Do DUTY and MISL hold the same stocks?

By their latest filings, 39% 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, DUTY or MISL?

DUTY has 62% of its weight in S&P 500 names and MISL has 66%, so DUTY differs more from the index.

Which is cheaper, DUTY or MISL?

DUTY charges 0.45% a year and MISL charges 0.60%, so DUTY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

DUTY vs MISL: Holdings Overlap & Returns

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DUTY and MISL hold 39% of their weight in the same names.

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Net assets: $2.1m on Jun 30, 2026 for U.S. Defense ETF, and $685m on Nov 3, 2026 for First Trust Indxx Aerospace & Defense ETF.

DUTY on its own →MISL on its own →

At a glance

61.7%

DUTY in the S&P 500

65.9%

MISL in the S&P 500

+7.2%

DUTY total return, since launch, Apr 8, 2026

−2.3%

MISL total return, 1 year

DUTY · 6 months to Nov 4, 2026 38% of its weight is outside the S&P 500

62% of DUTY's weight is in S&P 500 companies and 38% is outside the index. Holdings as of Jun 30, 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

DUTY costs 0.15 points a year less.

Points (pts) are percentage points.

DUTY vs MISL: Holdings Overlap & Returns
Measure	DUTY	MISL
Return
Measure	DUTY	MISL
Total return, 1 year	not published	−2.3%
Drawdown
Measure	DUTY	MISL
Below its all-time high	9.0%, high on Aug 13, 2026	19.1%, high on Jan 16, 2026
Against its benchmark
Measure	DUTY	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	DUTY	MISL
Expense ratio	0.45%	0.60%
Net assets, DUTY as of Jun 30, 2026 and MISL as of Nov 3, 2026	$2.1m	$685m
Holdings
Measure	DUTY	MISL
Holdings in common	39%

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

IQ Themes Score90.4DUTY81.1MISL

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

DUTY 90.4

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

39%

By the books each fund has filed, DUTY and MISL hold 39% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

39% in common

Positions both hold · largest shared weight first DUTY MISL

Palantir Technologies Inc 5.96% 6.60%

Lockheed Martin Corp 7.32% 4.93%

L3Harris Technologies Inc 6.83% 4.61%

Northrop Grumman Corp 6.60% 4.50%

General Dynamics Corp 7.55% 4.45%

Rocket Lab Corp 5.34% 3.14%

Leidos Holdings Inc 2.73% 1.79%

CACI International Inc 2.27% 1.59%

Huntington Ingalls Industries 2.45% 1.32%

Moog Inc 2.53% 1.21%

Kratos Defense & Security Solu 2.06% 0.82%

AeroVironment Inc 1.03% 0.67%

Only in one fund ↓

Only in DUTY

Palo Alto Networks Inc 5.20%

Fortinet Inc 4.91%

Crowdstrike Holdings Inc 4.63%

Okta Inc 4.61%

Teledyne Technologies Inc 4.34%

Akamai Technologies Inc 3.14%

Check Point Software Technolog 2.88%

Zscaler Inc 2.71%

Only in MISL

RTX Corporation 8.62%

GE Aerospace 8.18%

The Boeing Company 7.16%

Space Exploration Technologies Corp. (Class A) 6.84%

TransDigm Group Incorporated 4.29%

HEICO Corporation 4.24%

Honeywell Aerospace Inc. 3.92%

Howmet Aerospace Inc. 3.90%

Check overlap with more funds →

Window by window

Window by window: DUTY vs MISL: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	DUTY	MISL	DUTY	MISL
3 months	−2.5%	−10.2%	not measured	−10.1 pts vs VOO
6 months	+13.4%	−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: DUTY Apr 2026 · MISL Oct 2022	+7.2%	+103.7%	not measured	−8.3 pts vs VOO

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

Side by side

DUTY U.S. Defense ETF · Holds 50 stocks in defense, 62% 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 Aura First Trust

Theme Defense Defense

In the S&P 500 61.7% 65.9%

Active share vs the S&P 500 98.1% 97.4%

In the Nasdaq-100 26.0% 20.5%

Holdings 50 44

Top ten, share of the fund 59.0% 60.2%

Expense ratio 0.45% 0.60%

Fee for the differing part 0.46% 0.62%

Total return, 1 year +7.2% (since launch, Apr 8, 2026) −2.3%

vs its benchmark not measured −17.1 pts vs VOO

Below its high −9.0% −19.1%

Net assets, DUTY as of Jun 30, 2026 and MISL as of Nov 3, 2026 $2.1m $685m

As of Nov 4, 2026. Source: ETFIQ.

39% of the two portfolios are the same securities at the same weight.

Alert

About each fund

DUTY

By weight, 62% of DUTY'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 59% of the fund across 50 positions, as filed for Jun 30, 2026. Since it first traded on Apr 8, 2026 the fund returned +7.2% with distributions reinvested. It sits 9.0% below its all-time high of Aug 13, 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 DUTY and MISL hold the same stocks?: By their latest filings, 39% 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, DUTY or MISL?: DUTY has 62% of its weight in S&P 500 names and MISL has 66%, so DUTY differs more from the index.
Which is cheaper, DUTY or MISL?: DUTY charges 0.45% a year and MISL charges 0.60%, so DUTY is cheaper. Fees come from each fund's prospectus.

Other comparisons

DUTY vs IDEF DUTY vs KDEF DUTY vs ITA DUTY vs TSSD MISL vs NATO MISL vs XAR MISL vs SHLD MISL vs PPA

Where to next

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

Sources and dates

DUTY filings on SEC EDGAR ↗

DUTY prospectus with the expense ratio (SEC) ↗

Aura 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.

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

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