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Data as of Nov 4, 2026.

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Thematic ETFs

TMAT vs TNXT: Holdings Overlap & Returns

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TMAT and TNXT hold 8% of their weight in the same names.

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Net assets: $237m on Jul 31, 2026 for Main Thematic Innovation ETF, and $19m on Nov 3, 2026 for T. Rowe Price Innovation Leaders ETF.

TMAT on its own →TNXT on its own →
At a glance
50.3%
TMAT in the S&P 500
64.2%
TNXT in the S&P 500
−3.1%
TMAT total return, 1 year
+13.4%
TNXT total return, since launch, Jan 29, 2026
TMAT · 1 year to Nov 4, 2026 50% of its weight is outside the S&P 500
50% of its weight is outside the S&P 50050% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.50%50%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 92% · top ten 27% of the fund · 87 holdings as filed for Jul 31, 2026 · Nasdaq-100: 29% in50% of its weight is outside the S&P 50050% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.50%50%in the S&P 500outside the S&P 500active share 92% · Nasdaq-100: 29% in

50% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.

TNXT · 6 months to Nov 4, 2026 36% of its weight is outside the S&P 500
36% of its weight is outside the S&P 50064% of TNXT's weight is in S&P 500 companies and 36% is outside the index. Holdings as of Jun 30, 2026.64%36%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 52% · top ten 32% of the fund · 272 holdings as filed for Jun 30, 2026 · Nasdaq-100: 47% in36% of its weight is outside the S&P 50064% of TNXT's weight is in S&P 500 companies and 36% is outside the index. Holdings as of Jun 30, 2026.64%36%in the S&P 500outsideactive share 52% · Nasdaq-100: 47% in

64% of TNXT's weight is in S&P 500 companies and 36% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

TNXT costs 0.30 points a year less.

Points (pts) are percentage points.

TMAT vs TNXT: Holdings Overlap & Returns
MeasureTMATTNXT
Return
Total return, 1 year−3.1%not published
Drawdown
Below its all-time high15.9%, high on Jun 30, 2026
Against its benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Its benchmark, total return, 1 year+15.0%
Against its benchmark, 1 yearbehind by 18.1 pts
Cost and size
Expense ratio0.79%0.49%
Net assets, TMAT as of Jul 31, 2026 and TNXT as of Nov 3, 2026$237m$19m
Holdings
Holdings in common8%
ETFIQ S&P 500 Difference Score · TMAT scores higher How much of its weight does it not share with the S&P 500?
IQ Themes Score61.4TMAT2.2TNXT

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

8%

By the books each fund has filed, TMAT and TNXT hold 8% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

0 half 100%

half

8% in common

Positions both hold · largest shared weight first TMAT TNXT
ADVANCED MICRO DEVICES INC 2.06% 2.53%
MICRON TECHNOLOGY INC 4.23% 1.86%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD 1.02% 1.22%
MARVELL TECHNOLOGY INC 1.15% 0.46%
CROWDSTRIKE HOLDINGS INC 2.77% 0.46%
PALO ALTO NETWORKS INC 4.46% 0.44%
AXON ENTERPRISE INC 1.14% 0.42%
PARKER-HANNIFIN CORP 0.35% 0.43%
CIENA CORP 1.09% 0.29%
ANALOG DEVICES INC 0.93% 0.28%
INTUITIVE SURGICAL INC 0.25% 0.27%
LUMENTUM HOLDINGS INC 2.06% 0.18%
Only in one fund ↓
Only in TMAT
FORTINET INC 2.63%
CLEAR SECURE INC 2.43%
VICOR CORP 2.18%
HINGE HEALTH INC 2.09%
KEYSIGHT TECHNOLOGIES INC 1.95%
BENTLEY SYSTEMS INC 1.88%
RUBRIK INC 1.86%
CLOUDFLARE INC 1.81%
Only in TNXT
NVIDIA CORP 7.22%
APPLE INC 4.60%
AMAZON.COM INC 3.02%
BROADCOM INC 2.75%
MICROSOFT CORP 2.67%
ALPHABET INC CL A 2.57%
ALPHABET INC CL C 2.28%
INTEL CORP 2.13%
Check overlap with more funds →

Window by window

Window by window: TMAT vs TNXT: Holdings Overlap & Returns
Total returnvs its benchmark
WindowTMATTNXTTMATTNXT
3 months−9.4%−0.2%−8.1 pts vs ACWInot measured
6 months−4.9%+6.6%−7.5 pts vs ACWInot measured
1 year−3.1%–−18.1 pts vs ACWI–
3 years+92.3%–+14.7 pts vs ACWI–
Since launchNot the same days: TMAT Jan 2021 · TNXT Jan 2026+7.5%+13.4%−85.1 pts vs ACWInot measured

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

Side by side

TMAT Main Thematic Innovation ETF · Holds 87 stocks in broad innovation and megatrends, 50% of its weight in S&P 500 companies TNXT T. Rowe Price Innovation Leaders ETF · Holds 272 stocks in broad innovation and megatrends, 64% of its weight in S&P 500 companies
Issuer Main T. Rowe Price
Theme Broad innovation and megatrends Broad innovation and megatrends
In the S&P 500 50.3% 64.2%
Active share vs the S&P 500 91.6% 51.6%
In the Nasdaq-100 29.4% 47.1%
Holdings 87 272
Top ten, share of the fund 26.9% 31.8%
Expense ratio 0.79% 0.49%
Fee for the differing part 0.86% 0.95%
Total return, 1 year −3.1% +13.4% (since launch, Jan 29, 2026)
vs its benchmark −18.1 pts vs ACWI not measured
Below its high −15.9% −3.8%
Net assets, TMAT as of Jul 31, 2026 and TNXT as of Nov 3, 2026 $237m $19m

As of Nov 4, 2026. Source: ETFIQ.

8% of the two portfolios are the same securities at the same weight.

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About each fund
TMAT

By weight, 50% of TMAT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 27% of the fund across 87 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned −3.1% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index Net, so a holder was behind by 18.1 pts. It sits 15.9% below its all-time high of Jun 30, 2026.

TNXT

By weight, 64% of TNXT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 52%. The top ten holdings are 32% of the fund across 272 positions, as filed for Jun 30, 2026. Since it first traded on Jan 29, 2026 the fund returned +13.4% with distributions reinvested.

Questions people ask

Do TMAT and TNXT hold the same stocks?
By their latest filings, 8% 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, TMAT or TNXT?
TMAT has 50% of its weight in S&P 500 names and TNXT has 64%, so TMAT differs more from the index.
Which is cheaper, TMAT or TNXT?
TMAT charges 0.79% a year and TNXT charges 0.49%, so TNXT is cheaper. Fees come from each fund's prospectus.
Other comparisons
TMAT vs BULDTMAT vs GXDWTMAT vs BUYZTMAT vs ABOTTNXT vs GTEKTNXT vs FRWDTNXT vs FDTXTNXT vs ILDR
Where to next
TMAT on its own →TNXT on its own →TMAT dividend history →TMAT holdings →TNXT holdings →Method →Standards and sources →
Sources and dates
TMAT filings on SEC EDGAR ↗
TMAT prospectus with the expense ratio (SEC) ↗
Main website ↗
TNXT filings on SEC EDGAR ↗
TNXT prospectus with the expense ratio (SEC) ↗
T. Rowe Price website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, TMAT against TNXT, data as of Nov 4, 2026. https://etfiq.com/compare/themes/tmat-vs-tnxt

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