LRND vs USMD: Grades, Fees and Holdings Compared

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

LRNDANasdaq

CoreValues America First Technology ETF

USMDDNYSE Arca

Overlap

32.3%by weight

Expense ratio

LRND −0.73pt a year

LRND0.14%USMD0.87%

Avg volume · 30D

LRND 196.8×the volume

LRND42.7KUSMD217

LRND vs USMD Performance

Jul 31, 2026 – Oct 30, 2026

−0.4%LRND+0.3%USMD

Expense ratio: LRND 0.14%, better; USMD 0.87%
Fund size: LRND $456M; USMD $0
1Y total return: LRND +9.0%; USMD No data
Yield (12M): LRND 0.34%; USMD No data
Holdings: LRND 110; USMD 122
Avg volume (30D): LRND 42.7K sh, better; USMD 217 sh
NAV per share: LRND $44.74; USMD $29.94
52W range

ETF.net Grade

Pillar letters and Scores for LRND, USMD, with each pillar’s weight
Pillar	LRND	USMD
Cost30% weight	A100Higher	F0
Mission25% weight	B55	Not scored
Risk15% weight	B62Higher	C46
Tradability15% weight	A80Higher	C41
Holdings10% weight	F22	B56Higher
Durability5% weight	A74Higher	D28

Rank among US Thematic funds

How we build Categories ›

Same Category. LRND and USMD 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 USMD 22nd 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 21DFMKTThe Free Markets ETFScore 29
Rank 22DUSMDCoreValues America First Technology ETFScore 26

Our read on each fund

ETF.net Research

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

USMDDCoreValues America First Technology ETF

In short

LRND No data

USMD One of the newest names in US thematic tech: USMD tracks Solactive's America First Technology Index for an all-domestic technology sleeve, with long-term capital appreciation, not income, as the stated goal.

Stated mandate

LRND No data

USMD The Fund seeks long-term capital appreciation.

Why people hold it

LRND No data

USMD Rules first, hunches second: it follows a published Solactive index, so the selection logic is written down before the trades happen.
Geography is unambiguous. A US equity mandate keeps the theme home, rather than blending domestic and overseas tech under one label.
Plain-vanilla fund plumbing: a 1940 Act ETF, so you get standard 1099 reporting instead of partnership paperwork.

Worth knowing

LRND No data

USMD Fee is the headline trade-off: 0.87% a year, while thematic-tech neighbors like LRND (0.14%) and TECB (0.30%) charge a fraction of that.
It opened in 2026, so there is no multi-year record yet, and small, thinly traded funds tend to carry wider bid-ask spreads.
Growth mandate, not a paycheck: the prospectus objective is capital appreciation, and income is not part of the design.

Full LRND profile⁠

Full USMD profile⁠

LRND vs USMD Holdings

How LRND and USMD differ

Overlap by weight

32.3%

Shared holdings make up 54.2% of LRND and 43.2% of USMD.

Level by level

Holdings18 in both32.3%
Asset classEquity100%
Countryby domicile99.5%

Sector

No Sector split for USMD.

Country, concentration and asset class

Country by domicile

Country weights in LRND and USMD, widest gap first
Country	More in LRNDMore in USMD	LRND	USMD
United States	USMD +0.4 points	99.5%	99.9%
Switzerland	LRND +0.3 points	0.3%	0.0%
United Kingdom	LRND +0.1 points	0.1%	0.0%
China	Same weight	0.0%	0.0%
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%
Taiwan	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

LRND69.4%
USMD46.7%

Securities held

LRND110
USMD121

Asset class

LRND: Equity
USMD: Equity

Holdings

Only in LRND92
In both18
Only in USMD103

Only in LRND

92 securities, 45.8% of LRND by weight

Apple Inc.10.31%
Eli Lilly and Company4.93%
Meta Platforms Inc Class A4.09%
Cisco Systems, Inc.1.91%
Applied Materials, Inc.1.43%
Amgen Inc.1.41%
Lam Research Corporation1.38%
PepsiCo, Inc.1.05%
Arista Networks Inc0.98%
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%
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%
Airbnb, Inc. Class A0.39%
Garmin Ltd.0.29%
Veeva Systems Inc. Class A0.28%
Vylor Inc0.27%
Cash0.27%
Keysight Technologies Inc0.24%
Autodesk, Inc.0.24%
Everpure, Inc. Class A0.20%
Mettler-Toledo International Inc.0.19%
ResMed Inc.0.19%
Zoetis, Inc. Class A0.18%
Workday, Inc. Class A0.18%
DexCom, Inc.0.17%
SharkNinja, Inc.0.16%
Ubiquiti Inc.0.16%
Veralto Corporation0.15%
United Therapeutics Corporation0.14%
Church & Dwight Co., Inc.0.14%
Atlassian Corp Class A0.14%
Insmed Incorporated0.14%
Hershey Company0.14%

