FDN vs ARKW: Holdings Overlap
FDNFirst Trust Dow Jones Internet Index Fund
First Trust · 41 holdings · $5.3B · as of 2026-03-31
ARKWARK Next Generation Internet ETF
ARK · 42 holdings · $1.7B · as of 2026-04-30
Holdings snapshots are 30 days apart (FDN: 2026-03-31, ARKW: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FDN and ARKW?
First Trust Dow Jones Internet Index Fund (FDN, by First Trust) holds 41 positions; ARK Next Generation Internet ETF (ARKW, by ARK) holds 42. They have 11 holdings in common, and by portfolio weight the two funds are 20.0% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 20.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 11FDN holds 41 · ARKW holds 42
- Weight in Shared Holdings
- FDN 48%·ARKW 24%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FDN
30 of 41 positions (52.4% of the fund) are not held by ARKW.
Only in ARKW
31 of 42 positions (75.5% of the fund) are not held by FDN. Showing the top 30 by weight.
Sector Breakdown
| Sector | FDN | ARKW |
|---|---|---|
| Information Technology | 38.1% | 39.5% |
| Communication Services | 29.8% | 16.6% |
| Consumer Discretionary | 26.9% | 17.3% |
| Financials | 2.2% | 18.1% |
| Industrials | 1.6% | 0.0% |
| Other Sectors | 1.4% | 0.0% |
| Unclassified | 0.0% | 8.4% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (0% of FDN, 8% of ARKW).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FDN | +6.5% | +7.5% | +6.5% | +19.6% | +3.6% | +13.9% | — |
| ARKW | +0.5% | +0.1% | -4.8% | +34.6% | +0.7% | +22.3% | 1.59% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FDN vs ARKW →
Shared Holdings(11)
The top 10 shared positions account for 97% of the overlap, led by AMZN, GOOG and META.
 AMZNAmazon.com, Inc. COM | 10.25% | 4.20% | 4.20% |
|---|---|---|---|
 GOOGAlphabet Inc. CAP STK CL C | 4.33% | 3.93% | 3.93% |
 METAMeta Platforms, Inc., Class A | 9.14% | 2.16% | 2.16% |
 RBLXRoblox Corporation CL A | 1.97% | 3.04% | 1.97% |
 NETCloudflare, Inc., Class A | 3.45% | 1.81% | 1.81% |
 DDOGDatadog, Inc., Class A | 2.04% | 1.47% | 1.47% |
 NFLXNetflix, Inc. COM | 8.98% | 1.33% | 1.33% |
 CRWVCoreWeave, Inc., Class A | 0.99% | 4.06% | 0.99% |
 DASHDoorDash, Inc., Class A | 2.96% | 0.98% | 0.98% |
 DKNGDraftKings, Inc., Class A | 0.56% | 0.95% | 0.56% |
 ABNBAirbnb, Inc., Class A | 2.82% | 0.56% | 0.56% |
Frequently Asked Questions
How much do FDN and ARKW overlap?
FDN and ARKW overlap by 20.0% of portfolio weight. They share 11 holdings (FDN holds 41 positions and ARKW holds 42), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FDN and ARKW?
The two portfolios are 20.0% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of FDN and ARKW?
The largest positions held by both funds are AMZN, GOOG, META, RBLX and NET. Together the top 10 shared positions account for 97% of the total overlap.
What does FDN own that ARKW doesn't?
30 positions (52.4% of FDN) are unique to FDN, led by CSCO, GOOGL and BKNG. In the other direction, 31 positions (75.5% of ARKW) are unique to ARKW.