FWRD vs. FWD

Last updated Jun 4, 2026

FWRD (Forward Air Corporation) is a stock, while FWD (AB Disruptors ETF) is Global Equities fund actively managed by AllianceBernstein. Over the past 3 years, FWRD returned -54.22%/yr vs 39.48%/yr for FWD. At a 0.26 correlation, their price movements are largely independent.

Performance

FWRD vs. FWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Forward Air Corporation (FWRD) and AB Disruptors ETF (FWD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FWRD achieves a -61.32% return, which is significantly lower than FWD's 40.11% return.

FWRD

• 1D: -5.20%
• 1M: -40.38%
• YTD: -61.32%
• 6M: -61.63%
• 1Y: -46.25%
• 3Y*: -54.22%
• 5Y*: -36.25%
• 10Y*: -13.56%

FWD

• 1D: -0.27%
• 1M: 14.15%
• YTD: 40.11%
• 6M: 39.78%
• 1Y: 75.95%
• 3Y*: 39.48%
• 5Y*: —
• 10Y*: —

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

FWRD vs. FWD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FWRD Forward Air Corporation	-61.32%	-22.48%	-48.70%	-38.27%
FWD AB Disruptors ETF	40.11%	32.00%	29.23%	25.66%

Correlation

The correlation between FWRD and FWD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Mar 23, 2023	0.26

Return for Risk

FWRD vs. FWD — Risk / Return Rank

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

FWRD

FWRD Risk / Return Rank: 16
FWRD Sharpe Ratio Rank: 16
FWRD Sortino Ratio Rank: 21
FWRD Omega Ratio Rank: 19
FWRD Calmar Ratio Rank: 19
FWRD Martin Ratio Rank: 6

FWD

FWD Risk / Return Rank: 87
FWD Sharpe Ratio Rank: 90
FWD Sortino Ratio Rank: 83
FWD Omega Ratio Rank: 83
FWD Calmar Ratio Rank: 91
FWD Martin Ratio Rank: 90

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.

FWRD vs. FWD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Forward Air Corporation (FWRD) and AB Disruptors ETF (FWD). 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.

	FWRD	FWD	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	3.16	-3.74
Sortino ratio: Return per unit of downside risk	-0.40	3.78	-4.18
Omega ratio: Gain probability vs. loss probability	0.93	1.50	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.62	5.86	-6.49
Martin ratio: Return relative to average drawdown	-1.47	20.83	-22.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FWRD vs. FWD - Sharpe Ratio Comparison

The current FWRD Sharpe Ratio is -0.58, which is lower than the FWD Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of FWRD and FWD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FWRD	FWD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.58	3.16	-3.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	1.67	-1.56

Drawdowns

FWRD vs. FWD - Drawdown Comparison

The maximum FWRD drawdown since its inception was -93.19%, which is greater than FWD's maximum drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for FWRD and FWD.

Drawdown Indicators

	FWRD	FWD	Difference
Max Drawdown Largest peak-to-trough decline	-93.19%	-29.02%	-64.17%
Max Drawdown (1Y) Largest decline over 1 year	-74.25%	-13.03%	-61.22%
Max Drawdown (3Y) Largest decline over 3 years	-93.02%	-29.02%	-64.00%
Max Drawdown (5Y) Largest decline over 5 years	-93.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-93.19%	—	—
Current Drawdown Current decline from peak	-92.07%	-0.27%	-91.80%
Average Drawdown Average peak-to-trough decline	-26.82%	-4.06%	-22.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.40%	3.66%	+27.74%

Volatility

FWRD vs. FWD - Volatility Comparison

Forward Air Corporation (FWRD) has a higher volatility of 62.40% compared to AB Disruptors ETF (FWD) at 7.77%. This indicates that FWRD's price experiences larger fluctuations and is considered to be riskier than FWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FWRD	FWD	Difference
Volatility (1M) Calculated over the trailing 1-month period	62.40%	7.77%	+54.63%
Volatility (6M) Calculated over the trailing 6-month period	77.14%	18.96%	+58.18%
Volatility (1Y) Calculated over the trailing 1-year period	80.06%	24.15%	+55.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.40%	24.72%	+37.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.06%	24.72%	+24.34%

Dividends

FWRD vs. FWD - Dividend Comparison

FWRD has not paid dividends to shareholders, while FWD's dividend yield for the trailing twelve months is around 0.08%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FWD AB Disruptors ETF	0.08%	0.11%	1.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FWRD Forward Air Corporation	0.00%	0.00%	0.00%	1.53%	0.92%	0.87%	0.98%	1.03%	1.15%	1.04%	1.08%	1.12%

Frequently Asked Questions

Can I hold both FWRD and FWD in my portfolio?

FWRD and FWD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FWRD or FWD?

FWRD has higher volatility (62.40%) compared to FWD (7.77%). In terms of maximum drawdown, FWRD dropped -93.19% vs FWD's -29.02%.

Which has better risk-adjusted returns?

FWD currently has the higher Sharpe Ratio (3.16 vs -0.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.