Answered from ETFIQ data as of .
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, because an index provider building a themed index still has to find liquid, investable companies, and the largest of those are usually already in the S&P 500.
ETFIQ measures the overlap for every fund and also between funds, so two funds in the same theme can be checked against each other. Some pairs share more than half their book at the same weights.
None of this says a theme is good or bad. It says how much of it you did not already own.
On the desk today
| Ticker | Fund | Theme | In the S&P 500 | Active share | Total return 1Y | vs S&P 500 |
|---|---|---|---|---|---|---|
| DRAI | Draco Evolution AI ETF | Artificial intelligence | 0.0% | 100.0% | +21.7% | +1.7 pts |
| DRGN | Themes China Generative Artificial Intelligence ETF | Artificial intelligence | 0.0% | 100.0% | +12.3% | −7.6 pts |
| GXDW | Global X Dorsey Wright Thematic ETF | Broad innovation and megatrends | 0.0% | 100.0% | −7.2% | −27.2 pts |
| LFSC | F/m Emerald Life Sciences Innovation ETF | Broad innovation and megatrends | 0.0% | 100.0% | +61.7% | +41.7 pts |
| CNBS | Amplify Seymour Cannabis ETF | Cannabis | 0.0% | 100.0% | +3.3% | −16.6 pts |
| MSOS | AdvisorShares Pure US Cannabis ETF | Cannabis | 0.0% | 100.0% | +11.6% | −8.4 pts |
| WEED | Roundhill Cannabis ETF | Cannabis | 0.0% | 100.0% | +14.2% | −5.7 pts |
| ICLN | iShares Global Clean Energy ETF | Clean energy | 7.2% | 100.0% | +25.3% | +5.3 pts |
Where to next
ETFIQ is an independent publisher of exchange-traded fund data and makes no recommendations. Every figure is stated arithmetic on published data. Standards and sources
Cite this page. ETFIQ, How different is a thematic ETF from the index?, data as of Sep 4, 2026. https://etfiq.com/questions/are-thematic-etfs-worth-it.html Free to use with attribution; the underlying files are at Open data.