Data as of .
KWEB vs PNQI: which is really different?
KWEB and PNQI hold 3% of their weight in the same names, and PNQI returned more over the year.
ETFIQ Off-Index Score: KWEB 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
3% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, KWEB and PNQI hold 3% of their money in the same securities at the same weight.
| Holding | KWEB | PNQI |
|---|---|---|
| ALIBABA GROUP HOLDING LTD | 8.70% | 1.65% |
| TRIP.COM GROUP LTD | 3.57% | 0.30% |
| NETEASE INC | 6.26% | 0.26% |
| VIPSHOP HOLDINGS LTD - ADR | 1.48% | 0.14% |
| AUTOHOME INC-ADR | 0.62% | 0.04% |
| Only in KWEB | Only in PNQI |
|---|---|
| TENCENT HOLDINGS LTD 9.96% | Microsoft Corp 8.53% |
| PDD HOLDINGS INC 8.17% | Apple Inc 8.38% |
| MEITUAN-CLASS B 7.09% | Meta Platforms Inc 8.19% |
| LENOVO GROUP LTD 6.63% | Amazon.com Inc 7.29% |
| KE HOLDINGS INC-CL A 4.23% | Alphabet Inc 7.11% |
| JD.COM INC-CLASS A 3.87% | Salesforce Inc 4.85% |
| BAIDU INC-CLASS A-HKD 3.22% | Shopify Inc 4.21% |
| KUAISHOU TECHNOLOGY 2.99% | Walt Disney Co/The 3.92% |
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 Sep 18, 2026 and Sep 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| KWEB | PNQI | KWEB | PNQI | KWEB | PNQI | |
| 3 months | −1.6% | +10.1% | −3.9 pts | +7.9 pts | +0.9 pts | +12.6 pts |
| 6 months | −12.0% | +12.0% | −30.1 pts | −6.0 pts | −36.3 pts | −12.2 pts |
| 1 year | −37.3% | −10.8% | −53.8 pts | −27.4 pts | −59.0 pts | −32.6 pts |
| 3 years | +0.7% | +59.2% | −77.7 pts | −19.2 pts | −97.5 pts | −39.0 pts |
| Since launch | +21.7% | +865.0% | −436.7 pts | +61.5 pts | −928.1 pts | −825.2 pts |
| KWEB KraneShares CSI China Internet ETF Holds 46 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | PNQI Invesco NASDAQ Internet ETF Holds 79 stocks in internet and e-commerce, 75% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | KraneShares | Invesco |
| Theme | Internet and e-commerce | Internet and e-commerce |
| In the S&P 500 | 0.0% | 75.2% |
| Active share vs the S&P 500 | 100.0% | 78.8% |
| In the Nasdaq-100 | 8.2% | 63.9% |
| Holdings | 46 | 79 |
| Top ten, share of the fund | 61.7% | 60.0% |
| Expense ratio | 0.69% | 0.60% |
| Fee for the differing part | 0.69% | 0.76% |
| Total return, 1 year | −37.3% | −10.8% |
| vs the S&P 500 | −53.8 pts | −27.4 pts |
| vs the Nasdaq-100 | −59.0 pts | −32.6 pts |
| Below its high | −71.2% | −11.4% |
| Net assets | $4.7bn | $524m |
KWEB in plain words
By weight, 0% of KWEB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 46 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −37.3% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 53.8 pts. It sits 71.2% below its all-time high of Feb 17, 2021.
PNQI in plain words
By weight, 75% of PNQI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 79%. The top ten holdings are 60% of the fund across 79 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned −10.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 27.4 pts. It sits 11.4% below its all-time high of Sep 19, 2025.
Questions people ask
- Do KWEB and PNQI hold the same stocks?
- By their latest filings, 3% 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, KWEB or PNQI?
- KWEB has 0% of its weight in S&P 500 names and PNQI has 75%, so KWEB differs more from the index.
- Which is cheaper, KWEB or PNQI?
- KWEB charges 0.69% a year and PNQI charges 0.60%, so PNQI 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, KWEB against PNQI, data as of Sep 18, 2026. https://etfiq.com/compare/themes/kweb-vs-pnqi Free to use with attribution; the underlying files are at Open data.