Data as of .
ARMY vs WDEF: which is really different?
ARMY and WDEF hold 53% of their weight in the same names.
ETFIQ Off-Index Score: WDEF 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
53% 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 WDEF hold 53% of their money in the same securities at the same weight.
| Holding | ARMY | WDEF |
|---|---|---|
| KONGSBERG GRUPPEN ASA | 3.69% | 4.61% |
| DASSAULT AVIATION SA | 3.66% | 4.14% |
| BAE SYSTEMS PLC | 3.58% | 10.21% |
| THALES SA | 3.54% | 10.14% |
| LEONARDO-FINMECCANICA SPA | 3.53% | 4.79% |
| ROLLS-ROYCE HOLDINGS PLC | 3.43% | 5.57% |
| SAAB AB | 3.40% | 4.83% |
| HENSOLDT AG | 3.32% | 4.13% |
| SAFRAN SA | 3.15% | 5.62% |
| BABCOCK INTERNATIONAL GROUP PLC | 3.27% | 3.10% |
| INDRA SISTEMAS SA | 3.65% | 2.98% |
| TKMS AG & CO KGAA | 2.83% | 2.96% |
| Only in ARMY | Only in WDEF |
|---|---|
| ANDURIL SPV EXPOSURE 14.63% | MELROSE INDUSTRIES PLC 2.54% |
| ELBIT SYSTEMS LTD 3.88% | EXOSENS SA 1.70% |
| ROCKET LAB CORP 3.67% | EXAIL TECHNOLOGIES SA 1.34% |
| MTU AERO ENGINES AG 3.15% | FINCANTIERI SPA 1.30% |
| PALANTIR TECHNOLOGIES INC 2.86% | THEON INTERNATIONAL PLC 1.27% |
| LOCKHEED MARTIN CORP 1.81% | SERCO GROUP PLC 0.94% |
| RTX CORP 1.65% | OHB SE 0.78% |
| GENERAL DYNAMICS CORP 1.34% | EUTELSAT COMMUNICATIONS SA 0.67% |
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 Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ARMY | WDEF | ARMY | WDEF | ARMY | WDEF | |
| 3 months | −2.2% | +2.9% | −4.4 pts | +0.7 pts | +0.3 pts | +5.4 pts |
| 6 months | not published | −6.0% | not published | −24.1 pts | not published | −30.3 pts |
| 1 year | not published | −7.6% | not published | −24.1 pts | not published | −29.4 pts |
| Since launch | −6.1% | −2.7% | −23.8 pts | −25.7 pts | −31.2 pts | −31.8 pts |
| ARMY Tema International Defense ETF Holds 34 stocks in defense, 11% of its weight in S&P 500 companies | WDEF WisdomTree Europe Defense Fund Holds 42 stocks in defense, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Tema | WisdomTree |
| Theme | Defense | Defense |
| In the S&P 500 | 11.1% | 0.0% |
| Active share vs the S&P 500 | 98.4% | 100.0% |
| In the Nasdaq-100 | 2.9% | 0.0% |
| Holdings | 34 | 42 |
| Top ten, share of the fund | 47.4% | 63.9% |
| Expense ratio | 0.68% | 0.45% |
| Fee for the differing part | 0.69% | 0.45% |
| Total return, 1 year | −6.1% (since launch on Mar 31, 2026) | −7.6% |
| vs the S&P 500 | −23.8 pts | −24.1 pts |
| vs the Nasdaq-100 | −31.2 pts | −29.4 pts |
| Below its high | −14.6% | −15.7% |
| Net assets | $7m | $83m |
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.
WDEF in plain words
By weight, 0% of WDEF'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 64% of the fund across 42 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −7.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 24.1 pts. It sits 15.7% below its all-time high of Jan 27, 2026.
Questions people ask
- Do ARMY and WDEF hold the same stocks?
- By their latest filings, 53% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, ARMY or WDEF?
- ARMY has 11% of its weight in S&P 500 names and WDEF has 0%, so WDEF differs more from the index.
- Which is cheaper, ARMY or WDEF?
- ARMY charges 0.68% a year and WDEF charges 0.45%, so WDEF 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 WDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/army-vs-wdef Free to use with attribution; the underlying files are at Open data.