Skip to content
etf.net

FWD vs XT

AB Disruptors ETF

FWDBNYSE Arca

iShares Future Exponential Technologies ETF

XTANasdaq

Overlap

32.7%by weight

Expense ratio

XT −0.19pt a year

FWD0.65%XT0.46%

Avg volume · 30D

FWD 3.1×the volume

FWD214KXT69.1K

3Y return · a year

FWD +10.5pt

FWD+33.6%XT+23.1%

FWD vs XT Performance

Oct 31, 2025 – Oct 30, 2026

+8.4%FWD+20.1%XT

Oct 31, 2025 to Oct 30, 2026. FWD +8.4%. XT +20.1%. Use the arrow keys to read each point.−10%0%30%Oct 2025Apr 2026Oct 2026
Expense ratio
FWD 0.65%
XT 0.46%, better
Fund size
FWD $3.28B
XT $3.98B
1Y total return
FWD +8.4%
XT +20.1%, better
Yield (12M)
FWD 0.10%
XT 6.82%, better
Holdings
FWD 130
XT 216
Avg volume (30D)
FWD 214K sh, better
XT 69.1K sh
NAV per share
FWD $118.75
XT $83.53
52W range

ETF.net Grade

FWD: Cost 53, Risk 52, Mission not scored, Tradability 65, Holdings 70, Durability 64. XT: Cost 95, Risk 91, Mission not scored, Tradability 77, Holdings 66, Durability 96.
Pillar letters and Scores for FWD, XT, with each pillar’s weight
PillarFWDXT
Cost30% weightC53A95Higher
Mission25% weightNot scoredNot scored
Risk15% weightC52A91Higher
Tradability15% weightB65A77Higher
Holdings10% weightA70HigherB66
Durability5% weightB64A96Higher

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. FWD 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 FWD 10th 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 9BFRWDNomura Transformational Technologies ETFScore 59
  4. Rank 10BFWDAB Disruptors ETFScore 58
  5. Rank 10BINVNAlger Russell Innovation ETFScore 58

Our read on each fund

ETF.net Research

FWDBAB Disruptors ETF

XTAiShares Future Exponential Technologies ETF

In short

FWD Most disruption ETFs hand the job to an index. FWD hands it to a stock-picking team with a go-anywhere mandate: any sector, any geography, roughly 120 companies AllianceBernstein believes are positioned to upend their industries.

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

FWD The fund is actively managed and seeks long-term capital growth by investing across sectors and geographies in innovative companies positioned to disrupt their industries.

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

  • FWD Actively managed and genuinely global. It can own disruptors in any sector or industry, not just the usual tech-and-biotech slice most thematic funds fish in.alliancebernstein.comgcs-web.com
  • 0.65% sits right at the median for disruptive-innovation funds, and here that fee buys live stock picking rather than an index license.alliancebernstein.com
  • About 120 holdings spreads the bet wider than the most concentrated innovation funds, so no single moonshot runs the show.
  • Launched in 2023 and now a billion-dollar-plus fund, it is among the easier names in its theme to get into and out of at tight spreads.
  • 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.govcontentstack.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

  • FWD No index to grade it against. The mandate is discretionary, so what you own rides on the manager's judgment rather than a published rulebook.alliancebernstein.com
  • Cheaper routes to the theme exist. Index-run peers KOMP (0.20%) and XT (0.46%) cover innovation for a fraction of the fee.
  • Built for growth, not income: distributions come at most once or twice a year, and disruptive names tend to swing harder than a broad global index.
  • 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.comsec.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 FWD profile⁠

Full XT profile⁠

FWD vs XT Holdings

How FWD and XT differ

Overlap by weight

32.7%

Shared holdings make up 50.4% of XT and 45.7% of FWD.

Level by level

  • Holdings40 in both32.7%
  • Sector10 Sectors71.0%
  • Countryby domicile89.6%
  • Asset classEquity100%

Sector

Sector weights in FWD and XT, widest gap first
SectorMore in FWDMore in XT
Health CareXT +17.5 points
TechnologyFWD +14.4 points
IndustrialsFWD +8.6 points
CommunicationFWD +4.1 points
UtilitiesXT +4.1 points
FinancialsXT +3.7 points
Consumer DiscretionaryXT +3.5 points
EnergyFWD +1.3 points
Real EstateFWD +0.7 points
MaterialsXT +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in FWD and XT, widest gap first
CountryMore in FWDMore in XT
United StatesFWD +3.3 points
ChinaXT +2.5 points
United KingdomXT +2.4 points
TaiwanFWD +1.8 points
CanadaFWD +1.8 points
NetherlandsFWD +1.6 points
SpainXT +1.5 points
GermanyXT +1.2 points
Other countries (7)XT +0.9 points

Outside the US: XT 74% developed, 26% emerging.

