What are big data & analytics ETFs?
Big data and analytics ETFs aim to own companies that collect, move, store and make sense of data. The six US-listed funds in this group take different routes to that idea, and no stock appears in more than two of them. NVIDIA, Alphabet, Snowflake, MongoDB, Microsoft, Broadcom, Micron, Oracle, Meta Platforms and AMD are among those held by two of the six.
Pacer's TRFK is an index fund, meaning it copies a rules-based list of stocks, in this case the Pacer Data Transmission and Communication Revolution Index. It leans on chipmakers: NVIDIA, Broadcom, Micron, AMD and SK hynix were its five largest holdings. ProShares' DAT tracks the FactSet Big Data Refiners Index with 25 stocks led by Elastic and Zebra Technologies. Franklin Templeton's XDAT names no index; Cloudflare and Alphabet lead it. JPMorgan's three Fundamental Data Science funds, LCDS (large companies), MCDS (mid-size) and SCDS (small), also name no index and hold broad mixes such as Apple, Cardinal Health and MYR Group. In these funds, the data science label appears to describe how stocks are chosen, not what the companies do. None of the six uses leverage, inverse bets or options.
Concentration varies widely. The 10 largest holdings made up 56% of XDAT, 53% of TRFK and 52% of DAT, but only 9% of SCDS and 11% of MCDS. Expense ratios, the annual fee taken from fund assets, run from 0.30% for LCDS to 0.58% for DAT, with a median of 0.40%; TRFK charges 0.49%.
The money is lopsided. Of about $998 million across the six funds, TRFK held about $955 million, and the five largest held 99.6% of the total. Every other fund held less than $16 million, small enough that trading costs and the chance of a fund closing are worth checking.
Big data & analytics ETF holdings: the stocks most funds own
The stocks that show up most often among the largest positions of the 6 biggest big data & analytics ETFs with holdings reports, from their latest N-PORT filings.
| Stock | Funds holding it | Typical weight |
|---|---|---|
| NVIDIA Corp | 2 of 6 | 8.33% |
| Alphabet, Inc. | 2 of 6 | 5.31% |
| Snowflake, Inc. | 2 of 6 | 4.98% |
| MongoDB, Inc. | 2 of 6 | 3.71% |
| Microsoft Corp. | 2 of 6 | 3.52% |
| Palo Alto Networks Inc | 2 of 6 | 3.42% |
| Micron Technology Inc | 2 of 6 | 2.99% |
| Oracle Corp | 2 of 6 | 2.61% |
| Broadcom Inc | 2 of 6 | 2.6% |
| Crowdstrike Holdings Inc | 2 of 6 | 2.44% |
| Meta Platforms, Inc. | 2 of 6 | 2.42% |
| Advanced Micro Devices Inc | 2 of 6 | 1.68% |
Typical weight is the median share of each fund’s assets in the stock, among the funds that hold it in their 25 largest positions.
The largest big data & analytics ETFs, side by side
Swipe the table to see all 5 funds.
| TRFK | LCDS | SCDS | MCDS | DAT | |
|---|---|---|---|---|---|
| Net assets | $954.5M | $16.0M | $9.2M | $8.2M | $6.5M |
| Expense ratio | 0.49% | 0.3% | 0.4% | 0.35% | 0.58% |
| Holdings | 94 | 112 | 274 | 202 | 25 |
| In the 10 largest | 53.03% | 41.31% | 9.22% | 10.66% | 51.88% |
| Biggest holding | NVIDIA Corp (9.35%) | NVIDIA Corp. (8.33%) | MYR Group, Inc. (1.05%) | Teradyne, Inc. (1.36%) | Elastic NV (5.86%) |
| Yield | 0.03% | 0.85% | 1.1% | 1.01% | — |
| 1-year return | +26.8% | +14.1% | +22.3% | +16.1% | +9.6% |
| 3 years, a year | +46.8% | — | — | — | +27.5% |
| 5 years, a year | — | — | — | — | +5.1% |
| Worst drop, past year | -26.2% | -9.0% | -9.7% | -7.5% | -32.7% |
| Launched | 2022 | 2024 | 2024 | 2024 | 2021 |
The largest ordinary funds by net assets (leveraged and inverse funds are listed further down). Holdings from each fund’s latest N-PORT report; returns include reinvested distributions, as of Oct 27, 2026.
