Do AV and MISL hold the same stocks?

By their latest filings, 52% 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, AV or MISL?

AV has 67% of its weight in S&P 500 names and MISL has 66%, so AV differs more from the index.

Which is cheaper, AV or MISL?

AV charges 0.35% a year and MISL charges 0.60%, so AV is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

AV vs MISL: Holdings Overlap & Returns

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AV and MISL hold 52% of their weight in the same names.

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Net assets: $800,703 on Nov 4, 2026 for Corgi Aerospace & Commercial Aviation ETF, and $685m on Nov 3, 2026 for First Trust Indxx Aerospace & Defense ETF.

AV on its own →MISL on its own →

At a glance

67.0%

AV in the S&P 500

65.9%

MISL in the S&P 500

+1.0%

AV total return, 6 months

−2.3%

MISL total return, 1 year

AV · 6 months to Nov 4, 2026 33% of its weight is outside the S&P 500

67% of AV's weight is in S&P 500 companies and 33% is outside the index. Holdings as of Nov 4, 2026.

MISL · 1 year to Nov 4, 2026 34% of its weight is outside the S&P 500

66% of MISL's weight is in S&P 500 companies and 34% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

AV costs 0.25 points a year less.

Points (pts) are percentage points.

AV vs MISL: Holdings Overlap & Returns
Measure	AV	MISL
Return
Measure	AV	MISL
Total return, 1 year	not published	−2.3%
Drawdown
Measure	AV	MISL
Below its all-time high	10.0%, high on Aug 5, 2026	19.1%, high on Jan 16, 2026
Against its benchmark
Measure	AV	MISL
What it tracks	Defense	Defense
Against the S&P 500, 1 year		behind by 17.1 pts
Its benchmark, total return, 1 year		+14.8%
Against its benchmark, 1 year		behind by 17.1 pts
Cost and size
Measure	AV	MISL
Expense ratio	0.35%	0.60%
Net assets, as of Nov 3, 2026	$796,641	$685m
Holdings
Measure	AV	MISL
Holdings in common	52%

ETFIQ S&P 500 Difference Score · AV scores higher How much of its weight does it not share with the S&P 500?

IQ Themes Score84.2AV81.1MISL

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

AV 84.2

MISL 81.1

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

52%

By the books each fund has filed, AV and MISL hold 52% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

52% in common

Positions both hold · largest shared weight first AV MISL

RTX Corp 9.81% 8.62%

GE AEROSPACE 10.86% 8.18%

Lockheed Martin Corp 5.35% 4.93%

General Dynamics Corp 5.47% 4.45%

Northrop Grumman Corp 4.33% 4.50%

Howmet Aerospace Inc 4.16% 3.90%

TransDigm Group Inc 3.65% 4.29%

Boeing Co 3.45% 7.16%

Woodward Inc 1.96% 2.08%

HEICO Corp 1.77% 4.24%

FTAI Aviation Ltd 1.75% 2.18%

Textron Inc 1.69% 1.60%

Only in one fund ↓

Only in AV

United Parcel Service Inc 4.45%

Delta Air Lines Inc 4.01%

FedEx Corp 3.70%

United Airlines Holdings Inc 3.12%

Ryanair Holdings PLC 2.61%

AerCap Holdings NV 2.48%

ATI Inc 2.28%

Southwest Airlines Co 2.23%

Only in MISL

Space Exploration Technologies Corp. (Class A) 6.84%

Palantir Technologies Inc. (Class A) 6.60%

L3Harris Technologies, Inc. 4.61%

Honeywell Aerospace Inc. 3.92%

Rocket Lab Corporation 3.14%

Curtiss-Wright Corporation 1.95%

Leidos Holdings, Inc. 1.79%

CACI International Inc. 1.59%

Check overlap with more funds →

Window by window

Window by window: AV vs MISL: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AV	MISL	AV	MISL
3 months	−10.0%	−10.2%	not measured	−10.1 pts vs VOO
6 months	+1.0%	−7.5%	not measured	−12.5 pts vs VOO
1 year	–	−2.3%	–	−17.1 pts vs VOO
3 years	–	+79.3%	–	−4.0 pts vs VOO
Since launchNot the same days: AV May 2026 · MISL Oct 2022	+1.0%	+103.7%	not measured	−8.3 pts vs VOO

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

Side by side

AV Corgi Aerospace & Commercial Aviation ETF · Holds 39 stocks in defense, 67% of its weight in S&P 500 companies MISL First Trust Indxx Aerospace & Defense ETF · Holds 44 stocks in defense, 66% of its weight in S&P 500 companies

Issuer Corgi First Trust

Theme Defense Defense

In the S&P 500 67.0% 65.9%

Active share vs the S&P 500 97.6% 97.4%

In the Nasdaq-100 0.0% 20.5%

Holdings 39 44

Top ten, share of the fund 55.8% 60.2%

Expense ratio 0.35% 0.60%

Fee for the differing part 0.36% 0.62%

Total return, 1 year +1.0% (since launch, May 6, 2026) −2.3%

vs its benchmark not measured −17.1 pts vs VOO

Below its high −10.0% −19.1%

Net assets, AV as of Nov 4, 2026 and MISL as of Nov 3, 2026 $800,703 $685m

As of Nov 4, 2026. Source: ETFIQ.

52% of the two portfolios are the same securities at the same weight.

Alert

About each fund

By weight, 67% 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 39 positions, as published by its issuer for Nov 4, 2026. Since it first traded on May 6, 2026 the fund returned +1.0% with distributions reinvested. It sits 10.0% below its all-time high of Aug 5, 2026.

MISL

By weight, 66% of MISL'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 60% of the fund across 44 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −2.3% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 17.1 pts. It sits 19.1% below its all-time high of Jan 16, 2026.

Questions people ask

Do AV and MISL hold the same stocks?: By their latest filings, 52% 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, AV or MISL?: AV has 67% of its weight in S&P 500 names and MISL has 66%, so AV differs more from the index.
Which is cheaper, AV or MISL?: AV charges 0.35% a year and MISL charges 0.60%, so AV is cheaper. Fees come from each fund's prospectus.

Other comparisons

AV vs IDEF AV vs KDEF AV vs XAR AV vs ITA MISL vs NATO MISL vs XAR MISL vs SHLD MISL vs PPA

Where to next

AV on its own →MISL on its own →AV holdings →MISL dividend history →MISL holdings →Method →Standards and sources →

Sources and dates

AV filings on SEC EDGAR ↗

AV prospectus with the expense ratio (SEC) ↗

Corgi website ↗

MISL filings on SEC EDGAR ↗

MISL prospectus with the expense ratio (SEC) ↗

First Trust page for MISL ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

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, AV against MISL, data as of Nov 4, 2026. https://etfiq.com/compare/themes/av-vs-misl

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