Data as of .
AMMO vs FOWF: which is really different?
AMMO and FOWF hold 10% 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
10% 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 FOWF hold 10% of their money in the same securities at the same weight.
| Holding | AMMO | FOWF |
|---|---|---|
| L3Harris Technologies Inc | 2.51% | 3.24% |
| Keysight Technologies Inc | 1.90% | 1.09% |
| Howmet Aerospace Inc | 0.84% | 0.80% |
| Kongsberg Gruppen ASA | 1.98% | 0.69% |
| Rolls-Royce Holdings PLC | 2.09% | 0.67% |
| Palantir Technologies Inc | 3.17% | 0.63% |
| Safran SA | 1.05% | 0.62% |
| TransDigm Group Inc | 2.20% | 0.56% |
| CAE Inc | 0.95% | 0.55% |
| MTU Aero Engines AG | 0.95% | 0.53% |
| Saab AB | 1.99% | 0.53% |
| Rheinmetall AG | 3.76% | 0.52% |
| Only in AMMO | Only in FOWF |
|---|---|
| LIG Defense&Aerospace Co Ltd 4.80% | General Dynamics Corp 7.55% |
| Mildef Group AB 3.78% | Boeing Co/The 7.51% |
| Kitron ASA 3.50% | RTX Corp 6.76% |
| MP Materials Corp 3.05% | Lockheed Martin Corp 6.39% |
| Chemring Group PLC 2.76% | Northrop Grumman Corp 5.58% |
| Cohort PLC 2.76% | BAE Systems PLC 3.98% |
| TTM Technologies Inc 2.49% | Dell Technologies Inc 2.10% |
| AeroVironment Inc 2.47% | Leidos Holdings Inc 2.08% |
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 Apr 30, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| AMMO | FOWF | AMMO | FOWF | AMMO | FOWF | |
| 3 months | not published | +2.2% | not published | −0.1 pts | not published | +4.7 pts |
| 6 months | not published | +5.6% | not published | −12.4 pts | not published | −18.6 pts |
| 1 year | not published | +12.7% | not published | −3.9 pts | not published | −9.1 pts |
| Since launch | +0.9% | +43.5% | −0.8 pts | +10.6 pts | −1.3 pts | +2.6 pts |
| AMMO VistaShares Defense Supercycle ETF Holds 52 stocks in defense, 13% of its weight in S&P 500 companies | FOWF Pacer Solactive Whitney Future of Warfare ETF Holds 86 stocks in defense, 74% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VistaShares | Pacer |
| Theme | Defense | Defense |
| In the S&P 500 | 12.6% | 73.5% |
| Active share vs the S&P 500 | 99.1% | 88.4% |
| In the Nasdaq-100 | 3.2% | 13.7% |
| Holdings | 52 | 86 |
| Top ten, share of the fund | 32.6% | 46.9% |
| Expense ratio | 0.75% | 0.49% |
| Fee for the differing part | 0.76% | 0.55% |
| Total return, 1 year | +0.9% (since launch on Jul 16, 2026) | +12.7% |
| vs the S&P 500 | −0.8 pts | −3.9 pts |
| vs the Nasdaq-100 | −1.3 pts | −9.1 pts |
| Below its high | −14.0% | −8.4% |
| Net assets | $3m | $15m |
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.
FOWF in plain words
By weight, 74% of FOWF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 88%. The top ten holdings are 47% of the fund across 86 positions, as filed for Apr 30, 2026. Over the year to Sep 18, 2026 the fund returned +12.7% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 3.9 pts. It sits 8.4% below its all-time high of Aug 14, 2026.
Questions people ask
- Do AMMO and FOWF hold the same stocks?
- By their latest filings, 10% 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 FOWF?
- AMMO has 13% of its weight in S&P 500 names and FOWF has 74%, so AMMO differs more from the index.
- Which is cheaper, AMMO or FOWF?
- AMMO charges 0.75% a year and FOWF charges 0.49%, so FOWF 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 FOWF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ammo-vs-fowf Free to use with attribution; the underlying files are at Open data.