Head to head
TRFK vs LCDS
TRFK held about $955 million, LCDS about $16 million. Both had NVIDIA as their biggest holding, and 20.7% of their assets overlap, the most among the five largest funds. TRFK is more concentrated, with 53% in its top 10, led by chipmakers; LCDS had 41%, with Apple, Alphabet and Microsoft behind NVIDIA. LCDS costs 0.30% a year, TRFK 0.49%. In the year to October 27, 2026, TRFK returned 26.8%, with a worst drop of 26.2%; LCDS returned 14.1%, with a worst drop of 9%. TRFK may suit investors wanting a chip-heavy fund; LCDS, those wanting a broader large-company mix.
TRFK vs DAT
TRFK follows the Pacer Data Transmission and Communication Revolution Index across 94 stocks, led by NVIDIA at 9.35%. DAT follows the FactSet Big Data Refiners Index with just 25, led by Elastic at 5.86% and Zebra Technologies. Their top 10s are similar in weight, 53% and 52%, but only 3.3% of assets overlap. DAT costs 0.58% a year, TRFK 0.49%. In the year to October 27, 2026, TRFK returned 26.8% and DAT 9.6%, with worst drops of 26.2% and 32.7%. DAT may suit those wanting a small basket of data companies; TRFK, those wanting a chip-heavy mix.
LCDS vs SCDS
These JPMorgan funds launched on the same day, August 7, 2024, and share no holdings: their overlap is 0%. LCDS owns 112 large-company stocks, led by NVIDIA at 8.33%, with 41% in its top 10. SCDS spreads across 274 smaller companies, led by MYR Group at just 1.05%, with 9% in its top 10. LCDS costs 0.30% a year, SCDS 0.40%. In the year to October 27, 2026, SCDS returned 22.3% and LCDS 14.1%, with similar worst drops of 9.7% and 9%. LCDS may suit investors wanting large companies; SCDS, those wanting small ones.
How much do the largest big data & analytics ETFs overlap?
Owning two funds that hold the same stocks adds little diversification. Overlap here is the share of assets two funds have in common: for each stock both own, the smaller of its two weights, added up.
| Funds | Assets in common | Shared holdings | |
|---|---|---|---|
| TRFK and LCDS | 20.7% | 13 | |
| LCDS and MCDS | 8.7% | 25 | |
| TRFK and MCDS | 4.7% | 14 | |
| TRFK and DAT | 3.3% | 8 | |
| MCDS and DAT | 2.7% | 6 | |
| SCDS and MCDS | 2.3% | 12 | |
| TRFK and SCDS | 1% | 10 | |
| SCDS and DAT | 0.3% | 2 | |
| LCDS and DAT | 0.2% | 1 | |
| LCDS and SCDS | 0% | 0 |
From each fund’s full holdings in its latest N-PORT report.
How have big data & analytics ETFs performed?
The five largest ordinary funds: growth from the start of the range, distributions reinvested. The dashed gray line is the S&P 500 (SPY).
How big data & analytics ETFs did in past market crashes
| Fund | 2008 crash | 2020 crash | 2022 drop |
|---|---|---|---|
| TRFK | not yet launched | not yet launched | not yet launched |
| LCDS | not yet launched | not yet launched | not yet launched |
| SCDS | not yet launched | not yet launched | not yet launched |
| MCDS | not yet launched | not yet launched | not yet launched |
| DAT | not yet launched | not yet launched | -45.4% |
| S&P 500 (SPY) | -55.2% | -33.7% | -24.5% |
Total return from the stock market’s peak to its low in each fall, distributions reinvested.
What drives big data & analytics ETFs?
Chipmakers such as NVIDIA, Broadcom and Micron, which lead TRFK, depend on how much businesses spend on data centers and computing gear, and chip demand runs in boom-and-bust cycles. Data companies such as Snowflake, held by DAT and XDAT, rely on corporate tech budgets, which tend to be trimmed when the economy slows. Many of these stocks are priced on profits expected years ahead, so higher interest rates, which shrink the value of future earnings, tend to hit them hard. The JPMorgan funds own a wider mix, from Cardinal Health to State Street, so they track the broader economy more closely.
None of the six existed during the 2008 financial crisis, when the S&P 500 fell 55.2%, or the 2020 COVID crash, when it fell 33.7%. DAT went through the 2022 bear market, a long slide in stock prices, and dropped 45.4%, nearly twice the S&P 500's 24.5% fall. TRFK launched in June 2022 and the JPMorgan funds in August 2024, so they have no full bear-market record. In the year to October 27, 2026, the worst drops were 32.7% for DAT, 29.3% for XDAT and 26.2% for TRFK, but no more than 9.7% for the JPMorgan funds.
