Data as of .
FRWD vs ILDR: which is really different?
FRWD and ILDR hold 33% of their weight in the same names.
ETFIQ Off-Index Score: FRWD 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
33% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FRWD and ILDR hold 33% of their money in the same securities at the same weight.
| Holding | FRWD | ILDR |
|---|---|---|
| Advanced Micro Devices, Inc. | 7.83% | 5.79% |
| Broadcom, Inc. | 4.67% | 3.57% |
| Amazon.com, Inc. | 2.82% | 5.79% |
| Micron Technology, Inc. | 5.16% | 2.80% |
| ServiceNow, Inc. | 1.75% | 1.24% |
| Spotify Technology SA | 2.39% | 0.68% |
| Only in FRWD | Only in ILDR |
|---|---|
| NVIDIA Corp. 8.12% | NVIDIA Corporation 9.78% |
| Seagate Technology Holdings plc 7.77% | Alphabet Inc. (Class A) 4.81% |
| Lam Research Corp. 6.67% | Marvell Technology, Inc. 3.13% |
| Taiwan Semiconductor Manufacturing Co. L 6.33% | Eli Lilly and Company 3.02% |
| ASML Holding NV 5.09% | Microsoft Corporation 2.70% |
| Western Digital Corp. 5.05% | Oracle Corporation 2.67% |
| Samsung Electronics Co. Ltd. 4.15% | Arista Networks, Inc. 2.46% |
| Texas Instruments, Inc. 3.78% | Eaton Corporation Plc 2.07% |
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 Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FRWD | ILDR | FRWD | ILDR | FRWD | ILDR | |
| 3 months | −8.0% | +0.3% | −10.2 pts | −1.9 pts | −5.5 pts | +2.8 pts |
| 6 months | +36.3% | +31.0% | +18.3 pts | +12.9 pts | +12.1 pts | +6.7 pts |
| 1 year | not published | +19.9% | not published | +3.3 pts | not published | −1.9 pts |
| 3 years | not published | +120.9% | not published | +42.5 pts | not published | +22.7 pts |
| Since launch | +27.3% | +92.7% | +16.6 pts | −3.0 pts | +11.8 pts | −30.0 pts |
| FRWD Nomura Transformational Technologies ETF Holds 25 stocks in broad innovation and megatrends, 70% of its weight in S&P 500 companies | ILDR First Trust Innovation Leaders ETF Holds 82 stocks in broad innovation and megatrends, 66% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Nomura | First Trust |
| Theme | Broad innovation and megatrends | Broad innovation and megatrends |
| In the S&P 500 | 70.1% | 65.8% |
| Active share vs the S&P 500 | 74.3% | 67.1% |
| In the Nasdaq-100 | 77.7% | 49.0% |
| Holdings | 25 | 82 |
| Top ten, share of the fund | 60.8% | 44.1% |
| Expense ratio | 0.65% | 0.75% |
| Fee for the differing part | 0.87% | 1.12% |
| Total return, 1 year | +27.3% (since launch on Jan 13, 2026) | +19.9% |
| vs the S&P 500 | +16.6 pts | +3.3 pts |
| vs the Nasdaq-100 | +11.8 pts | −1.9 pts |
| Below its high | −8.0% | −3.5% |
| Net assets | $285m | $342m |
FRWD in plain words
By weight, 70% of FRWD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 74%. The top ten holdings are 61% of the fund across 25 positions, as filed for Jun 30, 2026. Since it launched on Jan 13, 2026 the fund returned +27.3% with distributions reinvested against +10.7% for the S&P 500, so a holder was ahead by 16.6 pts. It sits 8.0% below its all-time high of Jun 18, 2026.
ILDR in plain words
By weight, 66% of ILDR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 67%. The top ten holdings are 44% of the fund across 82 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +19.9% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 3.3 pts.
Questions people ask
- Do FRWD and ILDR hold the same stocks?
- By their latest filings, 33% 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, FRWD or ILDR?
- FRWD has 70% of its weight in S&P 500 names and ILDR has 66%, so FRWD differs more from the index.
- Which is cheaper, FRWD or ILDR?
- FRWD charges 0.65% a year and ILDR charges 0.75%, so FRWD 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, FRWD against ILDR, data as of Sep 18, 2026. https://etfiq.com/compare/themes/frwd-vs-ildr Free to use with attribution; the underlying files are at Open data.