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Data as of Oct 28, 2026.

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Thematic ETFs

FDN vs SHLD: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, FDN returned −1.1% to SHLD's −6.5%; 0% of their weight is in the same names.

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Net assets: $5.1bn on Oct 27, 2026 for First Trust Dow Jones Internet Index Fund, and $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF.

FDN on its own →SHLD on its own →
At a glance
81.9%
FDN in the S&P 500
44.6%
SHLD in the S&P 500
−1.1%
FDN total return, 1 year
−6.5%
SHLD 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.

SHLD · 1 year to Oct 28, 2026 55% of its weight is outside the S&P 500
55% of its weight is outside the S&P 50045% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 2026.45%55%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 99% · top ten 59% of the fund · 48 holdings as filed for May 31, 2026 · Nasdaq-100: 7% in55% of its weight is outside the S&P 50045% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 2026.45%55%in the S&P 500outside the S&P 500active share 99% · Nasdaq-100: 7% in

45% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 2026.

Pair scorecard

FDN costs 0.01 points a year less; their one-year returns differ by 5.4 points; SHLD is 1.2 times larger.

Points (pts) are percentage points.

FDN vs SHLD: Holdings Overlap & Returns
MeasureFDNSHLD
Return
Total return, 1 year−1.1%−6.5%
Drawdown
Below its all-time high6.3%, high on Oct 9, 202618.6%, high on Mar 9, 2026
Against its benchmark
What it tracksInternet and e-commerceDefense
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%0.50%
Net assets, as of Oct 12, 2026$5.4bn$6.3bn
Holdings
Holdings in common0%

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 SHLD 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 SHLD
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 SHLD
LOCKHEED MARTIN CORPORATION 8.41%
RTX CORPORATION 7.75%
GENERAL DYNAMICS CORPORATION 7.67%
PALANTIR TECHNOLOGIES INC. 7.07%
Rheinmetall Aktiengesellschaft 5.76%
BAE SYSTEMS PLC 4.88%
L3HARRIS TECHNOLOGIES, INC. 4.69%
HANWHA AEROSPACE CO., LTD. 4.40%
Check overlap with more funds →

Window by window

Window by window: FDN vs SHLD: Holdings Overlap & Returns
Total returnvs its benchmark
WindowFDNSHLDFDNSHLD
3 months+5.5%+2.0%−0.6 pts vs IVVnot measured
6 months+7.7%−4.7%−1.4 pts vs IVVnot measured
1 year−1.1%−6.5%−14.8 pts vs IVVnot measured
3 years+89.6%+156.5%−5.8 pts vs IVVnot measured
Since launchNot the same days: FDN Jun 2006 · SHLD Sep 2023+1,282.2%+160.2%not measurednot measured

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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 SHLD Global X Defense Tech ETF · Holds 48 stocks in defense, 45% of its weight in S&P 500 companies
Issuer First Trust Global X
Theme Internet and e-commerce Defense
In the S&P 500 81.9% 44.6%
Active share vs the S&P 500 85.5% 98.7%
In the Nasdaq-100 60.0% 7.1%
Holdings 41 48
Top ten, share of the fund 61.1% 59.3%
Expense ratio 0.49% 0.50%
Fee for the differing part 0.57% 0.51%
Total return, 1 year −1.1% −6.5%
vs its benchmark −14.8 pts vs IVV not measured
Below its high −6.3% −18.6%
Net assets, FDN as of Oct 27, 2026 and SHLD as of Oct 12, 2026 $5.1bn $6.3bn

As of Oct 28, 2026. Source: ETFIQ.

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

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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.

SHLD

By weight, 45% of SHLD'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 59% of the fund across 48 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned −6.5% with distributions reinvested. It sits 18.6% below its all-time high of Mar 9, 2026.

Questions people ask

Do FDN and SHLD 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 SHLD?
FDN has 82% of its weight in S&P 500 names and SHLD has 45%, so SHLD differs more from the index.
Which is cheaper, FDN or SHLD?
FDN charges 0.49% a year and SHLD charges 0.50%, so FDN is cheaper. Fees come from each fund's prospectus.
Other comparisons
FDN vs PPAFDN vs ITAFDN vs XARFDN vs IDEFSHLD vs KWEBSHLD vs ARKGSHLD vs URASHLD vs SIL
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →FDN on its own →SHLD on its own →FDN holdings →SHLD dividend history →SHLD 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 ↗
SHLD filings on SEC EDGAR ↗
SHLD prospectus with the expense ratio (SEC) ↗
Global X page for SHLD ↗

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.

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

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