Data as of Nov 4, 2026.
ARKW vs PNQI: Holdings Overlap & Returns
Over the year to Nov 4, 2026, ARKW returned −10.3% to PNQI's −5.8%; 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 $514m on Nov 3, 2026 for Invesco NASDAQ Internet ETF.
53% of ARKW's weight is in S&P 500 companies and 47% is outside the index. Holdings as of Jul 31, 2026.
76% of PNQI's weight is in S&P 500 companies and 24% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
PNQI costs 0.16 points a year less; their one-year returns differ by 4.5 points.
Points (pts) are percentage points.
| Measure | ARKW | PNQI |
|---|---|---|
| Return | ||
| Total return, 1 year | −10.3% | −5.8% |
| Drawdown | ||
| Below its all-time high | 20.2%, high on Feb 12, 2021 | 9.3%, high on Sep 19, 2025 |
| Against its benchmark | ||
| What it tracks | Internet and e-commerce | Internet and e-commerce |
| Against the S&P 500, 1 year | behind by 25.1 pts | |
| Its benchmark, total return, 1 year | +14.8% | |
| Against its benchmark, 1 year | behind by 25.1 pts | |
| Cost and size | ||
| Expense ratio | 0.76% | 0.60% |
| Net assets, ARKW as of Jul 31, 2026 and PNQI as of Nov 3, 2026 | $1.6bn | $514m |
| Active share vs the S&P 500 | 82% | 79% |
| Holdings | ||
| Holdings in common | 23% | |
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
Oct 10, 2014 to Oct 30, 2026 · 629 weekly returnsFrom Oct 2014 to Oct 2026, ARKW returned more: +844.0% to +283.6%. PNQI swung less: 23.9% to 34.7%. PNQI fell less at its worst: −58.8% to −79.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ARKW | PNQI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +844.0% | +283.6% | ARKW | Price change plus distributions, reinvested. |
| Annualized | +20.4% | +11.8% | ARKW | Total return as a yearly rate. |
| Price return | +675.9% | +283.4% | ARKW | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 34.7% | 23.9% | PNQI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 22.8% | 16.2% | PNQI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −79.8% | −58.8% | PNQI | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.65 | 0.50 | ARKW | Return above Treasury bills per unit of volatility. |
| Sortino | 0.98 | 0.73 | ARKW | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.26 | 0.20 | ARKW | Annualized return divided by the max drawdown. |
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
By the books each fund has filed, ARKW and PNQI hold 23% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.
half
23% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | ARKW | PNQI | ARKW | PNQI |
| 3 months | +1.2% | +1.8% | +1.3 pts vs VOO | not measured |
| 6 months | +0.7% | +5.4% | −4.3 pts vs VOO | not measured |
| 1 year | −10.3% | −5.8% | −25.1 pts vs VOO | not measured |
| 3 years | +156.8% | +62.5% | +73.5 pts vs VOO | not measured |
| Since launchNot the same days: ARKW Sep 2014 · PNQI Jun 2008 | +794.7% | +957.1% | +416.2 pts vs VOO | not measured |
Side by side
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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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.
PNQI
By weight, 76% of PNQI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 79%. The top ten holdings are 61% of the fund across 79 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −5.8% with distributions reinvested. It sits 9.3% below its all-time high of Sep 19, 2025.
Questions people ask
- Do ARKW and PNQI 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.
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, ARKW against PNQI, data as of Nov 4, 2026. https://etfiq.com/compare/themes/arkw-vs-pnqi
ETFIQ. (Nov 4, 2026). ARKW against PNQI. Retrieved from https://etfiq.com/compare/themes/arkw-vs-pnqi
[ARKW against PNQI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/arkw-vs-pnqi)
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