---
ticker: "FRWD"
name: "Nomura Transformational Technologies ETF"
url: "https://etf.net/etf/FRWD"
grade: "B"
score: 60
graded_at: "2026-10-12"
category: "Disruptive Innovation"
category_rank: "10 of 31"
methodology: "https://etf.net/methodology"
---

# FRWD: Nomura Transformational Technologies ETF

Grade **B**, Score 60 of 100. Rank 10 of 31 in Disruptive Innovation.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 55 | 12 of 31 |
| Mission | Not scored | — |
| Risk | 64 | 8 of 31 |
| Tradability | 83 | 3 of 31 |
| Holdings | 38 | 23 of 31 |
| Durability | 62 | 11 of 31 |

## Top holdings

The fund holds 27 positions. These are the largest 27, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | NVDA | NVIDIA Corp Common Stock | 9.32% |
| 2 | AMD | Advanced Micro Devices | 7.54% |
| 3 | STX | Seagate Technology | 6.69% |
| 4 | TSM | Taiwan Semiconductor | 6.17% |
| 5 | LRCX | Lam Research Corp Common | 5.43% |
| 6 | ASML | Asml Holding NV Ny Reg | 4.72% |
| 7 | 005930.KS | Samsung Electronics Co | 4.14% |
| 8 | TXN | Texas Instruments Inc | 3.83% |
| 9 | AVGO | Broadcom Inc Common Stock | 3.74% |
| 10 | MSFT | Microsoft Corp Common | 3.71% |
| 11 | WDC | Western Digital Corp | 3.42% |
| 12 | MELI | Mercadolibre Inc Common | 3.38% |
| 13 | GOOGL | Alphabet Inc-Cl A - | 3.34% |
| 14 | MU | Micron Technology Inc | 3.22% |
| 15 | U | Unity Software Inc Common | 3.19% |
| 16 | CLS.TO | Celestica Inc Common | 3.12% |
| 17 | DASH | Doordash Inc Common Stock | 3.12% |
| 18 | AMZN | Amazon.com Inc Common | 3.08% |
| 19 | SPCX | Space Exploration | 2.97% |
| 20 | SHOP.TO | Shopify Inc Common Stock | 2.66% |
| 21 | KTOS | Kratos Defense & Security | 2.53% |
| 22 | BKNG | Booking Holdings Inc | 2.53% |
| 23 | NOW | Servicenow Inc Common | 2.38% |
| 24 | 639.DE | Spotify Technology SA | 2.15% |
| 25 | CDNS | Cadence Design Systems | 2.06% |
| 26 | AGPXX | Invesco Government & | 1.53% |
| 27 | — | Us Dollar | 0.01% |

Source: etf.net, https://etf.net/etf/FRWD. Please cite the page URL.