KOMP vs TMAT: Grades, Fees and Holdings Compared

State Street SPDR S&P Kensho New Economies Composite ETF

KOMPANYSE Arca

Main Thematic Innovation ETF

TMATDCboe

Overlap

11.4%by weight

Expense ratio

KOMP −0.59pt a year

KOMP0.20%TMAT0.79%

Avg volume · 30D

KOMP 2.7×the volume

KOMP70KTMAT26.1K

5Y return · a year

TMAT +2.4pt

KOMP+0.6%TMAT+3.0%

KOMP vs TMAT Performance

Oct 29, 2021 – Oct 30, 2026

+3.2%KOMP+16.0%TMAT

Expense ratio: KOMP 0.20%, better; TMAT 0.79%
Fund size: KOMP $2.57B; TMAT $242M
1Y total return: KOMP −1.6%, better; TMAT −4.3%
Yield (12M): KOMP 1.63%, better; TMAT 0.02%
Holdings: KOMP 501; TMAT 86
Avg volume (30D): KOMP 70K sh, better; TMAT 26.1K sh
NAV per share: KOMP $64.63; TMAT $27.29
52W range

ETF.net Grade

Pillar letters and Scores for KOMP, TMAT, with each pillar’s weight
Pillar	KOMP	TMAT
Cost30% weight	A100Higher	F5
Mission25% weight	Not scored	Not scored
Risk15% weight	B55Higher	D34
Tradability15% weight	A77Higher	B55
Holdings10% weight	A88Higher	A73
Durability5% weight	A88Higher	B59

Rank among Disruptive Innovation funds

How we build Categories ›

Same Category. KOMP and TMAT 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 ›

KOMP ranks 2nd and TMAT 28th of 30 funds in the Disruptive Innovation Category.

Rank 1AXTiShares Future Exponential Technologies ETFScore 86
Rank 2AKOMPState Street SPDR S&P Kensho New Economies Composite ETFScore 83
Rank 3ATRFMAAM Transformers ETFScore 74
Rank 26DSPRXSpear Alpha ETFScore 34
Rank 28DTMATMain Thematic Innovation ETFScore 33
Rank 29DGGRWGabelli Growth Innovators ETFScore 28

Our read on each fund

ETF.net Research

KOMPAState Street SPDR S&P Kensho New Economies Composite ETF

TMATDMain Thematic Innovation ETF

In short

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.

TMAT Most innovation ETFs pick one theme and ride it. TMAT picks the themes: an actively managed basket of theme ETFs that rotates between them, measured against a global stock benchmark rather than a single niche index.

Stated mandate

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.

TMAT The Fund seeks to outperform the MSCI ACWI Index in rising markets while limiting losses during declines. It pursues this through dynamic rotation among theme-based equity ETFs.

Why people hold it

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.com spglobal.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.

TMAT One ticker, many themes: instead of betting on robotics or genomics alone, it rotates among theme-based equity ETFs, so the manager, not you, decides which story carries the weight.
The stated job is asymmetry: aim to beat the MSCI ACWI Index in rising markets while limiting losses in declines. That is a global yardstick, not a narrow innovation index.
Actively managed with no index to hug, and it has been running since its 2021 launch through a full boom and bust in innovation stocks as a few-hundred-million-dollar fund.stockanalysis.com

Worth knowing

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.com spglobal.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

TMAT Fees run 0.79% net of a waiver through February 29, 2028 (0.82% gross), above the category median, and the theme ETFs it holds carry their own costs on top of that.
Cheaper index-based alternatives exist in the same aisle: KOMP charges 0.20% and XT 0.46%, both rules-based builds that pick one basket instead of rotating themes for you.
It trades lightly for its category, so spreads can be wider, and available disclosure does not let us verify how well the rise-more, fall-less goal has been met.

Full KOMP profile⁠

Full TMAT profile⁠

KOMP vs TMAT Holdings

How KOMP and TMAT differ

Overlap by weight

11.4%

Shared holdings make up 49.0% of TMAT and 12.9% of KOMP.

