Do ARMY and DUTY hold the same stocks?

By their latest filings, 13% 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, ARMY or DUTY?

ARMY has 12% of its weight in S&P 500 names and DUTY has 62%, so ARMY differs more from the index.

Which is cheaper, ARMY or DUTY?

ARMY charges 0.68% a year and DUTY charges 0.45%, so DUTY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

ARMY vs DUTY: Holdings Overlap & Returns

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ARMY and DUTY hold 13% of their weight in the same names.

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Net assets: $13m on Nov 3, 2026 for Tema International Defense ETF, and $2.1m on Jun 30, 2026 for U.S. Defense ETF.

ARMY on its own →DUTY on its own →

At a glance

ARMY · 6 months to Nov 4, 2026 89% of its weight is outside the S&P 500

12% of ARMY's weight is in S&P 500 companies and 89% is outside the index. Holdings as of Nov 3, 2026.

DUTY · 6 months to Nov 4, 2026 38% of its weight is outside the S&P 500

62% of DUTY's weight is in S&P 500 companies and 38% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

DUTY costs 0.23 points a year less.

ARMY vs DUTY: Holdings Overlap & Returns
Measure	ARMY	DUTY
Drawdown
Measure	ARMY	DUTY
Below its all-time high	16.5%, high on Aug 14, 2026	9.0%, high on Aug 13, 2026
Benchmark
Measure	ARMY	DUTY
What it tracks	Defense	Defense
Cost and size
Measure	ARMY	DUTY
Expense ratio	0.68%	0.45%
Net assets, ARMY as of Nov 3, 2026 and DUTY as of Jun 30, 2026	$13m	$2.1m
Holdings
Measure	ARMY	DUTY
Holdings in common	13%

Method

Risk and return

Apr 17, 2026 to Oct 30, 2026 · 28 weekly returns

ARMY DUTY

Return

Total return edge DUTY −11.9% +14.8%

Price return edge DUTY −11.9% +14.8%

Risk

Max drawdown edge DUTY −18.8% −12.0%

Reading

From Apr 2026 to Oct 2026, DUTY returned more: +14.8% to −11.9%. DUTY fell less at its worst: −12.0% to −18.8%.

Full scorecard

3 measures, with how each is measured Open ↓

Risk and return: ARMY vs DUTY: Holdings Overlap & Returns
Measure	ARMY	DUTY	Edge	How it is measured
Return
Total return	−11.9%	+14.8%	DUTY	Price change plus distributions, reinvested.
Price return	−11.9%	+14.8%	DUTY	Price change alone, distributions left out.
Risk
Max drawdown	−18.8%	−12.0%	DUTY	Deepest fall from a high to the low after it.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 28 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

13%

By the books each fund has filed, ARMY and DUTY hold 13% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

13% in common

Positions both hold · largest shared weight first ARMY DUTY

ROCKET LAB CORP 3.03% 5.34%

PALANTIR TECHNOLOGIES INC 2.82% 5.96%

LOCKHEED MARTIN CORP 2.05% 7.32%

GENERAL DYNAMICS CORP 1.42% 7.55%

L3HARRIS TECHNOLOGIES INC 1.35% 6.83%

NORTHROP GRUMMAN CORP 1.13% 6.60%

LEONARDO DRS INC 1.13% 0.53%

AEROVIRONMENT INC 0.50% 1.03%

Only in one fund ↓

Only in ARMY

ANDURIL SPV EXPOSURE 7.99%

KONGSBERG GRUPPEN ASA 4.17%

QINETIQ GROUP PLC 3.91%

DASSAULT AVIATION SA 3.86%

ELBIT SYSTEMS LTD 3.83%

SAAB AB 3.71%

CHEMRING GROUP PLC 3.68%

BAE SYSTEMS PLC 3.60%

Only in DUTY

Palo Alto Networks Inc 5.20%

Fortinet Inc 4.91%

Crowdstrike Holdings Inc 4.63%

Okta Inc 4.61%

Teledyne Technologies Inc 4.34%

Akamai Technologies Inc 3.14%

Check Point Software Technolog 2.88%

Leidos Holdings Inc 2.73%

Check overlap with more funds →

Window by window

Window by window: ARMY vs DUTY: Holdings Overlap & Returns
	Total return
Window	ARMY	DUTY
3 months	−13.9%	−2.5%
6 months	−9.5%	+13.4%
Since launch	–	+7.2%

– means no data for this window. Open this comparison in the app →

Side by side

ARMY Tema International Defense ETF · Holds 36 stocks in defense, 12% of its weight in S&P 500 companies DUTY U.S. Defense ETF · Holds 50 stocks in defense, 62% of its weight in S&P 500 companies

Issuer Tema Aura

Theme Defense Defense

In the S&P 500 11.5% 61.7%

Active share vs the S&P 500 98.4% 98.1%

In the Nasdaq-100 5.8% 26.0%

Holdings 36 50

Top ten, share of the fund 41.8% 59.0%

Expense ratio 0.68% 0.45%

Fee for the differing part 0.69% 0.46%

Total return, 1 year not available +7.2% (since launch, Apr 8, 2026)

vs its benchmark not available not measured

Below its high −16.5% −9.0%

Net assets, ARMY as of Nov 3, 2026 and DUTY as of Jun 30, 2026 $13m $2.1m

As of Nov 4, 2026. Source: ETFIQ.

13% of the two portfolios are the same securities at the same weight.

Client brief

No client brief for this pair: ETFIQ prints no one-year total return for ARMY or DUTY; the two funds' holdings are dated 126 days apart.

Alert

About each fund

ARMY

By weight, 12% 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 42% of the fund across 36 positions, as published by its issuer for Nov 3, 2026. It sits 16.5% below its all-time high of Aug 14, 2026.

DUTY

By weight, 62% of DUTY'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 59% of the fund across 50 positions, as filed for Jun 30, 2026. Since it first traded on Apr 8, 2026 the fund returned +7.2% with distributions reinvested. It sits 9.0% below its all-time high of Aug 13, 2026.

Questions people ask

Do ARMY and DUTY hold the same stocks?: By their latest filings, 13% 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, ARMY or DUTY?: ARMY has 12% of its weight in S&P 500 names and DUTY has 62%, so ARMY differs more from the index.
Which is cheaper, ARMY or DUTY?: ARMY charges 0.68% a year and DUTY charges 0.45%, so DUTY is cheaper. Fees come from each fund's prospectus.

Other comparisons

ARMY vs AV ARMY vs NATO ARMY vs KDEF ARMY vs MISL DUTY vs FOWF DUTY vs WDAF DUTY vs WAR DUTY vs GCAD

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →ARMY on its own →DUTY on its own →ARMY holdings →DUTY holdings →Method →Standards and sources →

Sources and dates

ARMY filings on SEC EDGAR ↗

ARMY prospectus with the expense ratio (SEC) ↗

Tema page for ARMY ↗

DUTY filings on SEC EDGAR ↗

DUTY prospectus with the expense ratio (SEC) ↗

Aura 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, ARMY against DUTY, data as of Nov 4, 2026. https://etfiq.com/compare/themes/army-vs-duty

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