ARVR vs KNCT: Grades, Fees and Holdings Compared

First Trust Indxx Metaverse ETF

ARVRDNasdaq

Invesco Next Gen Connectivity ETF

KNCTBNYSE Arca

Overlap

12.0%by weight

Expense ratio

KNCT −0.30pt a year

ARVR0.70%KNCT0.40%

Avg volume · 30D

KNCT 8.1×the volume

ARVR378KNCT3.08K

3Y return · a year

KNCT +8.0pt

ARVR+23.3%KNCT+31.3%

ARVR vs KNCT Performance

Nov 7, 2025 – Nov 9, 2026

+16.5%ARVR+33.7%KNCT

Expense ratio: ARVR 0.70%; KNCT 0.40%, better
Fund size: ARVR $8M; KNCT $131M
1Y total return: ARVR +16.5%; KNCT +33.7%, better
Yield (12M): ARVR 0.64%; KNCT 0.94%, better
Holdings: ARVR 44; KNCT 108
Avg volume (30D): ARVR 378 sh; KNCT 3.08K sh, better
NAV per share: ARVR $54.70; KNCT $165.81
52W range

ETF.net Grade

Pillar letters and Scores for ARVR, KNCT, with each pillar’s weight
Pillar	ARVR	KNCT
Cost30% weight	F21	A81Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B67Higher	C46
Tradability15% weight	F10	B60Higher
Holdings10% weight	A76Higher	D39
Durability5% weight	C42	B65Higher

Rank among Metaverse & Connectivity funds

How we build Categories ›

Same Category. ARVR and KNCT are both graded against the same 6 Metaverse & Connectivity funds, so their Grades compare head to head.

Metaverse & Connectivity⁠

Category · 6 funds

See all 6 ›

KNCT ranks 1st and ARVR 6th of 6 funds in the Metaverse & Connectivity Category.

Rank 1BKNCTInvesco Next Gen Connectivity ETFScore 63
Rank 2BFMETFidelity Metaverse ETFScore 62
Rank 5CSNSRGlobal X Internet of Things ETFScore 45
Rank 6DARVRFirst Trust Indxx Metaverse ETFScore 36

Our read on each fund

ETF.net Research

ARVRDFirst Trust Indxx Metaverse ETF

KNCTBInvesco Next Gen Connectivity ETF

In short

ARVR A literal bet on the metaverse: roughly 50 global companies tied to virtual worlds, tracked by index rather than a manager's hunch. First Trust launched it in 2022, right as the theme crested.

KNCT A next-gen connectivity theme sitting on an unusually old ticker: KNCT dates to 2005. Today it tracks a global index of roughly 100 connectivity names for 0.40% a year.

Stated mandate

ARVR The Fund seeks investment results that generally track the price and yield performance of the Indxx Metaverse Index, before fees and expenses.

KNCT The fund is designed to follow the STOXX World AC NexGen Connectivity Index and normally invests at least 90% of its total assets in common stocks included in that Index.

Why people hold it

ARVR Pure single-theme exposure. It tracks the Indxx Metaverse Index, about 50 global stocks, with no broad-tech filler diluting the idea you came for.
Global by mandate, not US-only, so the basket can reach the Asian hardware and chip names that build the plumbing for virtual worlds.
Plain-vanilla plumbing from a large, long-established issuer: a standard 1940 Act stock fund. No leverage, no swaps, no K-1 at tax time.
Live since 2022, so it carries a multi-year track record through the theme's hype cycle rather than a backtest.

KNCT 0.40% a year undercuts what global thematic funds typically charge, so less of the theme's upside leaks out as fees.
Rules, not hunches: normally at least 90% of assets sit in common stocks from the STOXX World AC NexGen Connectivity Index.invesco.com
Global mandate rather than a US-only tech sleeve, spread across roughly 100 holdings, with distributions paid quarterly.
An operating history running back to 2005, a long resume in a category where most theme funds are only a few years old.

Worth knowing

ARVR The 0.70% expense ratio sits above the median for global thematic funds, and cheaper broad-theme rivals like UFOX charge 0.30%.
It is a small fund that trades lightly. Spreads can run wider than a mainstream ETF's, and sizable orders can nudge the price.
Roughly 50 names in one narrow theme means individual stocks and sentiment swings drive the ride, and payouts come once or twice a year at most.

KNCT Thinly traded. Spreads can widen and quotes get jumpy, especially away from the market's busiest hours.
One theme, roughly 100 stocks. The ride can look nothing like a broad global index in either direction.
Asset base is modest by ETF standards, which is worth knowing for anyone sizing a large position.

