Do ARKW and FDN hold the same stocks?

By their latest filings, 23% 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, ARKW or FDN?

ARKW has 53% of its weight in S&P 500 names and FDN has 83%, so FDN differs more from the index.

Which is cheaper, ARKW or FDN?

ARKW charges 0.76% a year and FDN charges 0.49%, so FDN is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

ARKW vs FDN: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, ARKW returned −10.3% to FDN's −1.6%; 23% of their weight is in the same names.

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Net assets: $1.6bn on Jul 31, 2026 for ARK Next Generation Internet ETF, and $4.8bn on Nov 3, 2026 for First Trust Dow Jones Internet Index Fund.

ARKW on its own →FDN on its own →

At a glance

53.1%

ARKW in the S&P 500

83.1%

FDN in the S&P 500

−10.3%

ARKW total return, 1 year

−1.6%

FDN total return, 1 year

ARKW · 1 year to Nov 4, 2026 47% of its weight is outside the S&P 500

53% of ARKW's weight is in S&P 500 companies and 47% is outside the index. Holdings as of Jul 31, 2026.

FDN · 1 year to Nov 4, 2026 17% of its weight is outside the S&P 500

83% of FDN's weight is in S&P 500 companies and 17% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

FDN costs 0.27 points a year less; their one-year returns differ by 8.7 points.

Points (pts) are percentage points.

ARKW vs FDN: Holdings Overlap & Returns
Measure	ARKW	FDN
Return
Measure	ARKW	FDN
Total return, 1 year	−10.3%	−1.6%
Drawdown
Measure	ARKW	FDN
Below its all-time high	20.2%, high on Feb 12, 2021	9.5%, high on Oct 9, 2026
Against its benchmark
Measure	ARKW	FDN
What it tracks	Internet and e-commerce	Internet and e-commerce
Against the S&P 500, 1 year	behind by 25.1 pts	behind by 16.4 pts
Its benchmark, total return, 1 year	+14.8%	+14.8%
Against its benchmark, 1 year	behind by 25.1 pts	behind by 16.4 pts
Cost and size
Measure	ARKW	FDN
Expense ratio	0.76%	0.49%
Net assets, ARKW as of Jul 31, 2026 and FDN as of Nov 3, 2026	$1.6bn	$4.8bn
Active share vs the S&P 500	82%	86%
Holdings
Measure	ARKW	FDN
Holdings in common	23%

ETFIQ S&P 500 Difference Score · FDN scores higher How much of its weight does it not share with the S&P 500?

IQ Themes Score41.7ARKW50.4FDN

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

ARKW 41.7

FDN 50.4

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

Risk and return

Oct 10, 2014 to Oct 30, 2026 · 629 weekly returns

ARKW FDN

Return

Total return edge ARKW +844.0% +363.7%

Annualized edge ARKW +20.4% +13.5%

Price return edge ARKW +675.9% +363.7%

Risk

Volatility edge FDN 34.7% 23.8%

Max drawdown edge FDN −79.8% −53.4%

Downside capture 134.1% 113.4%

Beta 1.58 1.15

Risk-adjusted

Sharpe edge ARKW 0.65 0.56

Sortino edge ARKW 0.98 0.84

Treynor 0.142 0.119

Calmar edge Tie 0.26 0.25

Against the benchmark

Alpha +2.9% a year +1.6% a year

Alpha t-stat 0.44 0.55

Information ratio 0.41 0.24

Tracking error 24.9% 13.2%

Each against its own benchmark: ARKW against VOO, Oct 10, 2014 to Oct 30, 2026; FDN against IVV, Jun 30, 2006 to Oct 30, 2026.

Reading

From Oct 2014 to Oct 2026, ARKW returned more: +844.0% to +363.7%. FDN swung less: 23.8% to 34.7%. FDN fell less at its worst: −53.4% to −79.8%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: ARKW vs FDN: Holdings Overlap & Returns
Measure	ARKW	FDN	Edge	How it is measured
Return
Total return	+844.0%	+363.7%	ARKW	Price change plus distributions, reinvested.
Annualized	+20.4%	+13.5%	ARKW	Total return as a yearly rate.
Price return	+675.9%	+363.7%	ARKW	Price change alone, distributions left out.
Risk
Volatility	34.7%	23.8%	FDN	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	22.8%	16.0%	FDN	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−79.8%	−53.4%	FDN	Deepest fall from a high to the low after it.
Upside capture	227.3%	138.3%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	134.1%	113.4%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.58	1.15	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.56	0.71	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.65	0.56	ARKW	Return above Treasury bills per unit of volatility.
Sortino	0.98	0.84	ARKW	Return above Treasury bills per unit of downside deviation.
Treynor	0.142	0.119		Return above Treasury bills per unit of beta.
Calmar	0.26	0.25	Tie	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	VOO	IVV		The ETF each fund is measured against.
Alpha	+2.9% a year	+1.6% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.44	0.55	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−10.1% to +16.0%	−4.0% to +7.2%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.41	0.24		Return against its benchmark per unit of tracking error.
Tracking error	24.9%	13.2%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 629 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

