Which themes are working?
Themes like artificial intelligence, the power grid or space can run far ahead of the market and then give it all back. Ranking them against each other and against the S&P 500 shows where enthusiasm sits now, and which stories have faded.
Updated Oct 9, 2026
4 of 14 beat the S&P
Over the past three months 4 of 14 theme funds beat the S&P 500. Genomics leads at +20 points; bitcoin miners trails at −30.
Every theme
Sorted by the last three months against the S&P 500. Select a row for its chart. Select a column to sort.
| Theme | Rank, 3M | vs S&P, 1M | 3M | 1Y | YTD return | Past year vs S&P |
|---|---|---|---|---|---|---|
| Genomics ARKG | 100Leading | +10.3 pts | +20.4 pts | +44 pts | +77% | |
| Disruptive innovation ARKK | 92Leading | +5.2 pts | +8.3 pts | −19 pts | +17% | |
| Artificial intelligence IVES | 85Leading | +4.2 pts | +7.3 pts | +8 pts | +33% | |
| Magnificent Seven MAGS | 77Leading | +3.9 pts | +5.7 pts | −3 pts | +12% | |
| Space ARKX | 69Leading | −1.1 pts | −2.6 pts | −15 pts | +11% | |
| Quantum computing QTUM | 62Middle | +1.7 pts | −4.5 pts | +20 pts | +39% | |
| Power grid GRID | 54Middle | −0.7 pts | −5.1 pts | +2 pts | +18% | |
| Cannabis MSOS | 46Middle | −12.9 pts | −6.3 pts | −35 pts | −8% | |
| Blockchain BLOK | 38Middle | −8.0 pts | −7.8 pts | −35 pts | +5% | |
| US infrastructure PAVE | 31Lagging | −2.6 pts | −8.6 pts | −5 pts | +12% | |
| Global infrastructure IGF | 23Lagging | −4.8 pts | −9.1 pts | −14 pts | +2% | |
| Nuclear power NLR | 15Lagging | −15.0 pts | −12.4 pts | −45 pts | −17% | |
| Uranium URNM | 8Lagging | −17.6 pts | −15.4 pts | −40 pts | −15% | |
| Bitcoin miners WGMI | 0Lagging | −14.5 pts | −29.7 pts | −43 pts | +5% |
How to read this page
How it’s measured. Each theme is represented by a fund devoted to it and measured against the S&P 500. The rank compares themes with each other over 13 weeks.
Sources. Daily prices from Financial Modeling Prep.
Theme funds hold baskets chosen by their managers, so two funds on the same theme can perform very differently. Several of these funds are small or new.
In our research, buying and holding a fixed theme spent long stretches behind the market; themes earn their keep through rotation, not loyalty.
This page is information, not investment advice. About our data and methods ›