Only in USMD

103 securities, 56.7% of USMD by weight

Tesla Inc6.54%
International Business Machines Corp3.44%
Texas Instruments Inc3.32%
Palo Alto Networks Inc2.93%
Intel Corp2.72%
Micron Technology Inc2.66%
RTX Corp2.60%
GE Vernova Inc2.58%
Crowdstrike Holdings Inc2.51%
Oracle Corp2.40%
Analog Devices Inc2.37%
Bloom Energy Corp1.83%
Tempus AI Inc1.74%
Seagate Technology Holdings PLC1.51%
Lockheed Martin Corp1.49%
Boeing Co/The1.38%
Space Exploration Technologies Corp1.30%
Cloudflare Inc1.03%
Northrop Grumman Corp0.93%
Constellation Energy Corp0.88%
General Dynamics Corp0.87%
NXP Semiconductors NV0.87%
Hewlett Packard Enterprise Co0.66%
Rockwell Automation Inc0.58%
Microchip Technology Inc0.49%
Teradyne Inc0.46%
Coherent Corp0.42%
NetApp Inc0.40%
ON Semiconductor Corp0.38%
Okta Inc0.35%
ARM Holdings PLC0.28%
Zscaler Inc0.24%
Teledyne Technologies Inc0.22%
Rubrik Inc0.21%
FTAI Aviation Ltd0.19%
Textron Inc0.17%
Curtiss-Wright Corp0.16%
Lattice Semiconductor Corp0.16%
Akamai Technologies Inc0.15%
AST SpaceMobile Inc0.14%
BWX Technologies Inc0.13%
Semtech Corp0.13%
First American Government Obligations Fund 12/01/20310.13%
Albemarle Corp0.12%
Moog Inc0.12%
Skyworks Solutions Inc0.12%
TTM Technologies Inc0.11%
Sanmina Corp0.11%
HEICO Corp0.11%
Huntington Ingalls Industries Inc0.11%

Weight gaps

All 18 Holdings in both funds, largest gap first.

Holding weights in LRND and USMD, widest gap first
Holding	More in LRNDMore in USMD	LRND	USMD
NVIDIA CorporationNVDA	LRND +11.99 points	16.36%	4.37%
Alphabet Inc. Class AGOOGL	LRND +6.81 points	10.92%	4.11%
Palantir Technologies Inc. Class APLTR	USMD +4.13 points	1.96%	6.09%
Microsoft CorporationMSFT	LRND +2.50 points	8.08%	5.58%
QUALCOMM IncorporatedQCOM	USMD +1.51 points	0.80%	2.31%
Marvell Technology, Inc.MRVL	USMD +1.30 points	0.80%	2.10%
Advanced Micro Devices, Inc.AMD	USMD +1.08 points	3.81%	4.89%
Broadcom Inc.AVGO	LRND +0.68 points	4.38%	3.70%
Monolithic Power Systems, Inc.MPWR	USMD +0.53 points	0.28%	0.81%
Vertiv Holdings Co. Class AVRT	USMD +0.51 points	0.50%	1.01%
Datadog, Inc. Class ADDOG	USMD +0.43 points	0.36%	0.79%
Snowflake, Inc.SNOW	USMD +0.42 points	0.50%	0.92%
Fortinet, Inc.FTNT	USMD +0.40 points	0.46%	0.86%
Axon Enterprise IncAXON	USMD +0.24 points	0.19%	0.43%
Rocket Lab CorporationRKLB	USMD +0.22 points	0.18%	0.40%
Amazon.com, Inc.AMZN	USMD +0.10 points	4.56%	4.66%
IonQ, Inc.IONQ	USMD +0.08 points	0.06%	0.14%
SentinelOne, Inc. Class AS	USMD +0.04 points	0.04%	0.08%

All 107 LRND holdings⁠All 122 USMD 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.

LRND vs USMD Cost

Overpaying USMD vs LRND

$13,604

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

LRND 0.14%
$2,932
USMD 0.87%
$16,536

Amount$10,000

Years30 years

Cost over time

LRND 0.14%
USMD 0.87%
Overpaying

Year by year

Year	LRND	USMD	Overpaying
10	$256	$1,542	$1,286
20	$1,000	$5,830	$4,830
30	$2,932	$16,536	$13,604

Expense ratio

0.14%LRND, cheaper
0.87%USMD

LRND0.14%USMD0.87%

0.14%0.87%

Middle half of US Thematic funds
Median 0.35%

LRND cheapest of 22 funds

USMD 22nd cheapest of 22 funds

LRND vs USMD Dividends

Last 12 months to Oct 30, 2026

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

Distribution history

Per share, 2022 to 2026, same scale for both

LRNDQuarterly · 19 paymentsAll LRND payments⁠

USMDAll USMD payments⁠

No distribution history available.

LRND vs USMD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: LRND 15.9%USMD No data
Return per unit of riskSharpe ratio, 3 years: LRND 1.13USMD No data
Worst fallMax drawdown, 5 years: LRND −25.4%since Feb 2022USMD No data
Market sensitivityBeta, 5 years: LRND 1.06USMD 1.83; Market = 1

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