FDN vs LRND: Grades, Fees and Holdings Compared

First Trust Dow Jones Internet Index Fund

FDNCNYSE Arca

NYLI U.S. Large Cap R&D Leaders ETF

LRNDANasdaq

Overlap

18.7%by weight

Expense ratio

LRND −0.35pt a year

FDN0.49%LRND0.14%

Avg volume · 30D

FDN 5.4×the volume

FDN230KLRND42.7K

3Y return · a year

LRND +3.0pt

FDN+20.3%LRND+23.3%

FDN vs LRND Performance

Oct 31, 2025 – Oct 30, 2026

−6.2%FDN+9.0%LRND

Expense ratio: FDN 0.49%; LRND 0.14%, better
Fund size: FDN $4.8B; LRND $456M
1Y total return: FDN −6.2%; LRND +9.0%, better
Yield (12M): FDN 0.00%; LRND 0.34%, better
Holdings: FDN 42; LRND 110
Avg volume (30D): FDN 230K sh, better; LRND 42.7K sh
NAV per share: FDN $266.42; LRND $44.74
52W range

ETF.net Grade

Pillar letters and Scores for FDN, LRND, with each pillar’s weight
Pillar	FDN	LRND
Cost30% weight	C40	A100Higher
Mission25% weight	A74Higher	B55
Risk15% weight	D31	B62Higher
Tradability15% weight	A100Higher	A80
Holdings10% weight	D32Higher	F22
Durability5% weight	A96Higher	A74

Rank among US Thematic funds

How we build Categories ›

Same Category. FDN and LRND are both graded against the same 22 US Thematic funds, so their Grades compare head to head.

US Thematic⁠

Category · 22 funds

See all 22 ›

LRND ranks 1st and FDN 6th of 22 funds in the US Thematic Category.

Rank 1ALRNDNYLI U.S. Large Cap R&D Leaders ETFScore 76
Rank 2ATECBiShares U.S. Tech Breakthrough Multisector ETFScore 71
Rank 5BCRTCXtrackers US National Critical Technologies ETFScore 62
Rank 6CFDNFirst Trust Dow Jones Internet Index FundScore 52
Rank 7CVRAIVirtus Real Asset Income ETFScore 49

Our read on each fund

ETF.net Research

FDNCFirst Trust Dow Jones Internet Index Fund

LRNDANYLI U.S. Large Cap R&D Leaders ETF

In short

FDN The original internet ETF. Since 2006 it has held about 40 US companies that earn at least half their revenue from the internet, split between commerce and services: pure-play by construction, concentrated by design, and priced above the thematic average.

LRND No data

Stated mandate

FDN The Fund seeks to track, before fees and expenses, the price and yield performance of the Dow Jones Internet Composite Index. It normally invests at least 90% of net assets in securities comprising that index.

LRND No data

Why people hold it

FDN Launched in 2006, it is the elder statesman of internet funds: nearly two decades of continuous operation and a multi-billion-dollar asset base.
Genuinely pure-play. A company must earn at least 50% of its sales from the internet to enter the index, which holds roughly 40 of the largest, most actively traded names.spindices.com
No stock-picking. It replicates the Dow Jones Internet Composite Index, normally keeping at least 90% of net assets in the index's own constituents.ftportfolios.com
Sits in the upper half of the US thematic funds we review, with easy day-to-day trading a big part of why.

LRND No data

Worth knowing

FDN At 0.49% a year it runs above the typical US thematic fund (median 0.35%), and cohort leaders like TECB (0.30%) and LRND (0.14%) charge less for tech-flavored exposure.
Roughly 40 non-diversified holdings: the biggest internet names drive most of the ride, in both directions.ftportfolios.com
Built for price exposure, not income. Payouts have been absent recently, so cash flow is not the point here.

LRND No data

Full FDN profile⁠

Full LRND profile⁠

FDN vs LRND Holdings

How FDN and LRND differ

Overlap by weight

18.7%

Shared holdings make up 54.3% of FDN and 24.5% of LRND.

