DUNK vs XT: Grades, Fees and Holdings Compared

Dana Unconstrained Equity ETF

DUNKDNYSE Arca

iShares Future Exponential Technologies ETF

XTANasdaq

Overlap

26.6%by weight

Expense ratio

XT −0.29pt a year

DUNK0.75%XT0.46%

Avg volume · 30D

XT 6.1×the volume

DUNK11.3KXT68.5K

DUNK vs XT Performance

Nov 7, 2025 – Nov 9, 2026

+11.6%DUNK+21.6%XT

Expense ratio: DUNK 0.75%; XT 0.46%, better
Fund size: DUNK $166M; XT $3.81B
1Y total return: DUNK +11.6%; XT +21.6%, better
Yield (12M): DUNK No data; XT 6.88%
Holdings: DUNK 26; XT 216
Avg volume (30D): DUNK 11.3K sh; XT 68.5K sh, better
NAV per share: DUNK $27.29; XT $79.88
52W range

ETF.net Grade

Pillar letters and Scores for DUNK, XT, with each pillar’s weight
Pillar	DUNK	XT
Cost30% weight	F22	A95Higher
Mission25% weight	B55	Not scored
Risk15% weight	B58	A85Higher
Tradability15% weight	D38	A77Higher
Holdings10% weight	D30	B67Higher
Durability5% weight	C47	A97Higher

Rank among Disruptive Innovation funds

How we build Categories ›

Same Category. DUNK and XT are both graded against the same 30 Disruptive Innovation funds, so their Grades compare head to head.

Disruptive Innovation⁠

Category · 30 funds

See all 30 ›

XT ranks 1st and DUNK 26th of 30 funds in the Disruptive Innovation Category.

Rank 1AXTiShares Future Exponential Technologies ETFScore 85
Rank 2AKOMPState Street SPDR S&P Kensho New Economies Composite ETFScore 84
Rank 25DYNOTHorizon Digital Frontier ETFScore 36
Rank 26DDUNKDana Unconstrained Equity ETFScore 35
Rank 27DTMATMain Thematic Innovation ETFScore 33

Our read on each fund

ETF.net Research

DUNKDDana Unconstrained Equity ETF

XTAiShares Future Exponential Technologies ETF

In short

DUNK Most disruptive-tech funds buy the story. Dana's 2025 entry is an active portfolio that leans toward innovators already posting rising profits and business momentum, with valuation risk as a stated brake. Innovation with a profitability filter.

XT Innovation, spread thin on purpose. XT holds roughly 200 global companies scored by Morningstar analysts for exposure to a handful of exponential tech themes, so no single moonshot carries the fund.

Stated mandate

DUNK The Fund seeks long-term growth of capital through active investment primarily in U.S.-listed equity companies involved in, or expected to benefit from, disruptive technologies. The strategy emphasizes companies with rising profitability and business momentum while considering valuation risk.

XT XT seeks to track an index of stocks from developed and emerging markets whose companies create or use exponential technologies. The strategy targets technologies with potential economic benefits, including the ability to displace older technologies or create new markets.

Why people hold it

DUNK Actively run rather than index-bound: the mandate emphasizes disruptive-technology companies with rising profitability and business momentum, not just a good pitch deck.
Valuation risk is written into the strategy itself, an unusual guardrail in a corner of the market known for paying up for growth.
Sticks to U.S.-listed equities, so you get the innovation theme without a currency or foreign-market layer stacked on top.

XT Cheap for the theme at 0.46% a year, below the typical fee in its disruptive-innovation cohort and under peers like TRFM and FDTX.
Human fingerprint on the stock list: Morningstar equity analysts score companies on theme exposure instead of sorting by keywords or revenue tags.sec.gov contentstack.io
Global by construction (developed and emerging markets) and not fenced into the tech sector, so a drugmaker or an industrial can qualify on theme exposure.sec.gov
Launched in 2015 and now a multi-billion-dollar iShares fund, it stands among the stronger builds in its innovation peer group.ishares.com

Worth knowing

DUNK At 0.75% a year it runs above the typical disruptive-innovation ETF, and well above index-based rivals such as KOMP (0.20%) and XT (0.46%).
Launched in September 2025, so there is little live record behind the manager's stock picks, and it trades lightly, which tends to mean wider spreads.
Built around long-term growth of capital, not income; payouts are not part of the design.