Big data & analytics ETFs with the lowest expense ratios
| # | Fund | Expense ratio | On $10,000 | Net assets |
|---|---|---|---|---|
| 1 | LCDS JPMorgan Fundamental Data Science Large Core … | 0.3% | $30 a year | $16.0M |
| 2 | TRFK Pacer Data and Digital Revolution ETF | 0.49% | $49 a year | $954.5M |
Ordinary funds with at least $10 million in net assets. The median ordinary big data & analytics ETF charges 0.4% a year; leveraged and inverse funds usually charge more.
Do big data & analytics ETFs pay dividends?
4 of the 6 ordinary big data & analytics ETFs with a page here paid distributions over the last 12 months, with a median yield of 0.85%.
| Highest yields | Yield | Net assets |
|---|---|---|
| TRFK Pacer Data and Digital Revolution ETF | 0.03% | $954.5M |
Distributions over the last 12 months divided by the price; funds with at least $25 million in net assets.
How to choose a big data & analytics ETF
- Fees run from 0.30% to 0.58%. LCDS charges 0.30% a year, followed by MCDS at 0.35% and SCDS at 0.40%. The largest fund, TRFK, charges 0.49%, XDAT 0.50% and DAT 0.58%. Fees come out every year, whatever the fund returns.
- Data companies or data-driven stock picking. TRFK, DAT and XDAT own companies tied to data, from NVIDIA to Snowflake. JPMorgan's LCDS, MCDS and SCDS hold everyday businesses such as Cardinal Health and Marathon Petroleum; the data angle appears to be in how stocks are chosen.
- Index rules or a manager's judgment. TRFK and DAT track published indexes, so their holdings follow set rules. XDAT and the three JPMorgan funds name no index; their stated goal is capital appreciation (growth in value), so their managers decide what to own.
- Few big bets or many small ones. The 10 largest holdings made up 56% of XDAT, 53% of TRFK and 52% of 25-stock DAT. SCDS and MCDS spread money across 274 and 202 stocks, with about 9% and 11% in their top 10.
- Large, mid-size or small companies. JPMorgan splits its range by size: LCDS for large companies, MCDS for mid-size and SCDS for small. LCDS and SCDS share no holdings at all, so each covers a separate slice of the market.
- One large fund, five very small ones. TRFK held about $955 million. LCDS held about $16 million and XDAT about $3.7 million. Very small ETFs can have wider gaps between quoted trading prices and are more likely to close, forcing a payout that may be taxable.
What are the risks of big data & analytics ETFs?
- A few chip stocks drive TRFK. Most of the group's money sits in TRFK, and its top 10 holdings made up 53% of the fund. NVIDIA and Broadcom alone were 9.35% and 9.08%, so a slump in chip stocks hits it hard.
- Big swings in TRFK, DAT and XDAT. In the year to October 27, 2026, volatility, a measure of how widely returns swing, was 39.4% for TRFK, 34.7% for DAT and 27.2% for XDAT. Their worst peak-to-low drops were 26.2%, 32.7% and 29.3%.
- Deep losses in the 2022 bear market. DAT fell 45.4% in the 2022 bear market, nearly twice the S&P 500's 24.5% decline. A drop that deep can take years to recover, especially for someone withdrawing money along the way.
- Small funds may close or trade thinly. Five of the six held less than $16 million each, and XDAT about $3.7 million. Funds this small can close, returning cash and possibly a taxable gain, and their shares may trade with wider price gaps.
- Short track records. LCDS and SCDS launched in August 2024, MCDS a day later and TRFK in June 2022. None of the six existed during the 2008 or 2020 crashes, leaving little evidence of how most behave in a severe slump.
