How different is a thematic ETF from the index?
Less different than the name suggests, on average. By their latest holdings filings, the typical thematic ETF ETFIQ tracks carries 32% of its weight in stocks the S&P 500 already holds.
A theme is a story about the future; the holdings are what you own. The two can differ a great deal. A themed index still needs liquid, investable companies, and the largest are usually already in the S&P 500.
ETFIQ measures overlap for every fund and between funds, so you can check two funds in the same theme against each other. Some pairs share more than half their book at the same weights.
On ETFIQ today
Answered from ETFIQ data as of Oct 27, 2026.Points (pts) are percentage points.
| Ticker | Fund | Theme | In the S&P 500 | Active share | Total return 1Y | vs its benchmark 1Y |
|---|---|---|---|---|---|---|
| PDBA | Invesco Agriculture Commodity Strategy No K-1 ETF | Agriculture | 0.0% | 100.0% | +8.2% | not measured |
| DRAI | Draco Evolution AI ETF | Artificial intelligence | 0.0% | 100.0% | +7.5% | −5.4 pts vs GUSA |
| DRGN | Themes China Generative Artificial Intelligence ETF | Artificial intelligence | 0.0% | 100.0% | −20.7% | −33.8 pts vs ACWI |
| KAIT | KraneShares Asia AI Technology ETF | Artificial intelligence | 0.0% | 100.0% | not published | not available |
| BBC | Virtus Biotech Clinical Trials ETF | Biotech | 0.0% | 100.0% | +36.6% | not measured |
| GXDW | Global X Dorsey Wright Thematic ETF | Broad innovation and megatrends | 0.0% | 100.0% | −10.8% | not measured |
| LFSC | F/m Emerald Life Sciences Innovation ETF | Broad innovation and megatrends | 0.0% | 100.0% | +35.8% | +22.7 pts vs IWV |
| MJ | Amplify Alternative Harvest ETF | Cannabis | 0.0% | 100.0% | −32.6% | not measured |
Links are sources, not endorsements.
ETFIQ is an independent publisher and makes no recommendations. Standards and sources
Cite this pageCitation, APA and Markdown
ETFIQ, How different is a thematic ETF from the index?, data as of Oct 27, 2026. https://etfiq.com/questions/are-thematic-etfs-worth-it
ETFIQ. (Oct 27, 2026). How different is a thematic ETF from the index?. Retrieved from https://etfiq.com/questions/are-thematic-etfs-worth-it
[How different is a thematic ETF from the index? (ETFIQ, Oct 27, 2026)](https://etfiq.com/questions/are-thematic-etfs-worth-it)
Free to use with attribution for ETFIQ’s data. Not investment advice.