Data as of .
AV vs WAR: which is really different?
AV and WAR hold 0% 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
0% 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 WAR hold 0% of their money in the same securities at the same weight.
| Only in AV | Only in WAR |
|---|---|
| GE AEROSPACE 10.74% | Astera Labs Inc 9.50% |
| RTX Corp 9.94% | Axon Enterprise Inc 8.76% |
| General Dynamics Corp 5.48% | Micron Technology Inc 8.59% |
| Lockheed Martin Corp 4.97% | Mildef Group AB 7.21% |
| Howmet Aerospace Inc 4.63% | DroneShield Ltd 5.04% |
| Northrop Grumman Corp 4.50% | Intuitive Machines Inc 4.98% |
| Boeing Co/The 4.00% | Teradyne Inc 4.96% |
| United Parcel Service Inc 4.00% | Electro Optic Systems Holdings 4.11% |
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 | WAR | AV | WAR | AV | WAR | |
| 3 months | −9.0% | −7.9% | −11.3 pts | −10.2 pts | −6.5 pts | −5.4 pts |
| Since launch | −2.4% | −9.7% | −6.7 pts | −11.7 pts | −6.2 pts | −8.6 pts |
| AV Corgi Aerospace & Commercial Aviation ETF Holds 40 stocks in defense, 66% of its weight in S&P 500 companies | WAR U.S. Global Technology and Aerospace & Defense ETF Holds 28 stocks in defense, 38% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Corgi | U.S. Global |
| Theme | Defense | Defense |
| In the S&P 500 | 66.3% | 38.3% |
| Active share vs the S&P 500 | 97.6% | 92.4% |
| In the Nasdaq-100 | 0.0% | 31.5% |
| Holdings | 40 | 28 |
| Top ten, share of the fund | 55.5% | 61.3% |
| Expense ratio | 0.35% | 0.60% |
| Fee for the differing part | 0.36% | 0.65% |
| Total return, 1 year | −2.4% (since launch on May 6, 2026) | −9.7% (since launch on May 26, 2026) |
| vs the S&P 500 | −6.7 pts | −11.7 pts |
| vs the Nasdaq-100 | −6.2 pts | −8.6 pts |
| Below its high | −13.0% | −13.8% |
| Net assets | $773,395 | $41m |
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.
WAR in plain words
By weight, 38% of WAR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 61% of the fund across 28 positions, as filed for Jun 30, 2026. Since it launched on May 26, 2026 the fund returned −9.7% with distributions reinvested against +2.0% for the S&P 500, so a holder was behind by 11.7 pts. It sits 13.8% below its all-time high of Jun 2, 2026.
Questions people ask
- Do AV and WAR hold the same stocks?
- By their latest filings, 0% 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, AV or WAR?
- AV has 66% of its weight in S&P 500 names and WAR has 38%, so AV differs more from the index.
- Which is cheaper, AV or WAR?
- AV charges 0.35% a year and WAR charges 0.60%, 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 WAR, data as of Sep 18, 2026. https://etfiq.com/compare/themes/av-vs-war Free to use with attribution; the underlying files are at Open data.