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Data as of Nov 4, 2026.

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Thematic ETFs

AOTG vs FRWD: Holdings Overlap & Returns

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AOTG and FRWD hold 43% of their weight in the same names.

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Net assets: $105m on Aug 31, 2026 for AOT Growth and Innovation ETF, and $285m on Jun 30, 2026 for Nomura Transformational Technologies ETF.

AOTG on its own →FRWD on its own →
At a glance
74.4%
AOTG in the S&P 500
69.9%
FRWD in the S&P 500
+3.2%
AOTG total return, 1 year
+15.0%
FRWD total return, since launch, Jan 13, 2026
AOTG · 1 year to Nov 4, 2026 26% of its weight is outside the S&P 500
26% of its weight is outside the S&P 50074% of AOTG's weight is in S&P 500 companies and 26% is outside the index. Holdings as of Aug 31, 2026.74%26%of its weight in S&P 500 companiesoutside the S&P 500active share 69% · top ten 65% of the fund · 43 holdings as filed for Aug 31, 2026 · Nasdaq-100: 66% in26% of its weight is outside the S&P 50074% of AOTG's weight is in S&P 500 companies and 26% is outside the index. Holdings as of Aug 31, 2026.74%26%in the S&P 500outsideactive share 69% · Nasdaq-100: 66% in

74% of AOTG's weight is in S&P 500 companies and 26% is outside the index. Holdings as of Aug 31, 2026.

FRWD · 6 months to Nov 4, 2026 30% of its weight is outside the S&P 500
30% of its weight is outside the S&P 50070% of FRWD's weight is in S&P 500 companies and 30% is outside the index. Holdings as of Jun 30, 2026.70%30%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 74% · top ten 61% of the fund · 25 holdings as filed for Jun 30, 2026 · Nasdaq-100: 80% in30% of its weight is outside the S&P 50070% of FRWD's weight is in S&P 500 companies and 30% is outside the index. Holdings as of Jun 30, 2026.70%30%in the S&P 500outsideactive share 74% · Nasdaq-100: 80% in

70% of FRWD's weight is in S&P 500 companies and 30% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

FRWD costs 0.10 points a year less.

Points (pts) are percentage points.

AOTG vs FRWD: Holdings Overlap & Returns
MeasureAOTGFRWD
Return
Total return, 1 year+3.2%not published
Drawdown
Below its all-time high14.7%, high on Oct 7, 202616.9%, high on Jun 18, 2026
Against its benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Its benchmark, total return, 1 year+14.4%
Against its benchmark, 1 yearbehind by 11.2 pts
Cost and size
Expense ratio0.75%0.65%
Net assets, AOTG as of Aug 31, 2026 and FRWD as of Jun 30, 2026$105m$285m
Holdings
Holdings in common43%
Top ten holdings, share of the fund64%61%
ETFIQ S&P 500 Difference Score · FRWD scores higher How much of its weight does it not share with the S&P 500?
IQ Themes Score14.5AOTG21.9FRWD

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

0.4, the lowest in this set 99.6, the highest

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 →

Method

What they share

43%

By the books each fund has filed, AOTG and FRWD hold 43% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

0 half 100%

half

43% in common

Positions both hold · largest shared weight first AOTG FRWD
NVIDIA Corp 10.94% 8.09%
Advanced Micro Devices Inc 12.32% 7.80%
Taiwan Semiconductor Manufacturing Co Ltd 6.72% 6.30%
Micron Technology Inc 10.16% 5.14%
Alphabet Inc 3.92% 3.20%
Amazon.com Inc 4.22% 2.81%
Microsoft Corp 4.49% 2.81%
Shopify Inc 2.47% 1.94%
MercadoLibre Inc 1.59% 2.31%
Broadcom Inc 1.39% 4.65%
ServiceNow Inc 0.92% 1.74%
Netflix Inc 0.61% 3.27%
Only in one fund ↓
Only in AOTG
Toast Inc 4.61%
Salesforce Inc 3.73%
Sandisk Corp 3.41%
Alphabet Inc 3.09%
NU Holdings Ltd 2.95%
Robinhood Markets Inc 2.95%
AppLovin Corp 2.70%
Oracle Corp 2.16%
Only in FRWD
Seagate Technology Holdings plc 7.74%
Lam Research Corp. 6.64%
ASML Holding NV 5.07%
Samsung Electronics Co. Ltd. 4.14%
Texas Instruments, Inc. 3.77%
DoorDash, Inc. 3.29%
Celestica, Inc. 2.68%
Space Exploration Technologies Corp. 2.49%
Check overlap with more funds →

