Do ARMY and WDAF hold the same stocks?

By their latest filings, 3% 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 WDAF?

ARMY has 12% of its weight in S&P 500 names and WDAF has 0%, so WDAF differs more from the index.

Which is cheaper, ARMY or WDAF?

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

Data as of Nov 4, 2026.

Thematic ETFs

ARMY vs WDAF: Holdings Overlap & Returns

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ARMY and WDAF hold 3% of their weight in the same names.

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Net assets: $13m on Nov 3, 2026 for Tema International Defense ETF, and $22m on Jun 30, 2026 for WisdomTree Asia Defense Fund.

ARMY on its own →WDAF 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.

WDAF · 1 year to Nov 4, 2026 100% of its weight is outside the S&P 500

0% of WDAF's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

WDAF costs 0.23 points a year less.

ARMY vs WDAF: Holdings Overlap & Returns
Measure	ARMY	WDAF
Return
Measure	ARMY	WDAF
Total return, 1 year	not published	−16.2%
Drawdown
Measure	ARMY	WDAF
Below its all-time high	16.5%, high on Aug 14, 2026	31.8%, high on May 5, 2026
Benchmark
Measure	ARMY	WDAF
What it tracks	Defense	Defense
Cost and size
Measure	ARMY	WDAF
Expense ratio	0.68%	0.45%
Net assets, ARMY as of Nov 3, 2026 and WDAF as of Jun 30, 2026	$13m	$22m
Holdings
Measure	ARMY	WDAF
Holdings in common	3%

Method

What they share

By the books each fund has filed, ARMY and WDAF hold 3% 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

3% in common

Positions both hold · largest shared weight first ARMY WDAF

DRONESHIELD LTD 2.64% 1.51%

ELECTRO OPTIC SYSTEMS HOLDINGS LTD 2.75% 1.44%

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 WDAF

HINDUSTAN AERONAUTICS LTD 8.00%

BHARAT ELECTRONICS LTD 7.82%

KOREA AEROSPACE INDUSTRIES LTD 7.69%

HANWHA AEROSPACE CO LTD 7.31%

LIG DEFENSE & AEROSPACE CO LTD 7.00%

HYUNDAI ROTEM COMPANY 6.84%

IHI CORP 4.57%

KAWASAKI HEAVY INDUSTRIES LTD 4.22%

Check overlap with more funds →

Window by window

Window by window: ARMY vs WDAF: Holdings Overlap & Returns
	Total return
Window	ARMY	WDAF
3 months	−13.9%	−16.4%
6 months	−9.5%	−31.3%
1 year	–	−16.2%
Since launch	–	−16.0%

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Side by side

ARMY Tema International Defense ETF · Holds 36 stocks in defense, 12% of its weight in S&P 500 companies WDAF WisdomTree Asia Defense Fund · Holds 61 stocks in defense, 0% of its weight in S&P 500 companies

Issuer Tema WisdomTree

Theme Defense Defense

In the S&P 500 11.5% 0.0%

Active share vs the S&P 500 98.4% 100.0%

In the Nasdaq-100 5.8% 0.0%

Holdings 36 61

Top ten, share of the fund 41.8% 61.6%

Expense ratio 0.68% 0.45%

Fee for the differing part 0.69% 0.45%

Total return, 1 year not available −16.2%

vs its benchmark not available not measured

Below its high −16.5% −31.8%

Net assets, ARMY as of Nov 3, 2026 and WDAF as of Jun 30, 2026 $13m $22m

As of Nov 4, 2026. Source: ETFIQ.

3% of the two portfolios are the same securities at the same weight.

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.

WDAF

By weight, 0% of WDAF'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 62% of the fund across 61 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned −16.2% with distributions reinvested. It sits 31.8% below its all-time high of May 5, 2026.

Questions people ask

Do ARMY and WDAF hold the same stocks?: By their latest filings, 3% 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 WDAF?: ARMY has 12% of its weight in S&P 500 names and WDAF has 0%, so WDAF differs more from the index.
Which is cheaper, ARMY or WDAF?: ARMY charges 0.68% a year and WDAF charges 0.45%, so WDAF is cheaper. Fees come from each fund's prospectus.

Other comparisons

ARMY vs AV ARMY vs IDEF ARMY vs XAR ARMY vs SHLD WDAF vs WDGF WDAF vs WDEF WDAF vs WR WDAF vs EUAD

Where to next

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

Sources and dates

ARMY filings on SEC EDGAR ↗

ARMY prospectus with the expense ratio (SEC) ↗

Tema page for ARMY ↗

WDAF filings on SEC EDGAR ↗

WDAF prospectus with the expense ratio (SEC) ↗

WisdomTree page for WDAF ↗

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.

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ETFIQ, ARMY against WDAF, data as of Nov 4, 2026. https://etfiq.com/compare/themes/army-vs-wdaf

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