XT The index has been reworked since launch (weighting scheme, theme list), and themes get an annual review, so today's tilt is not fixed forever.morningstar.com sec.gov
Moderately traded rather than a household name, which can mean wider spreads than the biggest tech ETFs.
About 200 positions dilutes any single breakout winner, and distributions land only once or twice a year.

Full DUNK profile⁠

Full XT profile⁠

DUNK vs XT Holdings

How DUNK and XT differ

Overlap by weight

26.6%

Shared holdings make up 53.4% of DUNK and 28.2% of XT.

Level by level

Holdings11 in both26.6%
Countryby domicile75.0%
Sector10 Sectors75.3%
Asset classStocks100%

Sector

Sector weights in DUNK and XT, widest gap first
Sector	Gap	DUNK	XT
Health Care	XT +9.4 points	20.1%	29.5%
Financials	DUNK +8.5 points	13.1%	4.6%
Consumer Discretionary	DUNK +7.9 points	15.6%	7.7%
Technology	DUNK +7.2 points	47.3%	40.1%
Industrials	XT +7.1 points	1.2%	8.3%
Utilities	XT +4.5 points	0.0%	4.5%
Communication	XT +2.3 points	1.7%	4.0%
Materials	XT +1.4 points	0.0%	1.4%
Energy	DUNK +0.9 points	0.9%	0.0%
Real Estate	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in DUNK and XT, widest gap first
Country	Gap	DUNK	XT
United States	DUNK +18.3 points	93.3%	75.0%
Canada	DUNK +6.7 points	6.7%	0.0%
United Kingdom	XT +4.1 points	0.0%	4.1%
Switzerland	XT +3.3 points	0.0%	3.3%
China	XT +3.1 points	0.0%	3.1%
Japan	XT +2.8 points	0.0%	2.8%
Germany	XT +2.5 points	0.0%	2.5%
Taiwan	XT +2.0 points	0.0%	2.0%
Other countries (5)	XT +7.2 points	0.0%	7.2%

Outside the US: XT 75% developed, 25% emerging.

Concentration

Weight in the 10 largest Holdings

DUNK67.6%
XT36.0%

Securities held

DUNK26
XT193

Asset class

DUNK: Stocks
XT: Stocks

Holdings

Only in DUNK15
In both11
Only in XT182

Only in DUNK

15 securities, 46.6% of DUNK by weight

Shopify Inc6.77%
Visa Inc6.75%
Mastercard Inc6.01%
DoorDash Inc5.35%
Datadog Inc4.44%
Airbnb Inc4.30%
ServiceNow Inc2.71%
Revolution Medicines Inc2.54%
Starbucks Corp2.48%
First American Government Obligations Fund 12/01/20311.26%
Ge Aerospace1.20%
EOG Resources Inc0.93%
Viking Therapeutics Inc0.75%
Lam Research Corp0.67%
Uber Technologies Inc0.49%