23%

By the books each fund has filed, ARKW and FDN hold 23% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

23% in common

Positions both hold · largest shared weight first ARKW FDN

AMAZON.COM INC 4.44% 10.74%

ALPHABET INC 4.07% 4.08%

META PLATFORMS INC 2.83% 10.27%

DATADOG INC 2.62% 2.73%

CLOUDFLARE INC 2.13% 3.24%

SNOWFLAKE INC 1.29% 3.77%

NETFLIX INC 1.19% 5.67%

DOORDASH INC 1.15% 2.54%

ROBLOX CORP 2.29% 1.12%

COREWEAVE INC 3.20% 0.76%

AIRBNB INC 0.60% 2.58%

CIRCLE INTERNET GROUP INC 3.60% 0.56%

Only in one fund ↓

Only in ARKW

TESLA INC 7.48%

ADVANCED MICRO DEVICES INC 7.44%

ARK 21SHARES BITCOIN ETF 4.90%

ROBINHOOD MARKETS INC 4.56%

SHOPIFY INC 4.46%

BLOCK INC 3.61%

COINBASE GLOBAL INC 3.43%

SPACE EXPLORATION TECHNOLOGIES CORP 3.35%

Only in FDN

Cisco Systems, Inc. 8.86%

Salesforce, Inc. 4.43%

Booking Holdings Inc. 4.32%

Arista Networks, Inc. 4.28%

Oracle Corporation 3.80%

Carvana Co. (Class A) 1.89%

PayPal Holdings, Inc. 1.83%

eBay Inc. 1.74%

Check overlap with more funds →

Window by window

Window by window: ARKW vs FDN: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	ARKW	FDN	ARKW	FDN
3 months	+1.2%	−5.1%	+1.3 pts vs VOO	−5.0 pts vs IVV
6 months	+0.7%	+2.2%	−4.3 pts vs VOO	−2.8 pts vs IVV
1 year	−10.3%	−1.6%	−25.1 pts vs VOO	−16.4 pts vs IVV
3 years	+156.8%	+71.5%	+73.5 pts vs VOO	−11.9 pts vs IVV
Since launchNot the same days: ARKW Sep 2014 · FDN Jun 2006	+794.7%	+1,234.4%	+416.2 pts vs VOO	not measured

Open this comparison in the app →

Side by side

ARKW ARK Next Generation Internet ETF · Holds 43 stocks in internet and e-commerce, 53% of its weight in S&P 500 companies FDN First Trust Dow Jones Internet Index Fund · Holds 41 stocks in internet and e-commerce, 83% of its weight in S&P 500 companies

Issuer ARK First Trust

Theme Internet and e-commerce Internet and e-commerce

In the S&P 500 53.1% 83.1%

Active share vs the S&P 500 82.5% 85.5%

In the Nasdaq-100 53.5% 61.9%

Holdings 43 41

Top ten, share of the fund 48.0% 61.5%

Expense ratio 0.76% 0.49%

Fee for the differing part 0.92% 0.57%

Total return, 1 year −10.3% −1.6%

vs its benchmark −25.1 pts vs VOO −16.4 pts vs IVV

Below its high −20.2% −9.5%

Net assets, ARKW as of Jul 31, 2026 and FDN as of Nov 3, 2026 $1.6bn $4.8bn

As of Nov 4, 2026. Source: ETFIQ.

23% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

ARKW

By weight, 53% of ARKW's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 82%. The top ten holdings are 48% of the fund across 43 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned −10.3% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 25.1 pts. It sits 20.2% below its all-time high of Feb 12, 2021.

FDN

By weight, 83% of FDN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 86%. The top ten holdings are 62% of the fund across 41 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −1.6% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 16.4 pts. It sits 9.5% below its all-time high of Oct 9, 2026.

Questions people ask

Do ARKW and FDN hold the same stocks?: By their latest filings, 23% 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, ARKW or FDN?: ARKW has 53% of its weight in S&P 500 names and FDN has 83%, so FDN differs more from the index.
Which is cheaper, ARKW or FDN?: ARKW charges 0.76% a year and FDN charges 0.49%, so FDN is cheaper. Fees come from each fund's prospectus.

Other comparisons

ARKW vs EMQQ ARKW vs ISHP ARKW vs KWEB ARKW vs PNQI FDN vs PNQI FDN vs IBUY FDN vs OGIG FDN vs SOCL

Where to next

ARKW on its own →FDN on its own →ARKW dividend history →ARKW holdings →FDN holdings →Method →Standards and sources →

Sources and dates

ARKW filings on SEC EDGAR ↗

ARKW prospectus with the expense ratio (SEC) ↗

ARK page for ARKW ↗

FDN filings on SEC EDGAR ↗

FDN prospectus with the expense ratio (SEC) ↗

First Trust page for FDN ↗

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, ARKW against FDN, data as of Nov 4, 2026. https://etfiq.com/compare/themes/arkw-vs-fdn

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