FWD vs. IETC ETF Comparison

Comparison of AB Disruptors ETF (FWD) to iShares Evolved U.S. Technology ETF (IETC)

FWD

AB Disruptors ETF

FWD Description

FWD seeks capital growth by actively investing in companies globally, believed to be at the forefront of innovative growth trends. The funds adviser considers such companies as market disrupters. Many may utilize technology to enhance or create new demand for their product or service. The selection process combines a top-down evaluation of macroeconomic growth trends with fundamental, bottom-up analysis of individual companies. Factors such as current and projected profitability, pricing power, competitiveness, technological superiority, and management robustness of a company are considered. Targeted themes may include cloud infrastructure & AI, energy transition, transportation & logistics, medical innovation, digital transactions & media, and industrial innovation. The resulting portfolio of 80-120 stocks is considered non-diversified and may heavily focus on industries within the Information Technology sector.

Grade (RS Rating)

Last Trade

$83.95

Average Daily Volume

20,955

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IETC

iShares Evolved U.S. Technology ETF

IETC Description

The investment seeks to provide access to U.S. companies with technology exposure, as classified using a proprietary classification system. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in U.S. listed common stock of large-, mid- and small-capitalization technology companies. It will hold common stock of those companies that fall into the Technology Evolved Sector which have economic characteristics that have been historically correlated with companies traditionally defined as technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$82.22

Average Daily Volume

19,325

Number of Holdings ^*

117

* may have additional holdings in another (foreign) market

Performance

Period	FWD	IETC
30 Days	6.41%	3.17%
60 Days	8.28%	5.58%
90 Days	8.11%	8.32%
12 Months	46.37%	39.98%

32 Overlapping Holdings

Symbol	Grade	Weight in FWD	Weight in IETC	Overlap
ABNB	C	0.46%	0.66%	0.46%
ADBE	C	0.71%	1.15%	0.71%
AMD	F	0.7%	0.7%	0.7%
AMZN	C	1.73%	7.6%	1.73%
ANET	C	1.53%	0.62%	0.62%
AVGO	D	1.29%	11.53%	1.29%
BSY	D	0.48%	0.17%	0.17%
CFLT	B	0.48%	0.1%	0.1%
CRWD	B	1.11%	0.35%	0.35%
DASH	A	1.06%	0.21%	0.21%
DDOG	A	0.99%	0.18%	0.18%
FTNT	C	1.15%	1.26%	1.15%
GOOGL	C	1.3%	2.26%	1.3%
HUBS	A	0.65%	0.15%	0.15%
ILMN	D	0.56%	0.05%	0.05%
IQV	D	0.43%	0.13%	0.13%
LRCX	F	0.94%	0.16%	0.16%
META	D	1.41%	1.77%	1.41%
MSFT	F	0.7%	7.52%	0.7%
MU	D	1.01%	0.41%	0.41%
NOW	A	0.55%	2.14%	0.55%
NVDA	C	5.29%	8.86%	5.29%
ORCL	B	1.81%	3.64%	1.81%
PLTR	B	1.33%	0.61%	0.61%
SLAB	D	0.65%	0.06%	0.06%
SNPS	B	0.72%	0.2%	0.2%
TEAM	A	0.95%	0.86%	0.86%
TER	D	0.93%	0.1%	0.1%
TTD	B	1.05%	0.64%	0.64%
TXN	C	1.51%	0.29%	0.29%
UBER	D	0.52%	0.23%	0.23%
VRT	B	1.67%	0.11%	0.11%