Level by level

Holdings39 in both11.4%
Sector10 Sectors78.4%
Countryby domicile90.8%
Asset classEquity100%

Sector

Sector weights in KOMP and TMAT, widest gap first
Sector	More in KOMPMore in TMAT	KOMP	TMAT
Technology	TMAT +16.7 points	39.5%	56.2%
Consumer Discretionary	KOMP +5.4 points	5.5%	0.1%
Materials	TMAT +4.9 points	3.1%	8.0%
Communication	KOMP +4.6 points	4.6%	0.0%
Financials	KOMP +4.0 points	4.2%	0.2%
Industrials	KOMP +2.5 points	22.9%	20.4%
Health Care	KOMP +2.2 points	15.2%	13.0%
Energy	KOMP +1.3 points	1.5%	0.2%
Utilities	KOMP +1.0 points	3.0%	2.0%
Consumer Staples	KOMP +0.6 points	0.6%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in KOMP and TMAT, widest gap first
Country	More in KOMPMore in TMAT	KOMP	TMAT
United States	TMAT +5.3 points	87.2%	92.5%
Canada	TMAT +3.5 points	1.7%	5.2%
China	KOMP +3.5 points	3.5%	0.0%
Israel	KOMP +1.9 points	2.5%	0.6%
Brazil	KOMP +0.8 points	0.8%	0.0%
South Korea	KOMP +0.6 points	0.6%	0.0%
Japan	KOMP +0.5 points	0.5%	0.0%
United Kingdom	KOMP +0.5 points	0.5%	0.0%
Other countries (11)	KOMP +1.0 points	2.7%	1.7%

Concentration

Weight in the 10 largest Holdings

KOMP11.1%
TMAT29.4%

Securities held

KOMP498
TMAT86

Asset class

KOMP: Equity
TMAT: Equity

Holdings

Only in KOMP459
In both39
Only in TMAT47

Only in KOMP

459 securities, 87.0% of KOMP by weight

Ptc Inc1.40%
3D Systems Corp1.18%
Bruker Corp1.12%
Unity Software Inc0.97%
Himax Technologies Inc Adr0.90%
Ambarella Inc0.88%
Tesla Inc0.81%
NVIDIA Corp0.80%
Ouster Inc0.77%
Meta Platforms Inc Class A0.71%
Stratasys Ltd0.70%
Teledyne Technologies Inc0.68%
Snap Inc A0.67%
Kopin Corp0.65%
Leidos Holdings Inc0.64%
Parsons Corp0.61%
Emerson Electric Co0.53%
Redwire Corp0.52%
Kla Corp0.52%
Vuzix Corp0.51%
Danaher Corp0.51%
Proto Labs Inc0.51%
Northrop Grumman Corp0.51%
Atlassian Corp Class A0.50%
Alarm.com Holdings Inc0.50%
Adt Inc0.50%
Hp Inc0.49%
Thermo Fisher Scientific Inc0.49%
On Semiconductor0.48%
Iridium Communications Inc0.47%
Lockheed Martin Corp0.47%
Unusual Machines Inc /Us0.47%
Cabot Corp0.46%
Cognex Corp0.46%
Ameresco Inc Class A0.45%
Oceaneering Intl Inc0.45%
Heico Corp0.45%
Nve Corp0.44%
Zebra Technologies Corp Class A0.43%
Viasat Inc0.42%
Novanta Inc0.42%
Forum Energy Technologies In0.40%
Moderna Inc0.40%
Ceva Inc0.39%
Arlo Technologies Inc0.39%
Transalta Corp0.38%
Ringcentral Inc Class A0.38%
Charles River Laboratories0.38%
Johnson Controls Internation0.38%
Shoals Technologies Group A0.37%

