Do FRWD and XT hold the same stocks?

By their latest filings, 16% 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 XT?

FRWD has 70% of its weight in S&P 500 names and XT has 65%, 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.

Data as of Nov 4, 2026.

Thematic ETFs

FRWD vs XT: Holdings Overlap & Returns

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FRWD and XT hold 16% of their weight in the same names.

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Net assets: $285m on Jun 30, 2026 for Nomura Transformational Technologies ETF, and $4.0bn on Nov 4, 2026 for iShares Future Exponential Technologies ETF.

FRWD on its own →XT on its own →

At a glance

69.9%

FRWD in the S&P 500

65.0%

XT in the S&P 500

+15.0%

FRWD total return, since launch, Jan 13, 2026

+23.4%

XT total return, 1 year

FRWD · 6 months to Nov 4, 2026 30% of its weight is outside the S&P 500

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

XT · 1 year to Nov 4, 2026 35% of its weight is outside the S&P 500

65% of XT's weight is in S&P 500 companies and 35% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

XT costs 0.19 points a year less.

Points (pts) are percentage points.

FRWD vs XT: Holdings Overlap & Returns
Measure	FRWD	XT
Return
Measure	FRWD	XT
Total return, 1 year	not published	+23.4%
Drawdown
Measure	FRWD	XT
Below its all-time high	16.9%, high on Jun 18, 2026
Against its benchmark
Measure	FRWD	XT
What it tracks	Broad innovation and megatrends	Broad innovation and megatrends
Against its benchmark, 1 year		ahead by 8.4 pts
Cost and size
Measure	FRWD	XT
Expense ratio	0.65%	0.46%
Net assets, FRWD as of Jun 30, 2026 and XT as of Nov 4, 2026	$285m	$4.0bn
Holdings
Measure	FRWD	XT
Holdings in common	16%
Top ten holdings, share of the fund	61%	36%

ETFIQ S&P 500 Difference Score · FRWD scores higher How much of its weight does it not share with the S&P 500?

IQ Themes Score21.9FRWD15.4XT

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

FRWD 21.9

XT 15.4

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

16%

By the books each fund has filed, FRWD and XT hold 16% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

16% in common

Positions both hold · largest shared weight first FRWD XT

NVIDIA Corp. 8.09% 3.53%

Microsoft Corp. 2.81% 4.10%

Amazon.com, Inc. 2.81% 2.64%

Alphabet, Inc. 3.20% 1.75%

Taiwan Semiconductor Manufacturing Co. Ltd. 6.30% 1.75%

Broadcom, Inc. 4.65% 1.70%

Micron Technology, Inc. 5.14% 0.97%

Advanced Micro Devices, Inc. 7.80% 0.83%

Seagate Technology Holdings plc 7.74% 0.14%

Western Digital Corp. 5.04% 0.13%

Cadence Design Systems, Inc. 1.82% 0.11%

Only in one fund ↓

Only in FRWD

Lam Research Corp. 6.64%

ASML Holding NV 5.07%

Samsung Electronics Co. Ltd. 4.14%

Texas Instruments, Inc. 3.77%

DoorDash, Inc. 3.29%

Netflix, Inc. 3.27%

Celestica, Inc. 2.68%

Space Exploration Technologies Corp. 2.49%

Only in XT

ELI LILLY 4.83%

TEXAS INSTRUMENT 4.69%

TESLA INC 4.43%

ANALOG DEVICES 3.34%

PALO ALTO NETWORKS 3.26%

JOHNSON & JOHNSON 3.04%

CROWDSTRIKE HOLDINGS CLASS A 2.63%

ABBVIE 2.48%

Check overlap with more funds →

Window by window

Window by window: FRWD vs XT: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	FRWD	XT	FRWD	XT
3 months	−10.7%	+2.8%	not measured	+4.1 pts vs ACWI
6 months	−5.2%	+7.5%	not measured	+4.9 pts vs ACWI
1 year	–	+23.4%	–	+8.4 pts vs ACWI
3 years	–	+78.5%	–	+0.9 pts vs ACWI
Since launchNot the same days: FRWD Jan 2026 · XT Mar 2015	+15.0%	+293.9%	not measured	+69.3 pts vs ACWI

– 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 XT iShares Future Exponential Technologies ETF · Holds 196 stocks in broad innovation and megatrends, 65% 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 69.9% 65.0%

Active share vs the S&P 500 74.4% 69.8%

In the Nasdaq-100 79.9% 39.9%

Holdings 25 196

Top ten, share of the fund 60.6% 36.5%

Expense ratio 0.65% 0.46%

Fee for the differing part 0.87% 0.66%

Total return, 1 year +15.0% (since launch, Jan 13, 2026) +23.4%

vs its benchmark not measured +8.4 pts vs ACWI

Below its high −16.9% −1.5%

Net assets, FRWD as of Jun 30, 2026 and XT as of Nov 4, 2026 $285m $4.0bn

As of Nov 4, 2026. Source: ETFIQ.

16% of the two portfolios are the same securities at the same weight.

Alert

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.

By weight, 65% of XT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 70%. The top ten holdings are 36% of the fund across 196 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +23.4% with distributions reinvested against +15.0% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 8.4 pts.

Questions people ask

Do FRWD and XT hold the same stocks?: By their latest filings, 16% 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 XT?: FRWD has 70% of its weight in S&P 500 names and XT has 65%, 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

FRWD vs ARKK FRWD vs QQQJ FRWD vs TMAT FRWD vs LFSC XT vs ARKK XT vs ABOT XT vs ILDR XT vs GTEK

Where to next

FRWD on its own →XT on its own →FRWD holdings →XT dividend history →XT holdings →Method →Standards and sources →

Sources and dates

FRWD filings on SEC EDGAR ↗

FRWD prospectus with the expense ratio (SEC) ↗

Nomura website ↗

XT filings on SEC EDGAR ↗

XT prospectus with the expense ratio (SEC) ↗

iShares page for XT ↗

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

How this is computed

It is a place in a set, not a rating or a recommendation.

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 XT, data as of Nov 4, 2026. https://etfiq.com/compare/themes/frwd-vs-xt

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