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Data as of Nov 4, 2026.

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Thematic ETFs

AMMO vs XAR: Holdings Overlap & Returns

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AMMO and XAR hold 27% 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 $5.3bn on Nov 3, 2026 for State Street SPDR S&P Aerospace & Defense ETF.

AMMO on its own →XAR on its own →
At a glance
17.4%
AMMO in the S&P 500
40.1%
XAR in the S&P 500
−10.6%
AMMO total return, since launch, Jul 16, 2026
−6.6%
XAR 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.

XAR · 1 year to Nov 4, 2026 60% of its weight is outside the S&P 500
60% of its weight is outside the S&P 50040% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Nov 3, 2026.40%60%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 33% of the fund · 50 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 8% in60% of its weight is outside the S&P 50040% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Nov 3, 2026.40%60%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 8% in

40% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

XAR costs 0.40 points a year less; XAR is far larger, $5.3bn against $2.5m.

Points (pts) are percentage points.

AMMO vs XAR: Holdings Overlap & Returns
MeasureAMMOXAR
Return
Total return, 1 yearnot published−6.6%
Drawdown
Below its all-time high23.7%, high on Aug 14, 202624.0%, high on Aug 14, 2026
Against its benchmark
What it tracksDefenseDefense
Against the S&P 500, 1 yearbehind by 21.4 pts
Its benchmark, total return, 1 year+14.8%
Against its benchmark, 1 yearbehind by 21.4 pts
Cost and size
Expense ratio0.75%0.35%
Net assets, as of Nov 3, 2026$2.5m$5.3bn
Holdings
Holdings in common27%

Method

What they share

27%

By the books each fund has filed, AMMO and XAR hold 27% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

0 half 100%

half

27% in common

Positions both hold · largest shared weight first AMMO XAR
L3Harris Technologies Inc 2.94% 3.30%
TransDigm Group Inc 2.76% 3.19%
Woodward Inc 2.37% 2.93%
Moog Inc 2.07% 2.93%
AeroVironment Inc 1.95% 2.56%
Kratos Defense & Security Solutions Inc 1.82% 2.61%
Curtiss-Wright Corp 1.64% 2.62%
RTX Corp 1.59% 3.07%
Rocket Lab Corp 1.47% 2.57%
BWX Technologies Inc 1.43% 2.50%
Mercury Systems Inc 1.33% 2.13%
Carpenter Technology Corp 1.32% 1.93%
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%
LIG Defense&Aerospace Co Ltd 3.12%
Hensoldt AG 2.69%
Only in XAR
LOCKHEED MARTIN CORP 3.63%
HUNTINGTON INGALLS INDUSTRIE 3.36%
TEXTRON INC 3.27%
FTAI AVIATION LTD 3.23%
HEICO CORP 3.22%
NORTHROP GRUMMAN CORP 3.18%
GENERAL DYNAMICS CORP 3.16%
HONEYWELL AEROSPACE INC 3.09%
Check overlap with more funds →

Window by window

Window by window: AMMO vs XAR: Holdings Overlap & Returns
Total returnvs its benchmark
WindowAMMOXARAMMOXAR
3 months−19.6%−20.0%not measured−19.9 pts vs VOO
6 months–−15.6%–−20.6 pts vs VOO
1 year–−6.6%–−21.4 pts vs VOO
3 years–+89.1%–+5.8 pts vs VOO
Since launchNot the same days: AMMO Jul 2026 · XAR Sep 2011−10.6%+948.0%not measured+180.8 pts vs VOO

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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 XAR State Street SPDR S&P Aerospace & Defense ETF · Holds 50 stocks in defense, 40% of its weight in S&P 500 companies
Issuer VistaShares State Street
Theme Defense Defense
In the S&P 500 17.4% 40.1%
Active share vs the S&P 500 98.6% 97.7%
In the Nasdaq-100 4.9% 8.2%
Holdings 53 50
Top ten, share of the fund 33.8% 32.6%
Expense ratio 0.75% 0.35%
Fee for the differing part 0.76% 0.36%
Total return, 1 year −10.6% (since launch, Jul 16, 2026) −6.6%
vs its benchmark not measured −21.4 pts vs VOO
Below its high −23.7% −24.0%
Net assets, AMMO as of Nov 4, 2026 and XAR as of Nov 3, 2026 $2.4m $5.3bn

As of Nov 4, 2026. Source: ETFIQ.

27% 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.

XAR

By weight, 40% 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 33% of the fund across 50 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −6.6% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 21.4 pts. It sits 24.0% 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. 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 17% of its weight in S&P 500 names and XAR has 40%, 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
AMMO vs SHLDAMMO vs IDEFAMMO vs PPAAMMO vs ITAXAR vs DUTYXAR vs XDEFXAR vs AVXAR vs ARMY
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AMMO on its own →XAR on its own →AMMO holdings →XAR dividend history →XAR holdings →Method →Standards and sources →
Sources and dates
AMMO filings on SEC EDGAR ↗
AMMO prospectus with the expense ratio (SEC) ↗
VistaShares page for AMMO ↗
XAR filings on SEC EDGAR ↗
XAR prospectus with the expense ratio (SEC) ↗
State Street website ↗

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

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