Data as of .
AMMO vs XAR: which is really different?
AMMO and XAR hold 27% 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
27% 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 XAR hold 27% of their money in the same securities at the same weight.
| Holding | AMMO | XAR |
|---|---|---|
| L3Harris Technologies Inc | 2.51% | 2.86% |
| AeroVironment Inc | 2.47% | 3.24% |
| TransDigm Group Inc | 2.20% | 2.80% |
| Kratos Defense & Security Solutions Inc | 2.16% | 2.94% |
| Woodward Inc | 2.09% | 2.76% |
| Moog Inc | 2.07% | 2.88% |
| Curtiss-Wright Corp | 1.84% | 2.92% |
| Carpenter Technology Corp | 1.66% | 2.58% |
| Mercury Systems Inc | 1.66% | 2.21% |
| Rocket Lab Corp | 1.62% | 2.97% |
| BWX Technologies Inc | 1.56% | 2.73% |
| Ducommun Inc | 2.16% | 1.21% |
| Only in AMMO | Only in XAR |
|---|---|
| LIG Defense&Aerospace Co Ltd 4.80% | HONEYWELL AEROSPACE INC 3.13% |
| Mildef Group AB 3.78% | FTAI AVIATION LTD 2.98% |
| Rheinmetall AG 3.76% | NORTHROP GRUMMAN CORP 2.97% |
| Kitron ASA 3.50% | LOCKHEED MARTIN CORP 2.95% |
| Palantir Technologies Inc 3.17% | GENERAL DYNAMICS CORP 2.90% |
| MP Materials Corp 3.05% | TEXTRON INC 2.89% |
| Chemring Group PLC 2.76% | RTX CORP 2.85% |
| Cohort PLC 2.76% | HUNTINGTON INGALLS INDUSTRIE 2.82% |
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 | XAR | AMMO | XAR | AMMO | XAR | |
| 3 months | not published | −15.6% | not published | −17.9 pts | not published | −13.1 pts |
| 6 months | not published | −7.3% | not published | −25.3 pts | not published | −31.5 pts |
| 1 year | not published | +6.0% | not published | −10.6 pts | not published | −15.8 pts |
| 3 years | not published | +110.8% | not published | +32.4 pts | not published | +12.7 pts |
| Since launch | +0.9% | +1014.0% | −0.8 pts | +261.0 pts | −1.3 pts | −408.8 pts |
| AMMO VistaShares Defense Supercycle ETF Holds 52 stocks in defense, 13% of its weight in S&P 500 companies | XAR State Street(R) SPDR(R) S&P(R) Aerospace & Defense ETF Holds 49 stocks in defense, 35% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | VistaShares | State Street |
| Theme | Defense | Defense |
| In the S&P 500 | 12.6% | 34.9% |
| Active share vs the S&P 500 | 99.1% | 97.9% |
| In the Nasdaq-100 | 3.2% | 3.1% |
| Holdings | 52 | 49 |
| Top ten, share of the fund | 32.6% | 30.8% |
| Expense ratio | 0.75% | 0.35% |
| Fee for the differing part | 0.76% | 0.36% |
| Total return, 1 year | +0.9% (since launch on Jul 16, 2026) | +6.0% |
| vs the S&P 500 | −0.8 pts | −10.6 pts |
| vs the Nasdaq-100 | −1.3 pts | −15.8 pts |
| Below its high | −14.0% | −19.2% |
| Net assets | $3m | $6.1bn |
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.
XAR in plain words
By weight, 35% of XAR'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 31% of the fund across 49 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +6.0% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 10.6 pts. It sits 19.2% below its all-time high of Aug 14, 2026.
Questions people ask
- Do AMMO and XAR hold the same stocks?
- By their latest filings, 27% 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 XAR?
- AMMO has 13% of its weight in S&P 500 names and XAR has 35%, so AMMO differs more from the index.
- Which is cheaper, AMMO or XAR?
- AMMO charges 0.75% a year and XAR charges 0.35%, so XAR 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 XAR, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ammo-vs-xar Free to use with attribution; the underlying files are at Open data.