Only in TMAT

47 securities, 51.1% of TMAT by weight

Lumentum Hol2.46%
Adv Micro Device2.21%
Bentley System-B2.20%
Clear Secure I-A2.05%
Vicor Corp2.03%
Keysight Tec1.90%
Veracyte Inc1.78%
Haemonetics Corp1.57%
Ero Copper Corp1.53%
Hudbay Minerals Inc1.53%
Guardant Health1.38%
Veeva Systems-A1.37%
Element Solution1.36%
Adaptive Biotech1.35%
Aaon Inc1.31%
Vertiv Holding-A1.28%
Itt Inc1.24%
Marvell Technolo1.22%
Azz Inc1.18%
Seagate Technolo1.17%
Vistra Corp1.16%
Woodward Inc1.12%
Steel Dynamics1.10%
Adv Energy Inds1.06%
Taiwan Semic-Adr1.04%
Rbc Bearings Inc1.02%
Materion Corp0.98%
Ciena Corp0.94%
Western Digital0.93%
Myr Group Inc/De0.93%
Qnity Electronic0.90%
Viavi Solutions0.89%
Onto Innovation0.88%
Crane Co0.79%
Kadant Inc0.78%
Century Aluminum0.68%
Csw Industri Inc0.52%
Curtiss-Wright0.52%
Fabrinet0.48%
Waystar Holding0.46%
Almonty Industri0.40%
Usa Rare Earth I0.37%
Parker Hannifin0.33%
Space Explorat-A0.27%
Ss-Ins Tr Mm-Prm0.23%
Energy Fuels Inc0.16%
Us Dollars<0.01%

Weight gaps

All 39 Holdings in both funds, largest gap first.

Holding weights in KOMP and TMAT, widest gap first
Holding	More in KOMPMore in TMAT	KOMP	TMAT
Palo Alto Networks IncPANW	TMAT +4.75 points	0.24%	4.99%
Micron Technology IncMU	TMAT +4.15 points	0.46%	4.61%
Hinge Health Inc AHNGE	TMAT +3.05 points	0.20%	3.25%
Rubrik Inc ARBRK	TMAT +2.95 points	0.28%	3.23%
Fortinet IncFTNT	TMAT +2.07 points	0.17%	2.24%
Varonis Systems IncVRNS	TMAT +1.98 points	0.20%	2.18%
Cloudflare Inc Class ANET	TMAT +1.70 points	0.15%	1.85%
Blackberry LtdBB	TMAT +1.37 points	0.17%	1.54%
Autodesk IncADSK	TMAT +1.29 points	0.45%	1.74%
Gen Digital IncGEN	TMAT +1.16 points	0.16%	1.32%
F5 IncFFIV	TMAT +1.13 points	0.11%	1.24%
Ge Vernova IncGEV	TMAT +1.07 points	0.19%	1.26%
Teradyne IncTER	TMAT +1.06 points	0.15%	1.21%
Analog Devices IncADI	TMAT +0.89 points	0.18%	1.07%
Modine Manufacturing CoMOD	TMAT +0.75 points	0.06%	0.81%
Generac Holdings IncGNRC	TMAT +0.74 points	0.49%	1.23%
Bwx Technologies IncBWXT	TMAT +0.66 points	0.11%	0.77%
Zscaler IncZS	TMAT +0.60 points	0.22%	0.82%
Axon Enterprise IncAXON	TMAT +0.59 points	0.35%	0.94%
Garmin LtdGRMN	TMAT +0.59 points	0.11%	0.70%
Rockwell Automation IncROK	TMAT +0.57 points	0.55%	1.12%
Dexcom IncDXCM	TMAT +0.54 points	0.12%	0.66%
Agilent Technologies IncA	TMAT +0.53 points	0.17%	0.70%
Constellation EnergyCEG	TMAT +0.53 points	0.39%	0.92%
Elbit Systems LtdESLT	KOMP +0.53 points	1.10%	0.57%
Firefly Aerospace IncFLY	TMAT +0.50 points	0.19%	0.69%
Ipg Photonics CorpIPGP	TMAT +0.48 points	0.29%	0.77%
Trimble IncTRMB	TMAT +0.47 points	0.36%	0.83%
Mettler Toledo InternationalMTD	TMAT +0.44 points	0.17%	0.61%
Aerovironment IncAVAV	KOMP +0.44 points	0.81%	0.37%
Twist Bioscience CorpTWST	KOMP +0.39 points	1.90%	1.51%
Voyager Technologies Inc AVOYG	TMAT +0.34 points	0.29%	0.63%
Ondas IncONDS	TMAT +0.25 points	0.48%	0.73%
Karman Holdings IncKRMN	TMAT +0.22 points	0.19%	0.41%
Huntington Ingalls IndustrieHII	TMAT +0.20 points	0.15%	0.35%
Intuitive Surgical IncISRG	KOMP +0.18 points	0.49%	0.31%
General Dynamics CorpGD	TMAT +0.07 points	0.34%	0.41%
Gentherm IncTHRM	KOMP +0.02 points	0.11%	0.09%
Kratos Defense & SecurityKTOS	TMAT +0.03 points	0.35%	0.38%

