FWD vs. XSW ETF Comparison

Comparison of AB Disruptors ETF (FWD) to SPDR S&P Software & Services ETF (XSW)

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

$83.41

Average Daily Volume

20,038

Number of Holdings ^*

* may have additional holdings in another (foreign) market

XSW

SPDR S&P Software & Services ETF

XSW Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the computer software segment of a U.S. total market composite index. In seeking to track the performance of the S&P Software & Services Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the software and services industry group of the S&P Total Stock Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$194.47

Average Daily Volume

13,114

Number of Holdings ^*

133

* may have additional holdings in another (foreign) market

Performance

Period	FWD	XSW
30 Days	4.33%	14.14%
60 Days	7.93%	19.63%
90 Days	7.47%	21.20%
12 Months	45.49%	42.03%

18 Overlapping Holdings

Symbol	Grade	Weight in FWD	Weight in XSW	Overlap
ADBE	C	0.71%	0.6%	0.6%
BSY	F	0.48%	0.59%	0.48%
CFLT	B	0.48%	0.87%	0.48%
CRWD	B	1.11%	0.81%	0.81%
DDOG	A	0.99%	0.71%	0.71%
EPAM	B	1.14%	0.74%	0.74%
FTNT	C	1.15%	0.78%	0.78%
GTLB	B	0.53%	0.67%	0.53%
GWRE	A	0.79%	0.69%	0.69%
HUBS	A	0.65%	0.86%	0.65%
IOT	A	0.98%	0.67%	0.67%
MSFT	D	0.7%	0.59%	0.59%
NOW	A	0.55%	0.71%	0.55%
ORCL	A	1.81%	0.7%	0.7%
PLTR	B	1.33%	1.02%	1.02%
RBLX	C	0.72%	0.7%	0.7%
SNPS	B	0.72%	0.68%	0.68%
TEAM	A	0.95%	0.93%	0.93%

FWD Overweight 61 Positions Relative to XSW

Symbol	Grade	Weight
NVDA	B	5.29%
TSLA	B	3.08%
VST	A	2.35%
GEV	B	2.15%
AMZN	C	1.73%
VRT	B	1.67%
ISRG	A	1.62%
BSX	A	1.56%
NFLX	A	1.54%
ANET	C	1.53%
TXN	C	1.51%
META	D	1.41%
SHOP	B	1.39%
GOOGL	C	1.3%
AVGO	D	1.29%
HWM	A	1.21%
SPOT	B	1.16%
ETN	A	1.09%
APO	B	1.09%
COHR	B	1.06%
DASH	B	1.06%
TTD	B	1.05%
TT	A	1.05%
MRVL	B	1.02%
MU	D	1.01%
CAT	B	0.98%
ON	D	0.98%
LSCC	D	0.94%
LRCX	F	0.94%
TER	F	0.93%
ARM	F	0.91%
MDB	B	0.91%
AMAT	F	0.87%
WAB	B	0.86%
BKR	A	0.85%
SYK	B	0.81%
NEE	C	0.79%
LLY	F	0.76%
CIEN	C	0.74%
FROG	C	0.74%
MNDY	C	0.74%
ABBV	F	0.73%
AMD	F	0.7%
LITE	B	0.66%
AFRM	A	0.66%
SLAB	F	0.65%
BKNG	A	0.63%
ADI	D	0.63%
MELI	C	0.62%
TMO	F	0.58%
ILMN	C	0.56%
RDDT	A	0.53%
ABT	B	0.52%
UBER	F	0.52%
CRL	D	0.5%
ABNB	C	0.46%
IPGP	D	0.44%
IQV	F	0.43%
FCX	F	0.42%
RGEN	D	0.41%
Z	A	0.4%

FWD Underweight 115 Positions Relative to XSW

Symbol	Grade	Weight
APP	B	-1.52%
MSTR	B	-1.39%
CIFR	C	-1.29%
RIOT	C	-1.06%
NNBR	C	-1.04%
BILL	A	-1.04%
WULF	C	-1.04%
CLSK	C	-0.96%
RBRK	A	-0.88%
FRSH	B	-0.88%
DOCU	B	-0.87%
NCNO	C	-0.85%
FIVN	C	-0.85%
VERX	A	-0.84%
QTWO	A	-0.83%
PEGA	B	-0.81%
CRM	B	-0.81%
MARA	B	-0.81%
IDCC	B	-0.81%
PRO	C	-0.79%
RNG	C	-0.78%
SOUN	B	-0.78%
INTA	B	-0.77%
ZM	C	-0.76%
OLO	A	-0.76%
CWAN	B	-0.76%
WK	B	-0.76%
PCOR	B	-0.76%
BL	B	-0.75%
KD	B	-0.75%
ALKT	B	-0.75%
FICO	B	-0.75%
AGYS	A	-0.74%
ZS	B	-0.74%
NTNX	B	-0.73%
ASAN	B	-0.73%
APPN	B	-0.73%
RPD	B	-0.73%
ATEN	A	-0.73%
S	B	-0.73%
CVLT	B	-0.72%
TTWO	A	-0.72%
ESTC	C	-0.72%
QLYS	B	-0.72%
PRGS	A	-0.71%
ALTR	B	-0.71%
AI	B	-0.71%
DJCO	B	-0.71%
ADSK	A	-0.71%
PANW	B	-0.7%
DV	C	-0.7%
ACIW	B	-0.7%
GEN	B	-0.69%
PD	C	-0.68%
DBX	B	-0.68%
CDNS	B	-0.68%
VYX	B	-0.67%
BLND	A	-0.67%
EA	A	-0.67%
MITK	C	-0.67%
ZUO	B	-0.67%
PLTK	B	-0.67%
PTC	B	-0.67%
SWI	C	-0.66%
RAMP	B	-0.66%
ALRM	C	-0.66%
WDAY	B	-0.66%
INTU	B	-0.65%
ANSS	B	-0.65%
IT	C	-0.65%
PATH	C	-0.65%
MANH	D	-0.65%
DT	D	-0.64%
TENB	C	-0.64%
ACN	B	-0.64%
TYL	B	-0.64%
CTSH	B	-0.64%
SMAR	B	-0.64%
BOX	B	-0.63%
BRZE	C	-0.63%
SPT	C	-0.63%
TDC	D	-0.63%
AUR	C	-0.63%
OSPN	A	-0.63%
DXC	B	-0.63%
DLB	B	-0.62%
YEXT	B	-0.62%
ASGN	F	-0.62%
ROP	B	-0.62%
APPF	B	-0.62%
QXO	D	-0.62%
CXM	C	-0.61%
GDYN	B	-0.61%
BLKB	B	-0.61%
SEMR	C	-0.61%
INFA	D	-0.6%
HCP	B	-0.6%
ENV	B	-0.6%
VRNT	C	-0.59%
MLNK	C	-0.59%
IBM	C	-0.59%
VRNS	D	-0.59%
U	C	-0.58%
SPSC	D	-0.58%
IBUY	B	-0.55%
NABL	F	-0.53%
JAMF	F	-0.52%
YOU	D	-0.52%
WEAV	C	-0.46%
ETWO	F	-0.44%
CCSI	C	-0.4%
HCKT	B	-0.4%
ZETA	D	-0.39%
DMRC	B	-0.39%
LGTY	C	-0.26%