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Data as of Nov 4, 2026.

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Thematic ETFs

INVN vs TMAT: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, INVN returned +33.1% to TMAT's −3.1%; 1% of their weight is in the same names.

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Net assets: $9.6m on Jun 30, 2026 for Alger Russell Innovation ETF, and $237m on Jul 31, 2026 for Main Thematic Innovation ETF.

INVN on its own →TMAT on its own →
At a glance
32.5%
INVN in the S&P 500
50.3%
TMAT in the S&P 500
+33.1%
INVN total return, 1 year
−3.1%
TMAT total return, 1 year
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.

TMAT · 1 year to Nov 4, 2026 50% of its weight is outside the S&P 500
50% of its weight is outside the S&P 50050% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.50%50%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 92% · top ten 27% of the fund · 87 holdings as filed for Jul 31, 2026 · Nasdaq-100: 29% in50% of its weight is outside the S&P 50050% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.50%50%in the S&P 500outside the S&P 500active share 92% · Nasdaq-100: 29% in

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

INVN costs 0.24 points a year less; their one-year returns differ by 36.2 points.

Points (pts) are percentage points.

INVN vs TMAT: Holdings Overlap & Returns
MeasureINVNTMAT
Return
Total return, 1 year+33.1%−3.1%
Drawdown
Below its all-time high15.9%, high on Jun 30, 2026
Against its benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Its benchmark, total return, 1 year+15.0%
Against its benchmark, 1 yearbehind by 18.1 pts
Cost and size
Expense ratio0.55%0.79%
Net assets, INVN as of Jun 30, 2026 and TMAT as of Jul 31, 2026$9.6m$237m
Active share vs the S&P 50098%92%
Holdings
Holdings in common1%

Method

What they share

1%

By the books each fund has filed, INVN and TMAT hold 1% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

0 half 100%

half

1% in common

Positions both hold · largest shared weight first INVN TMAT
TRIMBLE INC 1.98% 0.71%
ZSCALER INC 2.22% 0.52%
Only in one fund ↓
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%
BILL HOLDINGS INC 2.19%
BIOGEN INC 2.18%
CCC INTELLIGENT SOLUTIONS HOLDINGS INC 2.15%
Only in TMAT
PALO ALTO NETWORKS INC 4.46%
MICRON TECHNOLOGY INC 4.23%
CROWDSTRIKE HOLDINGS INC 2.77%
FORTINET INC 2.63%
CLEAR SECURE INC 2.43%
VICOR CORP 2.18%
HINGE HEALTH INC 2.09%
LUMENTUM HOLDINGS INC 2.06%
Check overlap with more funds →

Window by window

Window by window: INVN vs TMAT: Holdings Overlap & Returns
Total returnvs its benchmark
WindowINVNTMATINVNTMAT
3 months+9.6%−9.4%not measured−8.1 pts vs ACWI
6 months+33.7%−4.9%not measured−7.5 pts vs ACWI
1 year+33.1%−3.1%not measured−18.1 pts vs ACWI
3 years–+92.3%–+14.7 pts vs ACWI
Since launchNot the same days: INVN Jan 2025 · TMAT Jan 2021+37.1%+7.5%not measured−85.1 pts vs ACWI

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Side by side

INVN Alger Russell Innovation ETF · Holds 50 stocks in broad innovation and megatrends, 32% 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 Alger Main
Theme Broad innovation and megatrends Broad innovation and megatrends
In the S&P 500 32.5% 50.3%
Active share vs the S&P 500 98.5% 91.6%
In the Nasdaq-100 7.6% 29.4%
Holdings 50 87
Top ten, share of the fund 22.6% 26.9%
Expense ratio 0.55% 0.79%
Fee for the differing part 0.56% 0.86%
Total return, 1 year +33.1% −3.1%
vs its benchmark not measured −18.1 pts vs ACWI
Below its high −0.9% −15.9%
Net assets, INVN as of Jun 30, 2026 and TMAT as of Jul 31, 2026 $9.6m $237m

As of Nov 4, 2026. Source: ETFIQ.

1% of the two portfolios are the same securities at the same weight.

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About each fund
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.

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 INVN and TMAT hold the same stocks?
By their latest filings, 1% 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, INVN or TMAT?
INVN has 32% of its weight in S&P 500 names and TMAT has 50%, so INVN differs more from the index.
Which is cheaper, INVN or TMAT?
INVN charges 0.55% a year and TMAT charges 0.79%, so INVN is cheaper. Fees come from each fund's prospectus.
Other comparisons
INVN vs FRWDINVN vs FDTXINVN vs FITEINVN vs LFSCTMAT vs BULDTMAT vs BUYZTMAT vs ABOTTMAT vs DTRE
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →INVN on its own →TMAT on its own →INVN dividend history →INVN holdings →TMAT dividend history →TMAT holdings →Method →Standards and sources →
Sources and dates
INVN filings on SEC EDGAR ↗
INVN prospectus with the expense ratio (SEC) ↗
Alger website ↗
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

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

Every number is an ETFIQ calculation with distributions reinvested.

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

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