Data as of .
AMMO vs WDEF: which is really different?
AMMO and WDEF hold 23% of their weight in the same names.
ETFIQ Off-Index Score: WDEF 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
23% 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 WDEF hold 23% of their money in the same securities at the same weight.
| Holding | AMMO | WDEF |
|---|---|---|
| Rheinmetall AG | 3.76% | 8.70% |
| Hensoldt AG | 2.36% | 4.13% |
| RENK Group AG | 2.18% | 2.51% |
| Rolls-Royce Holdings PLC | 2.09% | 5.57% |
| Saab AB | 1.99% | 4.83% |
| Kongsberg Gruppen ASA | 1.98% | 4.61% |
| Indra Sistemas SA | 1.70% | 2.98% |
| Theon International PLC | 2.35% | 1.27% |
| CSG NV | 1.50% | 1.25% |
| Safran SA | 1.05% | 5.62% |
| Chemring Group PLC | 2.76% | 0.88% |
| Exail Technologies SA | 0.81% | 1.34% |
| Only in AMMO | Only in WDEF |
|---|---|
| LIG Defense&Aerospace Co Ltd 4.80% | BAE SYSTEMS PLC 10.21% |
| Palantir Technologies Inc 3.17% | THALES SA 10.14% |
| MP Materials Corp 3.05% | AIRBUS SE 5.34% |
| L3Harris Technologies Inc 2.51% | LEONARDO SPA 4.79% |
| TTM Technologies Inc 2.49% | DASSAULT AVIATION SA 4.14% |
| AeroVironment Inc 2.47% | BABCOCK INTERNATIONAL GROUP PLC 3.10% |
| Elbit Systems Ltd 2.43% | TKMS AG & CO. KGAA 2.96% |
| TransDigm Group Inc 2.20% | MELROSE INDUSTRIES PLC 2.54% |
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 | WDEF | AMMO | WDEF | AMMO | WDEF | |
| 3 months | not published | +2.9% | not published | +0.7 pts | not published | +5.4 pts |
| 6 months | not published | −6.0% | not published | −24.1 pts | not published | −30.3 pts |
| 1 year | not published | −7.6% | not published | −24.1 pts | not published | −29.4 pts |
| Since launch | +0.9% | −2.7% | −0.8 pts | −25.7 pts | −1.3 pts | −31.8 pts |
| AMMO VistaShares Defense Supercycle ETF Holds 52 stocks in defense, 13% of its weight in S&P 500 companies | WDEF WisdomTree Europe Defense Fund Holds 42 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 | 42 |
| Top ten, share of the fund | 32.6% | 63.9% |
| 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) | −7.6% |
| vs the S&P 500 | −0.8 pts | −24.1 pts |
| vs the Nasdaq-100 | −1.3 pts | −29.4 pts |
| Below its high | −14.0% | −15.7% |
| Net assets | $3m | $83m |
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.
WDEF in plain words
By weight, 0% of WDEF'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 64% of the fund across 42 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −7.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 24.1 pts. It sits 15.7% below its all-time high of Jan 27, 2026.
Questions people ask
- Do AMMO and WDEF hold the same stocks?
- By their latest filings, 23% 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 WDEF?
- AMMO has 13% of its weight in S&P 500 names and WDEF has 0%, so WDEF differs more from the index.
- Which is cheaper, AMMO or WDEF?
- AMMO charges 0.75% a year and WDEF charges 0.45%, so WDEF 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 WDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ammo-vs-wdef Free to use with attribution; the underlying files are at Open data.