Data as of .
FRWD vs INVN: which is really different?
FRWD and INVN hold 0% of their weight in the same names.
ETFIQ Off-Index Score: INVN 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
0% 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 INVN hold 0% of their money in the same securities at the same weight.
| Only in FRWD | Only in INVN |
|---|---|
| NVIDIA Corp. 8.12% | ROBLOX CORP 2.56% |
| Advanced Micro Devices, Inc. 7.83% | ZEBRA TECHNOLOGIES CORP 2.38% |
| Seagate Technology Holdings plc 7.77% | EXPEDIA GROUP INC 2.29% |
| Lam Research Corp. 6.67% | MAPLEBEAR INC 2.25% |
| Taiwan Semiconductor Manufacturing Co. L 6.33% | BLOCK INC 2.23% |
| Micron Technology, Inc. 5.16% | ZSCALER INC 2.21% |
| ASML Holding NV 5.09% | BILL HOLDINGS INC 2.18% |
| Western Digital Corp. 5.05% | BIOGEN INC 2.18% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FRWD | INVN | FRWD | INVN | FRWD | INVN | |
| 3 months | −8.0% | +24.7% | −10.2 pts | +22.4 pts | −5.5 pts | +27.2 pts |
| 6 months | +36.3% | +37.7% | +18.3 pts | +19.6 pts | +12.1 pts | +13.4 pts |
| 1 year | not published | +20.7% | not published | +4.2 pts | not published | −1.1 pts |
| Since launch | +27.3% | +29.2% | +16.6 pts | −2.8 pts | +11.8 pts | −11.9 pts |
| FRWD Nomura Transformational Technologies ETF Holds 25 stocks in broad innovation and megatrends, 70% of its weight in S&P 500 companies | INVN Alger Russell Innovation ETF Holds 50 stocks in broad innovation and megatrends, 32% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Nomura | Alger |
| Theme | Broad innovation and megatrends | Broad innovation and megatrends |
| In the S&P 500 | 70.1% | 32.5% |
| Active share vs the S&P 500 | 74.3% | 98.5% |
| In the Nasdaq-100 | 77.7% | 9.8% |
| Holdings | 25 | 50 |
| Top ten, share of the fund | 60.8% | 22.6% |
| Expense ratio | 0.65% | 0.55% |
| Fee for the differing part | 0.87% | 0.56% |
| Total return, 1 year | +27.3% (since launch on Jan 13, 2026) | +20.7% |
| vs the S&P 500 | +16.6 pts | +4.2 pts |
| vs the Nasdaq-100 | +11.8 pts | −1.1 pts |
| Below its high | −8.0% | −5.6% |
| Net assets | $285m | $10m |
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.
INVN in plain words
By weight, 32% of INVN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 23% of the fund across 50 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +20.7% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 4.2 pts. It sits 5.6% below its all-time high of Sep 3, 2026.
Questions people ask
- Do FRWD and INVN hold the same stocks?
- By their latest filings, 0% 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, FRWD or INVN?
- FRWD has 70% of its weight in S&P 500 names and INVN has 32%, so INVN differs more from the index.
- Which is cheaper, FRWD or INVN?
- FRWD charges 0.65% a year and INVN charges 0.55%, so INVN 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 INVN, data as of Sep 18, 2026. https://etfiq.com/compare/themes/frwd-vs-invn Free to use with attribution; the underlying files are at Open data.