Full ARVR profile⁠

Full KNCT profile⁠

ARVR vs KNCT Holdings

How ARVR and KNCT differ

Overlap by weight

12.0%

Shared holdings make up 24.8% of KNCT and 18.2% of ARVR.

Level by level

Holdings7 in both12.0%
Countryby domicile69.4%
Sector5 Sectors70.9%
Asset classStocks100%

Sector

Sector weights in ARVR and KNCT, widest gap first
Sector	Gap	ARVR	KNCT
Communication	ARVR +26.2 points	38.5%	12.3%
Technology	KNCT +25.0 points	58.2%	83.2%
Real Estate	KNCT +4.0 points	0.0%	4.0%
Health Care	ARVR +2.0 points	2.0%	0.0%
Industrials	ARVR +0.9 points	1.4%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in ARVR and KNCT, widest gap first
Country	Gap	ARVR	KNCT
Japan	ARVR +16.9 points	19.8%	2.9%
United States	KNCT +15.3 points	55.8%	71.1%
China	ARVR +11.2 points	12.3%	1.1%
South Korea	KNCT +5.8 points	4.0%	9.8%
Taiwan	KNCT +4.0 points	5.5%	9.6%
Singapore	ARVR +2.4 points	2.4%	0.0%
Germany	KNCT +0.9 points	0.0%	0.9%
India	KNCT +0.9 points	0.0%	0.9%
Other countries (12)	KNCT +3.7 points	0.0%	3.7%

Outside the US: ARVR 50% developed, 50% emerging. KNCT 22% developed, 78% emerging.

Concentration

Weight in the 10 largest Holdings

ARVR34.7%
KNCT55.7%

Securities held

ARVR41
KNCT102

Asset class

ARVR: Stocks
KNCT: Stocks

Holdings

Only in ARVR34
In both7
Only in KNCT95

Only in ARVR

34 securities, 80.8% of ARVR by weight

Xiaomi Corporation (Class B)4.10%
Unity Software Inc.3.59%
Sony Group Corp.3.56%
Nexon Co., Ltd.3.49%
Roblox Corporation (Class A)3.46%
NetEase, Inc.3.43%
Nintendo Co., Ltd.3.29%
Take-Two Interactive Software, Inc.3.28%
Tencent Holdings Limited3.26%
Microsoft Corporation3.25%
Adobe Incorporated3.17%
Texas Instruments Incorporated3.08%
Capcom Co., Ltd.3.07%
Zoom Communications, Inc. (Class A)3.03%
Netflix, Inc.2.83%
Meta Platforms, Inc. (Class A)2.71%
Taiwan Semiconductor Manufacturing Company Limited (ADR)2.62%
NVIDIA Corporation2.59%
STMicroelectronics NV2.49%
Advanced Micro Devices, Inc.2.31%
Teladoc Health, Inc.2.01%
Krafton, Inc.1.48%
Koei Tecmo Holdings Co., Ltd.1.40%
Square Enix Holdings Co., Ltd.1.40%
Sunny Optical Technology (Group) Company Limited1.36%
MIXI Inc.1.34%
DeNA Co., Ltd.1.34%
Netmarble Corporation1.29%
Pearl Abyss Corp.1.27%
Grindr Inc.1.15%
PixArt Imaging Inc.1.13%
Sercomm Corporation1.09%
Snap Inc. (Class A)1.07%
AU Optronics Corp.0.90%

Only in KNCT

95 securities, 75.0% of KNCT by weight

Taiwan Semiconductor Manufacturing Co Ltd8.17%
Broadcom Inc7.81%
Samsung Electronics Co Ltd5.58%
SK hynix Inc4.40%
Cisco Systems Inc3.88%
Palo Alto Networks Inc3.22%
Crowdstrike Holdings Inc2.78%
Verizon Communications Inc2.39%
Arista Networks Inc2.30%
AT&T Inc1.84%
International Business Machines Corp1.76%
Marvell Technology Inc1.55%
Equinix Inc1.26%
Accenture PLC1.21%
American Tower Corp1.11%
Cloudflare Inc1.09%
T-Mobile US Inc0.98%
Fortinet Inc0.93%
Cadence Design Systems Inc0.93%
Motorola Solutions Inc0.90%
Bharti Airtel Ltd0.88%
Deutsche Telekom AG0.84%
Digital Realty Trust Inc0.77%
Datadog Inc0.75%
SoftBank Group Corp0.64%
Comcast Corp0.63%
Lumentum Holdings Inc0.61%
Nokia Oyj0.53%
Xiaomi Corp0.52%
KDDI Corp0.51%
TE Connectivity PLC0.50%
Crown Castle Inc0.47%
Coherent Corp0.45%
Ciena Corp0.43%
United Microelectronics Corp0.42%
NetApp Inc0.42%
Astera Labs Inc0.42%
Keysight Technologies Inc0.40%
Telefonaktiebolaget LM Ericsson0.38%
America Movil SAB de CV0.37%
Vodafone Group PLC0.37%
Okta Inc0.35%
NEC Corp0.34%
ARM Holdings PLC0.32%
MongoDB Inc0.32%
NTT Inc0.31%
SoftBank Corp0.29%
Credo Technology Group Holding Ltd0.28%
Fujitsu Ltd0.28%
Orange SA0.27%

