Data as of .
AMMO vs EUAD: which is really different?
AMMO and EUAD hold 14% of their weight in the same names.
ETFIQ Off-Index Score: EUAD 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
14% 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 EUAD hold 14% of their money in the same securities at the same weight.
| Holding | AMMO | EUAD |
|---|---|---|
| Rheinmetall AG | 3.76% | 7.53% |
| Hensoldt AG | 2.36% | 4.90% |
| Saab AB | 1.99% | 7.00% |
| Chemring Group PLC | 2.76% | 1.33% |
| Safran SA | 1.05% | 7.56% |
| MTU Aero Engines AG | 0.95% | 11.03% |
| Only in AMMO | Only in EUAD |
|---|---|
| LIG Defense&Aerospace Co Ltd 4.80% | Airbus SE 14.86% |
| Mildef Group AB 3.78% | BAE Systems PLC 8.96% |
| Kitron ASA 3.50% | Rolls-Royce Holdings 8.43% |
| Palantir Technologies Inc 3.17% | Leonardo SpA 8.27% |
| MP Materials Corp 3.05% | Thales SA 6.92% |
| Cohort PLC 2.76% | CLEARST. RYCEY SWAP 6.00% |
| L3Harris Technologies Inc 2.51% | Babcock Internationa 4.14% |
| TTM Technologies Inc 2.49% | QinetiQ Group PLC 2.02% |
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 May 31, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| AMMO | EUAD | AMMO | EUAD | AMMO | EUAD | |
| 3 months | not published | +1.0% | not published | −1.3 pts | not published | +3.5 pts |
| 6 months | not published | +4.8% | not published | −13.2 pts | not published | −19.4 pts |
| 1 year | not published | −4.4% | not published | −21.0 pts | not published | −26.2 pts |
| Since launch | +0.9% | +70.4% | −0.8 pts | +36.8 pts | −1.3 pts | +23.6 pts |
| AMMO VistaShares Defense Supercycle ETF Holds 52 stocks in defense, 13% of its weight in S&P 500 companies | EUAD Select STOXX Europe Aerospace & Defense ETF Holds 18 stocks in defense, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VistaShares | Tuttle |
| Theme | Defense | Defense |
| In the S&P 500 | 12.6% | 0.0% |
| Active share vs the S&P 500 | 99.1% | 100.0% |
| In the Nasdaq-100 | 3.2% | 0.0% |
| Holdings | 52 | 18 |
| Top ten, share of the fund | 32.6% | 86.6% |
| Expense ratio | 0.75% | 0.50% |
| Fee for the differing part | 0.76% | 0.50% |
| Total return, 1 year | +0.9% (since launch on Jul 16, 2026) | −4.4% |
| vs the S&P 500 | −0.8 pts | −21.0 pts |
| vs the Nasdaq-100 | −1.3 pts | −26.2 pts |
| Below its high | −14.0% | −11.6% |
| Net assets | $3m | $1.2bn |
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.
EUAD in plain words
By weight, 0% of EUAD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 87% of the fund across 18 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned −4.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 21.0 pts. It sits 11.6% below its all-time high of Jan 13, 2026.
Questions people ask
- Do AMMO and EUAD hold the same stocks?
- By their latest filings, 14% 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 EUAD?
- AMMO has 13% of its weight in S&P 500 names and EUAD has 0%, so EUAD differs more from the index.
- Which is cheaper, AMMO or EUAD?
- AMMO charges 0.75% a year and EUAD charges 0.50%, so EUAD 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 EUAD, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ammo-vs-euad Free to use with attribution; the underlying files are at Open data.