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FRWD vs XITK

Nomura Transformational Technologies ETF

FRWDBNasdaq

State Street SPDR FactSet Innovative Technology ETF

XITKANYSE Arca

Overlap

6.6%by weight

Expense ratio

XITK −0.20pt a year

FRWD0.65%XITK0.45%

Avg volume · 30D

FRWD 38.3×the volume

FRWD82.4KXITK2.15K

FRWD vs XITK Performance

Jul 31, 2026 – Oct 30, 2026

−6.2%FRWD+2.8%XITK

Jul 31, 2026 to Oct 30, 2026. FRWD −6.2%. XITK +2.8%. Use the arrow keys to read each point.0%10%15%Jul 2026Sep 2026Oct 2026
Expense ratio
FRWD 0.65%
XITK 0.45%, better
Fund size
FRWD $260M
XITK $67M
1Y total return
FRWD No data
XITK +0.6%
Yield (12M)
FRWD No data
XITK 0.00%
Holdings
FRWD 28
XITK 95
Avg volume (30D)
FRWD 82.4K sh, better
XITK 2.15K sh
NAV per share
FRWD $30.82
XITK $197.42
52W range

ETF.net Grade

FRWD: Cost 53, Risk 62, Mission not scored, Tradability 85, Holdings 36, Durability 63. XITK: Cost 95, Risk 37, Mission not scored, Tradability 65, Holdings 81, Durability 73.
Pillar letters and Scores for FRWD, XITK, with each pillar’s weight
PillarFRWDXITK
Cost30% weightC53A95Higher
Mission25% weightNot scoredNot scored
Risk15% weightB62HigherD37
Tradability15% weightA85HigherB65
Holdings10% weightD36A81Higher
Durability5% weightB63A73Higher

Rank among Disruptive Innovation funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FRWD and XITK 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 ›

XITK ranks 4th and FRWD 9th of 30 funds in the Disruptive Innovation Category.

  1. Rank 1AXTiShares Future Exponential Technologies ETFScore 86
  2. Rank 2AKOMPState Street SPDR S&P Kensho New Economies Composite ETFScore 83
  3. Rank 3ATRFMAAM Transformers ETFScore 74
  4. Rank 4AXITKState Street SPDR FactSet Innovative Technology ETFScore 73
  5. Rank 5AGINNGoldman Sachs Innovate Equity ETFScore 70
  6. Rank 6BTNXTT. Rowe Price Innovation Leaders ETFScore 65
  7. Rank 9BFRWDNomura Transformational Technologies ETFScore 59
  8. Rank 10BFWDAB Disruptors ETFScore 58

Our read on each fund

ETF.net Research

FRWDBNomura Transformational Technologies ETF

XITKAState Street SPDR FactSet Innovative Technology ETF

In short

FRWD No data

XITK Most innovation funds pick a theme and hope. XITK lets the data pick: FactSet ranks tech and electronic-media segments by growth, keeps the top quartile, then equal-weights roughly 100 names so no single giant runs the show.

Stated mandate

FRWD No data

XITK The fund seeks to track the total return of the FactSet Innovative Technology Index before fees and expenses. Its mandate targets innovative technology-related companies with robust revenue growth and leading-edge products or services.

Why people hold it

FRWD No data

  • XITK Costs 0.45% a year, comfortably under the 0.65% median for disruptive-innovation funds, and it does it inside a plain index wrapper from a major ETF shop.
  • Equal weighting at each reset gives the hundredth holding the same slot as the first, so results lean on the whole basket rather than two or three mega-caps.factset.com
  • Screens segments, not slogans: only companies drawing most of their revenue from the fastest-growing corners of tech and electronic media make the cut.factset.comssga.com
  • Trading since 2016, giving it a live record across several tech cycles, and it sits in the upper tier of our innovation-fund cohort review.

Worth knowing

FRWD No data

  • XITK Growth-screened tech, equal-weighted, means smaller names carry a giant's weight. Expect a rougher ride than a cap-weighted tech fund.
  • Thinly traded for its category and modest in size, so bid-ask spreads can run wider than the household-name tech ETFs.
  • Cheaper shelfmates exist: KOMP runs a broad new-economy basket for 0.20%.

