FRWD vs. BAI
FRWD (Nomura Transformational Technologies ETF) and BAI (iShares A.I. Innovation and Tech Active ETF) are both Technology Equities funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. FRWD charges 0.65%/yr vs 0.55%/yr for BAI.
Performance
FRWD vs. BAI - Performance Comparison
Loading charts...
Returns By Period
FRWD
- 1D
- -3.81%
- 1M
- -8.81%
- 6M
- 22.79%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BAI
- 1D
- -5.04%
- 1M
- -13.70%
- 6M
- 24.25%
- YTD
- 29.55%
- 1Y
- 48.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FRWD vs. BAI - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FRWD Nomura Transformational Technologies ETF | 21.77% |
BAI iShares A.I. Innovation and Tech Active ETF | 23.93% |
Correlation
The correlation between FRWD and BAI is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026 | 0.93 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FRWD vs. BAI — Risk / Return Rank
FRWD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BAI
FRWD vs. BAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nomura Transformational Technologies ETF (FRWD) and iShares A.I. Innovation and Tech Active ETF (BAI). 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 | BAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.40 | — |
| Martin ratioReturn relative to average drawdown | — | 7.10 | — |
Loading charts...
Drawdowns
FRWD vs. BAI - Drawdown Comparison
The maximum FRWD drawdown since its inception was -18.49%, smaller than the maximum BAI drawdown of -34.09%. Use the drawdown chart below to compare losses from any high point for FRWD and BAI.
Loading charts...
Drawdown Indicators
| FRWD | BAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.49% | -34.09% | +15.60% |
Max Drawdown (1Y)Largest decline over 1 year | — | -20.45% | — |
Current DrawdownCurrent decline from peak | -11.60% | -20.45% | +8.85% |
Average DrawdownAverage peak-to-trough decline | -5.30% | -7.05% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.89% | — |
Volatility
FRWD vs. BAI - Volatility Comparison
Loading charts...
Volatility by Period
| FRWD | BAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 19.08% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 34.88% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 34.70% | 40.20% | -5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.70% | 38.58% | -3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 38.58% | -3.88% |
FRWD vs. BAI - Expense Ratio Comparison
FRWD has a 0.65% expense ratio, which is higher than BAI's 0.55% expense ratio.
Dividends
FRWD vs. BAI - Dividend Comparison
FRWD has not paid dividends to shareholders, while BAI's dividend yield for the trailing twelve months is around 1.38%.
| Position | TTM | 2025 |
|---|---|---|
BAI iShares A.I. Innovation and Tech Active ETF | 1.38% | 1.80% |
FRWD Nomura Transformational Technologies ETF | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, FRWD and BAI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, BAI is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BAI is cheaper with a 0.55% expense ratio, compared with 0.65% for FRWD.
BAI has the higher dividend yield at 1.38%, compared with 0.00% for FRWD.
They also come from different issuers: Nomura and iShares. Their fees differ too: 0.65% for FRWD and 0.55% for BAI.
Find the right allocation for FRWD and BAI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer