Data as of .
PWER vs USNZ: which is really different?
PWER and USNZ hold 0% of their weight in the same names, and PWER returned more over the year.
ETFIQ Off-Index Score: PWER 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, PWER and USNZ hold 0% of their money in the same securities at the same weight.
| Only in PWER | Only in USNZ |
|---|---|
| Steel Dynamics, Inc. 6.58% | NVIDIA CORP 9.67% |
| Hudbay Minerals, Inc. 5.81% | APPLE INC 8.72% |
| ERO Copper Corp. 5.14% | MICROSOFT CORP 6.40% |
| Valero Energy Corp. 5.01% | AMAZON.COM INC 4.15% |
| First Solar, Inc. 4.65% | ALPHABET INC 4.02% |
| Generac Holdings, Inc. 4.63% | ALPHABET INC 3.38% |
| Arcosa, Inc. 4.61% | BROADCOM INC 3.37% |
| Alcoa Corp. 4.12% | META PLATFORMS INC 2.39% |
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 Jun 30, 2026 and May 29, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| PWER | USNZ | PWER | USNZ | PWER | USNZ | |
| 3 months | +6.9% | +2.5% | +4.6 pts | +0.3 pts | +9.4 pts | +5.0 pts |
| 6 months | +20.0% | +21.1% | +2.0 pts | +3.1 pts | −4.2 pts | −3.1 pts |
| 1 year | +44.4% | +16.8% | +27.8 pts | +0.2 pts | +22.6 pts | −5.0 pts |
| 3 years | not published | +77.0% | not published | −1.4 pts | not published | −21.2 pts |
| Since launch | +86.2% | +108.4% | +12.5 pts | −3.2 pts | −1.8 pts | −52.3 pts |
| PWER Nomura Energy Transition ETF Holds 31 stocks in energy transition and decarbonisation, 43% of its weight in S&P 500 companies | USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF Holds 306 stocks in energy transition and decarbonisation, 98% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Nomura | Xtrackers |
| Theme | Energy transition and decarbonisation | Energy transition and decarbonisation |
| In the S&P 500 | 43.2% | 97.9% |
| Active share vs the S&P 500 | 98.6% | 23.0% |
| In the Nasdaq-100 | 3.6% | 62.8% |
| Holdings | 31 | 306 |
| Top ten, share of the fund | 48.5% | 46.1% |
| Expense ratio | 0.79% | 0.10% |
| Fee for the differing part | 0.80% | 0.43% |
| Total return, 1 year | +44.4% | +16.8% |
| vs the S&P 500 | +27.8 pts | +0.2 pts |
| vs the Nasdaq-100 | +22.6 pts | −5.0 pts |
| Below its high | −3.3% | −1.4% |
| Net assets | $11m | $298m |
PWER in plain words
By weight, 43% 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 48% of the fund across 31 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +44.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 27.8 pts.
USNZ in plain words
By weight, 98% of USNZ's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 23%. The top ten holdings are 46% of the fund across 306 positions, as filed for May 29, 2026. Over the year to Sep 18, 2026 the fund returned +16.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was about even.
Questions people ask
- Do PWER and USNZ 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, PWER or USNZ?
- PWER has 43% of its weight in S&P 500 names and USNZ has 98%, so PWER differs more from the index.
- Which is cheaper, PWER or USNZ?
- PWER charges 0.79% a year and USNZ charges 0.10%, so USNZ 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, PWER against USNZ, data as of Sep 18, 2026. https://etfiq.com/compare/themes/pwer-vs-usnz Free to use with attribution; the underlying files are at Open data.