Data as of .
FMQQ vs ISHP: which is really different?
FMQQ and ISHP hold 7% of their weight in the same names, and ISHP returned more over the year.
ETFIQ Off-Index Score: FMQQ 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
7% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FMQQ and ISHP hold 7% of their money in the same securities at the same weight.
| Holding | FMQQ | ISHP |
|---|---|---|
| Allegro.eu SA | 2.71% | 2.11% |
| NAVER Corporation | 3.54% | 1.94% |
| MercadoLibre, Inc. | 8.13% | 1.63% |
| COUPANG, INC. | 2.73% | 1.24% |
| Only in FMQQ | Only in ISHP |
|---|---|
| BAJAJ FINANCE LIMITED 8.21% | A.P. Moeller - Maersk A/S (Class B) 2.36% |
| RELIANCE INDUSTRIES LIMITED 7.90% | LY Corp. 2.07% |
| Eternal Ltd 7.83% | Cosco Shipping Holdings Company, Ltd. (Class H) 1.98% |
| Nu Holdings Ltd. 7.49% | Snap Inc. (Class A) 1.95% |
| SEA LIMITED 6.47% | Best Buy Co., Inc. 1.93% |
| Joint Stock Company Kaspi.kz 6.43% | PayPal Holdings, Inc. 1.92% |
| GRAB HOLDINGS LIMITED 3.96% | Taiwan Mobile Co., Ltd. 1.92% |
| JIO FINANCIAL SERVICES LIMITED 3.79% | Global Payments Inc. 1.90% |
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 May 31, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FMQQ | ISHP | FMQQ | ISHP | FMQQ | ISHP | |
| 3 months | +5.7% | +2.5% | +3.4 pts | +0.3 pts | +8.2 pts | +5.0 pts |
| 6 months | +11.2% | +4.2% | −6.8 pts | −13.8 pts | −13.0 pts | −20.1 pts |
| 1 year | −21.2% | −19.2% | −37.8 pts | −35.8 pts | −43.0 pts | −41.0 pts |
| 3 years | +16.0% | +35.3% | −62.4 pts | −43.1 pts | −82.2 pts | −62.8 pts |
| Since launch | −50.2% | +91.9% | −138.0 pts | −226.2 pts | −156.5 pts | −465.2 pts |
| FMQQ FMQQ The Next Frontier Internet ETF Holds 38 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | ISHP First Trust S-Network E-Commerce ETF Holds 66 stocks in internet and e-commerce, 40% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | EMQQ Global | First Trust |
| Theme | Internet and e-commerce | Internet and e-commerce |
| In the S&P 500 | 0.0% | 39.9% |
| Active share vs the S&P 500 | 100.0% | 92.6% |
| In the Nasdaq-100 | 8.1% | 20.3% |
| Holdings | 38 | 66 |
| Top ten, share of the fund | 63.7% | 20.1% |
| Expense ratio | 0.86% | 0.60% |
| Fee for the differing part | 0.86% | 0.65% |
| Total return, 1 year | −21.2% | −19.2% |
| vs the S&P 500 | −37.8 pts | −35.8 pts |
| vs the Nasdaq-100 | −43.0 pts | −41.0 pts |
| Below its high | −51.8% | −19.2% |
| Net assets | $20m | $5m |
FMQQ in plain words
By weight, 0% of FMQQ'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 38 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned −21.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 37.8 pts. It sits 51.8% below its all-time high of Oct 19, 2021.
ISHP in plain words
By weight, 40% of ISHP's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 93%. The top ten holdings are 20% of the fund across 66 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −19.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 35.8 pts. It sits 19.2% below its all-time high of Sep 18, 2025.
Questions people ask
- Do FMQQ and ISHP hold the same stocks?
- By their latest filings, 7% 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, FMQQ or ISHP?
- FMQQ has 0% of its weight in S&P 500 names and ISHP has 40%, so FMQQ differs more from the index.
- Which is cheaper, FMQQ or ISHP?
- FMQQ charges 0.86% a year and ISHP charges 0.60%, so ISHP 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, FMQQ against ISHP, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fmqq-vs-ishp Free to use with attribution; the underlying files are at Open data.