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Data as of Nov 4, 2026.

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Thematic ETFs

AMMO vs WDAF: Holdings Overlap & Returns

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AMMO and WDAF hold 6% 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 $22m on Jun 30, 2026 for WisdomTree Asia Defense Fund.

AMMO on its own →WDAF on its own →
At a glance
17.4%
AMMO in the S&P 500
0.0%
WDAF in the S&P 500
−10.6%
AMMO total return, since launch, Jul 16, 2026
−16.2%
WDAF total return, 1 year
AMMO · 3 months to Nov 4, 2026 83% of its weight is outside the S&P 500
83% of its weight is outside the S&P 50017% of AMMO's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Nov 4, 2026.17%83%in the S&P 500of its weight outside the S&P 500active share 99% · top ten 34% of the fund · 53 holdings as published by its issuer for Nov 4, 2026 · Nasdaq-100: 5% in83% of its weight is outside the S&P 50017% of AMMO's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Nov 4, 2026.17%83%inof its weight outside the S&P 500active share 99% · Nasdaq-100: 5% in

17% of AMMO's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Nov 4, 2026.

WDAF · 1 year to Nov 4, 2026 100% of its weight is outside the S&P 500
100% of its weight is outside the S&P 5000% of WDAF's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jun 30, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · top ten 62% of the fund · 61 holdings as filed for Jun 30, 2026 · Nasdaq-100: 0% in100% of its weight is outside the S&P 5000% of WDAF's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jun 30, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · Nasdaq-100: 0% in

0% of WDAF's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

WDAF costs 0.30 points a year less.

AMMO vs WDAF: Holdings Overlap & Returns
MeasureAMMOWDAF
Return
Total return, 1 yearnot published−16.2%
Drawdown
Below its all-time high23.7%, high on Aug 14, 202631.8%, high on May 5, 2026
Benchmark
What it tracksDefenseDefense
Cost and size
Expense ratio0.75%0.45%
Net assets, AMMO as of Nov 4, 2026 and WDAF as of Jun 30, 2026$2.4m$22m
Holdings
Holdings in common6%

Method

What they share

6%

By the books each fund has filed, AMMO and WDAF hold 6% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

0 half 100%

half

6% in common

Positions both hold · largest shared weight first AMMO WDAF
LIG Defense&Aerospace Co Ltd 3.12% 7.00%
Hanwha Systems Co Ltd 1.33% 3.66%
Electro Optic Systems Holdings Ltd 1.03% 1.44%
Poongsan Corp 0.70% 0.42%
Only in one fund ↓
Only in AMMO
Mildef Group AB 4.50%
Rheinmetall AG 4.09%
Kitron ASA 3.66%
Palantir Technologies Inc 3.42%
Cohort PLC 3.37%
Chemring Group PLC 3.20%
L3Harris Technologies Inc 2.94%
TransDigm Group Inc 2.76%
Only in WDAF
HINDUSTAN AERONAUTICS LTD 8.00%
BHARAT ELECTRONICS LTD 7.82%
KOREA AEROSPACE INDUSTRIES LTD 7.69%
HANWHA AEROSPACE CO LTD 7.31%
HYUNDAI ROTEM COMPANY 6.84%
IHI CORP 4.57%
KAWASAKI HEAVY INDUSTRIES LTD 4.22%
MITSUBISHI HEAVY INDUSTRIES LTD 4.17%
Check overlap with more funds →

Window by window

Window by window: AMMO vs WDAF: Holdings Overlap & Returns
Total return
WindowAMMOWDAF
3 months−19.6%−16.4%
6 months–−31.3%
1 year–−16.2%
Since launchNot the same days: AMMO Jul 2026 · WDAF Sep 2025−10.6%−16.0%

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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 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 17.4% 0.0%
Active share vs the S&P 500 98.6% 100.0%
In the Nasdaq-100 4.9% 0.0%
Holdings 53 61
Top ten, share of the fund 33.8% 61.6%
Expense ratio 0.75% 0.45%
Fee for the differing part 0.76% 0.45%
Total return, 1 year −10.6% (since launch, Jul 16, 2026) −16.2%
vs its benchmark not measured not measured
Below its high −23.7% −31.8%
Net assets, AMMO as of Nov 4, 2026 and WDAF as of Jun 30, 2026 $2.4m $22m

As of Nov 4, 2026. Source: ETFIQ.

6% of the two portfolios are the same securities at the same weight.

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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.

WDAF

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 Nov 4, 2026 the fund returned −16.2% with distributions reinvested. It sits 31.8% below its all-time high of May 5, 2026.

Questions people ask

Do AMMO and WDAF hold the same stocks?
By their latest filings, 6% 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 WDAF?
AMMO has 17% 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
AMMO vs AVAMMO vs IDEFAMMO vs XARAMMO vs SHLDWDAF vs XDEFWDAF vs WDGFWDAF vs WRWDAF vs WDEF
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AMMO on its own →WDAF on its own →AMMO holdings →WDAF dividend history →WDAF holdings →Method →Standards and sources →
Sources and dates
AMMO filings on SEC EDGAR ↗
AMMO prospectus with the expense ratio (SEC) ↗
VistaShares page for AMMO ↗
WDAF filings on SEC EDGAR ↗
WDAF prospectus with the expense ratio (SEC) ↗
WisdomTree page for WDAF ↗

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.

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

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