FRWD
Nomura Transformational Technologies ETF
The Nomura Transformational Technologies ETF seeks to provide investment results that correspond to the performance of companies engaged in transformational technologies that are expected to reshape industries and drive significant change globally.
Global
EQUITY
Active
MANAGEMENT STYLE
$ 246.1 M
ASSETS UNDER MGMT
65 bp
EXPENSES
Fund Basics
| Inception date | Jan 12, 2026 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 8.5 % |
| ADVANCED MICRO DEVICES | 6.8 % |
| MICROSOFT CORP | 6.8 % |
| SEAGATE TECHNOLOGY HOLDINGS PLC | 6.4 % |
| AMAZON.COM INC | 5.8 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 5.6 % |
| LAM RESEARCH CORP | 4.5 % |
| ASML HOLDING NV-NY REG SHS | 4.4 % |
| UNITY SOFTWARE, INC. | 4.1 % |
| BROADCOM INC. | 4.0 % |
Constituent Breakdown
| Number of holdings | 27 |
| Herfindahl-Hirschman Index | 462 |
| Wgt avg mkt cap (mns) | $1,301,795 |
| Large cap (>$10bn) | 94.1% |
| Mid cap ($2-10bn) | 2.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 84.9% |
| Emerging mkts. | 12.1% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 66.6 % |
 |
IRELAND | 6.4 % |
 |
TAIWAN | 5.6 % |
 |
CANADA | 4.7 % |
 |
NETHERLANDS | 4.4 % |
 |
SOUTH KOREA | 3.5 % |
 |
ARGENTINA | 3.0 % |
 |
LUXEMBOURG | 2.8 % |
Historical Performance
Standardized Performance (as of 10/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -- | -- | -- | -- | -- | -- | -- | 16.3% |
| Dividend Yield | -- | -- | -- | -- | -- | -- | -- | 0.0% |
| Total Returns | -- | -- | -- | -- | -- | -- | -- | 16.3% | Ann. Volatility | -- | -- | -- | -- | -- | -- | -- | 32.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 31 |
| ADV traded (mns) | $1 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.10% |
Technical Indicators
| 30d moving avg. (EMA) | $30.02 |
| Relative strength (RSI) | 40 |
| MACD/Signal | -1.18/-0.91 |
| Bollinger Bands (Upper/Lower) | $32.55/$26.63 |
| Short interest (% of AUM) | 0.0% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FRWD |
Expenses vs. FRWD |
ALTAR Score™ vs. FRWD |
|---|---|---|---|---|
| ALAI | Alger AI Enablers & Adopters ETF | 47.1% | +2 bp | -0.1% |
| BCTK | Baron Technology ETF | 45.3% | +28 bp | -1.3% |
| CHAT | Roundhill Generative AI & Technology ETF | 42.5% | +10 bp | +0.5% |
| NYSX | Global X NYSE 100 ETF | 42.2% | -56 bp | +1.8% |
| AOTG | AOT Growth and Innovation ETF | 41.8% | +10 bp | +0.9% |
| TTEQ | T. Rowe Price Technology ETF | 41.7% | -2 bp | +0.3% |
| CNEQ | Alger Concentrated Equity ETF | 40.7% | -9 bp | -0.2% |
| QTOP | iShares Nasdaq Top 30 Stocks ETF | 40.6% | -45 bp | +1.3% |
| AIX | Defiance US 100 Tech AI Moat ETF | 40.1% | 0 bp | 0.0% |
| QQMG | Invesco ESG NASDAQ 100 ETF | 39.6% | -45 bp | +2.0% |
Risk and Returns: FRWD vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/12/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
3.0%
ALTAR SCORE™
27th
PERCENTILE
UNDERWEIGHT
ETFRC RATING
There are 765 funds in the Global Equity category with an average
ALTAR Score™ of 4.7% and a standard deviation
of 2.6%. FRWD's ALTAR Score™ is approximately -0.6 standard
deviations above the category average. This places FRWD in the 27th percentile
among funds in the category.
Sell-Side Consensus
$38.58
PRICE TARGET
+35.3%
UPSIDE