Data as of Nov 4, 2026.
BAI vs FAI: Holdings Overlap & Returns
Over the year to Nov 4, 2026, BAI returned +5.2% to FAI's +19.9%; 39% of their weight is in the same names.
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Net assets on Nov 3, 2026: $11.9bn for iShares A.I. Innovation and Tech Active ETF and $245m for First Trust Bloomberg Artificial Intelligence ETF.
51% of BAI's weight is in S&P 500 companies and 49% is outside the index. Holdings as of Nov 3, 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
BAI costs 0.10 points a year less; their one-year returns differ by 14.7 points; BAI is far larger, $11.9bn against $245m.
Points (pts) are percentage points.
| Measure | BAI | FAI |
|---|---|---|
| Return | ||
| Total return, 1 year | +5.2% | +19.9% |
| Drawdown | ||
| Below its all-time high | 31.3%, high on Jun 22, 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 | ahead by 5.1 pts | |
| Its benchmark, total return, 1 year | +32.9% | +14.8% |
| Against its benchmark, 1 year | behind by 27.7 pts | ahead by 5.1 pts |
| Cost and size | ||
| Expense ratio | 0.55% | 0.65% |
| Net assets, as of Nov 3, 2026 | $11.9bn | $245m |
| Holdings | ||
| Holdings in common | 39% | |
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 returnsEach against its own benchmark: BAI against ARTY, Nov 1, 2024 to Oct 30, 2026; FAI against VOO, Nov 29, 2024 to Oct 30, 2026.
From Nov 2024 to Oct 2026, FAI returned more: +68.5% to +50.9%. FAI swung less: 28.5% to 34.0%. FAI fell less at its worst: −26.7% to −33.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | BAI | FAI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +50.9% | +68.5% | FAI | Price change plus distributions, reinvested. |
| Annualized | +23.9% | +31.2% | FAI | Total return as a yearly rate. |
| Price return | +48.2% | +68.4% | FAI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 34.0% | 28.5% | FAI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 23.5% | 18.0% | FAI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −33.3% | −26.7% | FAI | Deepest fall from a high to the low after it. |
| Upside capture | 91.9% | 290.5% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 103.4% | 141.1% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 1.68 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.89 | 0.75 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.68 | 0.95 | FAI | Return above Treasury bills per unit of volatility. |
| Sortino | 0.99 | 1.51 | FAI | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.264 | 0.162 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.72 | 1.17 | FAI | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | ARTY | VOO | The ETF each fund is measured against. | |
| Alpha | −10.4% a year | +10.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.28 | 0.97 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −26.5% to +5.7% | −10.6% to +30.8% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.96 | 0.98 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 11.3% | 17.5% | 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, BAI and FAI hold 39% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
39% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | BAI | FAI | BAI | FAI |
| 3 months | −15.8% | −5.9% | −6.6 pts vs ARTY | −5.8 pts vs VOO |
| 6 months | −19.2% | +3.2% | −16.0 pts vs ARTY | −1.8 pts vs VOO |
| 1 year | +5.2% | +19.9% | −27.7 pts vs ARTY | +5.1 pts vs VOO |
| Since launchNot the same days: BAI Oct 2024 · FAI Nov 2024 | +51.4% | +67.8% | −34.2 pts vs ARTY | +35.5 pts vs VOO |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
39% of the two portfolios are the same securities at the same weight.
Client brief:
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BAI
By weight, 51% of BAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 77%. The top ten holdings are 43% of the fund across 51 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +5.2% with distributions reinvested against +32.9% for its benchmark, the Morningstar Global Artificial Intelligence Select Index, so a holder was behind by 27.7 pts. It sits 31.3% below its all-time high of Jun 22, 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 BAI and FAI hold the same stocks?
- By their latest filings, 39% 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, BAI against FAI, data as of Nov 4, 2026. https://etfiq.com/compare/themes/bai-vs-fai
ETFIQ. (Nov 4, 2026). BAI against FAI. Retrieved from https://etfiq.com/compare/themes/bai-vs-fai
[BAI against FAI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/bai-vs-fai)
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