FRWD vs SPY
Nomura Transformational Technologies ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FRWD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $288M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 27 | 505 | |
| YTD Return | +29.21% | +12.68% | |
| 1Y Return | - | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -18.5% | -56.5% | |
| Fund Family | Nomura Asset Management Co Ltd | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 13, 2026 | Jan 22, 1993 |
FRWD vs SPY Performance
Nomura Transformational Technologies ETF (FRWD) is a ETF from Nomura Asset Management Co Ltd and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, FRWD is up 29.21% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -18.5% for FRWD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
FRWD charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, FRWD currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
FRWD and SPY share 15 holdings out of 515 unique holdings combined, representing a 25.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FRWD or SPY?
FRWD has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
What is the holdings overlap between FRWD and SPY?
FRWD and SPY share 15 common holdings with a 25.5% weight overlap. Combined, they hold 515 unique securities.
Which pays a higher dividend, FRWD or SPY?
FRWD yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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