Level by level

Holdings15 in both18.7%
Sector9 Sectors70.0%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in FDN and LRND, widest gap first
Sector	More in FDNMore in LRND	FDN	LRND
Technology	LRND +17.9 points	44.4%	62.3%
Consumer Discretionary	FDN +16.6 points	22.3%	5.7%
Communication	FDN +11.6 points	28.9%	17.3%
Health Care	LRND +8.4 points	1.4%	9.8%
Financials	FDN +1.8 points	2.1%	0.3%
Industrials	LRND +1.6 points	0.8%	2.4%
Consumer Staples	LRND +1.6 points	0.0%	1.6%
Materials	LRND +0.6 points	0.0%	0.6%
Real Estate	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FDN and LRND, widest gap first
Country	More in FDNMore in LRND	FDN	LRND
United States	FDN +0.5 points	100.0%	99.5%
Switzerland	LRND +0.3 points	0.0%	0.3%
United Kingdom	LRND +0.1 points	0.0%	0.1%
Denmark	Same weight	0.0%	0.0%
Israel	Same weight	0.0%	0.0%
France	Same weight	0.0%	0.0%
Japan	Same weight	0.0%	0.0%
China	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

FDN61.0%
LRND69.4%

Securities held

FDN41
LRND110

Asset class

FDN: Equity
LRND: Equity

Holdings

Only in FDN26
In both15
Only in LRND95

Only in FDN

26 securities, 45.6% of FDN by weight

Netflix, Inc.5.55%
Salesforce, Inc.4.56%
Booking Holdings Inc.4.11%
Alphabet Inc. (Class C)4.08%
Oracle Corporation3.93%
Cloudflare, Inc. (Class A)3.33%
DoorDash, Inc. (Class A)2.48%
Carvana Co. (Class A)1.81%
PayPal Holdings, Inc.1.79%
eBay Inc.1.79%
Ciena Corporation1.69%
Okta, Inc.1.28%
Roblox Corporation (Class A)1.06%
Copart, Inc.0.94%
Zoom Communications, Inc. (Class A)0.93%
VeriSign, Inc.0.92%
CoreWeave, Inc. (Class A)0.78%
F5, Inc.0.71%
Samsara Inc. (Class A)0.58%
GoDaddy Inc. (Class A)0.55%
Circle Internet Group, Inc. (Class A)0.54%
Reddit, Inc. (Class A)0.49%
Akamai Technologies, Inc.0.49%
Flutter Entertainment Plc0.43%
DraftKings Inc.0.38%
Paycom Software, Inc.0.38%

Only in LRND

95 securities, 75.5% of LRND by weight

NVIDIA Corporation16.36%
Apple Inc.10.31%
Microsoft Corporation8.08%
Eli Lilly and Company4.93%
Broadcom Inc.4.38%
Advanced Micro Devices, Inc.3.81%
Palantir Technologies Inc. Class A1.96%
Applied Materials, Inc.1.43%
Amgen Inc.1.41%
Lam Research Corporation1.38%
PepsiCo, Inc.1.05%
QUALCOMM Incorporated0.80%
Marvell Technology, Inc.0.80%
Vertex Pharmaceuticals Incorporated0.79%
Vanguard Information Technology ETF0.75%
State Street Technology Select Sector SPDR ETF0.75%
Fidelity MSCI Information Technology Index ETF0.74%
State Street Communication Services Select Sector SPDR ETF0.72%
Automatic Data Processing, Inc.0.65%
Dell Technologies, Inc. Class C0.62%
VanEck Pharmaceutical ETF0.58%
Vanguard Communication Services ETF0.57%
State Street Consumer Discretionary Select Sector SPDR ETF0.56%
Regeneron Pharmaceuticals, Inc.0.53%
Trane Technologies plc0.51%
ServiceNow, Inc.0.50%
Vertiv Holdings Co. Class A0.50%
Fortinet, Inc.0.46%
Adobe Inc.0.46%
Sherwin-Williams Company0.45%
Illinois Tool Works Inc.0.44%
Colgate-Palmolive Company0.43%
Intuit Inc.0.42%
Cadence Design Systems, Inc.0.42%
Synopsys, Inc.0.41%
Garmin Ltd.0.29%
Monolithic Power Systems, Inc.0.28%
Vylor Inc0.27%
Cash0.27%
Keysight Technologies Inc0.24%
Autodesk, Inc.0.24%
Everpure, Inc. Class A0.20%
Axon Enterprise Inc0.19%
Mettler-Toledo International Inc.0.19%
ResMed Inc.0.19%
Zoetis, Inc. Class A0.18%
Rocket Lab Corporation0.18%
DexCom, Inc.0.17%
SharkNinja, Inc.0.16%
Ubiquiti Inc.0.16%

Weight gaps

All 15 Holdings in both funds, largest gap first.

