Data as of .
FRWD vs XDAT: which is really different?
FRWD and XDAT hold 11% of their weight in the same names.
ETFIQ Off-Index Score: XDAT 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
11% 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 XDAT hold 11% of their money in the same securities at the same weight.
| Holding | FRWD | XDAT |
|---|---|---|
| Alphabet, Inc. | 3.22% | 9.76% |
| Microsoft Corp. | 2.82% | 3.55% |
| Western Digital Corp. | 5.05% | 1.53% |
| Netflix, Inc. | 3.28% | 0.92% |
| ServiceNow, Inc. | 1.75% | 0.81% |
| Celestica, Inc. | 2.69% | 0.75% |
| Cadence Design Systems, Inc. | 1.83% | 0.68% |
| Only in FRWD | Only in XDAT |
|---|---|
| NVIDIA Corp. 8.12% | CLOUDFLARE INC 10.14% |
| Advanced Micro Devices, Inc. 7.83% | META PLATFORMS INC 6.43% |
| Seagate Technology Holdings plc 7.77% | SNOWFLAKE INC 5.03% |
| Lam Research Corp. 6.67% | APPLOVIN CORP 5.02% |
| Taiwan Semiconductor Manufacturing Co. L 6.33% | PALO ALTO NETWORKS INC 4.54% |
| Micron Technology, Inc. 5.16% | CROWDSTRIKE HOLDINGS INC 4.39% |
| ASML Holding NV 5.09% | DATADOG INC 4.11% |
| Broadcom, Inc. 4.67% | MONGODB INC 3.75% |
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 | XDAT | FRWD | XDAT | FRWD | XDAT | |
| 3 months | −8.0% | +10.6% | −10.2 pts | +8.3 pts | −5.5 pts | +13.1 pts |
| 6 months | +36.3% | +23.9% | +18.3 pts | +5.9 pts | +12.1 pts | −0.3 pts |
| 1 year | not published | −4.8% | not published | −21.4 pts | not published | −26.6 pts |
| 3 years | not published | +47.1% | not published | −31.3 pts | not published | −51.1 pts |
| Since launch | +27.3% | +9.1% | +16.6 pts | −108.2 pts | +11.8 pts | −127.9 pts |
| FRWD Nomura Transformational Technologies ETF Holds 25 stocks in broad innovation and megatrends, 70% of its weight in S&P 500 companies | XDAT Franklin Exponential Data ETF Holds 59 stocks in broad innovation and megatrends, 61% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Nomura | Franklin |
| Theme | Broad innovation and megatrends | Broad innovation and megatrends |
| In the S&P 500 | 70.1% | 61.1% |
| Active share vs the S&P 500 | 74.3% | 86.2% |
| In the Nasdaq-100 | 77.7% | 49.6% |
| Holdings | 25 | 59 |
| Top ten, share of the fund | 60.8% | 56.7% |
| Expense ratio | 0.65% | 0.50% |
| Fee for the differing part | 0.87% | 0.58% |
| Total return, 1 year | +27.3% (since launch on Jan 13, 2026) | −4.8% |
| vs the S&P 500 | +16.6 pts | −21.4 pts |
| vs the Nasdaq-100 | +11.8 pts | −26.6 pts |
| Below its high | −8.0% | −12.3% |
| Net assets | $285m | $4m |
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.
XDAT in plain words
By weight, 61% of XDAT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 86%. The top ten holdings are 57% of the fund across 59 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −4.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 21.4 pts. It sits 12.3% below its all-time high of Nov 9, 2021.
Questions people ask
- Do FRWD and XDAT hold the same stocks?
- By their latest filings, 11% 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 XDAT?
- FRWD has 70% of its weight in S&P 500 names and XDAT has 61%, so XDAT differs more from the index.
- Which is cheaper, FRWD or XDAT?
- FRWD charges 0.65% a year and XDAT charges 0.50%, so XDAT 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 XDAT, data as of Sep 18, 2026. https://etfiq.com/compare/themes/frwd-vs-xdat Free to use with attribution; the underlying files are at Open data.