FMQQvsKWEBETF Comparison
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The Next Frontier Internet & Ecommerce ETF (FMQQ) and KraneShares CSI China Internet ETF (KWEB) belong to the same industry segment: EM Awakening. FMQQ's top 3 sector exposures are Finance, Consumer Non-Cyclicals and Consumer Services. In contrast, KWEB's top sector exposures are Technology, Consumer Non-Cyclicals and Consumer Services. FMQQ is more expensive with a Total Expense Ratio (TER) of 0.86%, versus 0.69% for KWEB. FMQQ is down -13.45% year-to-date (YTD) with -$7M in YTD flows. KWEB performs worse with -28.11% YTD performance, and -$1.00B in YTD flows. Run a side-by-side ETF comparison of FMQQ and KWEB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FMQQ vs KWEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/06/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMQQ KWEB | -4.39%+0.49% | -6.19%-13.06% | -13.45%-28.11% | -17.46%-34.30% | +16.67%-0.60% | -52.27%-38.02% |
| Flows | FMQQ KWEB | -$3M+$226M | -$4M-$170M | -$7M-$1.00B | -$10M-$1.30B | -$5M+$864M | +$16M+$2.40B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMQQ KWEB | +22.68%+23.59% | +19.36%+24.71% | +16.67%+29.80% | +22.06%+39.36% |
| Max drawdown | FMQQ KWEB | -14.88%-22.04% | -25.31%-39.91% | -30.52%-44.51% | -63.74%-61.65% |
| Max drawdown duration | FMQQ KWEB | 73d88d | 360d361d | 414d400d | 1817d1816d |
Trading data
FMQQ | KWEB | |
Last sale 11/6/2026 at 2:30 PM | $11.88 | $24.88 |
| Previous close 11/04/2026 | $11.74 | $24.76 |
| Consolidated volume 11/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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FMQQ | KWEB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/6/2026 at 2:30 PM
Live
Closed
FMQQ | KWEB | |
|---|---|---|
| Last price | $11.88 | $24.88 |
| 1D performance | +1.15% | +0.48% |
| AuM | $16.16 M | $4.71 B |
| E/R | 0.86% | 0.69% |
Characteristics
FMQQ | KWEB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Exchange Traded Concepts | KraneShares |
| Benchmark | FMQQ The Next Frontier Internet & Ecommerce Index | CSI Overseas China Internet Index |
| N° of holdings | 36 | 44 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 27, 2021 | July 31, 2013 |
| ESG | No | No |
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Exposure
Countries
FMQQ
India
46.61%
Brazil
13.01%
Singapore
11.31%
Uruguay
8.08%
Other
21%
KWEB
China
77.85%
Hong Kong
9.2%
Ireland
8.14%
Other
4.81%
Sectors
FMQQ
Finance
34.91%
Consumer Non-Cycl.
28.12%
Consumer Services
17.11%
Technology
9.57%
Energy
7.02%
Other
3.27%
KWEB
Technology
47.89%
Consumer Non-Cycl.
24.13%
Consumer Services
12.04%
Other
15.94%
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Diversification
FMQQ
Total weight of top 15 holdings out of 15
74.76%
KWEB
Total weight of top 15 holdings out of 15
75.1%
Top 15 holdings
Data as of September 30, 2026
FMQQ
MercadoLibre, Inc.
7.53%
Sea Ltd. (Singapore)
7.41%
Reliance Industries Ltd.
7.02%
Bajaj Finance Ltd.
6.19%
Nu Holdings Ltd.
6.17%
Allegro.eu SA
5.93%
Eternal Ltd.
5.61%
XP, Inc.
4.74%
Kaspi.kz JSC
4.61%
Jio Financial Services Ltd.
3.94%
Grab Holdings Ltd. (Singapore)
3.89%
One 97 Communications Ltd.
3.18%
Lenskart Solutions Ltd.
3.06%
NAVER Corp.
2.92%
Coupang, Inc.
2.56%
KWEB
Tencent Holdings Ltd.
10.33%
Alibaba Group Holding Ltd.
8.55%
PDD Holdings, Inc.
8.14%
Meituan
6.97%
NetEase, Inc.
6.63%
Lenovo Group Ltd.
6.16%
KE Holdings, Inc.
4.40%
JD.com, Inc.
3.87%
Trip.com Group Ltd.
3.47%
Baidu, Inc.
3.19%
Kuaishou Technology
3.04%
Full Truck Alliance Co., Ltd.
2.97%
JD Health International, Inc.
2.53%
Kanzhun Ltd.
2.46%
TAL Education Group
2.39%
Frequently asked questions about FMQQ and KWEB
How have the FMQQ and KWEB ETFs performed in 2026?
As of November 6, 2026, FMQQ is down -13.45% year-to-date (YTD), while KWEB has lost -28.11%. That puts FMQQ better performer ahead so far this year.
Which ETF is attracting more investor money: FMQQ or KWEB?
Year-to-date, the FMQQ ETF saw -$7M in flows, compared to -$1.00B for KWEB.
Which ETF is more volatile: FMQQ or KWEB?
Over the past year, FMQQ had a volatility of 19.36%, while KWEB experienced 24.71%.
Which ETF is bigger: FMQQ or KWEB?
As of November 6, 2026, FMQQ holds $16.16 M in assets under management (AUM), while KWEB manages $4.71 B.
What sectors do the FMQQ and KWEB ETFs invest in?
FMQQ leans toward sectors like Finance, Consumer Non-Cyclicals and Consumer Services. Meanwhile, KWEB focuses on Technology, Consumer Non-Cyclicals and Consumer Services.
What are the top holdings of the FMQQ ETF and KWEB ETF?
FMQQ top holdings include MercadoLibre, Inc., Sea Ltd. (Singapore) and Reliance Industries Ltd.. KWEB holds in its top three: Tencent Holdings Ltd., Alibaba Group Holding Ltd. and PDD Holdings, Inc..
Which ETF is more diversified: FMQQ or KWEB?
FMQQ holds 36 securities with 74.76% of its assets in the top 15. KWEB has 44 securities and a top 15 weight of 75.1%.
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