Data as of .
FBT vs PBE: which is really different?
FBT and PBE hold 53% of their weight in the same names, and FBT returned more over the year.
ETFIQ Off-Index Score: FBT 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
53% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FBT and PBE hold 53% of their money in the same securities at the same weight.
| Holding | FBT | PBE |
|---|---|---|
| Natera, Inc. | 4.24% | 5.70% |
| Illumina, Inc. | 3.90% | 5.53% |
| Regeneron Pharmaceuticals, Inc. | 3.66% | 4.89% |
| Gilead Sciences, Inc. | 3.58% | 5.27% |
| Biogen Inc. | 3.35% | 5.07% |
| Amgen Inc. | 3.29% | 4.53% |
| Vertex Pharmaceuticals Incorporated | 3.24% | 4.77% |
| Sarepta Therapeutics, Inc. | 3.29% | 3.01% |
| Exelixis, Inc. | 3.20% | 2.91% |
| Halozyme Therapeutics, Inc. | 4.57% | 2.91% |
| TG Therapeutics, Inc. | 3.08% | 2.91% |
| Repligen Corporation | 3.80% | 2.76% |
| Only in FBT | Only in PBE |
|---|---|
| NeoGenomics, Inc. 4.37% | Royalty Pharma PLC 4.88% |
| Corcept Therapeutics Inc. 3.72% | Novavax Inc 3.03% |
| Genmab A/S (ADR) 3.71% | QIAGEN NV 2.81% |
| BeOne Medicines Ltd. (ADR) 3.64% | Moderna Inc 2.75% |
| argenx SE (ADR) 3.50% | Protagonist Therapeutics Inc 2.69% |
| BioNTech SE (ADR) 3.25% | AnaptysBio Inc 2.68% |
| Bruker Corporation 3.17% | Vericel Corp 2.62% |
| Bio-Techne Corporation 3.14% | Ardelyx Inc 2.56% |
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 Sep 18, 2026 and Sep 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FBT | PBE | FBT | PBE | FBT | PBE | |
| 3 months | +17.2% | +13.2% | +14.9 pts | +11.0 pts | +19.6 pts | +15.7 pts |
| 6 months | +40.6% | +25.9% | +22.6 pts | +7.8 pts | +16.4 pts | +1.6 pts |
| 1 year | +48.9% | +36.2% | +32.3 pts | +19.6 pts | +27.1 pts | +14.4 pts |
| 3 years | +80.7% | +65.0% | +2.3 pts | −13.4 pts | −17.5 pts | −33.1 pts |
| Since launch | +848.2% | +492.4% | +44.6 pts | −311.1 pts | −842.1 pts | −1197.8 pts |
| FBT First Trust NYSE Arca Biotechnology Index Fund Holds 31 stocks in biotech, 24% of its weight in S&P 500 companies | PBE Invesco Biotechnology & Genome ETF Holds 33 stocks in biotech, 30% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | First Trust | Invesco |
| Theme | Biotech | Biotech |
| In the S&P 500 | 23.6% | 30.0% |
| Active share vs the S&P 500 | 99.1% | 99.0% |
| In the Nasdaq-100 | 16.2% | 19.5% |
| Holdings | 31 | 33 |
| Top ten, share of the fund | 39.2% | 46.7% |
| Expense ratio | 0.55% | 0.59% |
| Fee for the differing part | 0.55% | 0.60% |
| Total return, 1 year | +48.9% | +36.2% |
| vs the S&P 500 | +32.3 pts | +19.6 pts |
| vs the Nasdaq-100 | +27.1 pts | +14.4 pts |
| Below its high | −2.1% | −3.9% |
| Net assets | $2.9bn | $414m |
FBT in plain words
By weight, 24% of FBT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 39% of the fund across 31 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +48.9% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 32.3 pts.
PBE in plain words
By weight, 30% of PBE's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 47% of the fund across 33 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned +36.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 19.6 pts.
Questions people ask
- Do FBT and PBE hold the same stocks?
- By their latest filings, 53% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, FBT or PBE?
- FBT has 24% of its weight in S&P 500 names and PBE has 30%, so FBT differs more from the index.
- Which is cheaper, FBT or PBE?
- FBT charges 0.55% a year and PBE charges 0.59%, so FBT 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, FBT against PBE, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fbt-vs-pbe Free to use with attribution; the underlying files are at Open data.