All 499 KOMP holdings⁠All TMAT 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.

KOMP vs TMAT Cost

Overpaying TMAT vs KOMP

$11,019

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

KOMP 0.20%
$4,155
TMAT 0.79%
$15,174

Amount$10,000

Years30 years

Cost over time

KOMP 0.20%
TMAT 0.79%
Overpaying

Year by year

Year	KOMP	TMAT	Overpaying
10	$365	$1,405	$1,040
20	$1,421	$5,331	$3,910
30	$4,155	$15,174	$11,019

Expense ratio

0.20%KOMP, cheaper
0.79%TMAT

KOMP0.20%TMAT0.79%

0.20%0.90%

Middle half of Disruptive Innovation funds
Median 0.65%

KOMP cheapest of 30 funds

TMAT 28th cheapest of 30 funds

KOMP vs TMAT Dividends

Last 12 months to Oct 30, 2026

Yield (12M): KOMP 1.63%, better; TMAT 0.02%
Payout (12M): KOMP $1.02; TMAT $0.005
Last payment: KOMP $0.13; TMAT $0.005
Ex-dividend: KOMP Sep 21, 2026; TMAT Dec 23, 2025
Paid on: KOMP Sep 23, 2026; TMAT Dec 29, 2025
Frequency: KOMP Quarterly; TMAT Irregular

Distribution history

Per share, 2018 to 2026, same scale for both

KOMPQuarterly · 33 paymentsAll KOMP payments⁠

TMATIrregular · 5 paymentsAll TMAT payments⁠

KOMP vs TMAT Risk

Fall from peak · 5 years

KOMP
TMAT

Risk facts

VolatilityStd dev, 3 years: KOMP 22.3%, betterTMAT 28.3%
Return per unit of riskSharpe ratio, 3 years: KOMP 0.76TMAT 0.88, better
Worst fallMax drawdown, 5 years: KOMP −45.4%, betterTMAT −51.9%
Market sensitivityBeta, 5 years: KOMP 1.65TMAT 1.83; Market = 1

KOMP and TMAT in the news

All news⁠

New ETFs
Tuttle's GANZ looks for a theme's suppliers, but its own rule gives them the smaller share
Oct 27, 2026KOMP
Deep Dive
Disruptive innovation ETFs share a label, not a portfolio
Sep 11, 2026KOMP

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KOMP vs TMAT

In short

Stated mandate

Why people hold it

Worth knowing

How KOMP and TMAT differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in KOMP

Only in TMAT

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Tuttle's GANZ looks for a theme's suppliers, but its own rule gives them the smaller share

Disruptive innovation ETFs share a label, not a portfolio

How KOMP and TMAT differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in KOMP

Only in TMAT

Weight gaps