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CANC vs MDEV: which is really different?

CANC and MDEV hold 0% of their weight in the same names, and CANC returned +46.5% over the year. Tema Oncology ETF and First Trust Indxx Medical Devices ETF.

22.2%
CANC in the S&P 500
47.3%
MDEV in the S&P 500
+46.5%
CANC total return, 1 year
+4.1%
MDEV total return, 1 year
CANC · 1 year to Sep 30, 202678% of its weight is outside the S&P 500
78% of its weight is outside the S&P 50022% of CANC's weight is in S&P 500 companies and 78% is outside the index22%78%in the S&P 500of its weight outside the S&P 500active share 96% · top ten 40% of the fund · 58 holdings filed Sep 30, 2026 · Nasdaq-100: 2% in78% of its weight is outside the S&P 50022% of CANC's weight is in S&P 500 companies and 78% is outside the index22%78%inoutside the S&P 500active share 96% · top ten 40% of the fund

22% of CANC's weight is in S&P 500 companies and 78% is outside the index

MDEV · 1 year to Sep 30, 202653% of its weight is outside the S&P 500
53% of its weight is outside the S&P 50047% of MDEV's weight is in S&P 500 companies and 53% is outside the index47%53%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 28% of the fund · 54 holdings filed Sep 30, 2026 · Nasdaq-100: 6% in53% of its weight is outside the S&P 50047% of MDEV's weight is in S&P 500 companies and 53% is outside the index47%53%in the S&P 500outside the S&P 500active share 98% · top ten 28% of the fund

47% of MDEV's weight is in S&P 500 companies and 53% is outside the index

ETFIQ Off-Index Score · MDEV scores higherHow much of it is not the index it is sold as an alternative to?
0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, CANC and MDEV hold 0% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 30, 2026.

half

0% in common

Positions both hold, largest shared weight first
Holding CANC MDEV
Only in CANC
REVOLUTION MEDICINES INC 5.52%
MERCK & CO INC 4.87%
COGENT BIOSCIENCES INC 4.75%
ELI LILLY & CO 4.58%
NOVARTIS AG 3.70%
BRISTOL-MYERS SQUIBB CO 3.47%
BEONE MEDICINES LTD 3.36%
IOVANCE BIOTHERAPEUTICS INC 3.34%
Only in MDEV
Revvity, Inc. 3.21%
WuXi AppTec Co., Ltd. (Class H) 3.13%
Demant A/S 2.84%
Agilent Technologies, Inc. 2.82%
West Pharmaceutical Services, Inc. 2.71%
Baxter International Inc. 2.64%
Waters Corporation 2.58%
Sysmex Corporation 2.56%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

0% of the two portfolios are the same securities at the same weight.

Performance, window by window

Total returnvs the S&P 500vs the Nasdaq-100
WindowCANCMDEVCANCMDEVCANCMDEV
3 months+2.9%+7.3%+0.4 pts+4.8 pts+0.8 pts+5.2 pts
6 months+13.2%+8.8%−3.8 pts−8.2 pts−13.7 pts−18.1 pts
1 year+46.5%+4.1%+30.8 pts−11.6 pts+22.7 pts−19.7 pts
3 years+87.6%+15.2%+2.6 pts−69.8 pts−22.4 pts−94.8 pts
Since launch
CANC Sep 2021 · MDEV Jun 2021
−29.4%−17.7%−119.5 pts−111.3 pts−142.3 pts−137.1 pts

CANC and MDEV over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CANC
Tema Oncology ETF · Holds 58 stocks in therapeutics and medical devices, 22% of its weight in S&P 500 companies
MDEV
First Trust Indxx Medical Devices ETF · Holds 54 stocks in therapeutics and medical devices, 47% of its weight in S&P 500 companies
Issuer Tema First Trust
Theme Therapeutics and medical devices Therapeutics and medical devices
In the S&P 500 22.2% 47.3%
Active share vs the S&P 500 95.6% 98.0%
In the Nasdaq-100 2.4% 5.9%
Holdings 58 54
Top ten, share of the fund 40.1% 27.6%
Expense ratio 0.75% 0.70%
Fee for the differing part 0.78% 0.71%
Total return, 1 year +46.5% +4.1%
vs the S&P 500 +30.8 pts −11.6 pts
vs the Nasdaq-100 +22.7 pts −19.7 pts
Below its high −49.8% −25.9%
Net assets $209m $3m

CANC and MDEV on the same fields, as of Sep 30, 2026. Source: ETFIQ.

CANC in plain words

By weight, 22% of CANC's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 40% of the fund across 58 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +46.5% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 30.8 pts. It sits 49.8% below its all-time high of Oct 20, 2021.

MDEV in plain words

By weight, 47% of MDEV's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 28% of the fund across 54 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +4.1% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 11.6 pts. It sits 25.9% below its all-time high of Sep 7, 2021.

Questions people ask

Do CANC and MDEV hold the same stocks?
By their latest filings, 0% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, CANC or MDEV?
CANC has 22% of its weight in S&P 500 names and MDEV has 47%, so MDEV differs more from the index.
Which is cheaper, CANC or MDEV?
CANC charges 0.75% a year and MDEV charges 0.70%, so MDEV is cheaper. Fees come from each fund's prospectus.
Other comparisons
CANC vs IBRNCANC vs IHICANC vs PSILMDEV vs PSILMDEV vs IBRNMDEV vs IHI
CANC on its own →MDEV on its own →How every figure is computed →Standards and sources →
Where these figures came from
CANC filings on SEC EDGAR ↗CANC prospectus with the expense ratio (SEC) ↗Tema page for CANC ↗MDEV filings on SEC EDGAR ↗MDEV prospectus with the expense ratio (SEC) ↗First Trust page for MDEV ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, CANC against MDEV, data as of Sep 30, 2026. https://etfiq.com/compare/themes/canc-vs-mdev

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.