List of all big data & analytics ETFs, by size
| # | Fund | Net assets | Cost | Yield | YTD | 1 yr | 5 yr |
|---|---|---|---|---|---|---|---|
| 1 | TRFK Pacer Data and Digital Revolution ETF | $954.5M | 0.49% | 0.03% | +43.7% | +26.8% | — |
| 2 | LCDS JPMorgan Fundamental Data Science Large Core ETF | $16.0M | 0.3% | 0.85% | +13.9% | +14.1% | — |
| 3 | SCDS JPMorgan Fundamental Data Science Small Core ETF | $9.2M | 0.4% | 1.1% | +21.9% | +22.3% | — |
| 4 | MCDS JPMorgan Fundamental Data Science Mid Core ETF | $8.2M | 0.35% | 1.01% | +15.5% | +16.1% | — |
| 5 | DAT ProShares Big Data Refiners ETF | $6.5M | 0.58% | — | +18.1% | +9.6% | +5.1% |
| 6 | XDAT Franklin Exponential Data ETF | $3.7M | 0.5% | 0% | +6.2% | -4.2% | -1.0% |
Questions investors ask about big data & analytics ETFs
What is the largest big data ETF?
TRFK, the Pacer Data and Digital Revolution ETF, is by far the largest, with about $955 million of the roughly $998 million in the group. It tracks the Pacer Data Transmission and Communication Revolution Index across 94 stocks, led by NVIDIA, Broadcom and Micron, and charges 0.49% a year. The next largest, JPMorgan's LCDS, held about $16 million.
What is the cheapest big data ETF?
LCDS, the JPMorgan Fundamental Data Science Large Core ETF, costs the least at 0.30% a year. MCDS (0.35%) and SCDS (0.40%) come next. TRFK, the largest fund, charges 0.49%, XDAT 0.50% and DAT 0.58%. The median across the six is 0.40%. LCDS is small, though, with about $16 million in assets.
TRFK vs LCDS: what's the difference?
TRFK is a concentrated, chip-heavy index fund, while LCDS is a broader large-company fund that names no index. TRFK had 53% of assets in its top 10 holdings, LCDS 41%, and about 20.7% of their assets overlap. TRFK is also far larger: about $955 million against about $16 million. LCDS costs 0.30% a year, TRFK 0.49%. In the year to October 27, 2026, TRFK returned 26.8% with a worst drop of 26.2%, while LCDS returned 14.1% with a worst drop of 9%.
Do big data ETFs pay dividends?
Most pay small dividends. Four of the six paid them, with yields as of October 27, 2026, of 1.1% for SCDS, 1.01% for MCDS, 0.85% for LCDS and just 0.03% for TRFK, the largest fund. These funds focus on growth rather than income, so dividends make up only a sliver of their returns.
Which big data ETFs hold NVIDIA?
Two of the six do: TRFK and LCDS. NVIDIA was the largest holding in both, at 9.35% of TRFK and 8.33% of LCDS. The other four do not hold it. DAT and XDAT lean instead on companies such as Elastic, Snowflake and Cloudflare, while MCDS and SCDS focus on mid-size and smaller firms.
How many big data ETFs are there?
Six US-listed ETFs make up this group: Pacer's TRFK, ProShares' DAT, Franklin Templeton's XDAT and JPMorgan's LCDS, MCDS and SCDS. None is leveraged or inverse, and none uses options. Together they held about $998 million, nearly all of it in TRFK. The oldest, XDAT, launched in January 2021; the three JPMorgan funds arrived in August 2024.
What does the Big Data Refiners ETF hold?
ProShares Big Data Refiners ETF (DAT) holds 25 stocks chosen by the FactSet Big Data Refiners Index. Its largest were Elastic, Zebra Technologies, Braze, Five9 and Snowflake, each between 5% and 6% of the fund. It charges 0.58% a year, the highest fee in the group. DAT fell 45.4% in the 2022 bear market; in the year to October 27, 2026, it returned 9.6%, with a worst drop of 32.7%.
What are the JPMorgan Fundamental Data Science ETFs?
They are three JPMorgan funds launched in August 2024 and split by company size: LCDS for large companies (0.30% a year), MCDS for mid-size (0.35%) and SCDS for small (0.40%). They name no index and aim for long-term capital appreciation. Despite the data label, they hold broad mixes, from NVIDIA and Apple in LCDS to Cardinal Health in MCDS and MYR Group in SCDS. Each held between about $8 million and $16 million.
Is there a Vanguard, Fidelity or Schwab big data & analytics ETF?
No. None of the three offers a big data & analytics ETF. The largest big data & analytics ETFs come from Pacer (TRFK), JPMorgan (LCDS) and JPMorgan (SCDS), and customers of all three firms can buy other companies’ ETFs in their brokerage accounts. For a broader fund, VGT (Vanguard Information Technology ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are covered in our technology ETF guide.
