IQ

Data as of Nov 4, 2026.

vsOpen in the appCompare their flowsaskIQ about these two fundsAsk the committee about these two funds
Thematic ETFs

FRWD vs INVN: Holdings Overlap & Returns

Share
Share on XDownload as PDF

FRWD and INVN hold 0% of their weight in the same names.

askIQ about this page

askIQ about FRWD and INVN

Net assets on Jun 30, 2026: $285m for Nomura Transformational Technologies ETF and $9.6m for Alger Russell Innovation ETF.

FRWD on its own →INVN on its own →
At a glance
69.9%
FRWD in the S&P 500
32.5%
INVN in the S&P 500
+15.0%
FRWD total return, since launch, Jan 13, 2026
+33.1%
INVN total return, 1 year
FRWD · 6 months to Nov 4, 2026 30% of its weight is outside the S&P 500
30% of its weight is outside the S&P 50070% of FRWD's weight is in S&P 500 companies and 30% is outside the index. Holdings as of Jun 30, 2026.70%30%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 74% · top ten 61% of the fund · 25 holdings as filed for Jun 30, 2026 · Nasdaq-100: 80% in30% of its weight is outside the S&P 50070% of FRWD's weight is in S&P 500 companies and 30% is outside the index. Holdings as of Jun 30, 2026.70%30%in the S&P 500outsideactive share 74% · Nasdaq-100: 80% in

70% of FRWD's weight is in S&P 500 companies and 30% is outside the index. Holdings as of Jun 30, 2026.

INVN · 1 year to Nov 4, 2026 68% of its weight is outside the S&P 500
68% of its weight is outside the S&P 50033% of INVN's weight is in S&P 500 companies and 68% is outside the index. Holdings as of Jun 30, 2026.33%68%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 99% · top ten 23% of the fund · 50 holdings as filed for Jun 30, 2026 · Nasdaq-100: 8% in68% of its weight is outside the S&P 50033% of INVN's weight is in S&P 500 companies and 68% is outside the index. Holdings as of Jun 30, 2026.33%68%inoutside the S&P 500active share 99% · Nasdaq-100: 8% in

33% of INVN's weight is in S&P 500 companies and 68% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

INVN costs 0.10 points a year less; FRWD is far larger, $285m against $9.6m.

FRWD vs INVN: Holdings Overlap & Returns
MeasureFRWDINVN
Return
Total return, 1 yearnot published+33.1%
Drawdown
Below its all-time high16.9%, high on Jun 18, 2026
Benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Cost and size
Expense ratio0.65%0.55%
Net assets, as of Jun 30, 2026$285m$9.6m
Active share vs the S&P 50074%98%
Holdings
Holdings in common0%

Method

What they share

0%

By the books each fund has filed, FRWD and INVN hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first FRWD INVN
Only in one fund ↓
Only in FRWD
NVIDIA Corp. 8.09%
Advanced Micro Devices, Inc. 7.80%
Seagate Technology Holdings plc 7.74%
Lam Research Corp. 6.64%
Taiwan Semiconductor Manufacturing Co. Ltd. 6.30%
Micron Technology, Inc. 5.14%
ASML Holding NV 5.07%
Western Digital Corp. 5.04%
Only in INVN
ROBLOX CORP 2.57%
ZEBRA TECHNOLOGIES CORP 2.38%
EXPEDIA GROUP INC 2.29%
MAPLEBEAR INC 2.25%
BLOCK INC 2.24%
ZSCALER INC 2.22%
BILL HOLDINGS INC 2.19%
BIOGEN INC 2.18%
Check overlap with more funds →

Window by window

Window by window: FRWD vs INVN: Holdings Overlap & Returns
Total return
WindowFRWDINVN
3 months−10.7%+9.6%
6 months−5.2%+33.7%
1 year–+33.1%
Since launchNot the same days: FRWD Jan 2026 · INVN Jan 2025+15.0%+37.1%

– means no data for this window. Open this comparison in the app →

Side by side

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 69.9% 32.5%
Active share vs the S&P 500 74.4% 98.5%
In the Nasdaq-100 79.9% 7.6%
Holdings 25 50
Top ten, share of the fund 60.6% 22.6%
Expense ratio 0.65% 0.55%
Fee for the differing part 0.87% 0.56%
Total return, 1 year +15.0% (since launch, Jan 13, 2026) +33.1%
vs its benchmark not measured not measured
Below its high −16.9% −0.9%
Net assets, as of Jun 30, 2026 $285m $9.6m

As of Nov 4, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Alert

The week's ETF fund flows, by email on Sundays.

One-click unsubscribe. See Privacy.

About each fund
FRWD

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 first traded on Jan 13, 2026 the fund returned +15.0% with distributions reinvested. It sits 16.9% below its all-time high of Jun 18, 2026.

INVN

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 Nov 4, 2026 the fund returned +33.1% with distributions reinvested.

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. 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
FRWD vs BULDFRWD vs GXDWFRWD vs ABOTFRWD vs XDATINVN vs QQQJINVN vs ARKKINVN vs ABOTINVN vs XDAT
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →FRWD on its own →INVN on its own →FRWD holdings →INVN dividend history →INVN holdings →Method →Standards and sources →
Sources and dates
FRWD filings on SEC EDGAR ↗
FRWD prospectus with the expense ratio (SEC) ↗
Nomura website ↗
INVN filings on SEC EDGAR ↗
INVN prospectus with the expense ratio (SEC) ↗
Alger website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, FRWD against INVN, data as of Nov 4, 2026. https://etfiq.com/compare/themes/frwd-vs-invn

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.