Do AMMO and DUTY hold the same stocks?

By their latest filings, 19% of their books are the same securities at the same weight. 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 17% 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.

Data as of Nov 4, 2026.

Thematic ETFs

AMMO vs DUTY: Holdings Overlap & Returns

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AMMO and DUTY hold 19% of their weight in the same names.

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Net assets: $2.4m on Nov 4, 2026 for VistaShares Defense Supercycle ETF, and $2.1m on Jun 30, 2026 for U.S. Defense ETF.

AMMO on its own →DUTY on its own →

At a glance

17.4%

AMMO in the S&P 500

61.7%

DUTY in the S&P 500

−10.6%

AMMO total return, since launch, Jul 16, 2026

+7.2%

DUTY total return, since launch, Apr 8, 2026

AMMO · 3 months to Nov 4, 2026 83% of its weight is outside the S&P 500

17% of AMMO's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Nov 4, 2026.

DUTY · 6 months to Nov 4, 2026 38% of its weight is outside the S&P 500

62% of DUTY's weight is in S&P 500 companies and 38% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

DUTY costs 0.30 points a year less.

AMMO vs DUTY: Holdings Overlap & Returns
Measure	AMMO	DUTY
Drawdown
Measure	AMMO	DUTY
Below its all-time high	23.7%, high on Aug 14, 2026	9.0%, high on Aug 13, 2026
Benchmark
Measure	AMMO	DUTY
What it tracks	Defense	Defense
Cost and size
Measure	AMMO	DUTY
Expense ratio	0.75%	0.45%
Net assets, AMMO as of Nov 4, 2026 and DUTY as of Jun 30, 2026	$2.4m	$2.1m
Holdings
Measure	AMMO	DUTY
Holdings in common	19%

Method

What they share

19%

By the books each fund has filed, AMMO and DUTY hold 19% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

50%

0 half 100%

half

19% in common

Positions both hold · largest shared weight first AMMO DUTY

Palantir Technologies Inc 3.42% 5.96%

L3Harris Technologies Inc 2.94% 6.83%

Teledyne Technologies Inc 2.29% 4.34%

Moog Inc 2.07% 2.53%

Kratos Defense & Security Solutions Inc 1.82% 2.06%

Rocket Lab Corp 1.47% 5.34%

Mercury Systems Inc 1.33% 1.33%

AeroVironment Inc 1.95% 1.03%

Karman Holdings Inc 1.25% 1.00%

Leonardo DRS Inc 0.76% 0.53%

Ducommun Inc 2.27% 0.51%

Red Cat Holdings Inc 1.01% 0.23%

Only in one fund ↓

Only in AMMO

Mildef Group AB 4.50%

Rheinmetall AG 4.09%

Kitron ASA 3.66%

Cohort PLC 3.37%

Chemring Group PLC 3.20%

LIG Defense&Aerospace Co Ltd 3.12%

TransDigm Group Inc 2.76%

Hensoldt AG 2.69%

Only in DUTY

General Dynamics Corp 7.55%

Lockheed Martin Corp 7.32%

Northrop Grumman Corp 6.60%

Palo Alto Networks Inc 5.20%

Fortinet Inc 4.91%

Crowdstrike Holdings Inc 4.63%

Okta Inc 4.61%

Akamai Technologies Inc 3.14%

Check overlap with more funds →

Window by window

Window by window: AMMO vs DUTY: Holdings Overlap & Returns
	Total return
Window	AMMO	DUTY
3 months	−19.6%	−2.5%
6 months	–	+13.4%
Since launchNot the same days: AMMO Jul 2026 · DUTY Apr 2026	−10.6%	+7.2%

– means no data for this window. Open this comparison in the app →

Side by side

AMMO VistaShares Defense Supercycle ETF · Holds 53 stocks in defense, 17% 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 17.4% 61.7%

Active share vs the S&P 500 98.6% 98.1%

In the Nasdaq-100 4.9% 26.0%

Holdings 53 50

Top ten, share of the fund 33.8% 59.0%

Expense ratio 0.75% 0.45%

Fee for the differing part 0.76% 0.46%

Total return, 1 year −10.6% (since launch, Jul 16, 2026) +7.2% (since launch, Apr 8, 2026)

vs its benchmark not measured not measured

Below its high −23.7% −9.0%

Net assets, AMMO as of Nov 4, 2026 and DUTY as of Jun 30, 2026 $2.4m $2.1m

As of Nov 4, 2026. Source: ETFIQ.

19% of the two portfolios are the same securities at the same weight.

Alert

About each fund

AMMO

By weight, 17% 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 34% of the fund across 53 positions, as published by its issuer for Nov 4, 2026. Since it first traded on Jul 16, 2026 the fund returned −10.6% with distributions reinvested. It sits 23.7% below its all-time high of Aug 14, 2026.

DUTY

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 first traded on Apr 8, 2026 the fund returned +7.2% with distributions reinvested. It sits 9.0% below its all-time high of Aug 13, 2026.

Questions people ask

Do AMMO and DUTY hold the same stocks?: By their latest filings, 19% of their books are the same securities at the same weight. 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 17% 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

AMMO vs AV AMMO vs XAR AMMO vs SHLD AMMO vs PPA DUTY vs XDEF DUTY vs WDGF DUTY vs WR DUTY vs TSSD

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AMMO on its own →DUTY on its own →AMMO holdings →DUTY holdings →Method →Standards and sources →

Sources and dates

AMMO and DUTY filings on SEC EDGAR ↗

AMMO prospectus with the expense ratio (SEC) ↗

VistaShares page for AMMO ↗

DUTY prospectus with the expense ratio (SEC) ↗

Aura website ↗

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.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, AMMO against DUTY, data as of Nov 4, 2026. https://etfiq.com/compare/themes/ammo-vs-duty

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