FRWD vs. ASMH

Last updated Jul 17, 2026

FRWD (Nomura Transformational Technologies ETF) and ASMH (ASML Holding NV ADR Hedged ETF) are both Technology Equities funds. FRWD is actively managed, while ASMH is passively managed. A 0.75 correlation means they provide meaningful diversification when combined. FRWD charges 0.65%/yr vs 0.19%/yr for ASMH.

Performance

FRWD vs. ASMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Transformational Technologies ETF (FRWD) and ASML Holding NV ADR Hedged ETF (ASMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRWD

• 1D: -3.81%
• 1M: -8.81%
• 6M: 22.79%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASMH

• 1D: -2.11%
• 1M: 0.25%
• 6M: 36.58%
• YTD: 71.44%
• 1Y: 143.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FRWD vs. ASMH - Yearly Performance Comparison

	2026 (YTD)
FRWD Nomura Transformational Technologies ETF	21.77%
ASMH ASML Holding NV ADR Hedged ETF	42.54%

Correlation

The correlation between FRWD and ASMH is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.75

Return for Risk

FRWD vs. ASMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FRWD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ASMH

ASMH Risk / Return Rank: 95
ASMH Sharpe Ratio Rank: 97
ASMH Sortino Ratio Rank: 93
ASMH Omega Ratio Rank: 89
ASMH Calmar Ratio Rank: 98
ASMH Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FRWD vs. ASMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Transformational Technologies ETF (FRWD) and ASML Holding NV ADR Hedged ETF (ASMH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FRWD	ASMH	Difference
Sharpe ratio: Return per unit of total volatility	—	3.37	—
Sortino ratio: Return per unit of downside risk	—	3.73	—
Omega ratio: Gain probability vs. loss probability	—	1.45	—
Calmar ratio: Return relative to maximum drawdown	—	9.79	—
Martin ratio: Return relative to average drawdown	—	28.17	—

Drawdowns

FRWD vs. ASMH - Drawdown Comparison

The maximum FRWD drawdown since its inception was -18.49%, which is greater than ASMH's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for FRWD and ASMH.

Drawdown Indicators

	FRWD	ASMH	Difference
Max Drawdown Largest peak-to-trough decline	-18.49%	-15.89%	-2.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.75%	—
Current Drawdown Current decline from peak	-11.60%	-10.51%	-1.09%
Average Drawdown Average peak-to-trough decline	-5.30%	-4.41%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.17%	—

Volatility

Volatility by Period

	FRWD	ASMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.11%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.70%	43.78%	-9.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.70%	41.26%	-6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.70%	41.26%	-6.56%

FRWD vs. ASMH - Expense Ratio Comparison

FRWD has a 0.65% expense ratio, which is higher than ASMH's 0.19% expense ratio.

Dividends

FRWD vs. ASMH - Dividend Comparison

FRWD has not paid dividends to shareholders, while ASMH's dividend yield for the trailing twelve months is around 1.63%.

Position	TTM	2025
ASMH ASML Holding NV ADR Hedged ETF	1.63%	0.19%
FRWD Nomura Transformational Technologies ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both FRWD and ASMH in my portfolio?

FRWD and ASMH have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRWD or ASMH?

On fees, ASMH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRWD or ASMH?

ASMH is cheaper with a 0.19% expense ratio, compared with 0.65% for FRWD.

Which ETF pays a higher dividend yield, FRWD or ASMH?

ASMH has the higher dividend yield at 1.63%, compared with 0.00% for FRWD.

What is the main difference between FRWD and ASMH?

They also come from different issuers: Nomura and Precidian Funds. Their fees differ too: 0.65% for FRWD and 0.19% for ASMH.