Do AMMO and SHLD hold the same stocks?

By their latest filings, 31% 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 SHLD?

AMMO has 17% of its weight in S&P 500 names and SHLD has 53%, so SHLD differs more from the index.

Which is cheaper, AMMO or SHLD?

AMMO charges 0.75% a year and SHLD charges 0.50%, so SHLD is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

AMMO vs SHLD: Holdings Overlap & Returns

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AMMO and SHLD hold 31% 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 $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF.

AMMO on its own →SHLD on its own →

At a glance

17.4%

AMMO in the S&P 500

52.8%

SHLD in the S&P 500

−10.6%

AMMO total return, since launch, Jul 16, 2026

−8.5%

SHLD 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.

SHLD · 1 year to Nov 4, 2026 47% of its weight is outside the S&P 500

53% of SHLD's weight is in S&P 500 companies and 47% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

SHLD costs 0.25 points a year less; SHLD is far larger, $6.3bn against $2.6m.

AMMO vs SHLD: Holdings Overlap & Returns
Measure	AMMO	SHLD
Return
Measure	AMMO	SHLD
Total return, 1 year	not published	−8.5%
Drawdown
Measure	AMMO	SHLD
Below its all-time high	23.7%, high on Aug 14, 2026	21.4%, high on Mar 9, 2026
Benchmark
Measure	AMMO	SHLD
What it tracks	Defense	Defense
Cost and size
Measure	AMMO	SHLD
Expense ratio	0.75%	0.50%
Net assets, as of Oct 12, 2026	$2.6m	$6.3bn
Holdings
Measure	AMMO	SHLD
Holdings in common	31%

Method

What they share

31%

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

50%

0 half 100%

half

31% in common

Positions both hold · largest shared weight first AMMO SHLD

Rheinmetall AG 4.09% 4.04%

Palantir Technologies Inc 3.42% 10.80%

L3Harris Technologies Inc 2.94% 3.80%

Elbit Systems Ltd 2.66% 2.84%

Saab AB 2.39% 3.58%

Kongsberg Gruppen ASA 2.48% 2.05%

LEONARDO-FINMECCANICA SPA 2.00% 3.54%

RTX Corp 1.59% 9.31%

Moog Inc 2.07% 1.52%

BWX Technologies Inc 1.43% 2.03%

Kratos Defense & Security Solutions Inc 1.82% 1.38%

LIG Defense&Aerospace Co Ltd 3.12% 0.91%

Only in one fund ↓

Only in AMMO

Mildef Group AB 4.50%

Kitron ASA 3.66%

Cohort PLC 3.37%

TransDigm Group Inc 2.76%

MP Materials Corp 2.59%

Woodward Inc 2.37%

Theon International PLC 2.36%

Teledyne Technologies Inc 2.29%

Only in SHLD

GENERAL DYNAMICS CORPORATION 8.59%

LOCKHEED MARTIN CORPORATION 8.34%

Northrop Grumman Corporation 7.71%

BAE SYSTEMS PLC 4.62%

HANWHA AEROSPACE CO., LTD. 3.81%

THALES SA 3.72%

LEIDOS HOLDINGS, INC. 2.56%

HUNTINGTON INGALLS INDUSTRIES, INC. 1.67%

Check overlap with more funds →

Window by window

Window by window: AMMO vs SHLD: Holdings Overlap & Returns
	Total return
Window	AMMO	SHLD
3 months	−19.6%	−9.2%
6 months	–	−9.7%
1 year	–	−8.5%
3 years	–	+133.6%
Since launchNot the same days: AMMO Jul 2026 · SHLD Sep 2023	−10.6%	+151.4%

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Side by side

AMMO VistaShares Defense Supercycle ETF · Holds 53 stocks in defense, 17% of its weight in S&P 500 companies SHLD Global X Defense Tech ETF · Holds 50 stocks in defense, 53% of its weight in S&P 500 companies

Issuer VistaShares Global X

Theme Defense Defense

In the S&P 500 17.4% 52.8%

Active share vs the S&P 500 98.6% 98.7%

In the Nasdaq-100 4.9% 10.8%

Holdings 53 50

Top ten, share of the fund 33.8% 64.8%

Expense ratio 0.75% 0.50%

Fee for the differing part 0.76% 0.51%

Total return, 1 year −10.6% (since launch, Jul 16, 2026) −8.5%

vs its benchmark not measured not measured

Below its high −23.7% −21.4%

Net assets, AMMO as of Nov 4, 2026 and SHLD as of Oct 12, 2026 $2.4m $6.3bn

As of Nov 4, 2026. Source: ETFIQ.

31% 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.

SHLD

By weight, 53% of SHLD'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 65% of the fund across 50 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned −8.5% with distributions reinvested. It sits 21.4% below its all-time high of Mar 9, 2026.

Questions people ask

Do AMMO and SHLD hold the same stocks?: By their latest filings, 31% 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 SHLD?: AMMO has 17% of its weight in S&P 500 names and SHLD has 53%, so SHLD differs more from the index.
Which is cheaper, AMMO or SHLD?: AMMO charges 0.75% a year and SHLD charges 0.50%, so SHLD is cheaper. Fees come from each fund's prospectus.

Other comparisons

AMMO vs PPA AMMO vs FOWF AMMO vs ARMY AMMO vs TSSD SHLD vs DUTY SHLD vs XDEF SHLD vs WDGF SHLD 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 →SHLD on its own →AMMO holdings →SHLD dividend history →SHLD holdings →Method →Standards and sources →

Sources and dates

AMMO filings on SEC EDGAR ↗

AMMO prospectus with the expense ratio (SEC) ↗

VistaShares page for AMMO ↗

SHLD filings on SEC EDGAR ↗

SHLD prospectus with the expense ratio (SEC) ↗

Global X page for SHLD ↗

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

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