{
 "ticker": "FMQQ",
 "name": "FMQQ The Next Frontier Internet ETF",
 "issuer": "EMQQ Global",
 "desk": "themes",
 "url": "https://etfiq.com/funds/fmqq",
 "html": "https://etfiq.com/funds/fmqq",
 "markdown": "https://etfiq.com/funds/fmqq.md",
 "as_of": "2026-09-11",
 "verdict": "FMQQ holds 38 stocks, and 100% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "0.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMQQ, already in the S&P 500: 0.0%, as of Sep 11, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "100.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMQQ, active share vs the S&P 500: 100.0%, as of Sep 11, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "63.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMQQ, top ten holdings: 63.7%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "\u221217.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMQQ, total return, 1 year: \u221217.5%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$20m",
   "source": "SEC filing, whole fund, as filed for May 31, 2026",
   "as_of": "2026-09-11",
   "sentence": "FMQQ, net assets: $20m (SEC filing, whole fund, as filed for May 31, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.86%",
   "source": "485BPOS XBRL, Dec 22, 2025",
   "as_of": "2026-09-11",
   "sentence": "FMQQ, expense ratio: 0.86% (485BPOS XBRL, Dec 22, 2025)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Internet and e-commerce",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Sep 28, 2021",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "0.0%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "100.0%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "8.1%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "99.6%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "63.7%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "38",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "May 31, 2026",
   "source": "SEC N-PORT"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "BAJAJ FINANCE LIMITED 8.2%, MercadoLibre, Inc. 8.1%, RELIANCE INDUSTRIES LIMITED 7.9%, Eternal Ltd 7.8%, Nu Holdings Ltd. 7.5%, SEA LIMITED 6.5%, Joint Stock Company Kaspi.kz 6.4%, GRAB HOLDINGS LIMITED 4.0%, JIO FINANCIAL SERVICES LIMITED 3.8%, NAVER Corporation 3.5%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$20m",
   "source": "SEC filing, whole fund, as filed for May 31, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u221250.8%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.86%",
   "source": "485BPOS XBRL, Dec 22, 2025"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.86%",
   "source": "ETFIQ"
  },
  {
   "key": "closest_funds_by_holdings_overlap",
   "label": "Closest funds by holdings overlap",
   "value": "EMQQ 54%, INQQ 44%, KYC 16%, FDNI 12%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+11.7%",
   "S&P 500": "+3.3%",
   "Gap to S&P 500": "+8.4 pts",
   "Gap to Nasdaq-100": "+12.5 pts"
  },
  {
   "window": "6 months",
   "Total return": "+11.8%",
   "S&P 500": "+16.0%",
   "Gap to S&P 500": "\u22124.2 pts",
   "Gap to Nasdaq-100": "\u22128.9 pts"
  },
  {
   "window": "1 year",
   "Total return": "\u221217.5%",
   "S&P 500": "+17.5%",
   "Gap to S&P 500": "\u221235.0 pts",
   "Gap to Nasdaq-100": "\u221240.5 pts"
  },
  {
   "window": "3 years",
   "Total return": "+16.8%",
   "S&P 500": "+77.9%",
   "Gap to S&P 500": "\u221261.1 pts",
   "Gap to Nasdaq-100": "\u221278.3 pts"
  },
  {
   "window": "Since launch",
   "Total return": "\u221249.1%",
   "S&P 500": "+88.0%",
   "Gap to S&P 500": "\u2212137.0 pts",
   "Gap to Nasdaq-100": "\u2212153.5 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of FMQQ is in S&P 500 companies?",
   "a": "By its holdings filed for May 31, 2026, 0% of FMQQ by weight is stocks the S&P 500 already holds. Its active share against the index is 100%, so that share is the part doing something different."
  },
  {
   "q": "What does FMQQ hold?",
   "a": "38 positions as filed for May 31, 2026, with the top ten at 64% of the fund. The largest are BAJAJ FINANCE LIMITED at 8.2%, MercadoLibre, Inc. at 8.1%, RELIANCE INDUSTRIES LIMITED at 7.9%."
  },
  {
   "q": "Has FMQQ beaten the S&P 500?",
   "a": "Over the year to Sep 11, 2026 FMQQ returned \u221217.5% with distributions reinvested, against +17.5% for the S&P 500, so it finished behind the index by 35.0 points."
  },
  {
   "q": "What does FMQQ cost?",
   "a": "The prospectus expense ratio is 0.86% a year. Because 100% of the fund differs from the S&P 500, the fee on that differing part works out at 0.86%."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}