FOTO vs. LAZR: Which one is the purer light ETF? Honestly, both qualify, but they focus on different aspects. FOTO is more 'purely' focused on the photonics/interconnect theme, while LAZR is more like an 'AI photonics and optical interconnect full supply chain' ETF. Simply put, FOTO is more specialized, and LAZR is more comprehensive. FOTO requires that at least 50% of the revenue or operating profit of its holdings come from photonics-related businesses, excluding large diversified companies where photonics is just a marginal sideline. LAZR, on the other hand, invests in companies that 'make data move faster between AI chips, servers, and data centers,' with a focus on silicon photonics and optical interconnect technologies. If you want purer, higher beta exposure to photonics/interconnect, go with FOTO. If you want more complete exposure to the entire AI photonics and optical interconnect supply chain, go with LAZR.