Do KWH and ZAP hold the same stocks?

By their latest filings, 22% 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 ZAP?

KWH has 41% of its weight in S&P 500 names and ZAP has 81%, so ZAP differs more from the index.

Which is cheaper, KWH or ZAP?

KWH charges 0.60% a year and ZAP charges 0.50%, so ZAP is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

KWH vs ZAP: Holdings Overlap & Returns

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KWH and ZAP hold 22% of their weight in the same names.

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Net assets: $58m on Aug 31, 2026 for GMO Power Infrastructure ETF, and $451m on Oct 12, 2026 for Global X U.S. Electrification ETF.

KWH on its own →ZAP on its own →

At a glance

41.4%

KWH in the S&P 500

80.7%

ZAP in the S&P 500

−6.1%

KWH total return, since launch, Jul 15, 2026

+5.6%

ZAP total return, 1 year

KWH · 3 months to Nov 4, 2026 59% of its weight is outside the S&P 500

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

ZAP · 1 year to Nov 4, 2026 19% of its weight is outside the S&P 500

81% of ZAP's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

ZAP costs 0.10 points a year less.

KWH vs ZAP: Holdings Overlap & Returns
Measure	KWH	ZAP
Return
Measure	KWH	ZAP
Total return, 1 year	not published	+5.6%
Drawdown
Measure	KWH	ZAP
Below its all-time high	8.5%, high on Aug 17, 2026	9.2%, high on Jun 25, 2026
Benchmark
Measure	KWH	ZAP
What it tracks	Electrification and the grid	Electrification and the grid
Cost and size
Measure	KWH	ZAP
Expense ratio	0.60%	0.50%
Net assets, KWH as of Aug 31, 2026 and ZAP as of Oct 12, 2026	$58m	$451m
Holdings
Measure	KWH	ZAP
Holdings in common	22%

Method

What they share

22%

By the books each fund has filed, KWH and ZAP hold 22% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.

50%

0 half 100%

half

22% in common

Positions both hold · largest shared weight first KWH ZAP

NextEra Energy Inc 2.52% 3.91%

National Grid PLC 2.44% 3.79%

Duke Energy Corp 1.97% 4.05%

Exelon Corp 1.84% 4.03%

Consolidated Edison Inc 1.77% 4.08%

American Electric Power Co Inc 1.63% 3.96%

Hubbell Inc 1.46% 2.59%

Xcel Energy Inc 1.40% 3.97%

Entergy Corp 1.39% 3.84%

Southern Co 1.22% 4.12%

Vistra Corp 1.09% 3.73%

FirstEnergy Corp 1.04% 2.99%

Only in one fund ↓

Only in KWH

Schneider Electric SE 5.14%

Siemens AG 4.68%

Eaton Corp PLC 3.43%

Trane Technologies PLC 2.69%

Enel SpA 2.52%

Iberdrola SA 2.51%

Vestas Wind Systems A/S 2.50%

Contemporary Amperex Technology Co Ltd 2.31%

Only in ZAP

Dominion Energy, Inc. 4.58%

EATON CORPORATION PUBLIC LIMITED COMPANY 4.21%

AMETEK, INC. 4.21%

BLOOM ENERGY CORPORATION 4.08%

PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED 3.89%

CONSTELLATION ENERGY CORPORATION. 3.65%

AMEREN CORPORATION 3.18%

EDISON INTERNATIONAL 3.15%

Check overlap with more funds →

Window by window

Window by window: KWH vs ZAP: Holdings Overlap & Returns
	Total return
Window	KWH	ZAP
3 months	−6.7%	−3.2%
6 months	–	−7.6%
1 year	–	+5.6%
Since launchNot the same days: KWH Jul 2026 · ZAP Dec 2024	−6.1%	+35.5%

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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 ZAP Global X U.S. Electrification ETF · Holds 45 stocks in electrification and the grid, 81% of its weight in S&P 500 companies

Issuer GMO Global X

Theme Electrification and the grid Electrification and the grid

In the S&P 500 41.4% 80.7%

Active share vs the S&P 500 96.9% 97.8%

In the Nasdaq-100 4.9% 15.6%

Holdings 74 45

Top ten, share of the fund 30.8% 41.9%

Expense ratio 0.60% 0.50%

Fee for the differing part 0.62% 0.51%

Total return, 1 year −6.1% (since launch, Jul 15, 2026) +5.6%

vs its benchmark not measured not measured

Below its high −8.5% −9.2%

Net assets, KWH as of Aug 31, 2026 and ZAP as of Oct 12, 2026 $58m $451m

As of Nov 4, 2026. Source: ETFIQ.

22% of the two portfolios are the same securities at the same weight.

Alert

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.

ZAP

By weight, 81% of ZAP'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 42% of the fund across 45 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +5.6% with distributions reinvested. It sits 9.2% below its all-time high of Jun 25, 2026.

Questions people ask

Do KWH and ZAP hold the same stocks?: By their latest filings, 22% 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 ZAP?: KWH has 41% of its weight in S&P 500 names and ZAP has 81%, so ZAP differs more from the index.
Which is cheaper, KWH or ZAP?: KWH charges 0.60% a year and ZAP charges 0.50%, so ZAP is cheaper. Fees come from each fund's prospectus.

Other comparisons

KWH vs VOLT KWH vs FPWR KWH vs JOUL KWH vs POWR ZAP vs ELFY ZAP vs POW ZAP vs FPWR ZAP vs POWR

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →KWH on its own →ZAP on its own →KWH holdings →ZAP dividend history →ZAP holdings →Method →Standards and sources →

Sources and dates

KWH filings on SEC EDGAR ↗

KWH prospectus with the expense ratio (SEC) ↗

GMO website ↗

ZAP filings on SEC EDGAR ↗

ZAP prospectus with the expense ratio (SEC) ↗

Global X page for ZAP ↗

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 ZAP, data as of Nov 4, 2026. https://etfiq.com/compare/themes/kwh-vs-zap

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