Data as of .
FDN vs PNQI: which is really different?
FDN and PNQI hold 45% of their weight in the same names, and FDN returned more over the year.
ETFIQ Off-Index Score: FDN 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
45% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FDN and PNQI hold 45% of their money in the same securities at the same weight.
| Holding | FDN | PNQI |
|---|---|---|
| Meta Platforms, Inc. (Class A) | 10.18% | 8.19% |
| Amazon.com, Inc. | 10.05% | 7.29% |
| Alphabet Inc. (Class C) | 4.67% | 7.11% |
| Salesforce, Inc. | 4.38% | 4.85% |
| Booking Holdings Inc. | 4.31% | 3.68% |
| Netflix, Inc. | 5.94% | 3.24% |
| DoorDash, Inc. (Class A) | 2.48% | 2.24% |
| Airbnb, Inc. (Class A) | 2.38% | 1.96% |
| eBay Inc. | 1.52% | 1.40% |
| PayPal Holdings, Inc. | 1.52% | 1.31% |
| Roblox Corporation (Class A) | 1.09% | 0.91% |
| Okta, Inc. | 1.04% | 0.85% |
| Only in FDN | Only in PNQI |
|---|---|
| Cisco Systems, Inc. 8.71% | Microsoft Corp 8.53% |
| Alphabet Inc. (Class A) 5.86% | Apple Inc 8.38% |
| Arista Networks, Inc. 4.65% | Shopify Inc 4.21% |
| Oracle Corporation 4.11% | Walt Disney Co/The 3.92% |
| Snowflake Inc. (Class A) 3.93% | Uber Technologies Inc 3.89% |
| Cloudflare, Inc. (Class A) 3.55% | Spotify Technology SA 2.96% |
| Datadog, Inc. (Class A) 2.64% | Adobe Inc 2.84% |
| Ciena Corporation 1.70% | MercadoLibre 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 | |||
|---|---|---|---|---|---|---|
| FDN | PNQI | FDN | PNQI | FDN | PNQI | |
| 3 months | +8.4% | +10.1% | +6.2 pts | +7.9 pts | +10.9 pts | +12.6 pts |
| 6 months | +21.2% | +12.0% | +3.2 pts | −6.0 pts | −3.0 pts | −12.2 pts |
| 1 year | +0.8% | −10.8% | −15.8 pts | −27.4 pts | −21.0 pts | −32.6 pts |
| 3 years | +74.0% | +59.2% | −4.4 pts | −19.2 pts | −24.1 pts | −39.0 pts |
| Since launch | +1028.4% | +865.0% | +224.9 pts | +61.5 pts | −661.8 pts | −825.2 pts |
| FDN First Trust Dow Jones Internet Index Fund Holds 42 stocks in internet and e-commerce, 83% of its weight in S&P 500 companies | PNQI Invesco NASDAQ Internet ETF Holds 79 stocks in internet and e-commerce, 75% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | First Trust | Invesco |
| Theme | Internet and e-commerce | Internet and e-commerce |
| In the S&P 500 | 82.8% | 75.2% |
| Active share vs the S&P 500 | 85.5% | 78.8% |
| In the Nasdaq-100 | 60.9% | 63.9% |
| Holdings | 42 | 79 |
| Top ten, share of the fund | 62.8% | 60.0% |
| Expense ratio | 0.49% | 0.60% |
| Fee for the differing part | 0.57% | 0.76% |
| Total return, 1 year | +0.8% | −10.8% |
| vs the S&P 500 | −15.8 pts | −27.4 pts |
| vs the Nasdaq-100 | −21.0 pts | −32.6 pts |
| Below its high | −2.4% | −11.4% |
| Net assets | $5.3bn | $524m |
FDN in plain words
By weight, 83% 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 63% of the fund across 42 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +0.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 15.8 pts.
PNQI in plain words
By weight, 75% of PNQI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 79%. The top ten holdings are 60% of the fund across 79 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned −10.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 27.4 pts. It sits 11.4% below its all-time high of Sep 19, 2025.
Questions people ask
- Do FDN and PNQI hold the same stocks?
- By their latest filings, 45% 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, FDN or PNQI?
- FDN has 83% of its weight in S&P 500 names and PNQI has 75%, so FDN differs more from the index.
- Which is cheaper, FDN or PNQI?
- FDN charges 0.49% a year and PNQI charges 0.60%, so FDN 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, FDN against PNQI, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fdn-vs-pnqi Free to use with attribution; the underlying files are at Open data.