Concentration

Weight in the 10 largest Holdings

  • FWD22.0%
  • XT36.5%

Securities held

  • FWD119
  • XT193

Asset class

FWD
Equity
XT
Equity

Holdings

  • Only in FWD79
  • In both40
  • Only in XT153

Only in FWD

79 securities, 54.1% of FWD by weight

  • Lam Research Corp Common Stock USD.0011.58%
  • Asml Holding NV Ny Reg Shs Ny Reg Shrs EUR.091.56%
  • Bae Systems PLC Common Stock GBP.0251.28%

Only in XT

153 securities, 49.3% of XT by weight

  • Texas Instrument4.61%
  • Johnson & Johnson3.09%
  • AbbVie2.47%

Weight gaps

All 40 Holdings in both funds, largest gap first.

Holding weights in FWD and XT, widest gap first
HoldingMore in FWDMore in XT
Tesla Inc Common Stock USD.001TSLAXT +3.41 points
Eli Lilly & Co Common StockLLYXT +2.47 points
Analog Devices Inc Common Stock USD.167ADIXT +2.29 points
Palo Alto Networks Inc Common Stock USD.0001PANWXT +1.98 points
Space Exploration Techn Class A Common Stock USD.001SPCXFWD +1.38 points
Crowdstrike Holdings Inc A Common StockCRWDXT +1.27 points
Intuitive Surgical Inc Common Stock USD.001ISRGXT +1.10 points
Synopsys Inc Common Stock USD.01SNPSFWD +1.08 points

All 116 FWD 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.

FWD vs XT Cost

Overpaying FWD vs XT

$3,487

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

  • FWD 0.65%

    $12,717

  • XT 0.46%

    $9,230

$10,000
30 years

Cost over time

  • FWD 0.65%
  • XT 0.46%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530FWD $12,717XT $9,230

Year by year

YearFWDXTOverpaying
10$1,163$830$333
20$4,440$3,195$1,245
30$12,717$9,230$3,487

Expense ratio

  • 0.65%FWD
  • 0.46%XT, cheaper
  • Middle half of Disruptive Innovation funds
  • Median 0.65%

XT 3rd cheapest of 30 funds

FWD 12th cheapest of 30 funds

FWD vs XT Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FWD 0.10%
XT 6.82%, better
Payout (12M)
FWD $0.11
XT $5.69
Last payment
FWD $0.11
XT $0.36
Ex-dividend
FWD Dec 17, 2025
XT Jun 15, 2026
Paid on
FWD Dec 18, 2025
XT Jun 18, 2026
Frequency
FWD Twice a year
XT Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FWDTwice a year · 3 paymentsAll FWD payments⁠
One bar per payment. 3 payments from 2017 to 2026 YTD. Dec 17, 2024 $1.50; Jul 22, 2025 $0.0057; Dec 17, 2025 $0.11. Use the arrow keys to read each point.$0$52017202020232026YTD
XTTwice a year · 23 paymentsAll XT payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.24; Dec 21, 2017 $0.10; Dec 28, 2017 $0.0072; Jun 19, 2018 $0.29; Dec 18, 2018 $0.18; Dec 28, 2018 $0.02; Jun 17, 2019 $0.36; Dec 16, 2019 $0.30; Jun 15, 2020 $0.24; Dec 14, 2020 $0.19; Dec 30, 2020 $0.01; Jun 10, 2021 $0.27; Dec 13, 2021 $0.28; Jun 9, 2022 $0.22; Dec 13, 2022 $0.15; Jun 7, 2023 $0.14; Dec 20, 2023 $0.11; Jun 11, 2024 $0.16; Dec 17, 2024 $0.22; Dec 30, 2024 $0.0094; Jun 16, 2025 $0.21; Dec 16, 2025 $5.33; Jun 15, 2026 $0.36. Use the arrow keys to read each point.$0$52017202020232026YTD

FWD vs XT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FWD 25.2%XT 16.5%, better
Return per unit of riskSharpe ratio, 3 years
FWD 1.11, betterXT 1.08
Worst fallMax drawdown, 5 years
FWD −29.0%since Mar 2023XT −34.4%
Market sensitivityBeta, 5 years
FWD 1.60XT 1.35

FWD and XT in the news

All news⁠

Popular comparisons

  • FWDBvsKOMPA

    AB Disruptors ETF · State Street SPDR S&P Kensho New Economies Composite ETF

    Expense ratio
    0.65% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XTAvsKOMPA

    iShares Future Exponential Technologies ETF · State Street SPDR S&P Kensho New Economies Composite ETF

    Expense ratio
    0.46% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FWDBvsTRFMA

    AB Disruptors ETF · AAM Transformers ETF

    Expense ratio
    0.65% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XTAvsTRFMA

    iShares Future Exponential Technologies ETF · AAM Transformers ETF

    Expense ratio
    0.46% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FWDBvsXITKA

    AB Disruptors ETF · State Street SPDR FactSet Innovative Technology ETF

    Expense ratio
    0.65% · 0.45%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XTAvsXITKA

    iShares Future Exponential Technologies ETF · State Street SPDR FactSet Innovative Technology ETF

    Expense ratio
    0.46% · 0.45%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.