Data as of .
AMMO vs MISL: which is really different?
AMMO and MISL hold 20% 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
20% 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 MISL hold 20% of their money in the same securities at the same weight.
| Holding | AMMO | MISL |
|---|---|---|
| Palantir Technologies Inc | 3.17% | 11.75% |
| L3Harris Technologies Inc | 2.51% | 3.57% |
| TransDigm Group Inc | 2.20% | 3.53% |
| Woodward Inc | 2.09% | 2.16% |
| Curtiss-Wright Corp | 1.84% | 2.37% |
| Rocket Lab Corp | 1.62% | 3.34% |
| Moog Inc | 2.07% | 1.31% |
| Kratos Defense & Security Solutions Inc | 2.16% | 1.00% |
| AeroVironment Inc | 2.47% | 0.91% |
| Howmet Aerospace Inc | 0.84% | 3.56% |
| Leonardo DRS Inc | 0.71% | 1.12% |
| Mercury Systems Inc | 1.66% | 0.58% |
| Only in AMMO | Only in MISL |
|---|---|
| LIG Defense&Aerospace Co Ltd 4.80% | Space Exploration Technologies Corp. (Class A) 8.81% |
| Mildef Group AB 3.78% | RTX Corporation 8.30% |
| Rheinmetall AG 3.76% | The Boeing Company 7.48% |
| Kitron ASA 3.50% | GE Aerospace 7.34% |
| MP Materials Corp 3.05% | Lockheed Martin Corporation 4.27% |
| Chemring Group PLC 2.76% | Northrop Grumman Corporation 4.10% |
| Cohort PLC 2.76% | General Dynamics Corporation 3.95% |
| TTM Technologies Inc 2.49% | HEICO Corporation 3.56% |
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 Sep 18, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| AMMO | MISL | AMMO | MISL | AMMO | MISL | |
| 3 months | not published | −8.7% | not published | −10.9 pts | not published | −6.2 pts |
| 6 months | not published | −7.5% | not published | −25.5 pts | not published | −31.7 pts |
| 1 year | not published | +6.4% | not published | −10.2 pts | not published | −15.4 pts |
| 3 years | not published | +93.1% | not published | +14.7 pts | not published | −5.1 pts |
| Since launch | +0.9% | +109.5% | −0.8 pts | −0.6 pts | −1.3 pts | −56.0 pts |
| AMMO VistaShares Defense Supercycle ETF Holds 52 stocks in defense, 13% of its weight in S&P 500 companies | MISL First Trust Indxx Aerospace & Defense ETF Holds 40 stocks in defense, 62% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VistaShares | First Trust |
| Theme | Defense | Defense |
| In the S&P 500 | 12.6% | 62.4% |
| Active share vs the S&P 500 | 99.1% | 97.5% |
| In the Nasdaq-100 | 3.2% | 11.8% |
| Holdings | 52 | 40 |
| Top ten, share of the fund | 32.6% | 63.1% |
| Expense ratio | 0.75% | 0.60% |
| Fee for the differing part | 0.76% | 0.62% |
| Total return, 1 year | +0.9% (since launch on Jul 16, 2026) | +6.4% |
| vs the S&P 500 | −0.8 pts | −10.2 pts |
| vs the Nasdaq-100 | −1.3 pts | −15.4 pts |
| Below its high | −14.0% | −16.9% |
| Net assets | $3m | $704m |
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.
MISL in plain words
By weight, 62% of MISL'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 63% of the fund across 40 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +6.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 10.2 pts. It sits 16.9% below its all-time high of Jan 16, 2026.
Questions people ask
- Do AMMO and MISL hold the same stocks?
- By their latest filings, 20% of their books are the same securities at the same weight, which is a meaningful overlap. 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 13% of its weight in S&P 500 names and MISL has 62%, 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
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 MISL, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ammo-vs-misl Free to use with attribution; the underlying files are at Open data.