Do ELFY and ZAP hold the same stocks?

By their latest filings, 24% 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, ELFY or ZAP?

ELFY has 48% of its weight in S&P 500 names and ZAP has 76%, so ZAP differs more from the index.

Which is cheaper, ELFY or ZAP?

ELFY charges 0.50% a year and ZAP charges 0.50%, so ELFY is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

ELFY vs ZAP: which is really different?

ELFY and ZAP hold 24% of their weight in the same names, and ELFY returned +8.7% over the year. ALPS Electrification Infrastructure ETF and Global X U.S. Electrification ETF.

48.1%

ELFY in the S&P 500

75.5%

ZAP in the S&P 500

+8.7%

ELFY total return, 1 year

+4.9%

ZAP total return, 1 year

ELFY · 1 year to Sep 30, 202652% of its weight is outside the S&P 500

48% of ELFY's weight is in S&P 500 companies and 52% is outside the index

ZAP · 1 year to Sep 30, 202625% of its weight is outside the S&P 500

76% of ZAP's weight is in S&P 500 companies and 25% is outside the index

ETFIQ Off-Index Score · ZAP scores higherHow much of it is not the index it is sold as an alternative to?

ELFY 30.8

ZAP 48.1

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, ELFY and ZAP hold 24% 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 May 31, 2026 and Sep 30, 2026.

50%

half

24% in common

Positions both hold, largest shared weight first

Holding ELFY ZAP

Mastec Inc 1.05% 1.41%

Talen Energy Corp 1.03% 1.38%

Quanta Services Inc 1.03% 4.71%

Eaton Corp Plc 0.94% 4.67%

Dominion Energy Inc 0.88% 4.27%

Ametek Inc 0.86% 4.63%

Entergy Corp 0.86% 3.79%

Hubbell Inc 0.84% 2.67%

Vistra Corp 0.83% 3.74%

Evergy Inc 0.83% 2.02%

Alliant Energy Corp 0.82% 1.83%

Oge Energy Corp 0.81% 1.07%

Only in ELFY

Sterling Infrastructure Inc 1.75%

Vicor Corp 1.66%

Bloom Energy Corp 1.49%

Powell Industries Inc 1.36%

Enphase Energy Inc 1.32%

First Solar Inc 1.28%

Ies Holdings Inc 1.28%

Nvent Electric Plc 1.28%

Only in ZAP

BLOOM ENERGY CORP- A 5.89%

AMERICAN ELECTRIC POWER 3.92%

NATIONAL GRID PLC-SP ADR 3.85%

CONSTELLATION ENERGY 3.79%

PUBLIC SERVICE ENTERPRISE GP 3.65%

AMEREN CORPORATION 3.08%

EMERA INC 1.62%

PINNACLE WEST CAPITAL 1.24%

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

24% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	ELFY	ZAP	ELFY	ZAP	ELFY	ZAP
3 months	−11.6%	−9.8%	−14.1 pts	−12.3 pts	−13.7 pts	−11.9 pts
6 months	−2.8%	−5.3%	−19.7 pts	−22.3 pts	−29.6 pts	−32.2 pts
1 year	+8.7%	+4.9%	−7.0 pts	−10.8 pts	−15.1 pts	−18.9 pts
Since launch ELFY Apr 2025 · ZAP Dec 2024	+49.7%	+30.4%	+1.9 pts	−2.6 pts	−17.2 pts	−14.2 pts

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

On the same fields

ELFY

ALPS Electrification Infrastructure ETF · Holds 108 stocks in electrification and the grid, 48% of its weight in S&P 500 companies

ZAP

Global X U.S. Electrification ETF · Holds 47 stocks in electrification and the grid, 76% of its weight in S&P 500 companies

Issuer ALPS Global X

Theme Electrification and the grid Electrification and the grid

In the S&P 500 48.1% 75.5%

Active share vs the S&P 500 94.6% 97.9%

In the Nasdaq-100 3.1% 15.3%

Holdings 108 47

Top ten, share of the fund 13.9% 43.8%

Expense ratio 0.50% 0.50%

Fee for the differing part 0.53% 0.51%

Total return, 1 year +8.7% +4.9%

vs the S&P 500 −7.0 pts −10.8 pts

vs the Nasdaq-100 −15.1 pts −18.9 pts

Below its high −15.2% −12.6%

Net assets $203m $436m

ELFY and ZAP on the same fields, as of Sep 30, 2026. Source: ETFIQ.

ELFY in plain words

By weight, 48% of ELFY's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 95%. The top ten holdings are 14% of the fund across 108 positions, as filed for May 31, 2026. Over the year to Sep 30, 2026 the fund returned +8.7% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 7.0 pts. It sits 15.2% below its all-time high of Jun 2, 2026.

ZAP in plain words

By weight, 76% of ZAP'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 44% of the fund across 47 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +4.9% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 10.8 pts. It sits 12.6% below its all-time high of Jun 25, 2026.

Questions people ask

Do ELFY and ZAP hold the same stocks?: By their latest filings, 24% 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, ELFY or ZAP?: ELFY has 48% of its weight in S&P 500 names and ZAP has 76%, so ZAP differs more from the index.
Which is cheaper, ELFY or ZAP?: ELFY charges 0.50% a year and ZAP charges 0.50%, so ELFY is cheaper. Fees come from each fund's prospectus.

Other comparisons

ELFY vs GRID ELFY vs ICOP ELFY vs JOUL ELFY vs POW ZAP vs EMET ZAP vs GRID ZAP vs FPWR ZAP vs ICOP

ELFY on its own →ZAP on its own →How every figure is computed →Standards and sources →

Where these figures came from

ELFY filings on SEC EDGAR ↗ELFY prospectus with the expense ratio (SEC) ↗ALPS website ↗ZAP filings on SEC EDGAR ↗ZAP prospectus with the expense ratio (SEC) ↗Global X page for ZAP ↗

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, ELFY against ZAP, data as of Sep 30, 2026. https://etfiq.com/compare/themes/elfy-vs-zap

Open data

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