Data as of .
AMMO vs DUTY: which is really different?
AMMO and DUTY hold 18% of their weight in the same names.
ETFIQ Off-Index Score: AMMO scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
18% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, AMMO and DUTY hold 18% of their money in the same securities at the same weight.
| Holding | AMMO | DUTY |
|---|---|---|
| Palantir Technologies Inc | 3.17% | 5.98% |
| L3Harris Technologies Inc | 2.51% | 6.85% |
| Moog Inc | 2.07% | 2.54% |
| Kratos Defense & Security Solutions Inc | 2.16% | 2.06% |
| Teledyne Technologies Inc | 1.96% | 4.35% |
| Rocket Lab Corp | 1.62% | 5.35% |
| Mercury Systems Inc | 1.66% | 1.33% |
| AeroVironment Inc | 2.47% | 1.04% |
| Karman Holdings Inc | 1.17% | 1.00% |
| Leonardo DRS Inc | 0.71% | 0.53% |
| Ducommun Inc | 2.16% | 0.51% |
| Red Cat Holdings Inc | 1.84% | 0.23% |
| Only in AMMO | Only in DUTY |
|---|---|
| LIG Defense&Aerospace Co Ltd 4.80% | General Dynamics Corp 7.57% |
| Mildef Group AB 3.78% | Lockheed Martin Corp 7.34% |
| Rheinmetall AG 3.76% | Northrop Grumman Corp 6.62% |
| Kitron ASA 3.50% | Palo Alto Networks Inc 5.21% |
| MP Materials Corp 3.05% | Fortinet Inc 4.92% |
| Chemring Group PLC 2.76% | Crowdstrike Holdings Inc 4.64% |
| Cohort PLC 2.76% | Okta Inc 4.62% |
| TTM Technologies Inc 2.49% | Akamai Technologies Inc 3.15% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| AMMO | DUTY | AMMO | DUTY | AMMO | DUTY | |
| 3 months | not published | +5.7% | not published | +3.5 pts | not published | +8.2 pts |
| Since launch | +0.9% | +6.9% | −0.8 pts | −6.3 pts | −1.3 pts | −12.3 pts |
| AMMO VistaShares Defense Supercycle ETF Holds 52 stocks in defense, 13% of its weight in S&P 500 companies | DUTY U.S. Defense ETF Holds 50 stocks in defense, 62% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VistaShares | Aura |
| Theme | Defense | Defense |
| In the S&P 500 | 12.6% | 61.8% |
| Active share vs the S&P 500 | 99.1% | 98.1% |
| In the Nasdaq-100 | 3.2% | 23.5% |
| Holdings | 52 | 50 |
| Top ten, share of the fund | 32.6% | 59.1% |
| Expense ratio | 0.75% | 0.45% |
| Fee for the differing part | 0.76% | 0.46% |
| Total return, 1 year | +0.9% (since launch on Jul 16, 2026) | +6.9% (since launch on Apr 8, 2026) |
| vs the S&P 500 | −0.8 pts | −6.3 pts |
| vs the Nasdaq-100 | −1.3 pts | −12.3 pts |
| Below its high | −14.0% | −9.2% |
| Net assets | $3m | $2m |
AMMO in plain words
By weight, 13% of AMMO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 33% of the fund across 52 positions, as published by its issuer for Sep 21, 2026. Since it launched on Jul 16, 2026 the fund returned +0.9% with distributions reinvested against +1.7% for the S&P 500, so a holder was behind by 0.8 pts. It sits 14.0% below its all-time high of Aug 14, 2026.
DUTY in plain words
By weight, 62% of DUTY's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 59% of the fund across 50 positions, as filed for Jun 30, 2026. Since it launched on Apr 8, 2026 the fund returned +6.9% with distributions reinvested against +13.2% for the S&P 500, so a holder was behind by 6.3 pts. It sits 9.2% below its all-time high of Aug 13, 2026.
Questions people ask
- Do AMMO and DUTY hold the same stocks?
- By their latest filings, 18% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, AMMO or DUTY?
- AMMO has 13% of its weight in S&P 500 names and DUTY has 62%, so AMMO differs more from the index.
- Which is cheaper, AMMO or DUTY?
- AMMO charges 0.75% a year and DUTY charges 0.45%, so DUTY is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AMMO against DUTY, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ammo-vs-duty Free to use with attribution; the underlying files are at Open data.