IQ

Data as of Oct 28, 2026.

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

FDN vs PAVE: Holdings Overlap & Returns

Share
Share on XDownload as PDF

Over the year to Oct 28, 2026, FDN returned −1.1% to PAVE's +11.4%; 0% of their weight is in the same names.

askIQ about this page

askIQ about FDN and PAVE

Net assets: $5.1bn on Oct 27, 2026 for First Trust Dow Jones Internet Index Fund, and $13.6bn on Oct 12, 2026 for Global X U.S. Infrastructure Development ETF.

FDN on its own →PAVE on its own →
At a glance
81.9%
FDN in the S&P 500
62.1%
PAVE in the S&P 500
−1.1%
FDN total return, 1 year
+11.4%
PAVE total return, 1 year
FDN · 1 year to Oct 28, 2026 18% of its weight is outside the S&P 500
18% of its weight is outside the S&P 50082% of FDN's weight is in S&P 500 companies and 18% is outside the index. Holdings as of Oct 27, 2026.82%18%of its weight in S&P 500 companiesoutside the S&P 500active share 86% · top ten 61% of the fund · 41 holdings as published by its issuer for Oct 27, 2026 · Nasdaq-100: 60% in18% of its weight is outside the S&P 50082% of FDN's weight is in S&P 500 companies and 18% is outside the index. Holdings as of Oct 27, 2026.82%18%in the S&P 50018% of its weight outside the S&P 500active share 86% · Nasdaq-100: 60% in

82% of FDN's weight is in S&P 500 companies and 18% is outside the index. Holdings as of Oct 27, 2026.

PAVE · 1 year to Oct 28, 2026 38% of its weight is outside the S&P 500
38% of its weight is outside the S&P 50062% of PAVE's weight is in S&P 500 companies and 38% is outside the index. Holdings as of May 31, 2026.62%38%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 97% · top ten 32% of the fund · 100 holdings as filed for May 31, 2026 · Nasdaq-100: 6% in38% of its weight is outside the S&P 50062% of PAVE's weight is in S&P 500 companies and 38% is outside the index. Holdings as of May 31, 2026.62%38%in the S&P 500outsideactive share 97% · Nasdaq-100: 6% in

62% of PAVE's weight is in S&P 500 companies and 38% is outside the index. Holdings as of May 31, 2026.

Pair scorecard

PAVE costs 0.02 points a year less; their one-year returns differ by 12.5 points; PAVE is 2.5 times larger.

Points (pts) are percentage points.

FDN vs PAVE: Holdings Overlap & Returns
MeasureFDNPAVE
Return
Total return, 1 year−1.1%+11.4%
Drawdown
Below its all-time high6.3%, high on Oct 9, 202610.9%, high on Jun 25, 2026
Against its benchmark
What it tracksInternet and e-commerceInfrastructure
Against the S&P 500, 1 yearbehind by 14.8 pts
Its benchmark, total return, 1 year+13.7%
Against its benchmark, 1 yearbehind by 14.8 pts
Cost and size
Expense ratio0.49%0.47%
Net assets, as of Oct 12, 2026$5.4bn$13.6bn
Holdings
Holdings in common0%
ETFIQ S&P 500 Difference Score · PAVE scores higher How much of its weight does it not share with the S&P 500?
IQ Themes Score52.2FDN79.9PAVE

How different its holdings are from the S&P 500, ranked against 112 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

A percentile among the 112 thematic ETFs with at least half their money in S&P 500 companies. 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 →

Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method

What they share

0%

By the books each fund has filed, FDN and PAVE hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first FDN PAVE
Only in one fund ↓
Only in FDN
Amazon.com, Inc. 10.23%
Meta Platforms, Inc. (Class A) 9.68%
Cisco Systems, Inc. 9.04%
Alphabet Inc. (Class A) 5.48%
Netflix, Inc. 5.28%
Salesforce, Inc. 4.53%
Arista Networks, Inc. 4.45%
Alphabet Inc. (Class C) 4.39%
Only in PAVE
QUANTA SERVICES, INC. 4.18%
CSX Corporation 3.48%
EATON CORPORATION PUBLIC LIMITED COMPANY 3.30%
HOWMET AEROSPACE INC. 3.27%
TRANE TECHNOLOGIES PLC 3.19%
UNION PACIFIC CORPORATION 3.12%
NUCOR CORPORATION 3.10%
ROCKWELL AUTOMATION, INC. 2.92%
Check overlap with more funds →

Window by window

Window by window: FDN vs PAVE: Holdings Overlap & Returns
Total returnvs its benchmark
WindowFDNPAVEFDNPAVE
3 months+5.5%−3.0%−0.6 pts vs IVVnot measured
6 months+7.7%−3.1%−1.4 pts vs IVVnot measured
1 year−1.1%+11.4%−14.8 pts vs IVVnot measured
3 years+89.6%+92.8%−5.8 pts vs IVVnot measured
Since launchNot the same days: FDN Jun 2006 · PAVE Mar 2017+1,282.2%+284.2%not measurednot measured

Open this comparison in the app →

Side by side

FDN First Trust Dow Jones Internet Index Fund · Holds 41 stocks in internet and e-commerce, 82% of its weight in S&P 500 companies PAVE Global X U.S. Infrastructure Development ETF · Holds 100 stocks in infrastructure, 62% of its weight in S&P 500 companies
Issuer First Trust Global X
Theme Internet and e-commerce Infrastructure
In the S&P 500 81.9% 62.1%
Active share vs the S&P 500 85.5% 97.2%
In the Nasdaq-100 60.0% 6.2%
Holdings 41 100
Top ten, share of the fund 61.1% 32.3%
Expense ratio 0.49% 0.47%
Fee for the differing part 0.57% 0.48%
Total return, 1 year −1.1% +11.4%
vs its benchmark −14.8 pts vs IVV not measured
Below its high −6.3% −10.9%
Net assets, FDN as of Oct 27, 2026 and PAVE as of Oct 12, 2026 $5.1bn $13.6bn

As of Oct 28, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Alert

FDN flows, by email on Sundays.

One-click unsubscribe. See Privacy.

About each fund
FDN

By weight, 82% of FDN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 86%. The top ten holdings are 61% of the fund across 41 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −1.1% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 14.8 pts. It sits 6.3% below its all-time high of Oct 9, 2026.

PAVE

By weight, 62% of PAVE's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 32% of the fund across 100 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned +11.4% with distributions reinvested. It sits 10.9% below its all-time high of Jun 25, 2026.

Questions people ask

Do FDN and PAVE hold the same stocks?
By their latest filings, 0% 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, FDN or PAVE?
FDN has 82% of its weight in S&P 500 names and PAVE has 62%, so PAVE differs more from the index.
Which is cheaper, FDN or PAVE?
FDN charges 0.49% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.
Other comparisons
FDN vs IGFFDN vs IFRAFDN vs NLRFDN vs IGVPAVE vs KWEBPAVE vs ARKGPAVE vs XARPAVE vs URA
Where to next
FDN on its own →PAVE on its own →FDN holdings →PAVE dividend history →PAVE holdings →Method →Standards and sources →
Sources and dates
FDN filings on SEC EDGAR ↗
FDN prospectus with the expense ratio (SEC) ↗
First Trust page for FDN ↗
PAVE filings on SEC EDGAR ↗
PAVE prospectus with the expense ratio (SEC) ↗
Global X page for PAVE ↗

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, FDN against PAVE, data as of Oct 28, 2026. https://etfiq.com/compare/themes/fdn-vs-pave

Open data →

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