Weight gaps

All 7 Holdings in both funds, largest gap first.

Holding weights in ARVR and KNCT, widest gap first
Holding	Gap	ARVR	KNCT
Apple Inc.AAPL	KNCT +6.85 points	3.21%	10.06%
Micron Technology, Inc.MU	KNCT +4.64 points	2.13%	6.77%
Microchip Technology IncorporatedMCHP	ARVR +2.18 points	2.47%	0.29%
Synopsys, Inc.SNPS	ARVR +1.83 points	2.89%	1.06%
Intel CorporationINTC	KNCT +1.35 points	1.68%	3.03%
Amphenol CorporationAPH	ARVR +1.15 points	2.79%	1.64%
QUALCOMM IncorporatedQCOM	ARVR +1.02 points	3.00%	1.98%

All 41 ARVR holdings⁠All 101 KNCT holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ARVR vs KNCT Cost

Overpaying ARVR vs KNCT

$5,516

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ARVR 0.70%
$13,606
KNCT 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

ARVR 0.70%
KNCT 0.40%
Overpaying

Year by year

Year	ARVR	KNCT	Overpaying
10	$1,250	$723	$527
20	$4,760	$2,793	$1,967
30	$13,606	$8,090	$5,516

Expense ratio

0.70%ARVR
0.40%KNCT, cheaper

KNCT0.40%ARVR0.70%

0.39%0.70%

Middle half of Metaverse & Connectivity funds
Median 0.64%

KNCT 2nd cheapest of 6 funds

ARVR 5th cheapest of 6 funds

ARVR vs KNCT Dividends

Last 12 months to Nov 9, 2026

Yield (12M): ARVR 0.64%; KNCT 0.94%, better
Payout (12M): ARVR $0.37; KNCT $1.64
Last payment: ARVR $0.11; KNCT $0.72
Ex-dividend: ARVR Jun 25, 2026; KNCT Sep 21, 2026
Paid on: ARVR Jun 30, 2026; KNCT Sep 25, 2026
Frequency: ARVR Twice a year; KNCT Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ARVRTwice a year · 7 paymentsAll ARVR payments⁠

KNCTQuarterly · 31 paymentsAll KNCT payments⁠

ARVR vs KNCT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ARVR 18.9%, betterKNCT 24.1%
Return per unit of riskSharpe ratio, 3 years: ARVR 1.04KNCT 1.21, better
Worst fallMax drawdown, 5 years: ARVR −25.9%since Apr 2022KNCT −34.6%
Market sensitivityBeta, 5 years: ARVR 1.37KNCT 1.37; Market = 1

Popular comparisons

ARVRDvsFMETB
First Trust Indxx Metaverse ETF · Fidelity Metaverse ETF
Expense ratio
0.70% · 0.39%
Category
KNCTBvsFMETB
Invesco Next Gen Connectivity ETF · Fidelity Metaverse ETF
Expense ratio
0.40% · 0.39%
Category
ARVRDvsMETVC
First Trust Indxx Metaverse ETF · Roundhill Metaverse ETF
Expense ratio
0.70% · 0.59%
Category
KNCTBvsMETVC
Invesco Next Gen Connectivity ETF · Roundhill Metaverse ETF
Expense ratio
0.40% · 0.59%
Category
ARVRDvsNXTGC
First Trust Indxx Metaverse ETF · First Trust Indxx NextG ETF
Expense ratio
0.70% · 0.70%
Category
KNCTBvsNXTGC
Invesco Next Gen Connectivity ETF · First Trust Indxx NextG ETF
Expense ratio
0.40% · 0.70%
Category