Data as of .
ARMY vs XAR: which is really different?
ARMY and XAR hold 14% 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
14% 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 XAR hold 14% of their money in the same securities at the same weight.
| Holding | ARMY | XAR |
|---|---|---|
| ROCKET LAB CORP | 3.67% | 2.97% |
| LOCKHEED MARTIN CORP | 1.81% | 2.95% |
| RTX CORP | 1.65% | 2.85% |
| AIRBUS GROUP SE | 2.43% | 1.46% |
| GENERAL DYNAMICS CORP | 1.34% | 2.90% |
| L3HARRIS TECHNOLOGIES INC | 1.27% | 2.86% |
| LEONARDO DRS INC | 1.16% | 1.22% |
| NORTHROP GRUMMAN CORP | 1.12% | 2.97% |
| BOEING CO/THE | 1.09% | 2.78% |
| AEROVIRONMENT INC | 0.70% | 3.24% |
| Only in ARMY | Only in XAR |
|---|---|
| ANDURIL SPV EXPOSURE 14.63% | HONEYWELL AEROSPACE INC 3.13% |
| ELBIT SYSTEMS LTD 3.88% | FTAI AVIATION LTD 2.98% |
| KONGSBERG GRUPPEN ASA 3.69% | KRATOS DEFENSE + SECURITY 2.94% |
| DASSAULT AVIATION SA 3.66% | CURTISS WRIGHT CORP 2.92% |
| INDRA SISTEMAS SA 3.65% | TEXTRON INC 2.89% |
| BAE SYSTEMS PLC 3.58% | MOOG INC CLASS A 2.88% |
| QINETIQ GROUP PLC 3.55% | HOWMET AEROSPACE INC 2.86% |
| THALES SA 3.54% | HUNTINGTON INGALLS INDUSTRIE 2.82% |
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 | XAR | ARMY | XAR | ARMY | XAR | |
| 3 months | −2.2% | −15.6% | −4.4 pts | −17.9 pts | +0.3 pts | −13.1 pts |
| 6 months | not published | −7.3% | not published | −25.3 pts | not published | −31.5 pts |
| 1 year | not published | +6.0% | not published | −10.6 pts | not published | −15.8 pts |
| 3 years | not published | +110.8% | not published | +32.4 pts | not published | +12.7 pts |
| Since launch | −6.1% | +1014.0% | −23.8 pts | +261.0 pts | −31.2 pts | −408.8 pts |
| ARMY Tema International Defense ETF Holds 34 stocks in defense, 11% of its weight in S&P 500 companies | XAR State Street(R) SPDR(R) S&P(R) Aerospace & Defense ETF Holds 49 stocks in defense, 35% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Tema | State Street |
| Theme | Defense | Defense |
| In the S&P 500 | 11.1% | 34.9% |
| Active share vs the S&P 500 | 98.4% | 97.9% |
| In the Nasdaq-100 | 2.9% | 3.1% |
| Holdings | 34 | 49 |
| Top ten, share of the fund | 47.4% | 30.8% |
| 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) | +6.0% |
| vs the S&P 500 | −23.8 pts | −10.6 pts |
| vs the Nasdaq-100 | −31.2 pts | −15.8 pts |
| Below its high | −14.6% | −19.2% |
| Net assets | $7m | $6.1bn |
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.
XAR in plain words
By weight, 35% 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 31% of the fund across 49 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +6.0% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 10.6 pts. It sits 19.2% below its all-time high of Aug 14, 2026.
Questions people ask
- Do ARMY and XAR hold the same stocks?
- By their latest filings, 14% 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 XAR?
- ARMY has 11% of its weight in S&P 500 names and XAR has 35%, so ARMY differs more from the index.
- Which is cheaper, ARMY or XAR?
- ARMY charges 0.68% a year and XAR charges 0.35%, so XAR 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 XAR, data as of Sep 18, 2026. https://etfiq.com/compare/themes/army-vs-xar Free to use with attribution; the underlying files are at Open data.