Only in XT

182 securities, 71.4% of XT by weight

Texas Instrument4.35%
Tesla Inc4.16%
Palo Alto Networks3.05%
Crowdstrike Holdings Class A2.44%
Alphabet Class A1.86%
Merck & Co Inc1.83%
Intuitive Surgical1.71%
Taiwan Semiconductor Manufacturing1.71%
Roche Ps Par AG1.69%
Iberdrola1.63%
Novartis AG1.56%
Astrazeneca PLC1.47%
S&P Global1.41%
Amgen Inc1.26%
Xiaomi1.11%
Cisco Systems Inc1.08%
Infineon Technologies AG1.05%
Gilead Sciences1.03%
Nxp Semiconductors NV1.01%
Te Connectivity PLC1.00%
Cloudflare Class A0.98%
Emerson Electric0.94%
Enel0.89%
Murata Manufacturing0.87%
Pfizer0.86%
Fortinet0.84%
Micron Technology0.82%
Northrop Grumman Corp0.81%
Bae Systems PLC0.79%
Danaher0.78%
Air Products and Chemicals0.73%
Vertex Pharmaceuticals0.71%
Bristol Myers Squibb0.65%
Novo Nordisk Class B0.64%
London Stock Exchange Group PLC0.59%
Ge Vernova0.57%
Sanofi SA0.54%
Engie SA0.53%
Glaxosmithkline0.53%
Nasdaq Inc0.50%
Rheinmetall AG0.48%
Sk Hynix0.48%
Block Class A0.48%
Rwe AG0.45%
Moderna0.45%
Regeneron Pharmaceuticals0.44%
Sse PLC0.44%
Renesas Electronics Corp0.43%
Rockwell Automation Inc0.43%
Palantir Technologies Class A0.42%

Weight gaps

All 11 Holdings in both funds, largest gap first.

Holding weights in DUNK and XT, widest gap first
Holding	Gap	DUNK	XT
Snowflake IncSNOW	DUNK +10.08 points	10.18%	0.10%
Microsoft CorpMSFT	DUNK +5.56 points	9.93%	4.37%
AbbVie IncABBV	DUNK +3.69 points	6.33%	2.64%
NVIDIA CorpNVDA	DUNK +1.97 points	5.31%	3.33%
Analog Devices IncADI	XT +1.62 points	1.40%	3.02%
Amazon.com IncAMZN	DUNK +1.61 points	4.46%	2.85%
Johnson & JohnsonJNJ	DUNK +1.49 points	4.79%	3.30%
Eli Lilly & CoLLY	DUNK +1.33 points	6.18%	4.85%
Advanced Micro Devices IncAMD	DUNK +0.73 points	1.53%	0.80%
Meta Platforms IncMETA	DUNK +0.24 points	1.63%	1.39%
Broadcom IncAVGO	DUNK +0.05 points	1.63%	1.58%

All DUNK holdings⁠All 193 XT 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.

DUNK vs XT Cost

Overpaying DUNK vs XT

$5,252

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

DUNK 0.75%
$14,482
XT 0.46%
$9,230

Amount$10,000

Years30 years

Cost over time

DUNK 0.75%
XT 0.46%
Overpaying

Year by year

Year	DUNK	XT	Overpaying
10	$1,336	$830	$506
20	$5,078	$3,195	$1,883
30	$14,482	$9,230	$5,252

Expense ratio

0.75%DUNK
0.46%XT, cheaper

XT0.46%DUNK0.75%

0.20%0.90%

Middle half of Disruptive Innovation funds
Median 0.65%

XT 3rd cheapest of 30 funds

DUNK 20th cheapest of 30 funds

DUNK vs XT Dividends

Last 12 months to Nov 9, 2026

Yield (12M): DUNK No data; XT 6.88%
Payout (12M): DUNK None; XT $5.69
Last payment: DUNK No data; XT $0.36
Ex-dividend: DUNK No data; XT Jun 15, 2026
Paid on: DUNK No data; XT Jun 18, 2026
Frequency: DUNK No data; XT Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DUNKAll DUNK payments⁠

No distribution history available.

XTTwice a year · 23 paymentsAll XT payments⁠

DUNK vs XT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DUNK 25.1%since Oct 2025XT 16.5%
Return per unit of riskSharpe ratio, 3 years: DUNK 0.34since Oct 2025XT 1.08
Worst fallMax drawdown, 5 years: DUNK −25.6%since Sep 2025XT −34.4%
Market sensitivityBeta, 5 years: DUNK 1.36XT 1.35; Market = 1

DUNK and XT in the news

All news⁠

ETF Filings
Golden Eagle files a second ETF without the 40% sales rule of the fund it already runs
Oct 8, 2026XT
Deep Dive
Disruptive innovation ETFs share a label, not a portfolio
Sep 11, 2026XT

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