IQ

Data as of Nov 4, 2026.

vsOpen in the appCompare their flowsaskIQ about these two fundsAsk the committee about these two funds
Thematic ETFs

CARZ vs FRWD: Holdings Overlap & Returns

Share
Share on XDownload as PDF

CARZ and FRWD hold 31% of their weight in the same names.

askIQ about this page

askIQ about CARZ and FRWD

Net assets: $42m on Nov 3, 2026 for First Trust S-Network Future Vehicles & Technology ETF, and $285m on Jun 30, 2026 for Nomura Transformational Technologies ETF.

CARZ on its own →FRWD on its own →
At a glance
50.7%
CARZ in the S&P 500
69.9%
FRWD in the S&P 500
+26.4%
CARZ total return, 1 year
+15.0%
FRWD total return, since launch, Jan 13, 2026
CARZ · 1 year to Nov 4, 2026 49% of its weight is outside the S&P 500
49% of its weight is outside the S&P 50051% of CARZ's weight is in S&P 500 companies and 49% is outside the index. Holdings as of Nov 3, 2026.51%49%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 74% · top ten 44% of the fund · 100 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 46% in49% of its weight is outside the S&P 50051% of CARZ's weight is in S&P 500 companies and 49% is outside the index. Holdings as of Nov 3, 2026.51%49%in the S&P 500outside the S&P 500active share 74% · Nasdaq-100: 46% in

51% of CARZ's weight is in S&P 500 companies and 49% is outside the index. Holdings as of Nov 3, 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 0.05 points a year less.

Points (pts) are percentage points.

CARZ vs FRWD: Holdings Overlap & Returns
MeasureCARZFRWD
Return
Total return, 1 year+26.4%not published
Drawdown
Below its all-time high23.2%, high on Jun 2, 202616.9%, high on Jun 18, 2026
Against its benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Against its benchmark, 1 yearahead by 11.4 pts
Cost and size
Expense ratio0.70%0.65%
Net assets, CARZ as of Nov 3, 2026 and FRWD as of Jun 30, 2026$42m$285m
Holdings
Holdings in common31%
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 Score20.6CARZ21.9FRWD

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

31%

By the books each fund has filed, CARZ and FRWD hold 31% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

0 half 100%

half

31% in common

Positions both hold · largest shared weight first CARZ FRWD
NVIDIA Corporation 4.58% 8.09%
Taiwan Semiconductor Manufacturing Company Limited (ADR) 4.52% 6.30%
Micron Technology, Inc. 4.22% 5.14%
Samsung Electronics Co., Ltd. 4.27% 4.14%
Advanced Micro Devices, Inc. 3.98% 7.80%
Alphabet Inc. (Class A) 4.11% 3.20%
Texas Instruments Incorporated 3.16% 3.77%
Microsoft Corporation 5.09% 2.81%
Only in one fund ↓
Only in CARZ
Tesla, Inc. 5.43%
Apple Inc. 4.98%
Intel Corporation 2.89%
Analog Devices, Inc. 2.26%
QUALCOMM Incorporated 1.94%
Toyota Motor Corporation 1.89%
Schneider Electric SE 1.69%
Marvell Technology, Inc. 1.67%
Only in FRWD
Seagate Technology Holdings plc 7.74%
Lam Research Corp. 6.64%
ASML Holding NV 5.07%
Western Digital Corp. 5.04%
Broadcom, Inc. 4.65%
DoorDash, Inc. 3.29%
Netflix, Inc. 3.27%
Amazon.com, Inc. 2.81%
Check overlap with more funds →

Window by window

Window by window: CARZ vs FRWD: Holdings Overlap & Returns
Total returnvs its benchmark
WindowCARZFRWDCARZFRWD
3 months−11.1%−10.7%−9.8 pts vs ACWInot measured
6 months−14.3%−5.2%−16.9 pts vs ACWInot measured
1 year+26.4%–+11.4 pts vs ACWI–
3 years+94.8%–+17.2 pts vs ACWI–
Since launchNot the same days: CARZ May 2011 · FRWD Jan 2026+302.5%+15.0%−30.9 pts vs ACWInot measured

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

Side by side

CARZ First Trust S-Network Future Vehicles & Technology ETF · Holds 100 stocks in broad innovation and megatrends, 51% 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 First Trust Nomura
Theme Broad innovation and megatrends Broad innovation and megatrends
In the S&P 500 50.7% 69.9%
Active share vs the S&P 500 74.3% 74.4%
In the Nasdaq-100 46.2% 79.9%
Holdings 100 25
Top ten, share of the fund 44.3% 60.6%
Expense ratio 0.70% 0.65%
Fee for the differing part 0.94% 0.87%
Total return, 1 year +26.4% +15.0% (since launch, Jan 13, 2026)
vs its benchmark +11.4 pts vs ACWI not measured
Below its high −23.2% −16.9%
Net assets, CARZ as of Nov 3, 2026 and FRWD as of Jun 30, 2026 $42m $285m

As of Nov 4, 2026. Source: ETFIQ.

31% of the two portfolios are the same securities at the same weight.

Alert

CARZ flows, by email on Sundays.

One-click unsubscribe. See Privacy.

About each fund
CARZ

By weight, 51% of CARZ'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 44% of the fund across 100 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +26.4% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 11.4 pts. It sits 23.2% below its all-time high of Jun 2, 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 CARZ and FRWD hold the same stocks?
By their latest filings, 31% 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, CARZ or FRWD?
CARZ has 51% of its weight in S&P 500 names and FRWD has 70%, so FRWD differs more from the index.
Which is cheaper, CARZ or FRWD?
CARZ charges 0.70% a year and FRWD charges 0.65%, so FRWD is cheaper. Fees come from each fund's prospectus.
Other comparisons
CARZ vs QQQJCARZ vs FMEDCARZ vs XTCARZ vs XDATFRWD vs GTEKFRWD vs ILDRFRWD vs FDFFFRWD vs THMZ
Where to next
CARZ on its own →FRWD on its own →CARZ dividend history →CARZ holdings →FRWD holdings →Method →Standards and sources →
Sources and dates
CARZ filings on SEC EDGAR ↗
CARZ prospectus with the expense ratio (SEC) ↗
First Trust page for CARZ ↗
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, CARZ against FRWD, data as of Nov 4, 2026. https://etfiq.com/compare/themes/carz-vs-frwd

Open data →

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