FRWD vs. FTEC
FRWD (Nomura Transformational Technologies ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both Technology Equities funds. FRWD is actively managed, while FTEC is passively managed. Their correlation of 0.93 means they have usually moved in the same direction. FRWD charges 0.65%/yr vs 0.08%/yr for FTEC.
Performance
FRWD vs. FTEC - Performance Comparison
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Returns By Period
FRWD
- 1D
- 0.55%
- 1M
- -2.47%
- 6M
- 22.12%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FTEC
- 1D
- -0.35%
- 1M
- -1.38%
- 6M
- 21.39%
- YTD
- 20.47%
- 1Y
- 35.19%
- 3Y*
- 26.88%
- 5Y*
- 18.05%
- 10Y*
- 23.84%
- ALL TIME*
- 21.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.86M | $2.54M | $3.97M | |
| $82.97M | $78.72M | $94.67M |
FRWD vs. FTEC - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FRWD Nomura Transformational Technologies ETF | 23.43% |
FTEC Fidelity MSCI Information Technology Index ETF | 18.58% |
Correlation
The correlation between FRWD and FTEC is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026 | 0.93 |
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Return for Risk
FRWD vs. FTEC — Risk / Return Rank
FRWD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FTEC
FRWD vs. FTEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nomura Transformational Technologies ETF (FRWD) and Fidelity MSCI Information Technology Index ETF (FTEC). 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 | FTEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.97 | — |
| Martin ratioReturn relative to average drawdown | — | 5.31 | — |
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Drawdowns
FRWD vs. FTEC - Drawdown Comparison
The maximum FRWD drawdown since its inception was -18.49%, smaller than the maximum FTEC drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for FRWD and FTEC.
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Drawdown Indicators
| FRWD | FTEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.49% | -34.95% | +16.46% |
Max Drawdown (1Y)Largest decline over 1 year | — | -16.26% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.30% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.95% | — |
Current DrawdownCurrent decline from peak | -10.40% | -10.03% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -5.80% | -5.59% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.02% | — |
Volatility
FRWD vs. FTEC - Volatility Comparison
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Volatility by Period
| FRWD | FTEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.49% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.19% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 35.20% | 24.35% | +10.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.20% | 25.87% | +9.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.20% | 24.98% | +10.22% |
FRWD vs. FTEC - Expense Ratio Comparison
FRWD has a 0.65% expense ratio, which is higher than FTEC's 0.08% expense ratio.
Dividends
FRWD vs. FTEC - Dividend Comparison
FRWD has not paid dividends to shareholders, while FTEC's dividend yield for the trailing twelve months is around 0.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRWD Nomura Transformational Technologies ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FTEC Fidelity MSCI Information Technology Index ETF | 0.37% | 0.43% | 0.49% | 0.77% | 0.93% | 0.63% | 0.83% | 1.03% | 1.20% | 0.96% | 1.25% | 1.27% |
Frequently Asked Questions
With a correlation of 0.93, FRWD and FTEC 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, FTEC is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTEC is cheaper with a 0.08% expense ratio, compared with 0.65% for FRWD.
FTEC has the higher dividend yield at 0.37%, compared with 0.00% for FRWD.
They also come from different issuers: Nomura and Fidelity. Their fees differ too: 0.65% for FRWD and 0.08% for FTEC.
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