INVN vs KOMP

INVNBAlger Russell Innovation ETF

KOMPAState Street SPDR S&P Kensho New Economies Composite ETF

In short

INVN Most innovation funds buy the story. INVN buys the R&D line: it ranks Russell 1000 companies by research spending against enterprise value, screens for profitability first, then equal-weights the top 50 and re-sorts every quarter.

KOMP Most thematic funds bet on one idea. KOMP buys the whole Fourth Industrial Revolution: 20-plus Kensho subsectors, from robotics to genetic engineering, spread across roughly 500 global stocks for 0.20% a year.

Stated mandate

INVN The fund seeks to track, before fees and expenses, the performance of the Alger Russell Innovation Index.

KOMP The Fund seeks investment results that generally correspond, before fees and expenses, to the total return performance of the S&P Kensho New Economies Composite Index.

Why people hold it

• INVN Innovation defined by an accounting line rather than a narrative: the index picks the 50 Russell 1000 names with the highest research spending relative to enterprise value, plus other factors.prnewswire.com
• A profitability screen runs before the innovation ranking, so the basket leans toward companies funding their R&D out of a real business.
• Equal weighting at each quarterly review gives the 50th name roughly the same say as the first, so no mega-cap sits on the portfolio.prnewswire.com
• At 0.55%, the fee sits below the typical fund in its disruptive-innovation peer group.

• KOMP 0.20% a year, under a third of the typical disruptive-innovation fund's fee and below peers like XT (0.46%) and TRFM (0.49%).
• Kensho's language-processing engine scans regulatory filings for context and keywords, so membership rests on what a company discloses it does, not an old sector label.ssga.comspglobal.com
• About 500 global names across 20-plus subsectors, equal weighted within each group with extra weight to 'core' operators. One mega-cap can't run the show.spglobal.com
• Trading since 2018 and now a multi-billion-dollar fund, it sits among the strongest implementations in the disruptive-innovation group.

Worth knowing

• INVN That 0.55% is a capped rate. Gross fund expenses run higher and the waiver is contractual with an end date, so the current prospectus is the place to check it.sec.gov
• Cheaper ways to own the theme exist: KOMP charges 0.20% and XT 0.46%.
• It launched in January 2025, so the track record is short, and a 50-stock book rebuilt every quarter concentrates risk and shuffles holdings more than a broad index fund.prnewswire.com

• KOMP Equal weighting reaches down into smaller, earlier-stage innovators, so swings run wider than a plain broad-market index fund.spglobal.com
• Subsector weights follow a risk-adjusted-return formula with annual reconstitution, so the mix drifts toward industries that have recently performed well.ssga.comspglobal.com
• Breadth cuts both ways: a pure play on one theme like AI or space gets diluted here across the entire innovation map.spglobal.com

Full INVN profile⁠

Full KOMP profile⁠