Do VOLT and ZAP hold the same stocks?

By their latest filings, 32% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, VOLT or ZAP?

VOLT has 53% of its weight in S&P 500 names and ZAP has 76%, so ZAP differs more from the index.

Which is cheaper, VOLT or ZAP?

VOLT charges 0.75% a year and ZAP charges 0.50%, so ZAP is cheaper. Fees come from each fund's prospectus.

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VOLT vs ZAP: which is really different?

VOLT and ZAP hold 32% of their weight in the same names, and VOLT returned +23.6% over the year. Tema Electrification ETF and Global X U.S. Electrification ETF.

52.8%

VOLT in the S&P 500

75.5%

ZAP in the S&P 500

+23.6%

VOLT total return, 1 year

+4.9%

ZAP total return, 1 year

VOLT · 1 year to Sep 30, 202647% of its weight is outside the S&P 500

53% of VOLT's weight is in S&P 500 companies and 47% is outside the index

ZAP · 1 year to Sep 30, 202625% of its weight is outside the S&P 500

76% of ZAP's weight is in S&P 500 companies and 25% is outside the index

ETFIQ Off-Index Score · ZAP scores higherHow much of it is not the index it is sold as an alternative to?

VOLT 39.6

ZAP 48.1

0.1, the lowest in this set92.0, the highest

A percentile among the 375 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 →

What they hold in common

By the books each fund has filed, VOLT and ZAP hold 32% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 30, 2026.

50%

half

32% in common

Positions both hold, largest shared weight first

Holding VOLT ZAP

QUANTA SERVICES INC 5.55% 4.71%

EATON CORP PLC 6.36% 4.67%

BLOOM ENERGY CORP 4.45% 5.89%

AMERICAN ELECTRIC POWER CO INC 4.87% 3.92%

NEXTERA ENERGY INC 4.93% 3.64%

ENTERGY CORP 3.60% 3.79%

HUBBELL INC 4.47% 2.67%

XCEL ENERGY INC 1.94% 3.84%

OGE ENERGY CORP 4.48% 1.07%

IDACORP INC 4.38% 0.80%

Only in VOLT

BEL FUSE INC 6.73%

AMPHENOL CORP 6.70%

POWELL INDUSTRIES INC 5.48%

ENERGY TRANSFER LP 5.16%

NVENT ELECTRIC PLC 4.52%

GE VERNOVA INC 4.37%

ADVANCED ENERGY INDUSTRIES INC 3.99%

NISOURCE INC 3.00%

Only in ZAP

AMETEK INC 4.63%

DOMINION ENERGY INC 4.27%

CONSOLIDATED EDISON INC 4.08%

DUKE ENERGY CORP 3.92%

NATIONAL GRID PLC-SP ADR 3.85%

SOUTHERN CO/THE 3.85%

CONSTELLATION ENERGY 3.79%

EXELON CORP 3.79%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

32% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	VOLT	ZAP	VOLT	ZAP	VOLT	ZAP
3 months	−12.3%	−9.8%	−14.8 pts	−12.3 pts	−14.4 pts	−11.9 pts
6 months	+1.8%	−5.3%	−15.2 pts	−22.3 pts	−25.1 pts	−32.2 pts
1 year	+23.6%	+4.9%	+7.9 pts	−10.8 pts	−0.2 pts	−18.9 pts
Since launch VOLT Dec 2024 · ZAP Dec 2024	+40.6%	+30.4%	+12.2 pts	−2.6 pts	−2.2 pts	−14.2 pts

VOLT and ZAP over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

VOLT

Tema Electrification ETF · Holds 26 stocks in electrification and the grid, 53% of its weight in S&P 500 companies

ZAP

Global X U.S. Electrification ETF · Holds 47 stocks in electrification and the grid, 76% of its weight in S&P 500 companies

Issuer Tema Global X

Theme Electrification and the grid Electrification and the grid

In the S&P 500 52.8% 75.5%

Active share vs the S&P 500 96.9% 97.9%

In the Nasdaq-100 6.8% 15.3%

Holdings 26 47

Top ten, share of the fund 54.8% 43.8%

Expense ratio 0.75% 0.50%

Fee for the differing part 0.77% 0.51%

Total return, 1 year +23.6% +4.9%

vs the S&P 500 +7.9 pts −10.8 pts

vs the Nasdaq-100 −0.2 pts −18.9 pts

Below its high −15.7% −12.6%

Net assets $727m $436m

VOLT and ZAP on the same fields, as of Sep 30, 2026. Source: ETFIQ.

VOLT in plain words

By weight, 53% of VOLT'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 55% of the fund across 26 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +23.6% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 7.9 pts. It sits 15.7% below its all-time high of Jun 22, 2026.

ZAP in plain words

By weight, 76% 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 44% of the fund across 47 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +4.9% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 10.8 pts. It sits 12.6% below its all-time high of Jun 25, 2026.

Questions people ask

Do VOLT and ZAP hold the same stocks?: By their latest filings, 32% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, VOLT or ZAP?: VOLT has 53% of its weight in S&P 500 names and ZAP has 76%, so ZAP differs more from the index.
Which is cheaper, VOLT or ZAP?: VOLT charges 0.75% a year and ZAP charges 0.50%, so ZAP is cheaper. Fees come from each fund's prospectus.

Other comparisons

VOLT vs GRID VOLT vs ICOP VOLT vs JOUL VOLT vs POW ZAP vs GRID ZAP vs ICOP ZAP vs JOUL ZAP vs POW

VOLT on its own →ZAP on its own →How every figure is computed →Standards and sources →

Where these figures came from

VOLT filings on SEC EDGAR ↗VOLT prospectus with the expense ratio (SEC) ↗Tema page for VOLT ↗ZAP filings on SEC EDGAR ↗ZAP prospectus with the expense ratio (SEC) ↗Global X page for ZAP ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, VOLT against ZAP, data as of Sep 30, 2026. https://etfiq.com/compare/themes/volt-vs-zap

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.