Data as of .
NRSH vs PIEL: which is really different?
NRSH and PIEL hold 0% of their weight in the same names.
ETFIQ Off-Index Score: PIEL 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
0% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, NRSH and PIEL hold 0% of their money in the same securities at the same weight.
| Only in NRSH | Only in PIEL |
|---|---|
| Sanmina Corp 4.74% | SK hynix Inc 9.81% |
| Ciena Corp 4.26% | ASML Holding NV 6.10% |
| Celestica Inc 4.23% | Novartis AG 4.89% |
| MYR Group Inc 4.22% | AstraZeneca PLC 4.58% |
| Microchip Technology Inc 4.09% | Roche Holding AG 4.49% |
| TFI International Inc 3.82% | LVMH Moet Hennessy Louis Vuitt 3.48% |
| MasTec Inc 3.70% | SAP SE 3.28% |
| Ryerson Holding Corp 3.60% | Hermes International SCA 3.13% |
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 Apr 30, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| NRSH | PIEL | NRSH | PIEL | NRSH | PIEL | |
| 3 months | −10.5% | −6.1% | −12.7 pts | −8.3 pts | −8.0 pts | −3.6 pts |
| 6 months | +25.8% | +19.0% | +7.8 pts | +1.0 pts | +1.5 pts | −5.2 pts |
| 1 year | +29.8% | not published | +13.2 pts | not published | +8.0 pts | not published |
| Since launch | +50.3% | +11.8% | −22.7 pts | +0.2 pts | −38.2 pts | −4.5 pts |
| NRSH Aztlan North America Nearshoring Stock Selection ETF Holds 30 stocks in reshoring and manufacturing, 39% of its weight in S&P 500 companies | PIEL Pacer International Export Leaders ETF Holds 100 stocks in reshoring and manufacturing, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Aztlan | Pacer |
| Theme | Reshoring and manufacturing | Reshoring and manufacturing |
| In the S&P 500 | 39.1% | 0.0% |
| Active share vs the S&P 500 | 92.6% | 100.0% |
| In the Nasdaq-100 | 20.3% | 3.0% |
| Holdings | 30 | 100 |
| Top ten, share of the fund | 39.8% | 45.7% |
| Expense ratio | 0.76% | 0.49% |
| Fee for the differing part | 0.82% | 0.49% |
| Total return, 1 year | +29.8% | +11.8% (since launch on Dec 23, 2025) |
| vs the S&P 500 | +13.2 pts | +0.2 pts |
| vs the Nasdaq-100 | +8.0 pts | −4.5 pts |
| Below its high | −12.3% | −6.1% |
| Net assets | $28m | $1m |
NRSH in plain words
By weight, 39% of NRSH's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 93%. The top ten holdings are 40% of the fund across 30 positions, as filed for Apr 30, 2026. Over the year to Sep 18, 2026 the fund returned +29.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 13.2 pts. It sits 12.3% below its all-time high of Jun 30, 2026.
PIEL in plain words
By weight, 0% of PIEL'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 46% of the fund across 100 positions, as filed for Apr 30, 2026. Since it launched on Dec 23, 2025 the fund returned +11.8% with distributions reinvested against +11.6% for the S&P 500, so a holder was about even. It sits 6.1% below its all-time high of Jun 18, 2026.
Questions people ask
- Do NRSH and PIEL hold the same stocks?
- By their latest filings, 0% 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, NRSH or PIEL?
- NRSH has 39% of its weight in S&P 500 names and PIEL has 0%, so PIEL differs more from the index.
- Which is cheaper, NRSH or PIEL?
- NRSH charges 0.76% a year and PIEL charges 0.49%, so PIEL 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, NRSH against PIEL, data as of Sep 18, 2026. https://etfiq.com/compare/themes/nrsh-vs-piel Free to use with attribution; the underlying files are at Open data.