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Data as of Nov 4, 2026.

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Thematic ETFs

FDFF vs FRWD: Holdings Overlap & Returns

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FDFF and FRWD hold 1% of their weight in the same names.

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Net assets: $43m on Sep 30, 2026 for Fidelity Disruptive Finance ETF, and $285m on Jun 30, 2026 for Nomura Transformational Technologies ETF.

FDFF on its own →FRWD on its own →
At a glance
43.4%
FDFF in the S&P 500
69.9%
FRWD in the S&P 500
+9.3%
FDFF total return, 1 year
+15.0%
FRWD total return, since launch, Jan 13, 2026
FDFF · 1 year to Nov 4, 2026 57% of its weight is outside the S&P 500
57% of its weight is outside the S&P 50043% of FDFF's weight is in S&P 500 companies and 57% is outside the index. Holdings as of Aug 31, 2026.43%57%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 46% of the fund · 46 holdings as filed for Aug 31, 2026 · Nasdaq-100: 1% in57% of its weight is outside the S&P 50043% of FDFF's weight is in S&P 500 companies and 57% is outside the index. Holdings as of Aug 31, 2026.43%57%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 1% in

43% of FDFF's weight is in S&P 500 companies and 57% is outside the index. Holdings as of Aug 31, 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

FDFF costs 0.15 points a year less.

FDFF vs FRWD: Holdings Overlap & Returns
MeasureFDFFFRWD
Return
Total return, 1 year+9.3%not published
Drawdown
Below its all-time high16.9%, high on Jun 18, 2026
Benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Cost and size
Expense ratio0.50%0.65%
Net assets, FDFF as of Sep 30, 2026 and FRWD as of Jun 30, 2026$43m$285m
Holdings
Holdings in common1%

Method

What they share

1%

By the books each fund has filed, FDFF and FRWD hold 1% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

0 half 100%

half

1% in common

Positions both hold · largest shared weight first FDFF FRWD
MERCADOLIBRE INC 0.79% 2.31%
Only in one fund ↓
Only in FDFF
BLACKROCK INC 5.82%
CAPITAL ONE FINANCIAL CORP 5.44%
BANKINTER SA 4.94%
FINECOBANK SPA 4.47%
VISA INC 4.42%
CHIME FINANCIAL INC 4.38%
MASTERCARD INC 4.36%
DBS GROUP HOLDINGS LTD 4.32%
Only in FRWD
NVIDIA Corp. 8.09%
Advanced Micro Devices, Inc. 7.80%
Seagate Technology Holdings plc 7.74%
Lam Research Corp. 6.64%
Taiwan Semiconductor Manufacturing Co. Ltd. 6.30%
Micron Technology, Inc. 5.14%
ASML Holding NV 5.07%
Western Digital Corp. 5.04%
Check overlap with more funds →

Window by window

Window by window: FDFF vs FRWD: Holdings Overlap & Returns
Total return
WindowFDFFFRWD
3 months+2.4%−10.7%
6 months+11.1%−5.2%
1 year+9.3%–
3 years+53.9%–
Since launchNot the same days: FDFF Jun 2023 · FRWD Jan 2026+52.8%+15.0%

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Side by side

FDFF Fidelity Disruptive Finance ETF · Holds 46 stocks in broad innovation and megatrends, 43% 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 Fidelity Nomura
Theme Broad innovation and megatrends Broad innovation and megatrends
In the S&P 500 43.4% 69.9%
Active share vs the S&P 500 97.5% 74.4%
In the Nasdaq-100 1.4% 79.9%
Holdings 46 25
Top ten, share of the fund 46.4% 60.6%
Expense ratio 0.50% 0.65%
Fee for the differing part 0.51% 0.87%
Total return, 1 year +9.3% +15.0% (since launch, Jan 13, 2026)
vs its benchmark not measured not measured
Below its high −3.8% −16.9%
Net assets, FDFF as of Sep 30, 2026 and FRWD as of Jun 30, 2026 $43m $285m

As of Nov 4, 2026. Source: ETFIQ.

1% of the two portfolios are the same securities at the same weight.

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About each fund
FDFF

By weight, 43% of FDFF'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 46% of the fund across 46 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned +9.3% with distributions reinvested.

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 FDFF and FRWD hold the same stocks?
By their latest filings, 1% 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, FDFF or FRWD?
FDFF has 43% of its weight in S&P 500 names and FRWD has 70%, so FDFF differs more from the index.
Which is cheaper, FDFF or FRWD?
FDFF charges 0.50% a year and FRWD charges 0.65%, so FDFF is cheaper. Fees come from each fund's prospectus.
Other comparisons
FDFF vs FDTXFDFF vs ILDRFDFF vs QQQJFDFF vs FMEDFRWD vs LENSFRWD vs HTECFRWD vs GDOCFRWD vs TNXT
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →FDFF on its own →FRWD on its own →FDFF dividend history →FDFF holdings →FRWD holdings →Method →Standards and sources →
Sources and dates
FDFF filings on SEC EDGAR ↗
FDFF prospectus with the expense ratio (SEC) ↗
Fidelity website ↗
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

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, FDFF against FRWD, data as of Nov 4, 2026. https://etfiq.com/compare/themes/fdff-vs-frwd

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