FWD
AB Disruptors ETF
FWD is an actively managed portfolio of high growth stocks of companies considered to lead or benefit from societal innovations. Holdings may be of any capitalization, sector, industry, and geography.
Global
EQUITY
Active
MANAGEMENT STYLE
764.3 M
ASSETS UNDER MGMT
65 bp
EXPENSES
Fund Basics
| Fund sponsor | |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 22, 2023 |
| Assets (mns) | $764 |
| Expense ratio | 65 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 5.5 % |
| BROADCOM INC. | 3.8 % |
| META PLATFORMS INC | 3.0 % |
| PALANTIR TECHNOLOGIES INC. CLASS A | 2.6 % |
| AMAZON.COM INC | 2.4 % |
| NETFLIX INC | 2.3 % |
| ROBINHOOD MARKETS, INC. CLASS A | 2.3 % |
| LAM RESEARCH CORP | 2.2 % |
| SHOPIFY, INC. CLASS A | 2.0 % |
| ALIBABA GROUP HOLDING LTD. | 2.0 % |
Constituent Breakdown
| Number of holdings | 119 |
| Herfindahl-Hirschman Index | 183 |
| Wgt avg mkt cap (mns) | $557,760 |
| Large cap (>$10bn) | 79.0% |
| Mid cap ($2-10bn) | 10.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 83.0% |
| Emerging mkts. | 4.8% |
Country Exposure
 |
UNITED STATES | 80.8 % |
 |
JAPAN | 5.6 % |
 |
GERMANY | 2.7 % |
 |
SWITZERLAND | 2.5 % |
 |
CHINA | 2.3 % |
 |
CANADA | 2.0 % |
 |
TAIWAN | 1.9 % |
 |
SINGAPORE | 1.8 % |
 |
NETHERLANDS | 1.8 % |
 |
BRITAIN | 1.6 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 27.8% | 29.2% | 37.3% | -- | -- | -- | -- | 32.5% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | -- | -- | -- | -- | 0.0% |
| Total Returns | 27.8% | 29.2% | 37.3% | -- | -- | -- | -- | 32.5% | Ann. Volatility | 30.8% | 28.8% | 25.4% | -- | -- | -- | -- | 24.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.73 | 87% |
| MSCI EAFE | 0.29 | 3% |
| MSCI Emg Mkts | -0.34 | 3% |
Liquidity Measures
| Avg. volume (000) | 129 |
| ADV traded (mns) | $14 |
| Turnover | 1.8% |
| Avg. Bid/Ask (% of price) | 0.08% |
Technical Indicators
| Recent close | $104.94 |
| 30d moving avg. | $101.13 |
| Annualized volatility | 21.6% |
| Relative strength (RSI) | 61 |
| Short interest | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| JTEK | JPMorgan U.S. Tech Leaders ETF | 41.4% | 0 bp | +1.4% |
| JGRO | JPMorgan Active Growth ETF | 36.4% | -21 bp | +3.5% |
| PWB | Invesco Large Cap Growth ETF | 35.4% | -9 bp | +2.5% |
| WTAI | WisdomTree Artificial Intelligence and Innovation Fund | 35.3% | -20 bp | +2.4% |
| CGGR | Capital Group Growth ETF | 34.9% | -26 bp | +3.2% |
| QGRW | WisdomTree U.S. Quality Growth Fund | 34.6% | -37 bp | +4.2% |
| RND | First Trust Bloomberg R&D Leaders ETF | 34.1% | -5 bp | +3.6% |
| GGUS | Marketbeta Russell 1000 Growth Equity ETF | 34.0% | -53 bp | +4.6% |
| TMAT | Main Thematic Innovation ETF | 33.8% | +99 bp | -1.5% |
| IQM | Franklin Intelligent Machines ETF | 32.9% | -15 bp | +1.9% |
Risk and Returns: FWD 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| 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 | 2024 | 2025 | 2026 | |
| 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 10/24/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
FWD
3.4%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 369 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.2%. FWD's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places FWD in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FWDSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 128 |
| Avg. Expense Ratio | 70.9 bp |
| Std. Deviation | 30.5 bp |
| FWD (65 bp) Percentile rank | 42 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FWD | 65.0 | 7.7 | 72.7 |
| Peer Avg. | 70.9 | 35.9 | 106.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .