Do ILDR and TMAT hold the same stocks?

By their latest filings, 14% 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, ILDR or TMAT?

ILDR has 66% of its weight in S&P 500 names and TMAT has 50%, so TMAT differs more from the index.

Which is cheaper, ILDR or TMAT?

ILDR charges 0.75% a year and TMAT charges 0.79%, so ILDR is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

ILDR vs TMAT: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, ILDR returned +6.6% to TMAT's −3.1%; 14% of their weight is in the same names.

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Net assets: $334m on Nov 3, 2026 for First Trust Innovation Leaders ETF, and $237m on Jul 31, 2026 for Main Thematic Innovation ETF.

ILDR on its own →TMAT on its own →

At a glance

65.5%

ILDR in the S&P 500

50.3%

TMAT in the S&P 500

+6.6%

ILDR total return, 1 year

−3.1%

TMAT total return, 1 year

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

66% of ILDR's weight is in S&P 500 companies and 35% is outside the index. Holdings as of Nov 3, 2026.

TMAT · 1 year to Nov 4, 2026 50% of its weight is outside the S&P 500

50% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

ILDR costs 0.04 points a year less; their one-year returns differ by 9.7 points.

Points (pts) are percentage points.

ILDR vs TMAT: Holdings Overlap & Returns
Measure	ILDR	TMAT
Return
Measure	ILDR	TMAT
Total return, 1 year	+6.6%	−3.1%
Drawdown
Measure	ILDR	TMAT
Below its all-time high	12.5%, high on Oct 6, 2026	15.9%, high on Jun 30, 2026
Against its benchmark
Measure	ILDR	TMAT
What it tracks	Broad innovation and megatrends	Broad innovation and megatrends
Its benchmark, total return, 1 year	+14.8%	+15.0%
Against its benchmark, 1 year	behind by 8.2 pts	behind by 18.1 pts
Cost and size
Measure	ILDR	TMAT
Expense ratio	0.75%	0.79%
Net assets, ILDR as of Nov 3, 2026 and TMAT as of Jul 31, 2026	$334m	$237m
Holdings
Measure	ILDR	TMAT
Holdings in common	14%

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

IQ Themes Score10.1ILDR61.4TMAT

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

ILDR 10.1

TMAT 61.4

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

Risk and return

Jun 4, 2021 to Oct 30, 2026 · 282 weekly returns

ILDR TMAT

Return

Total return edge ILDR +76.0% +18.6%

Annualized edge ILDR +11.0% +3.2%

Price return edge ILDR +75.7% +18.0%

Risk

Volatility edge ILDR 24.7% 28.5%

Max drawdown edge ILDR −42.5% −51.6%

Downside capture 126.4% 137.1%

Beta 1.38 1.58

Risk-adjusted

Sharpe edge ILDR 0.40 0.12

Sortino edge ILDR 0.58 0.18

Treynor 0.071 0.006

Calmar edge ILDR 0.26 0.06

Against the benchmark

Alpha −2.2% a year −11.7% a year

Alpha t-stat −0.46 −1.72

Information ratio 0.09 −0.38

Tracking error 12.5% 18.4%

Each against its own benchmark: ILDR against IWV, Jun 4, 2021 to Oct 30, 2026; TMAT against ACWI, Feb 5, 2021 to Oct 30, 2026.

Reading

From Jun 2021 to Oct 2026, ILDR returned more: +76.0% to +18.6%. ILDR swung less: 24.7% to 28.5%. ILDR fell less at its worst: −42.5% to −51.6%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: ILDR vs TMAT: Holdings Overlap & Returns
Measure	ILDR	TMAT	Edge	How it is measured
Return
Total return	+76.0%	+18.6%	ILDR	Price change plus distributions, reinvested.
Annualized	+11.0%	+3.2%	ILDR	Total return as a yearly rate.
Price return	+75.7%	+18.0%	ILDR	Price change alone, distributions left out.
Risk
Volatility	24.7%	28.5%	ILDR	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	16.8%	20.0%	ILDR	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−42.5%	−51.6%	ILDR	Deepest fall from a high to the low after it.
Upside capture	171.8%	171.0%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	126.4%	137.1%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.38	1.58	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.81	0.68	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.40	0.12	ILDR	Return above Treasury bills per unit of volatility.
Sortino	0.58	0.18	ILDR	Return above Treasury bills per unit of downside deviation.
Treynor	0.071	0.006		Return above Treasury bills per unit of beta.
Calmar	0.26	0.06	ILDR	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	IWV	ACWI		The ETF each fund is measured against.
Alpha	−2.2% a year	−11.7% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.46	−1.72	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−11.4% to +7.1%	−25.1% to +1.7%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.09	−0.38		Return against its benchmark per unit of tracking error.
Tracking error	12.5%	18.4%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 282 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

14%

By the books each fund has filed, ILDR and TMAT hold 14% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

