FRWD vs. KNCT

Last updated Jun 5, 2026

FRWD (Nomura Transformational Technologies ETF) and KNCT (Invesco Next Gen Connectivity ETF) are both Technology Equities funds. FRWD is actively managed, while KNCT is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. FRWD charges 0.65%/yr vs 0.40%/yr for KNCT.

Performance

FRWD vs. KNCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Transformational Technologies ETF (FRWD) and Invesco Next Gen Connectivity ETF (KNCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRWD

• 1D: -1.05%
• 1M: 15.16%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KNCT

• 1D: -3.05%
• 1M: 18.64%
• YTD: 58.43%
• 6M: 58.28%
• 1Y: 92.28%
• 3Y*: 42.20%
• 5Y*: 20.98%
• 10Y*: 20.97%

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

FRWD vs. KNCT - Yearly Performance Comparison

	2026 (YTD)
FRWD Nomura Transformational Technologies ETF	33.73%
KNCT Invesco Next Gen Connectivity ETF	52.67%

Correlation

The correlation between FRWD and KNCT is 0.90, 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 14, 2026	0.90

Return for Risk

FRWD vs. KNCT — Risk / Return Rank

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

KNCT

KNCT Risk / Return Rank: 96
KNCT Sharpe Ratio Rank: 96
KNCT Sortino Ratio Rank: 95
KNCT Omega Ratio Rank: 94
KNCT Calmar Ratio Rank: 96
KNCT Martin Ratio Rank: 97

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. KNCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Transformational Technologies ETF (FRWD) and Invesco Next Gen Connectivity ETF (KNCT). 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.

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

Sharpe Ratios by Period

	FRWD	KNCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.31	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.74	0.57	+3.17

Drawdowns

FRWD vs. KNCT - Drawdown Comparison

The maximum FRWD drawdown since its inception was -18.49%, smaller than the maximum KNCT drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for FRWD and KNCT.

Drawdown Indicators

	FRWD	KNCT	Difference
Max Drawdown Largest peak-to-trough decline	-18.49%	-57.18%	+38.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.55%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.55%	—
Current Drawdown Current decline from peak	-1.60%	-3.67%	+2.07%
Average Drawdown Average peak-to-trough decline	-5.24%	-10.74%	+5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.28%	—

Volatility

Volatility by Period

	FRWD	KNCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.89%	21.53%	+8.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.89%	23.22%	+6.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.89%	22.98%	+6.91%

FRWD vs. KNCT - Expense Ratio Comparison

FRWD has a 0.65% expense ratio, which is higher than KNCT's 0.40% expense ratio.

Dividends

FRWD vs. KNCT - Dividend Comparison

FRWD has not paid dividends to shareholders, while KNCT's dividend yield for the trailing twelve months is around 0.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
KNCT Invesco Next Gen Connectivity ETF	0.59%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%

Frequently Asked Questions

Can I hold both FRWD and KNCT in my portfolio?

With a correlation of 0.90, FRWD and KNCT 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.

Which ETF is better, FRWD or KNCT?

On fees, KNCT is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRWD or KNCT?

KNCT is cheaper with a 0.40% expense ratio, compared with 0.65% for FRWD.

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

KNCT has the higher dividend yield at 0.59%, compared with 0.00% for FRWD.

What is the main difference between FRWD and KNCT?

They also come from different issuers: Nomura and Invesco. Their fees differ too: 0.65% for FRWD and 0.40% for KNCT.