Are AIRR and VO in the same category?

AIRR is a thematic ETF and VO is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, AIRR or VO?

In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and VO +12.8%.

Which is cheaper, AIRR or VO?

VO is cheaper, by 0.66 percentage points a year. That is about $66 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do AIRR and VO overlap with the S&P 500?

By their latest filed holdings, 15% of AIRR and 91% of VO by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

AIRR vs VO: Differences, Returns & Fees

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Over the year to Oct 28, 2026, AIRR returned −0.2% to VO's +12.8%, and VO charges 0.03% to AIRR's 0.69%.

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Net assets: $8.4bn on Oct 27, 2026 for First Trust RBA American Industrial Renaissance ETF, and $103.4bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap ETF.

AIRR on its own →VO on its own →

At a glance

−0.2%

AIRR total return, 1 year

+12.8%

VO total return, 1 year

0.69%

AIRR expense ratio

0.03%

VO expense ratio

Pair scorecard

VO costs 0.66 points a year less; their one-year returns differ by 13.0 points.

AIRR vs VO: Differences, Returns & Fees
Measure	AIRR	VO
Return
Measure	AIRR	VO
Total return, 1 year	−0.2%	+12.8%
Drawdown
Measure	AIRR	VO
Below its all-time high	25.5%, high on Jun 22, 2026
Below its high		3.1%, high on Aug 14, 2026
Against its benchmark
Measure	AIRR	VO
What it tracks	Reshoring and manufacturing	Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index)
Against the S&P 500, 1 year	behind by 13.9 pts
Against its benchmark, 1 year	behind by 13.9 pts
Cost and size
Measure	AIRR	VO
Expense ratio	0.69%	0.03%
Net assets, AIRR as of Oct 27, 2026 and VO as of Sep 30, 2026	$8.4bn	$103.4bn
Active share vs the S&P 500	100%
Holdings
Measure	AIRR	VO
Holdings in common	0%
Top ten holdings, share of the fund	33%	9.7%

Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method

What they share

By the books each fund has filed, AIRR and VO hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first AIRR VO

Only in one fund ↓

Only in AIRR

C.H. Robinson Worldwide, Inc. 3.83%

Karman Holdings Inc. 3.51%

Kratos Defense & Security Solutions, Inc. 3.47%

BWX Technologies, Inc. 3.33%

Herc Holdings, Inc. 3.30%

Owens Corning 3.20%

RBC Bearings Incorporated 3.19%

Dycom Industries, Inc. 3.13%

Only in VO

Cloudflare Inc 1.11%

Valero Energy Corp 1.10%

Marathon Petroleum Corp 1.10%

Phillips 66 1.01%

Quanta Services Inc 0.95%

Vertiv Holdings Co 0.92%

Datadog Inc 0.91%

Howmet Aerospace Inc 0.89%

Check overlap with more funds →

Side by side

AIRR First Trust RBA American Industrial Renaissance ETF VO Vanguard Morningstar Mid-Cap ETF

Where it sits Thematic ETF Stock ETF

Issuer First Trust Vanguard

What it is Reshoring and manufacturing Tracks an index of Mid-Cap

Total return, 1 year −0.2% +12.8%

Its benchmark over the same days +13.7% (VOO) not measured

Gap to its benchmark −13.9 pts vs VOO not measured

Expense ratio 0.69% 0.03%

Already in the S&P 500 14.7% 91.1%

Holdings 55 273

Net assets, AIRR as of Oct 27, 2026 and VO as of Sep 30, 2026 $8.4bn $103.4bn

AIRR and VO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

AIRR

By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%. The top ten holdings are 33% of the fund across 55 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 25.5% below its all-time high of Jun 22, 2026.

VO tracks an index of Mid-Cap. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 9.7%. It sat 3.1% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Are AIRR and VO in the same category?: AIRR is a thematic ETF and VO is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, AIRR or VO?: In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and VO +12.8%.
Which is cheaper, AIRR or VO?: VO is cheaper, by 0.66 percentage points a year. That is about $66 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do AIRR and VO overlap with the S&P 500?: By their latest filed holdings, 15% of AIRR and 91% of VO by weight is stocks the S&P 500 already holds.

Other comparisons

AIRR vs IJH AIRR vs MOAT AIRR vs VBR AIRR vs XOVR VO vs XBI IBB vs VO GDX vs VO REMX vs VO

Where to next

AIRR on its own →VO on its own →Hold both: look the portfolio through →Rankings →AIRR dividend history →AIRR holdings →VO dividend history →VO holdings →Standards and sources →

Sources and dates

AIRR filings on SEC EDGAR ↗

AIRR prospectus with the expense ratio (SEC) ↗

First Trust page for AIRR ↗

VO filings on SEC EDGAR ↗

VO prospectus with the expense ratio (SEC) ↗

Vanguard page for VO ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

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ETFIQ, AIRR against VO, data as of Oct 28, 2026. https://etfiq.com/compare/any/airr-vs-vo

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.