Data as of .
CARZ vs FRWD: which is really different?
CARZ and FRWD hold 32% of their weight in the same names.
ETFIQ Off-Index Score: FRWD scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 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
32% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, CARZ and FRWD hold 32% of their money in the same securities at the same weight.
| Holding | CARZ | FRWD |
|---|---|---|
| Advanced Micro Devices, Inc. | 4.72% | 7.83% |
| Micron Technology, Inc. | 4.72% | 5.16% |
| Samsung Electronics Co., Ltd. | 4.72% | 4.15% |
| Only in CARZ | Only in FRWD |
|---|---|
| Microsoft Corporation 5.92% | NVIDIA Corp. 8.12% |
| NVIDIA Corporation 5.06% | Seagate Technology Holdings plc 7.77% |
| Apple Inc. 4.90% | Lam Research Corp. 6.67% |
| Taiwan Semiconductor Manufacturing Company Limited (ADR) 4.59% | Taiwan Semiconductor Manufacturing Co. L 6.33% |
| Alphabet Inc. (Class A) 4.49% | ASML Holding NV 5.09% |
| Intel Corporation 4.45% | Western Digital Corp. 5.05% |
| Tesla, Inc. 4.13% | Broadcom, Inc. 4.67% |
| Texas Instruments Incorporated 2.36% | Texas Instruments, Inc. 3.78% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| CARZ | FRWD | CARZ | FRWD | CARZ | FRWD | |
| 3 months | −11.3% | −8.0% | −13.5 pts | −10.2 pts | −8.8 pts | −5.5 pts |
| 6 months | +33.3% | +36.3% | +15.3 pts | +18.3 pts | +9.1 pts | +12.1 pts |
| 1 year | +50.4% | not published | +33.9 pts | not published | +28.7 pts | not published |
| 3 years | +107.6% | not published | +29.2 pts | not published | +9.4 pts | not published |
| Since launch | +352.9% | +27.3% | −283.1 pts | +16.6 pts | −939.0 pts | +11.8 pts |
| CARZ First Trust S-Network Future Vehicles & Technology ETF Holds 106 stocks in broad innovation and megatrends, 52% 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 | 51.5% | 70.1% |
| Active share vs the S&P 500 | 74.0% | 74.3% |
| In the Nasdaq-100 | 48.0% | 77.7% |
| Holdings | 106 | 25 |
| Top ten, share of the fund | 47.7% | 60.8% |
| Expense ratio | 0.70% | 0.65% |
| Fee for the differing part | 0.95% | 0.87% |
| Total return, 1 year | +50.4% | +27.3% (since launch on Jan 13, 2026) |
| vs the S&P 500 | +33.9 pts | +16.6 pts |
| vs the Nasdaq-100 | +28.7 pts | +11.8 pts |
| Below its high | −13.6% | −8.0% |
| Net assets | $48m | $285m |
CARZ in plain words
By weight, 52% 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 48% of the fund across 106 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +50.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 33.9 pts. It sits 13.6% below its all-time high of Jun 2, 2026.
FRWD in plain words
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 launched on Jan 13, 2026 the fund returned +27.3% with distributions reinvested against +10.7% for the S&P 500, so a holder was ahead by 16.6 pts. It sits 8.0% below its all-time high of Jun 18, 2026.
Questions people ask
- Do CARZ and FRWD hold the same stocks?
- By their latest filings, 32% of their books are the same securities at the same weight, which is a meaningful overlap. 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 52% 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
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CARZ against FRWD, data as of Sep 18, 2026. https://etfiq.com/compare/themes/carz-vs-frwd Free to use with attribution; the underlying files are at Open data.