Window by window

Window by window: AOTG vs FRWD: Holdings Overlap & Returns
Total returnvs its benchmark
WindowAOTGFRWDAOTGFRWD
3 months−7.6%−10.7%−7.1 pts vs GUSAnot measured
6 months−1.1%−5.2%−5.8 pts vs GUSAnot measured
1 year+3.2%–−11.2 pts vs GUSA–
3 years+101.5%–+19.6 pts vs GUSA–
Since launchNot the same days: AOTG Jun 2022 · FRWD Jan 2026+139.7%+15.0%+29.2 pts vs GUSAnot measured

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

Side by side

AOTG AOT Growth and Innovation ETF · Holds 43 stocks in broad innovation and megatrends, 74% of its weight in S&P 500 companies FRWD Nomura Transformational Technologies ETF · Holds 25 stocks in broad innovation and megatrends, 70% of its weight in S&P 500 companies
Issuer AOT Invest Nomura
Theme Broad innovation and megatrends Broad innovation and megatrends
In the S&P 500 74.4% 69.9%
Active share vs the S&P 500 69.3% 74.4%
In the Nasdaq-100 65.6% 79.9%
Holdings 43 25
Top ten, share of the fund 64.5% 60.6%
Expense ratio 0.75% 0.65%
Fee for the differing part 1.08% 0.87%
Total return, 1 year +3.2% +15.0% (since launch, Jan 13, 2026)
vs its benchmark −11.2 pts vs GUSA not measured
Below its high −14.7% −16.9%
Net assets, AOTG as of Aug 31, 2026 and FRWD as of Jun 30, 2026 $105m $285m

As of Nov 4, 2026. Source: ETFIQ.

43% of the two portfolios are the same securities at the same weight.

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About each fund
AOTG

Over the year to Nov 4, 2026 the fund returned +3.2% with distributions reinvested against +14.4% for its benchmark, the Solactive GBS United States 1000 Index, so a holder was behind by 11.2 pts.

By weight, 74% of AOTG's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 69%. The top ten holdings are 64% of the fund across 43 positions, as filed for Aug 31, 2026. It sits 14.7% below its all-time high of Oct 7, 2026.

FRWD

By weight, 70% of FRWD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 74%. The top ten holdings are 61% of the fund across 25 positions, as filed for Jun 30, 2026. Since it first traded on Jan 13, 2026 the fund returned +15.0% with distributions reinvested. It sits 16.9% below its all-time high of Jun 18, 2026.

Questions people ask

Do AOTG and FRWD 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.
Which is more different from the S&P 500, AOTG or FRWD?
AOTG has 74% of its weight in S&P 500 names and FRWD has 70%, so FRWD differs more from the index.
Which is cheaper, AOTG or FRWD?
AOTG charges 0.75% a year and FRWD charges 0.65%, so FRWD is cheaper. Fees come from each fund's prospectus.
Other comparisons
AOTG vs ILDRAOTG vs FITEAOTG vs QQQJAOTG vs FMEDFRWD vs FDCFFRWD vs LFSCFRWD vs DTECFRWD vs FITE
Where to next
AOTG on its own →FRWD on its own →AOTG holdings →FRWD holdings →Method →Standards and sources →
Sources and dates
AOTG filings on SEC EDGAR ↗
AOTG prospectus with the expense ratio (SEC) ↗
AOT Invest page for AOTG ↗
FRWD filings on SEC EDGAR ↗
FRWD prospectus with the expense ratio (SEC) ↗
Nomura website ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, AOTG against FRWD, data as of Nov 4, 2026. https://etfiq.com/compare/themes/aotg-vs-frwd

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