Data as of .
AMMO vs WDAF: which is really different?
AMMO and WDAF hold 8% of their weight in the same names.
ETFIQ Off-Index Score: WDAF 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
8% 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 WDAF hold 8% of their money in the same securities at the same weight.
| Holding | AMMO | WDAF |
|---|---|---|
| LIG Defense&Aerospace Co Ltd | 4.80% | 7.01% |
| Hanwha Systems Co Ltd | 1.48% | 3.66% |
| Poongsan Corp | 2.12% | 0.42% |
| Only in AMMO | Only in WDAF |
|---|---|
| Mildef Group AB 3.78% | HINDUSTAN AERONAUTICS LTD 8.01% |
| Rheinmetall AG 3.76% | BHARAT ELECTRONICS LTD 7.82% |
| Kitron ASA 3.50% | KOREA AEROSPACE INDUSTRIES LTD 7.70% |
| Palantir Technologies Inc 3.17% | HANWHA AEROSPACE CO LTD 7.32% |
| MP Materials Corp 3.05% | HYUNDAI ROTEM COMPANY 6.84% |
| Chemring Group PLC 2.76% | IHI CORP 4.58% |
| Cohort PLC 2.76% | KAWASAKI HEAVY INDUSTRIES LTD 4.22% |
| L3Harris Technologies Inc 2.51% | MITSUBISHI HEAVY INDUSTRIES LTD 4.17% |
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 Jun 30, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| AMMO | WDAF | AMMO | WDAF | AMMO | WDAF | |
| 3 months | not published | −8.2% | not published | −10.5 pts | not published | −5.8 pts |
| 6 months | not published | −4.9% | not published | −22.9 pts | not published | −29.1 pts |
| 1 year | not published | −1.4% | not published | −17.9 pts | not published | −23.1 pts |
| Since launch | +0.9% | −0.1% | −0.8 pts | −17.5 pts | −1.3 pts | −23.7 pts |
| AMMO VistaShares Defense Supercycle ETF Holds 52 stocks in defense, 13% of its weight in S&P 500 companies | WDAF WisdomTree Asia Defense Fund Holds 61 stocks in defense, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VistaShares | WisdomTree |
| Theme | Defense | Defense |
| In the S&P 500 | 12.6% | 0.0% |
| Active share vs the S&P 500 | 99.1% | 100.0% |
| In the Nasdaq-100 | 3.2% | 0.0% |
| Holdings | 52 | 61 |
| Top ten, share of the fund | 32.6% | 61.6% |
| Expense ratio | 0.75% | 0.45% |
| Fee for the differing part | 0.76% | 0.45% |
| Total return, 1 year | +0.9% (since launch on Jul 16, 2026) | −1.4% |
| vs the S&P 500 | −0.8 pts | −17.9 pts |
| vs the Nasdaq-100 | −1.3 pts | −23.1 pts |
| Below its high | −14.0% | −18.8% |
| Net assets | $3m | $12m |
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.
WDAF in plain words
By weight, 0% of WDAF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 61 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −1.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 17.9 pts. It sits 18.8% below its all-time high of May 5, 2026.
Questions people ask
- Do AMMO and WDAF hold the same stocks?
- By their latest filings, 8% 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 WDAF?
- AMMO has 13% of its weight in S&P 500 names and WDAF has 0%, so WDAF differs more from the index.
- Which is cheaper, AMMO or WDAF?
- AMMO charges 0.75% a year and WDAF charges 0.45%, so WDAF 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 WDAF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ammo-vs-wdaf Free to use with attribution; the underlying files are at Open data.