FRWD vs. SOXX

Last updated Jun 25, 2026

FRWD (Nomura Transformational Technologies ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - FRWD is a Technology Equities fund actively managed by Nomura, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. FRWD is actively managed, while SOXX is passively managed. Their correlation of 0.86 suggests significant overlap in exposure. FRWD charges 0.65%/yr vs 0.34%/yr for SOXX.

Performance

FRWD vs. SOXX - Performance Comparison

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

Returns By Period

FRWD

• 1D: -0.33%
• 1M: 4.81%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXX

• 1D: -0.31%
• 1M: 12.00%
• YTD: 99.95%
• 6M: 96.69%
• 1Y: 157.04%
• 3Y*: 56.02%
• 5Y*: 33.68%
• 10Y*: 36.04%

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

FRWD vs. SOXX - Yearly Performance Comparison

	2026 (YTD)
FRWD Nomura Transformational Technologies ETF	29.52%
SOXX iShares Semiconductor ETF	82.28%

Correlation

The correlation between FRWD and SOXX is 0.86, 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	0.86

Return for Risk

FRWD vs. SOXX — 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.

SOXX

SOXX Risk / Return Rank: 95
SOXX Sharpe Ratio Rank: 97
SOXX Sortino Ratio Rank: 92
SOXX Omega Ratio Rank: 93
SOXX Calmar Ratio Rank: 97
SOXX 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. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Transformational Technologies ETF (FRWD) and iShares Semiconductor ETF (SOXX). 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	SOXX	Difference
Sharpe ratio: Return per unit of total volatility	—	4.02	—
Sortino ratio: Return per unit of downside risk	—	3.99	—
Omega ratio: Gain probability vs. loss probability	—	1.57	—
Calmar ratio: Return relative to maximum drawdown	—	10.02	—
Martin ratio: Return relative to average drawdown	—	35.78	—

Drawdowns

FRWD vs. SOXX - Drawdown Comparison

The maximum FRWD drawdown since its inception was -18.49%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for FRWD and SOXX.

Drawdown Indicators

	FRWD	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-18.49%	-70.21%	+51.72%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.77%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-41.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.75%	—
Current Drawdown Current decline from peak	-5.98%	-8.17%	+2.19%
Average Drawdown Average peak-to-trough decline	-5.13%	-19.94%	+14.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.41%	—

Volatility

Volatility by Period

	FRWD	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	22.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.97%	39.43%	-5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.97%	37.20%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.97%	33.99%	-0.02%

FRWD vs. SOXX - Expense Ratio Comparison

FRWD has a 0.65% expense ratio, which is higher than SOXX's 0.34% expense ratio.

Dividends

FRWD vs. SOXX - Dividend Comparison

FRWD has not paid dividends to shareholders, while SOXX's dividend yield for the trailing twelve months is around 0.24%.

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%
SOXX iShares Semiconductor ETF	0.24%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Frequently Asked Questions

Can I hold both FRWD and SOXX in my portfolio?

FRWD and SOXX have a correlation of 0.86, 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 SOXX?

On fees, SOXX is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRWD or SOXX?

SOXX is cheaper with a 0.34% expense ratio, compared with 0.65% for FRWD.

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

SOXX has the higher dividend yield at 0.24%, compared with 0.00% for FRWD.

What is the main difference between FRWD and SOXX?

FRWD is categorized as Technology Equities, while SOXX is Semiconductors. They also come from different issuers: Nomura and iShares. Their fees differ too: 0.65% for FRWD and 0.34% for SOXX.