Data as of .
ARMY vs AV: which is really different?
ARMY and AV hold 8% of their weight in the same names.
ETFIQ Off-Index Score: ARMY 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, ARMY and AV hold 8% of their money in the same securities at the same weight.
| Holding | ARMY | AV |
|---|---|---|
| LOCKHEED MARTIN CORP | 1.81% | 4.97% |
| RTX CORP | 1.65% | 9.94% |
| GENERAL DYNAMICS CORP | 1.34% | 5.48% |
| NORTHROP GRUMMAN CORP | 1.12% | 4.50% |
| BOEING CO/THE | 1.09% | 4.00% |
| AIRBUS GROUP SE | 2.43% | 0.87% |
| Only in ARMY | Only in AV |
|---|---|
| ANDURIL SPV EXPOSURE 14.63% | GE AEROSPACE 10.74% |
| ELBIT SYSTEMS LTD 3.88% | Howmet Aerospace Inc 4.63% |
| KONGSBERG GRUPPEN ASA 3.69% | United Parcel Service Inc 4.00% |
| ROCKET LAB CORP 3.67% | Delta Air Lines Inc 3.71% |
| DASSAULT AVIATION SA 3.66% | First American Government Obligations Fund 12/01/2031 3.55% |
| INDRA SISTEMAS SA 3.65% | FedEx Corp 3.53% |
| BAE SYSTEMS PLC 3.58% | TransDigm Group Inc 3.37% |
| QINETIQ GROUP PLC 3.55% | United Airlines Holdings Inc 3.04% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ARMY | AV | ARMY | AV | ARMY | AV | |
| 3 months | −2.2% | −9.0% | −4.4 pts | −11.3 pts | +0.3 pts | −6.5 pts |
| Since launch | −6.1% | −2.4% | −23.8 pts | −6.7 pts | −31.2 pts | −6.2 pts |
| ARMY Tema International Defense ETF Holds 34 stocks in defense, 11% of its weight in S&P 500 companies | AV Corgi Aerospace & Commercial Aviation ETF Holds 40 stocks in defense, 66% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Tema | Corgi |
| Theme | Defense | Defense |
| In the S&P 500 | 11.1% | 66.3% |
| Active share vs the S&P 500 | 98.4% | 97.6% |
| In the Nasdaq-100 | 2.9% | 0.0% |
| Holdings | 34 | 40 |
| Top ten, share of the fund | 47.4% | 55.5% |
| Expense ratio | 0.68% | 0.35% |
| Fee for the differing part | 0.69% | 0.36% |
| Total return, 1 year | −6.1% (since launch on Mar 31, 2026) | −2.4% (since launch on May 6, 2026) |
| vs the S&P 500 | −23.8 pts | −6.7 pts |
| vs the Nasdaq-100 | −31.2 pts | −6.2 pts |
| Below its high | −14.6% | −13.0% |
| Net assets | $7m | $773,395 |
ARMY in plain words
By weight, 11% of ARMY'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 47% of the fund across 34 positions, as published by its issuer for Sep 18, 2026. Since it launched on Mar 31, 2026 the fund returned −6.1% with distributions reinvested against +17.7% for the S&P 500, so a holder was behind by 23.8 pts. It sits 14.6% below its all-time high of Aug 14, 2026.
AV in plain words
By weight, 66% of AV'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 56% of the fund across 40 positions, as published by its issuer for Sep 18, 2026. Since it launched on May 6, 2026 the fund returned −2.4% with distributions reinvested against +4.3% for the S&P 500, so a holder was behind by 6.7 pts. It sits 13.0% below its all-time high of Aug 5, 2026.
Questions people ask
- Do ARMY and AV 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, ARMY or AV?
- ARMY has 11% of its weight in S&P 500 names and AV has 66%, so ARMY differs more from the index.
- Which is cheaper, ARMY or AV?
- ARMY charges 0.68% a year and AV charges 0.35%, so AV 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, ARMY against AV, data as of Sep 18, 2026. https://etfiq.com/compare/themes/army-vs-av Free to use with attribution; the underlying files are at Open data.