Do AMMO and MISL hold the same stocks?

By their latest filings, 22% 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 MISL?

AMMO has 17% of its weight in S&P 500 names and MISL has 66%, so AMMO differs more from the index.

Which is cheaper, AMMO or MISL?

AMMO charges 0.75% a year and MISL charges 0.60%, so MISL is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

AMMO vs MISL: Holdings Overlap & Returns

Share on X Download as PDF

AMMO and MISL hold 22% of their weight in the same names.

askIQ about this page

askIQ about AMMO and MISL

Net assets: $2.4m on Nov 4, 2026 for VistaShares Defense Supercycle ETF, and $685m on Nov 3, 2026 for First Trust Indxx Aerospace & Defense ETF.

AMMO on its own →MISL on its own →

At a glance

17.4%

AMMO in the S&P 500

65.9%

MISL in the S&P 500

−10.6%

AMMO total return, since launch, Jul 16, 2026

−2.3%

MISL 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.

MISL · 1 year to Nov 4, 2026 34% of its weight is outside the S&P 500

66% of MISL's weight is in S&P 500 companies and 34% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

MISL costs 0.15 points a year less; MISL is far larger, $685m against $2.5m.

Points (pts) are percentage points.

AMMO vs MISL: Holdings Overlap & Returns
Measure	AMMO	MISL
Return
Measure	AMMO	MISL
Total return, 1 year	not published	−2.3%
Drawdown
Measure	AMMO	MISL
Below its all-time high	23.7%, high on Aug 14, 2026	19.1%, high on Jan 16, 2026
Against its benchmark
Measure	AMMO	MISL
What it tracks	Defense	Defense
Against the S&P 500, 1 year		behind by 17.1 pts
Its benchmark, total return, 1 year		+14.8%
Against its benchmark, 1 year		behind by 17.1 pts
Cost and size
Measure	AMMO	MISL
Expense ratio	0.75%	0.60%
Net assets, as of Nov 3, 2026	$2.5m	$685m
Holdings
Measure	AMMO	MISL
Holdings in common	22%

Method

What they share

22%

By the books each fund has filed, AMMO and MISL hold 22% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

22% in common

Positions both hold · largest shared weight first AMMO MISL

Palantir Technologies Inc 3.42% 6.60%

L3Harris Technologies Inc 2.94% 4.61%

TransDigm Group Inc 2.76% 4.29%

Woodward Inc 2.37% 2.08%

Curtiss-Wright Corp 1.64% 1.95%

RTX Corp 1.59% 8.62%

Rocket Lab Corp 1.47% 3.14%

Moog Inc 2.07% 1.21%

Howmet Aerospace Inc 0.87% 3.90%

Kratos Defense & Security Solutions Inc 1.82% 0.82%

Leonardo DRS Inc 0.76% 1.10%

AeroVironment Inc 1.95% 0.67%

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%

Hensoldt AG 2.69%

Elbit Systems Ltd 2.66%

Only in MISL

GE Aerospace 8.18%

The Boeing Company 7.16%

Space Exploration Technologies Corp. (Class A) 6.84%

Lockheed Martin Corporation 4.93%

Northrop Grumman Corporation 4.50%

General Dynamics Corporation 4.45%

HEICO Corporation 4.24%

Honeywell Aerospace Inc. 3.92%

Check overlap with more funds →

Window by window

Window by window: AMMO vs MISL: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AMMO	MISL	AMMO	MISL
3 months	−19.6%	−10.2%	not measured	−10.1 pts vs VOO
6 months	–	−7.5%	–	−12.5 pts vs VOO
1 year	–	−2.3%	–	−17.1 pts vs VOO
3 years	–	+79.3%	–	−4.0 pts vs VOO
Since launchNot the same days: AMMO Jul 2026 · MISL Oct 2022	−10.6%	+103.7%	not measured	−8.3 pts vs VOO

– 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 MISL First Trust Indxx Aerospace & Defense ETF · Holds 44 stocks in defense, 66% of its weight in S&P 500 companies

Issuer VistaShares First Trust

Theme Defense Defense

In the S&P 500 17.4% 65.9%

Active share vs the S&P 500 98.6% 97.4%

In the Nasdaq-100 4.9% 20.5%

Holdings 53 44

Top ten, share of the fund 33.8% 60.2%

Expense ratio 0.75% 0.60%

Fee for the differing part 0.76% 0.62%

Total return, 1 year −10.6% (since launch, Jul 16, 2026) −2.3%

vs its benchmark not measured −17.1 pts vs VOO

Below its high −23.7% −19.1%

Net assets, AMMO as of Nov 4, 2026 and MISL as of Nov 3, 2026 $2.4m $685m

As of Nov 4, 2026. Source: ETFIQ.

22% 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.

MISL

By weight, 66% of MISL's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 60% of the fund across 44 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −2.3% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 17.1 pts. It sits 19.1% below its all-time high of Jan 16, 2026.

Questions people ask

Do AMMO and MISL hold the same stocks?: By their latest filings, 22% 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 MISL?: AMMO has 17% of its weight in S&P 500 names and MISL has 66%, so AMMO differs more from the index.
Which is cheaper, AMMO or MISL?: AMMO charges 0.75% a year and MISL charges 0.60%, so MISL is cheaper. Fees come from each fund's prospectus.

Other comparisons

AMMO vs EUAD AMMO vs IDEF AMMO vs KDEF AMMO vs XAR MISL vs DUTY MISL vs XDEF MISL vs WDGF MISL vs WR

Where to next

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

Sources and dates

AMMO filings on SEC EDGAR ↗

AMMO prospectus with the expense ratio (SEC) ↗

VistaShares page for AMMO ↗

MISL filings on SEC EDGAR ↗

MISL prospectus with the expense ratio (SEC) ↗

First Trust page for MISL ↗

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 MISL, data as of Nov 4, 2026. https://etfiq.com/compare/themes/ammo-vs-misl

Open data →

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