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Data as of Nov 4, 2026.

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Thematic ETFs

NVIR vs PWER: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, NVIR returned +21.7% to PWER's +34.8%; 11% of their weight is in the same names.

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Net assets on Jun 30, 2026: $5.8m for Horizon Kinetics Energy and Remediation ETF and $11m for Nomura Energy Transition ETF.

NVIR on its own →PWER on its own →
At a glance
41.7%
NVIR in the S&P 500
42.1%
PWER in the S&P 500
+21.7%
NVIR total return, 1 year
+34.8%
PWER total return, 1 year
NVIR · 1 year to Nov 4, 2026 58% of its weight is outside the S&P 500
58% of its weight is outside the S&P 50042% of NVIR's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.42%58%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 46% of the fund · 39 holdings as filed for Jun 30, 2026 · Nasdaq-100: 4% in58% of its weight is outside the S&P 50042% of NVIR's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.42%58%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 4% in

42% of NVIR's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.

PWER · 1 year to Nov 4, 2026 58% of its weight is outside the S&P 500
58% of its weight is outside the S&P 50042% of PWER's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.42%58%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 99% · top ten 47% of the fund · 31 holdings as filed for Jun 30, 2026 · Nasdaq-100: 4% in58% of its weight is outside the S&P 50042% of PWER's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.42%58%in the S&P 500outside the S&P 500active share 99% · Nasdaq-100: 4% in

42% of PWER's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

PWER costs 0.06 points a year less; their one-year returns differ by 13.1 points; PWER is 1.9 times larger.

Points (pts) are percentage points.

NVIR vs PWER: Holdings Overlap & Returns
MeasureNVIRPWER
Return
Total return, 1 year+21.7%+34.8%
Drawdown
Below its all-time high6.8%, high on Oct 30, 20267.6%, high on Sep 8, 2026
Against its benchmark
What it tracksEnergy transition and decarbonisationEnergy transition and decarbonisation
Its benchmark, total return, 1 year+15.0%
Against its benchmark, 1 yearahead by 19.8 pts
Cost and size
Expense ratio0.85%0.79%
Net assets, as of Jun 30, 2026$5.8m$11m
Holdings
Holdings in common11%

Method

What they share

11%

By the books each fund has filed, NVIR and PWER hold 11% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.

0 half 100%

half

11% in common

Positions both hold · largest shared weight first NVIR PWER
EQT Corp 4.06% 3.19%
Expand Energy Corp 2.68% 2.80%
EOG Resources Inc 2.59% 3.70%
ConocoPhillips 2.36% 3.78%
Only in one fund ↓
Only in NVIR
Texas Pacific Land Corp 6.22%
CES Energy Solutions Corp 5.94%
Williams Cos Inc 5.60%
WaterBridge Infrastructure LLC 5.29%
Enerflex Ltd 4.20%
Permian Basin Royalty Trust 4.00%
Cheniere Energy Inc 3.87%
Suncor Energy Inc 3.83%
Only in PWER
Steel Dynamics, Inc. 6.41%
Hudbay Minerals, Inc. 5.67%
ERO Copper Corp. 5.01%
Valero Energy Corp. 4.89%
First Solar, Inc. 4.53%
Generac Holdings, Inc. 4.51%
Arcosa, Inc. 4.49%
Alcoa Corp. 4.01%
Check overlap with more funds →

Window by window

Window by window: NVIR vs PWER: Holdings Overlap & Returns
Total returnvs its benchmark
WindowNVIRPWERNVIRPWER
3 months−1.9%+0.5%not measured+1.8 pts vs ACWI
6 months−2.6%−0.5%not measured−3.1 pts vs ACWI
1 year+21.7%+34.8%not measured+19.8 pts vs ACWI
3 years+49.0%–not measured–
Since launchNot the same days: NVIR Feb 2023 · PWER Nov 2023+62.6%+77.9%not measured+7.6 pts vs ACWI

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

Side by side

NVIR Horizon Kinetics Energy and Remediation ETF · Holds 39 stocks in energy transition and decarbonisation, 42% of its weight in S&P 500 companies PWER Nomura Energy Transition ETF · Holds 31 stocks in energy transition and decarbonisation, 42% of its weight in S&P 500 companies
Issuer Horizon Kinetics Nomura
Theme Energy transition and decarbonisation Energy transition and decarbonisation
In the S&P 500 41.7% 42.1%
Active share vs the S&P 500 98.0% 98.6%
In the Nasdaq-100 4.2% 3.5%
Holdings 39 31
Top ten, share of the fund 46.4% 47.3%
Expense ratio 0.85% 0.79%
Fee for the differing part 0.87% 0.80%
Total return, 1 year +21.7% +34.8%
vs its benchmark not measured +19.8 pts vs ACWI
Below its high −6.8% −7.6%
Net assets, as of Jun 30, 2026 $5.8m $11m

As of Nov 4, 2026. Source: ETFIQ.

11% of the two portfolios are the same securities at the same weight.

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About each fund
NVIR

By weight, 42% of NVIR'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 46% of the fund across 39 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +21.7% with distributions reinvested. It sits 6.8% below its all-time high of Oct 30, 2026.

PWER

By weight, 42% of PWER's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 47% of the fund across 31 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +34.8% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 19.8 pts. It sits 7.6% below its all-time high of Sep 8, 2026.

Questions people ask

Do NVIR and PWER hold the same stocks?
By their latest filings, 11% 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, NVIR or PWER?
NVIR has 42% of its weight in S&P 500 names and PWER has 42%, so PWER differs more from the index.
Which is cheaper, NVIR or PWER?
NVIR charges 0.85% a year and PWER charges 0.79%, so PWER is cheaper. Fees come from each fund's prospectus.
Other comparisons
NVIR vs PCLNNVIR vs ETECNVIR vs EVXNVIR vs IQSZPWER vs ETECPWER vs EVXPWER vs ETHOPWER vs USNZ
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →NVIR on its own →PWER on its own →NVIR dividend history →NVIR holdings →PWER dividend history →PWER holdings →Method →Standards and sources →
Sources and dates
NVIR filings on SEC EDGAR ↗
NVIR prospectus with the expense ratio (SEC) ↗
Horizon Kinetics website ↗
PWER filings on SEC EDGAR ↗
PWER prospectus with the expense ratio (SEC) ↗
Nomura 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, NVIR against PWER, data as of Nov 4, 2026. https://etfiq.com/compare/themes/nvir-vs-pwer

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