Holding weights in FDN and LRND, widest gap first
Holding	More in FDNMore in LRND	FDN	LRND
Cisco Systems, Inc.CSCO	FDN +7.07 points	8.98%	1.91%
Meta Platforms, Inc. (Class A)META	FDN +6.08 points	10.17%	4.09%
Alphabet Inc. (Class A)GOOGL	LRND +5.85 points	5.07%	10.92%
Amazon.com, Inc.AMZN	FDN +5.73 points	10.29%	4.56%
Snowflake Inc. (Class A)SNOW	FDN +3.41 points	3.91%	0.50%
Arista Networks, Inc.ANET	FDN +3.28 points	4.26%	0.98%
Datadog, Inc. (Class A)DDOG	FDN +2.56 points	2.92%	0.36%
Airbnb, Inc. (Class A)ABNB	FDN +2.15 points	2.54%	0.39%
Veeva Systems Inc. (Class A)VEEV	FDN +1.43 points	1.71%	0.28%
Workday, Inc. (Class A)WDAY	FDN +1.29 points	1.47%	0.18%
Atlassian Corporation (Class A)TEAM	FDN +0.99 points	1.13%	0.14%
Nutanix, Inc. (Class A)NTNX	FDN +0.59 points	0.67%	0.08%
DocuSign, Inc.DOCU	FDN +0.51 points	0.58%	0.07%
HubSpot, Inc.HUBS	FDN +0.38 points	0.43%	0.05%
Duolingo, Inc.DUOL	FDN +0.17 points	0.20%	0.03%

All 41 FDN holdings⁠All 107 LRND 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.

FDN vs LRND Cost

Overpaying FDN vs LRND

$6,860

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

FDN 0.49%
$9,792
LRND 0.14%
$2,932

Amount$10,000

Years30 years

Cost over time

FDN 0.49%
LRND 0.14%
Overpaying

Year by year

Year	FDN	LRND	Overpaying
10	$883	$256	$627
20	$3,394	$1,000	$2,394
30	$9,792	$2,932	$6,860

Expense ratio

0.49%FDN
0.14%LRND, cheaper

LRND0.14%FDN0.49%

0.14%0.87%

Middle half of US Thematic funds
Median 0.35%

LRND cheapest of 22 funds

FDN 13th cheapest of 22 funds

FDN vs LRND Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FDN 0.00%; LRND 0.34%, better
Payout (12M): FDN None; LRND $0.15
Last payment: FDN No data; LRND $0.04
Ex-dividend: FDN No data; LRND Sep 30, 2026
Paid on: FDN No data; LRND Oct 2, 2026
Frequency: FDN No data; LRND Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FDNAll FDN payments⁠

No distribution history available.

LRNDQuarterly · 19 paymentsAll LRND payments⁠

FDN vs LRND Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FDN 20.2%LRND 15.9%, better
Return per unit of riskSharpe ratio, 3 years: FDN 0.80LRND 1.13, better
Worst fallMax drawdown, 5 years: FDN −53.6%LRND −25.4%since Feb 2022
Market sensitivityBeta, 5 years: FDN 1.23LRND 1.06; Market = 1

FDN and LRND in the news

All news⁠

ETF Filings
First Trust files an autocallable ETF that can still lose the whole amount
16 hours agoFDN

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FDN vs LRND

In short

Stated mandate

Why people hold it

Worth knowing

How FDN and LRND differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FDN

Only in LRND

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

First Trust files an autocallable ETF that can still lose the whole amount

How FDN and LRND differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FDN

Only in LRND

Weight gaps