Data as of .
FDNI vs PNQI: which is really different?
FDNI and PNQI hold 10% of their weight in the same names, and PNQI 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
10% 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 PNQI hold 10% of their money in the same securities at the same weight.
| Holding | FDNI | PNQI |
|---|---|---|
| Shopify Inc. (Class A) | 10.35% | 4.21% |
| Spotify Technology S.A. | 5.52% | 2.96% |
| Sea Limited (ADR) | 4.32% | 1.26% |
| NetEase, Inc. | 4.62% | 0.26% |
| Vipshop Holdings Limited (ADR) | 0.36% | 0.14% |
| Only in FDNI | Only in PNQI |
|---|---|
| Alibaba Group Holding Limited 10.20% | Microsoft Corp 8.53% |
| Tencent Holdings Limited 9.90% | Apple Inc 8.38% |
| PDD Holdings Inc. (ADR) 5.86% | Meta Platforms Inc 8.19% |
| JD.com, Inc. (Class A) 4.56% | Amazon.com Inc 7.29% |
| Prosus N.V. 4.56% | Alphabet Inc 7.11% |
| Meituan (Class B) 4.34% | Salesforce Inc 4.85% |
| Adyen NV 4.12% | Walt Disney Co/The 3.92% |
| Naspers Limited (Class N) 3.89% | Uber Technologies Inc 3.89% |
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 | |||
|---|---|---|---|---|---|---|
| FDNI | PNQI | FDNI | PNQI | FDNI | PNQI | |
| 3 months | −1.3% | +10.1% | −3.5 pts | +7.9 pts | +1.2 pts | +12.6 pts |
| 6 months | −3.6% | +12.0% | −21.7 pts | −6.0 pts | −27.9 pts | −12.2 pts |
| 1 year | −32.3% | −10.8% | −48.8 pts | −27.4 pts | −54.0 pts | −32.6 pts |
| 3 years | +24.5% | +59.2% | −53.9 pts | −19.2 pts | −73.6 pts | −39.0 pts |
| Since launch | +36.7% | +865.0% | −169.0 pts | +61.5 pts | −295.4 pts | −825.2 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 | 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 | 0.0% | 75.2% |
| Active share vs the S&P 500 | 100.0% | 78.8% |
| In the Nasdaq-100 | 16.2% | 63.9% |
| Holdings | 49 | 79 |
| Top ten, share of the fund | 64.2% | 60.0% |
| Expense ratio | 0.65% | 0.60% |
| Fee for the differing part | 0.65% | 0.76% |
| Total return, 1 year | −32.3% | −10.8% |
| vs the S&P 500 | −48.8 pts | −27.4 pts |
| vs the Nasdaq-100 | −54.0 pts | −32.6 pts |
| Below its high | −52.7% | −11.4% |
| Net assets | $32m | $524m |
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.
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 FDNI and PNQI hold the same stocks?
- By their latest filings, 10% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, FDNI or PNQI?
- FDNI has 0% of its weight in S&P 500 names and PNQI has 75%, so FDNI differs more from the index.
- Which is cheaper, FDNI or PNQI?
- FDNI charges 0.65% a year and PNQI charges 0.60%, so PNQI 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 PNQI, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fdni-vs-pnqi Free to use with attribution; the underlying files are at Open data.