FWD Overweight 47 Positions Relative to IETC

Symbol	Grade	Weight
TSLA	B	3.08%
VST	B	2.35%
GEV	B	2.15%
ISRG	A	1.62%
BSX	B	1.56%
NFLX	A	1.54%
SHOP	B	1.39%
HWM	A	1.21%
SPOT	B	1.16%
EPAM	C	1.14%
ETN	A	1.09%
APO	B	1.09%
COHR	B	1.06%
TT	A	1.05%
MRVL	B	1.02%
CAT	B	0.98%
ON	D	0.98%
IOT	A	0.98%
LSCC	D	0.94%
ARM	D	0.91%
MDB	C	0.91%
AMAT	F	0.87%
WAB	B	0.86%
BKR	B	0.85%
SYK	C	0.81%
NEE	D	0.79%
GWRE	A	0.79%
LLY	F	0.76%
CIEN	B	0.74%
FROG	C	0.74%
MNDY	C	0.74%
ABBV	D	0.73%
RBLX	C	0.72%
LITE	B	0.66%
AFRM	B	0.66%
BKNG	A	0.63%
ADI	D	0.63%
MELI	D	0.62%
TMO	F	0.58%
GTLB	B	0.53%
RDDT	B	0.53%
ABT	B	0.52%
CRL	C	0.5%
IPGP	D	0.44%
FCX	D	0.42%
RGEN	D	0.41%
Z	A	0.4%

FWD Underweight 85 Positions Relative to IETC

Symbol	Grade	Weight
ACN	C	-4.27%
CRM	B	-3.91%
AAPL	C	-2.45%
MSI	B	-2.42%
IBM	C	-2.06%
VRSN	F	-2.01%
CDNS	B	-1.88%
CSCO	B	-1.85%
ICE	C	-1.64%
GOOG	C	-1.39%
QCOM	F	-1.29%
MANH	D	-1.25%
GPN	B	-1.14%
PH	A	-1.01%
MA	C	-0.94%
NTAP	C	-0.84%
PANW	C	-0.83%
EQIX	A	-0.77%
ADSK	A	-0.74%
SSNC	B	-0.73%
WDAY	B	-0.69%
VRSK	A	-0.64%
IT	C	-0.61%
TYL	B	-0.61%
ZM	B	-0.59%
CDW	F	-0.57%
MPWR	F	-0.52%
ANSS	B	-0.41%
LMT	D	-0.41%
CSGP	D	-0.39%
MCO	B	-0.35%
KLAC	D	-0.34%
MSTR	C	-0.34%
G	B	-0.33%
COIN	C	-0.3%
FDS	B	-0.3%
SQ	B	-0.22%
TTEK	F	-0.21%
BAH	F	-0.2%
KEYS	A	-0.2%
MMC	B	-0.19%
QLYS	C	-0.18%
TRU	D	-0.17%
AKAM	D	-0.15%
CACI	D	-0.15%
SWKS	F	-0.14%
PINS	D	-0.14%
EA	A	-0.13%
MSCI	C	-0.12%
IRM	D	-0.1%
SLB	C	-0.1%
IPG	D	-0.1%
VEEV	C	-0.1%
NDAQ	A	-0.09%
NSIT	F	-0.09%
QRVO	F	-0.07%
INTU	C	-0.07%
LPLA	A	-0.07%
ADP	B	-0.07%
SNAP	C	-0.07%
ROK	B	-0.07%
CPNG	D	-0.06%
TDY	B	-0.06%
CPAY	A	-0.06%
JNPR	F	-0.06%
BBY	D	-0.06%
DELL	C	-0.06%
CBOE	B	-0.06%
FBIN	D	-0.06%
DXC	B	-0.05%
BILL	A	-0.05%
DOCN	D	-0.05%
SAIC	F	-0.05%
GLW	B	-0.04%
APPN	B	-0.04%
CL	D	-0.04%
MMS	F	-0.04%
GDDY	A	-0.02%
ZI	D	-0.02%
ENPH	F	-0.02%
XYL	D	-0.02%
RIVN	F	-0.01%
ALGN	D	-0.0%
GRAL	C	-0.0%
FTV	C	-0.0%

IETC: Top Represented Industries & Keywords

Industries: Software - Application Business Services Semiconductors Information Technology Services Software - Infrastructure Internet Content & Information Capital Markets Semiconductor Equipment & Materials Communication Equipment Diagnostics & Research Diversified Industrials Financial Data & Stock Exchanges Scientific & Technical Instruments Computer Systems Internet Content & Information Specialty Retail Advertising Agencies Aerospace & Defense Auto Manufacturers Conglomerates