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Data as of Nov 4, 2026.

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Thematic ETFs

KWH vs VOLT: Holdings Overlap & Returns

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KWH and VOLT hold 19% of their weight in the same names.

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Net assets: $58m on Aug 31, 2026 for GMO Power Infrastructure ETF, and $1.0bn on Nov 3, 2026 for Tema Electrification ETF.

KWH on its own →VOLT on its own →
At a glance
41.4%
KWH in the S&P 500
56.7%
VOLT in the S&P 500
−6.1%
KWH total return, since launch, Jul 15, 2026
+10.4%
VOLT total return, 1 year
KWH · 3 months to Nov 4, 2026 59% of its weight is outside the S&P 500
59% of its weight is outside the S&P 50041% of KWH's weight is in S&P 500 companies and 59% is outside the index. Holdings as of Aug 31, 2026.41%59%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 97% · top ten 31% of the fund · 74 holdings as filed for Aug 31, 2026 · Nasdaq-100: 5% in59% of its weight is outside the S&P 50041% of KWH's weight is in S&P 500 companies and 59% is outside the index. Holdings as of Aug 31, 2026.41%59%in the S&P 500outside the S&P 500active share 97% · Nasdaq-100: 5% in

41% of KWH's weight is in S&P 500 companies and 59% is outside the index. Holdings as of Aug 31, 2026.

VOLT · 1 year to Nov 4, 2026 43% of its weight is outside the S&P 500
43% of its weight is outside the S&P 50057% of VOLT's weight is in S&P 500 companies and 43% is outside the index. Holdings as of Nov 3, 2026.57%43%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 97% · top ten 57% of the fund · 26 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 8% in43% of its weight is outside the S&P 50057% of VOLT's weight is in S&P 500 companies and 43% is outside the index. Holdings as of Nov 3, 2026.57%43%in the S&P 500outsideactive share 97% · Nasdaq-100: 8% in

57% of VOLT's weight is in S&P 500 companies and 43% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

KWH costs 0.15 points a year less.

Points (pts) are percentage points.

KWH vs VOLT: Holdings Overlap & Returns
MeasureKWHVOLT
Return
Total return, 1 yearnot published+10.4%
Drawdown
Below its all-time high8.5%, high on Aug 17, 202621.4%, high on Jun 22, 2026
Against its benchmark
What it tracksElectrification and the gridElectrification and the grid
Against the S&P 500, 1 yearbehind by 4.4 pts
Its benchmark, total return, 1 year+14.8%
Against its benchmark, 1 yearbehind by 4.4 pts
Cost and size
Expense ratio0.60%0.75%
Net assets, KWH as of Aug 31, 2026 and VOLT as of Nov 3, 2026$58m$1.0bn
Holdings
Holdings in common19%

Method

What they share

19%

By the books each fund has filed, KWH and VOLT hold 19% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.

0 half 100%

half

19% in common

Positions both hold · largest shared weight first KWH VOLT
Eaton Corp PLC 3.43% 5.88%
NextEra Energy Inc 2.52% 6.14%
ABB Ltd 2.20% 2.90%
American Electric Power Co Inc 1.63% 5.64%
Hubbell Inc 1.46% 4.57%
Johnson Controls International plc 1.45% 1.68%
nVent Electric PLC 1.42% 3.57%
Xcel Energy Inc 1.40% 2.36%
Entergy Corp 1.39% 4.33%
Expand Energy Corp 1.98% 0.92%
Quanta Services Inc 0.67% 5.54%
GE Vernova Inc 0.63% 4.06%
Only in one fund ↓
Only in KWH
Schneider Electric SE 5.14%
Siemens AG 4.68%
Trane Technologies PLC 2.69%
Enel SpA 2.52%
Iberdrola SA 2.51%
Vestas Wind Systems A/S 2.50%
National Grid PLC 2.44%
Contemporary Amperex Technology Co Ltd 2.31%
Only in VOLT
AMPHENOL CORP 6.69%
BEL FUSE INC 6.39%
ENERGY TRANSFER LP 5.42%
OGE ENERGY CORP 5.32%
IDACORP INC 5.23%
POWELL INDUSTRIES INC 4.71%
NISOURCE INC 3.72%
BLOOM ENERGY CORP 3.42%
Check overlap with more funds →

Window by window

Window by window: KWH vs VOLT: Holdings Overlap & Returns
Total returnvs its benchmark
WindowKWHVOLTKWHVOLT
3 months−6.7%−13.8%not measured−13.7 pts vs VOO
6 months–−20.1%–−25.1 pts vs VOO
1 year–+10.4%–−4.4 pts vs VOO
Since launchNot the same days: KWH Jul 2026 · VOLT Dec 2024−6.1%+31.2%not measured+2.0 pts vs VOO

– means no data for this window. Open this comparison in the app →

Side by side

KWH GMO Power Infrastructure ETF · Holds 74 stocks in electrification and the grid, 41% of its weight in S&P 500 companies VOLT Tema Electrification ETF · Holds 26 stocks in electrification and the grid, 57% of its weight in S&P 500 companies
Issuer GMO Tema
Theme Electrification and the grid Electrification and the grid
In the S&P 500 41.4% 56.7%
Active share vs the S&P 500 96.9% 96.9%
In the Nasdaq-100 4.9% 8.0%
Holdings 74 26
Top ten, share of the fund 30.8% 57.0%
Expense ratio 0.60% 0.75%
Fee for the differing part 0.62% 0.77%
Total return, 1 year −6.1% (since launch, Jul 15, 2026) +10.4%
vs its benchmark not measured −4.4 pts vs VOO
Below its high −8.5% −21.4%
Net assets, KWH as of Aug 31, 2026 and VOLT as of Nov 3, 2026 $58m $1.0bn

As of Nov 4, 2026. Source: ETFIQ.

19% of the two portfolios are the same securities at the same weight.

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About each fund
KWH

By weight, 41% of KWH's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 31% of the fund across 74 positions, as filed for Aug 31, 2026. Since it first traded on Jul 15, 2026 the fund returned −6.1% with distributions reinvested. It sits 8.5% below its all-time high of Aug 17, 2026.

VOLT

By weight, 57% of VOLT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 57% of the fund across 26 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +10.4% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Total Return Index, so a holder was behind by 4.4 pts. It sits 21.4% below its all-time high of Jun 22, 2026.

Questions people ask

Do KWH and VOLT hold the same stocks?
By their latest filings, 19% 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, KWH or VOLT?
KWH has 41% of its weight in S&P 500 names and VOLT has 57%, so KWH differs more from the index.
Which is cheaper, KWH or VOLT?
KWH charges 0.60% a year and VOLT charges 0.75%, so KWH is cheaper. Fees come from each fund's prospectus.
Other comparisons
KWH vs TRFMKWH vs POWRKWH vs ZAPKWH vs ELFYVOLT vs ELFYVOLT vs ZAPVOLT vs POWVOLT vs FPWR
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →KWH on its own →VOLT on its own →KWH holdings →VOLT dividend history →VOLT holdings →Method →Standards and sources →
Sources and dates
KWH filings on SEC EDGAR ↗
KWH prospectus with the expense ratio (SEC) ↗
GMO website ↗
VOLT filings on SEC EDGAR ↗
VOLT prospectus with the expense ratio (SEC) ↗
Tema page for VOLT ↗

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, KWH against VOLT, data as of Nov 4, 2026. https://etfiq.com/compare/themes/kwh-vs-volt

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