Data as of .
FRWD vs XT: which is really different?
FRWD and XT hold 18% 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
18% 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 XT hold 18% of their money in the same securities at the same weight.
| Holding | FRWD | XT |
|---|---|---|
| Amazon.com, Inc. | 2.82% | 2.71% |
| Broadcom, Inc. | 4.67% | 1.86% |
| Seagate Technology Holdings plc | 7.77% | 0.20% |
| Western Digital Corp. | 5.05% | 0.16% |
| Only in FRWD | Only in XT |
|---|---|
| NVIDIA Corp. 8.12% | TESLA INC 4.10% |
| Advanced Micro Devices, Inc. 7.83% | TEXAS INSTRUMENT INC 4.06% |
| Lam Research Corp. 6.67% | ELI LILLY 4.00% |
| Taiwan Semiconductor Manufacturing Co. L 6.33% | MICROSOFT 3.94% |
| Micron Technology, Inc. 5.16% | NVIDIA 3.85% |
| ASML Holding NV 5.09% | PALO ALTO NETWORKS 3.43% |
| Samsung Electronics Co. Ltd. 4.15% | JOHNSON & JOHNSON 3.13% |
| Texas Instruments, Inc. 3.78% | ANALOG DEVICES 3.03% |
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 | XT | FRWD | XT | FRWD | XT | |
| 3 months | −8.0% | 0.0% | −10.2 pts | −2.3 pts | −5.5 pts | +2.5 pts |
| 6 months | +36.3% | +22.9% | +18.3 pts | +4.8 pts | +12.1 pts | −1.4 pts |
| 1 year | not published | +24.4% | not published | +7.8 pts | not published | +2.6 pts |
| 3 years | not published | +67.9% | not published | −10.5 pts | not published | −30.2 pts |
| Since launch | +27.3% | +284.5% | +16.6 pts | −56.6 pts | +11.8 pts | −342.6 pts |
| FRWD Nomura Transformational Technologies ETF Holds 25 stocks in broad innovation and megatrends, 70% of its weight in S&P 500 companies | XT iShares Future Exponential Technologies ETF Holds 225 stocks in broad innovation and megatrends, 64% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Nomura | iShares |
| Theme | Broad innovation and megatrends | Broad innovation and megatrends |
| In the S&P 500 | 70.1% | 64.5% |
| Active share vs the S&P 500 | 74.3% | 67.5% |
| In the Nasdaq-100 | 77.7% | 39.4% |
| Holdings | 25 | 225 |
| Top ten, share of the fund | 60.8% | 33.9% |
| Expense ratio | 0.65% | 0.46% |
| Fee for the differing part | 0.87% | 0.68% |
| Total return, 1 year | +27.3% (since launch on Jan 13, 2026) | +24.4% |
| vs the S&P 500 | +16.6 pts | +7.8 pts |
| vs the Nasdaq-100 | +11.8 pts | +2.6 pts |
| Below its high | −8.0% | −1.9% |
| Net assets | $285m | $4.0bn |
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.
XT in plain words
By weight, 64% of XT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 68%. The top ten holdings are 34% of the fund across 225 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +24.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 7.8 pts.
Questions people ask
- Do FRWD and XT hold the same stocks?
- By their latest filings, 18% 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 XT?
- FRWD has 70% of its weight in S&P 500 names and XT has 64%, so FRWD differs more from the index.
- Which is cheaper, FRWD or XT?
- FRWD charges 0.65% a year and XT charges 0.46%, so XT 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 XT, data as of Sep 18, 2026. https://etfiq.com/compare/themes/frwd-vs-xt Free to use with attribution; the underlying files are at Open data.