ETF Evaluator:
Nomura Transformational Technologies ETF ()
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(as of Aug 26)
Best Performing in Technology Over the Last Year
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ETF Details
Nomura Transformational Technologies ETF Overview
Nomura Transformational Technologies ETF (FRWD) is an actively managed Sector Equity Technology exchange-traded fund (ETF). Nomura launched the ETF in 2026.
The investment seeks to provide growth of capital.
Under normal circumstances, the Nomura Transformational Technology ETF invests at least 80% of its net assets, plus any borrowings for investment purposes, in technology companies. The fund may invest in securities issued by companies of any size, and may invest without limitation in foreign securities, including securities of issuers within emerging markets. The fund is non-diversified.
About Nomura Transformational Technologies ETF (FRWD)
There are 2 members of the management team with an average tenure of 0.55 years: Bradley Warden (2026) and Gustaf Zinn (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI World Technology NR USD index with a weighting of 100%. Nomura Transformational Technologies ETF has 28 securities in its portfolio. The top 10 holdings constitute 54.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Nomura Transformational Technologies ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Nomura Transformational Technologies ETF has 23.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 75.2% There is 23.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Nomura Transformational Technologies ETF has 1.8% of the portfolio in cash.
Assets Under Management
The fund has $267 million in total assets, which is below the $3 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FRWD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Nomura Transformational Technologies ETF expense ratio is above average compared to funds in the Technology category. Nomura Transformational Technologies ETF has an expense ratio of 0.65%, which is 21% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Nomura Transformational Technologies ETF has a portfolio turnover rate of 11%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 39% for the Technology category.
Recently, in the month of July 2026, Nomura Transformational Technologies ETF returned -8.3%, which earned it a grade of C, as the Technology category had an average return of -9.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Nomura Transformational Technologies ETF has a trailing yield of 0.00%, which is below the 0.45% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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FRWD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FRWD Return (NAV) | -8.3% | 10.1% | na | na | na | na |
| FRWD Return (Price) | -8.5% | 9.9% | na | na | na | na |
| NAV +/- Price Return | 0.197% | 0.266% | na | na | na | na |
| Technology Avg | -9.8% | 7.3% | 33.6% | 22.3% | 10.5% | 19.0% |
| FRWD Grade (NAV) | C | B | na | na | na | na |
| +/- Category (NAV) | 1.6% | 2.8% | na | na | na | na |
| FRWD Tax-Cost Ratio | na | na | na | na | na | na |
FRWD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FRWD Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| FRWD Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Technology Avg | 21.3% | 23.2% | 19.9% | 43.8% | -35.8% | 16.7% | 53.3% | 37.8% | -3.2% | 33.7% | 15.0% |
| FRWD Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 267 Mil |
| Share Class Assets: | $ 267 Mil |
| Turnover: | 11.0% |
| Expense Ratio: | 0.65% |
| Index Fund: | No |
| Index Tracked: | MSCI ACWI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.6 years | |||
| Average Tenure: 0.6 years | |||
| Managers (Year): Warden Bradley (2026), Zinn Gustaf (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 28 |
| % in Top 10 Holdings: | 54.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 23.0% |
Portfolio Allocation |
|
| Domestic Stock: | 75.2% |
| Foreign Stock: | 23.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Nomura |
| Phone Number: | 844-469-9911 |
| Website: | global.nomuraassetmanagement.com/investments/etf |
| Inception Date: | January 12, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.54% |
