Do AMMO and FOWF hold the same stocks?

By their latest filings, 12% 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 FOWF?

AMMO has 17% of its weight in S&P 500 names and FOWF has 75%, 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.

Data as of Nov 4, 2026.

Thematic ETFs

AMMO vs FOWF: Holdings Overlap & Returns

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AMMO and FOWF hold 12% 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 $15m on Nov 3, 2026 for Pacer Solactive Whitney Future of Warfare ETF.

AMMO on its own →FOWF on its own →

At a glance

17.4%

AMMO in the S&P 500

74.8%

FOWF in the S&P 500

−10.6%

AMMO total return, since launch, Jul 16, 2026

+12.2%

FOWF total return, 1 year

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.

FOWF · 1 year to Nov 4, 2026 25% of its weight is outside the S&P 500

75% of FOWF's weight is in S&P 500 companies and 25% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

FOWF costs 0.26 points a year less; FOWF is 6.0 times larger.

Points (pts) are percentage points.

AMMO vs FOWF: Holdings Overlap & Returns
Measure	AMMO	FOWF
Return
Measure	AMMO	FOWF
Total return, 1 year	not published	+12.2%
Drawdown
Measure	AMMO	FOWF
Below its all-time high	23.7%, high on Aug 14, 2026	7.6%, high on Aug 14, 2026
Against its benchmark
Measure	AMMO	FOWF
What it tracks	Defense	Defense
Its benchmark, total return, 1 year		+15.2%
Against its benchmark, 1 year		behind by 3.0 pts
Cost and size
Measure	AMMO	FOWF
Expense ratio	0.75%	0.49%
Net assets, as of Nov 3, 2026	$2.5m	$15m
Holdings
Measure	AMMO	FOWF
Holdings in common	12%

Method

What they share

12%

By the books each fund has filed, AMMO and FOWF hold 12% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 4, 2026.

50%

0 half 100%

half

12% in common

Positions both hold · largest shared weight first AMMO FOWF

L3Harris Technologies Inc 2.94% 2.00%

RTX Corp 1.59% 8.65%

Palantir Technologies Inc 3.42% 1.11%

Rolls-Royce Holdings PLC 1.52% 0.76%

MTU Aero Engines AG 1.05% 0.75%

Safran SA 1.04% 0.75%

Kongsberg Gruppen ASA 2.48% 0.73%

Howmet Aerospace Inc 0.87% 0.72%

TransDigm Group Inc 2.76% 0.67%

Saab AB 2.39% 0.63%

Motorola Solutions Inc 2.19% 0.61%

CAE Inc 0.68% 0.61%

Only in one fund ↓

Only in AMMO

Mildef Group AB 4.50%

Kitron ASA 3.66%

Cohort PLC 3.37%

Chemring Group PLC 3.20%

LIG Defense&Aerospace Co Ltd 3.12%

Hensoldt AG 2.69%

Elbit Systems Ltd 2.66%

MP Materials Corp 2.59%

Only in FOWF

Lockheed Martin Corp 7.96%

General Dynamics Corp 7.88%

Boeing Co 6.68%

Northrop Grumman Corp 5.08%

BAE Systems PLC 3.65%

Dell Technologies Inc 1.96%

Leidos Holdings Inc 1.74%

Snowflake Inc 1.32%

Check overlap with more funds →

Window by window

Window by window: AMMO vs FOWF: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AMMO	FOWF	AMMO	FOWF
3 months	−19.6%	−5.9%	not measured	−5.3 pts vs URTH
6 months	–	+3.4%	–	−0.9 pts vs URTH
1 year	–	+12.2%	–	−3.0 pts vs URTH
Since launchNot the same days: AMMO Jul 2026 · FOWF Dec 2024	−10.6%	+44.8%	not measured	+8.0 pts vs URTH

– 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 FOWF Pacer Solactive Whitney Future of Warfare ETF · Holds 91 stocks in defense, 75% of its weight in S&P 500 companies

Issuer VistaShares Pacer

Theme Defense Defense

In the S&P 500 17.4% 74.8%

Active share vs the S&P 500 98.6% 88.4%

In the Nasdaq-100 4.9% 14.3%

Holdings 53 91

Top ten, share of the fund 33.8% 46.9%

Expense ratio 0.75% 0.49%

Fee for the differing part 0.76% 0.55%

Total return, 1 year −10.6% (since launch, Jul 16, 2026) +12.2%

vs its benchmark not measured −3.0 pts vs URTH

Below its high −23.7% −7.6%

Net assets, AMMO as of Nov 4, 2026 and FOWF as of Nov 3, 2026 $2.4m $15m

As of Nov 4, 2026. Source: ETFIQ.

12% 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.

FOWF

By weight, 75% 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 91 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +12.2% with distributions reinvested against +15.2% for its benchmark, the MSCI World Index, so a holder was behind by 3.0 pts. It sits 7.6% below its all-time high of Aug 14, 2026.

Questions people ask

Do AMMO and FOWF hold the same stocks?: By their latest filings, 12% 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 FOWF?: AMMO has 17% of its weight in S&P 500 names and FOWF has 75%, 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

AMMO vs ARMY AMMO vs WDAF AMMO vs TSSD AMMO vs WAR FOWF vs XDEF FOWF vs WDGF FOWF vs WR FOWF 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 →FOWF on its own →AMMO holdings →FOWF dividend history →FOWF holdings →Method →Standards and sources →

Sources and dates

AMMO filings on SEC EDGAR ↗

AMMO prospectus with the expense ratio (SEC) ↗

VistaShares page for AMMO ↗

FOWF filings on SEC EDGAR ↗

FOWF prospectus with the expense ratio (SEC) ↗

Pacer 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.

Cite this pageCitation, APA and Markdown

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

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