Full FRWD profile⁠

Full XITK profile⁠

FRWD vs XITK Holdings

How FRWD and XITK differ

Overlap by weight

6.6%

Shared holdings make up 23.2% of FRWD and 6.6% of XITK.

Level by level

  • Holdings5 in both6.6%
  • Countryby domicile78.1%
  • Sector7 Sectors85.4%
  • Asset classEquity100%

Sector

Sector weights in FRWD and XITK, widest gap first
SectorMore in FRWDMore in XITK
Consumer DiscretionaryFRWD +9.7 points
TechnologyXITK +8.8 points
Health CareXITK +4.2 points
IndustrialsFRWD +4.2 points
CommunicationXITK +1.2 points
FinancialsFRWD +0.8 points
Real EstateXITK +0.4 points

Country, concentration and asset class

Country by domicile

Country weights in FRWD and XITK, widest gap first
CountryMore in FRWDMore in XITK
United StatesXITK +17.7 points
CanadaFRWD +5.1 points
TaiwanFRWD +5.0 points
NetherlandsFRWD +4.5 points
South KoreaFRWD +4.3 points
ChinaXITK +3.6 points
BrazilFRWD +3.2 points
IsraelXITK +0.6 points

Concentration

Weight in the 10 largest Holdings

  • FRWD56.4%
  • XITK22.1%

Securities held

  • FRWD27
  • XITK94

Asset class

FRWD
Equity
XITK
Equity

Holdings

  • Only in FRWD22
  • In both5
  • Only in XITK89

Only in FRWD

22 securities, 76.8% of FRWD by weight

  • Seagate Technology6.61%
  • Microsoft Corp Common5.87%
  • Taiwan Semiconductor5.80%

Only in XITK

89 securities, 93.3% of XITK by weight

  • Axt Inc4.00%
  • Silicon Motion Technol Adr2.53%
  • Applied Optoelectronics Inc2.41%

Weight gaps

All 5 Holdings in both funds, largest gap first.

Holding weights in FRWD and XITK, widest gap first
HoldingMore in FRWDMore in XITK
NVIDIA Corp Common StockNVDAFRWD +8.40 points
Advanced Micro DevicesAMDFRWD +4.28 points
Broadcom Inc Common StockAVGOFRWD +3.03 points
Meta Platforms Inc CommonMETAFRWD +0.72 points
Alphabet Inc-Cl A -GOOGLFRWD +0.21 points

All FRWD holdings⁠All 94 XITK 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.

FRWD vs XITK Cost

Overpaying FRWD vs XITK

$3,676

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

  • FRWD 0.65%

    $12,717

  • XITK 0.45%

    $9,041

$10,000
30 years

Cost over time

  • FRWD 0.65%
  • XITK 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530FRWD $12,717XITK $9,041

Year by year

YearFRWDXITKOverpaying
10$1,163$812$351
20$4,440$3,128$1,312
30$12,717$9,041$3,676

Expense ratio

  • 0.65%FRWD
  • 0.45%XITK, cheaper
  • Middle half of Disruptive Innovation funds
  • Median 0.65%

XITK 2nd cheapest of 30 funds

FRWD 12th cheapest of 30 funds

FRWD vs XITK Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FRWD No data
XITK 0.00%
Payout (12M)
FRWD None
XITK None

Distribution history

Per share, 2016 to 2023, same scale for both

FRWDAll FRWD payments⁠

No distribution history available.

XITK11 paymentsAll XITK payments⁠
One bar per payment. 11 payments from 2016 to 2023. Sep 16, 2016 $0.03; Dec 16, 2016 $1.06; Dec 15, 2017 $1.36; Dec 24, 2018 $1.24; Dec 23, 2019 $0.16; Dec 21, 2020 $0.13; Jun 21, 2022 $0.06; Sep 19, 2022 $0.05; Jun 20, 2023 $0.0071; Sep 18, 2023 $0.0094; Dec 18, 2023 $0.10. Use the arrow keys to read each point.$0$1201720202023

FRWD vs XITK Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FRWD No dataXITK 25.4%
Return per unit of riskSharpe ratio, 3 years
FRWD No dataXITK 0.63
Worst fallMax drawdown, 5 years
FRWD No dataXITK −61.4%
Market sensitivityBeta, 5 years
FRWD 2.11XITK 1.67

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