weight first ALAI LUMA
LUMENTUM HOLDINGS INC 0.75% 4.74%
NOKIA OYJ (NOKIA CORP) 0.08% 4.00%
Only in one fund ↓
Only in ALAI
NVIDIA CORP 12.25%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD 5.96%
AMAZON.COM INC 5.37%
MICROSOFT CORP 4.78%
ALPHABET INC 4.73%
WESTERN DIGITAL CORP 4.34%
NEBIUS GROUP NV 4.12%
META PLATFORMS INC 3.85%
Only in LUMA
AYAR LABS INC 9.61%
COHERENT CORP 5.72%
MACOM TECHNOLOGY SOLUTIONS H 5.72%
AIXTRON SE 5.65%
LAND MARK OPTOELECTRONICS 5.31%
EOPTOLINK TECHNOLOGY INC L-A 4.71%
TOWER SEMICONDUCTOR LTD 4.61%
ZHONGJI INNOLIGHT CO LTD-A 4.45%
Check overlap with more funds →

Window by window

Window by window: ALAI vs LUMA: Holdings Overlap & Returns
Total returnvs its benchmark
WindowALAILUMAALAILUMA
3 months−12.2%−29.0%−9.8 pts vs VOO−20.7 pts vs EEM
6 months−6.8%–−8.6 pts vs VOO–
1 year+11.1%–−1.0 pts vs VOO–
Since launchNot the same days: ALAI Apr 2024 · LUMA Jul 2026+105.9%−23.5%+55.3 pts vs VOO−16.7 pts vs EEM

– means no data for this window. Open this comparison in the app →

Side by side

ALAI Alger AI Enablers & Adopters ETF · Holds 79 stocks in artificial intelligence, 60% of its weight in S&P 500 companies LUMA KraneShares Photonic and Optical ETF · Holds 27 stocks in aI infrastructure and chips, 19% of its weight in S&P 500 companies
Issuer Alger KraneShares
Theme Artificial intelligence AI infrastructure and chips
In the S&P 500 60.0% 19.4%
Active share vs the S&P 500 65.2% 99.0%
In the Nasdaq-100 62.8% 8.6%
Holdings 79 27
Top ten, share of the fund 52.3% 54.7%
Expense ratio 0.58% 1.00%
Fee for the differing part 0.89% 1.01%
Total return, 1 year +11.1% −23.5% (since launch, Jul 15, 2026)
vs its benchmark −1.0 pts vs VOO −16.7 pts vs EEM (since launch, Jul 15, 2026)
Below its high −15.7% −33.8%
Net assets, ALAI as of Jun 30, 2026 and LUMA as of Nov 11, 2026 $451m $10m

As of Nov 12, 2026. Source: ETFIQ.

1% of the two portfolios are the same securities at the same weight.

Alert

LUMA flows, by email on Sundays.

One-click unsubscribe. See Privacy.

About each fund
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 12, 2026 the fund returned +11.1% with distributions reinvested against +12.1% for its benchmark, the S&P 500 Index, so a holder was behind by 1.0 pts. It sits 15.7% below its all-time high of Oct 6, 2026.

LUMA

By weight, 19% of LUMA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 55% of the fund across 27 positions, as published by its issuer for Nov 11, 2026. Since it first traded on Jul 15, 2026 the fund returned −23.5% with distributions reinvested. It sits 33.8% below its all-time high of Oct 6, 2026.

Questions people ask

Do ALAI and LUMA hold the same stocks?
By their latest filings, 1% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, ALAI or LUMA?
ALAI has 60% of its weight in S&P 500 names and LUMA has 19%, so LUMA differs more from the index.
Which is cheaper, ALAI or LUMA?
ALAI charges 0.58% a year and LUMA charges 1.00%, so ALAI is cheaper. Fees come from each fund's prospectus.
Other comparisons
ALAI vs IVEPALAI vs COOLALAI vs CGPTALAI vs AIHYLUMA vs THNQLUMA vs WTAILUMA vs ROBTLUMA vs IVES
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →ALAI on its own →LUMA on its own →ALAI dividend history →ALAI holdings →LUMA holdings →Method →Standards and sources →
Sources and dates
ALAI filings on SEC EDGAR ↗
ALAI prospectus with the expense ratio (SEC) ↗
Alger website ↗
LUMA filings on SEC EDGAR ↗
LUMA prospectus with the expense ratio (SEC) ↗
KraneShares page for LUMA ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, ALAI against LUMA, data as of Nov 12, 2026. https://etfiq.com/compare/themes/alai-vs-luma

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.

ALAI and LUMA hold 1% of their weight in the same names.

ALAI on its own →LUMA on its own →
Growth of 100

ALAI and LUMA

Total return, distributions reinvested, 3 months.

ALAI −12.2%LUMA −29.0%
Aug 13, 2026Nov 12, 2026

ALAI −12.2%, LUMA −29.0%: ALAI +16.8 pts ahead, 3 months, Aug 13, 2026 to Nov 12, 2026.