Data as of .
FDNI vs KWEB: which is really different?
FDNI and KWEB hold 21% of their weight in the same names, and FDNI returned more over the year.
ETFIQ Off-Index Score: FDNI 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
21% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FDNI and KWEB hold 21% of their money in the same securities at the same weight.
| Holding | FDNI | KWEB |
|---|---|---|
| PDD Holdings Inc. (ADR) | 5.86% | 8.17% |
| NetEase, Inc. | 4.62% | 6.26% |
| Meituan (Class B) | 4.34% | 7.09% |
| JD.com, Inc. (Class A) | 4.56% | 3.87% |
| Kuaishou Technology | 1.52% | 2.99% |
| JD Health International Inc. | 0.56% | 2.52% |
| Vipshop Holdings Limited (ADR) | 0.36% | 1.48% |
| Only in FDNI | Only in KWEB |
|---|---|
| Shopify Inc. (Class A) 10.35% | TENCENT HOLDINGS LTD 9.96% |
| Alibaba Group Holding Limited 10.20% | ALIBABA GROUP HOLDING LTD 8.70% |
| Tencent Holdings Limited 9.90% | LENOVO GROUP LTD 6.63% |
| Spotify Technology S.A. 5.52% | KE HOLDINGS INC-CL A 4.23% |
| Prosus N.V. 4.56% | TRIP.COM GROUP LTD 3.57% |
| Sea Limited (ADR) 4.32% | BAIDU INC-CLASS A-HKD 3.22% |
| Adyen NV 4.12% | FULL TRUCK ALLIANCE -SPN ADR 2.89% |
| Naspers Limited (Class N) 3.89% | KANZHUN LTD - ADR 2.43% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FDNI | KWEB | FDNI | KWEB | FDNI | KWEB | |
| 3 months | −1.3% | −1.6% | −3.5 pts | −3.9 pts | +1.2 pts | +0.9 pts |
| 6 months | −3.6% | −12.0% | −21.7 pts | −30.1 pts | −27.9 pts | −36.3 pts |
| 1 year | −32.3% | −37.3% | −48.8 pts | −53.8 pts | −54.0 pts | −59.0 pts |
| 3 years | +24.5% | +0.7% | −53.9 pts | −77.7 pts | −73.6 pts | −97.5 pts |
| Since launch | +36.7% | +21.7% | −169.0 pts | −436.7 pts | −295.4 pts | −928.1 pts |
| FDNI First Trust Dow Jones International Internet ETF Holds 49 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | KWEB KraneShares CSI China Internet ETF Holds 46 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | First Trust | KraneShares |
| Theme | Internet and e-commerce | Internet and e-commerce |
| In the S&P 500 | 0.0% | 0.0% |
| Active share vs the S&P 500 | 100.0% | 100.0% |
| In the Nasdaq-100 | 16.2% | 8.2% |
| Holdings | 49 | 46 |
| Top ten, share of the fund | 64.2% | 61.7% |
| Expense ratio | 0.65% | 0.69% |
| Fee for the differing part | 0.65% | 0.69% |
| Total return, 1 year | −32.3% | −37.3% |
| vs the S&P 500 | −48.8 pts | −53.8 pts |
| vs the Nasdaq-100 | −54.0 pts | −59.0 pts |
| Below its high | −52.7% | −71.2% |
| Net assets | $32m | $4.7bn |
FDNI in plain words
By weight, 0% of FDNI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 64% of the fund across 49 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −32.3% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 48.8 pts. It sits 52.7% below its all-time high of Feb 16, 2021.
KWEB in plain words
By weight, 0% of KWEB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 46 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −37.3% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 53.8 pts. It sits 71.2% below its all-time high of Feb 17, 2021.
Questions people ask
- Do FDNI and KWEB hold the same stocks?
- By their latest filings, 21% 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, FDNI or KWEB?
- FDNI has 0% of its weight in S&P 500 names and KWEB has 0%, so FDNI differs more from the index.
- Which is cheaper, FDNI or KWEB?
- FDNI charges 0.65% a year and KWEB charges 0.69%, so FDNI 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, FDNI against KWEB, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fdni-vs-kweb Free to use with attribution; the underlying files are at Open data.