Data as of .
AV vs GCAD: which is really different?
AV and GCAD hold 38% of their weight in the same names.
ETFIQ Off-Index Score: AV 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
38% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, AV and GCAD hold 38% of their money in the same securities at the same weight.
| Holding | AV | GCAD |
|---|---|---|
| RTX Corp | 9.94% | 4.14% |
| Boeing Co/The | 4.00% | 5.20% |
| Lockheed Martin Corp | 4.97% | 3.98% |
| Northrop Grumman Corp | 4.50% | 3.48% |
| Howmet Aerospace Inc | 4.63% | 2.61% |
| General Dynamics Corp | 5.48% | 2.40% |
| ATI Inc | 2.53% | 2.29% |
| TransDigm Group Inc | 3.37% | 2.04% |
| Woodward Inc | 2.00% | 2.10% |
| Textron Inc | 1.61% | 3.87% |
| GE AEROSPACE | 10.74% | 1.55% |
| Moog Inc | 1.41% | 6.20% |
| Only in AV | Only in GCAD |
|---|---|
| United Parcel Service Inc 4.00% | ALBANY INTERNATIONAL CORP 6.84% |
| Delta Air Lines Inc 3.71% | L3HARRIS TECHNOLOGIES INC 4.01% |
| First American Government Obligations Fund 12/01/2031 3.55% | MERCURY SYSTEMS INC 3.93% |
| FedEx Corp 3.53% | UNITED STATES OF AMERICA - BUREAU OF THE 3.09% |
| United Airlines Holdings Inc 3.04% | CRANE COMPANY 3.06% |
| Ryanair Holdings PLC 2.45% | CURTISS-WRIGHT CORP 2.45% |
| AerCap Holdings NV 2.20% | ASTRONICS CORP 2.29% |
| Southwest Airlines Co 2.03% | HONEYWELL INTERNATIONAL INC 2.01% |
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 | |||
|---|---|---|---|---|---|---|
| AV | GCAD | AV | GCAD | AV | GCAD | |
| 3 months | −9.0% | −11.3% | −11.3 pts | −13.5 pts | −6.5 pts | −8.8 pts |
| 6 months | not published | −0.8% | not published | −18.8 pts | not published | −25.0 pts |
| 1 year | not published | +14.2% | not published | −2.4 pts | not published | −7.6 pts |
| 3 years | not published | +120.8% | not published | +42.4 pts | not published | +22.6 pts |
| Since launch | −2.4% | +121.0% | −6.7 pts | +12.9 pts | −6.2 pts | −56.0 pts |
| AV Corgi Aerospace & Commercial Aviation ETF Holds 40 stocks in defense, 66% of its weight in S&P 500 companies | GCAD Gabelli Commercial Aerospace and Defense ETF Holds 54 stocks in defense, 40% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Corgi | Gabelli |
| Theme | Defense | Defense |
| In the S&P 500 | 66.3% | 40.2% |
| Active share vs the S&P 500 | 97.6% | 97.2% |
| In the Nasdaq-100 | 0.0% | 2.5% |
| Holdings | 40 | 54 |
| Top ten, share of the fund | 55.5% | 47.5% |
| Expense ratio | 0.35% | 0.90% |
| Fee for the differing part | 0.36% | 0.93% |
| Total return, 1 year | −2.4% (since launch on May 6, 2026) | +14.2% |
| vs the S&P 500 | −6.7 pts | −2.4 pts |
| vs the Nasdaq-100 | −6.2 pts | −7.6 pts |
| Below its high | −13.0% | −14.2% |
| Net assets | $773,395 | $44m |
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.
GCAD in plain words
By weight, 40% of GCAD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 48% of the fund across 54 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +14.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 2.4 pts. It sits 14.2% below its all-time high of Aug 14, 2026.
Questions people ask
- Do AV and GCAD hold the same stocks?
- By their latest filings, 38% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, AV or GCAD?
- AV has 66% of its weight in S&P 500 names and GCAD has 40%, so AV differs more from the index.
- Which is cheaper, AV or GCAD?
- AV charges 0.35% a year and GCAD charges 0.90%, 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, AV against GCAD, data as of Sep 18, 2026. https://etfiq.com/compare/themes/av-vs-gcad Free to use with attribution; the underlying files are at Open data.