14% in common

Positions both hold · largest shared weight first ILDR TMAT

Micron Technology, Inc. 2.56% 4.23%

Advanced Micro Devices, Inc. 5.45% 2.06%

Rubrik, Inc. (Class A) 1.54% 1.86%

Marvell Technology, Inc. 2.40% 1.15%

Palo Alto Networks, Inc. 1.05% 4.46%

GE Vernova Inc. 0.91% 1.43%

CrowdStrike Holdings, Inc. (Class A) 0.70% 2.77%

Cloudflare, Inc. (Class A) 0.58% 1.81%

Vertiv Holdings Co (Class A) 0.57% 1.31%

Constellation Energy Corporation 0.56% 0.91%

Zscaler, Inc. 0.75% 0.52%

Vistra Corp. 0.45% 1.23%

Only in one fund ↓

Only in ILDR

NVIDIA Corporation 9.90%

Amazon.com, Inc. 6.23%

Alphabet Inc. (Class A) 4.20%

Eli Lilly and Company 4.02%

Broadcom Inc. 3.61%

Microsoft Corporation 3.11%

Oracle Corporation 2.48%

Arista Networks, Inc. 2.28%

Only in TMAT

FORTINET INC 2.63%

CLEAR SECURE INC 2.43%

VICOR CORP 2.18%

HINGE HEALTH INC 2.09%

LUMENTUM HOLDINGS INC 2.06%

KEYSIGHT TECHNOLOGIES INC 1.95%

BENTLEY SYSTEMS INC 1.88%

VARONIS SYSTEMS INC 1.76%

Check overlap with more funds →

Window by window

Window by window: ILDR vs TMAT: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	ILDR	TMAT	ILDR	TMAT
3 months	−7.4%	−9.4%	−7.1 pts vs IWV	−8.1 pts vs ACWI
6 months	−1.8%	−4.9%	−6.7 pts vs IWV	−7.5 pts vs ACWI
1 year	+6.6%	−3.1%	−8.2 pts vs IWV	−18.1 pts vs ACWI
3 years	+107.0%	+92.3%	+26.0 pts vs IWV	+14.7 pts vs ACWI
Since launchNot the same days: ILDR May 2021 · TMAT Jan 2021	+75.9%	+7.5%	−10.3 pts vs IWV	−85.1 pts vs ACWI

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Side by side

ILDR First Trust Innovation Leaders ETF · Holds 81 stocks in broad innovation and megatrends, 66% of its weight in S&P 500 companies TMAT Main Thematic Innovation ETF · Holds 87 stocks in broad innovation and megatrends, 50% of its weight in S&P 500 companies

Issuer First Trust Main

Theme Broad innovation and megatrends Broad innovation and megatrends

In the S&P 500 65.5% 50.3%

Active share vs the S&P 500 66.9% 91.6%

In the Nasdaq-100 48.8% 29.4%

Holdings 81 87

Top ten, share of the fund 44.0% 26.9%

Expense ratio 0.75% 0.79%

Fee for the differing part 1.12% 0.86%

Total return, 1 year +6.6% −3.1%

vs its benchmark −8.2 pts vs IWV −18.1 pts vs ACWI

Below its high −12.5% −15.9%

Net assets, ILDR as of Nov 3, 2026 and TMAT as of Jul 31, 2026 $334m $237m

As of Nov 4, 2026. Source: ETFIQ.

14% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

ILDR

Over the year to Nov 4, 2026 the fund returned +6.6% with distributions reinvested against +14.8% for its benchmark, the Russell 3000 Index, so a holder was behind by 8.2 pts.

By weight, 66% of ILDR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 67%. The top ten holdings are 44% of the fund across 81 positions, as published by its issuer for Nov 3, 2026. It sits 12.5% below its all-time high of Oct 6, 2026.

TMAT

By weight, 50% of TMAT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 27% of the fund across 87 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned −3.1% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index Net, so a holder was behind by 18.1 pts. It sits 15.9% below its all-time high of Jun 30, 2026.

Questions people ask

Do ILDR and TMAT hold the same stocks?: By their latest filings, 14% 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, ILDR or TMAT?: ILDR has 66% of its weight in S&P 500 names and TMAT has 50%, so TMAT differs more from the index.
Which is cheaper, ILDR or TMAT?: ILDR charges 0.75% a year and TMAT charges 0.79%, so ILDR is cheaper. Fees come from each fund's prospectus.

Other comparisons

ILDR vs FRWD ILDR vs FDTX ILDR vs FITE ILDR vs LFSC TMAT vs AOTG TMAT vs FDCF TMAT vs FDFF TMAT vs CARZ

Where to next

ILDR on its own →TMAT on its own →ILDR holdings →TMAT dividend history →TMAT holdings →Method →Standards and sources →

Sources and dates

ILDR filings on SEC EDGAR ↗

ILDR prospectus with the expense ratio (SEC) ↗

First Trust page for ILDR ↗

TMAT filings on SEC EDGAR ↗

TMAT prospectus with the expense ratio (SEC) ↗

Main website ↗

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, ILDR against TMAT, data as of Nov 4, 2026. https://etfiq.com/compare/themes/ildr-vs-tmat

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