Do DUTY and SHLD hold the same stocks?

By their latest filings, 41% 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 SHLD?

DUTY has 62% of its weight in S&P 500 names and SHLD has 53%, so SHLD differs more from the index.

Which is cheaper, DUTY or SHLD?

DUTY charges 0.45% a year and SHLD charges 0.50%, so DUTY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

DUTY vs SHLD: Holdings Overlap & Returns

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DUTY and SHLD hold 41% 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 $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF.

DUTY on its own →SHLD on its own →

At a glance

61.7%

DUTY in the S&P 500

52.8%

SHLD in the S&P 500

+7.2%

DUTY total return, since launch, Apr 8, 2026

−8.5%

SHLD 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.

SHLD · 1 year to Nov 4, 2026 47% of its weight is outside the S&P 500

53% of SHLD's weight is in S&P 500 companies and 47% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

DUTY costs 0.05 points a year less.

DUTY vs SHLD: Holdings Overlap & Returns
Measure	DUTY	SHLD
Return
Measure	DUTY	SHLD
Total return, 1 year	not published	−8.5%
Drawdown
Measure	DUTY	SHLD
Below its all-time high	9.0%, high on Aug 13, 2026	21.4%, high on Mar 9, 2026
Benchmark
Measure	DUTY	SHLD
What it tracks	Defense	Defense
Cost and size
Measure	DUTY	SHLD
Expense ratio	0.45%	0.50%
Net assets, DUTY as of Jun 30, 2026 and SHLD as of Oct 12, 2026	$2.1m	$6.3bn
Holdings
Measure	DUTY	SHLD
Holdings in common	41%

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

IQ Themes Score90.4DUTY95.6SHLD

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

SHLD 95.6

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

Risk and return

Apr 17, 2026 to Oct 30, 2026 · 28 weekly returns

DUTY SHLD

Return

Total return edge DUTY +14.8% −12.8%

Price return edge DUTY +14.8% −13.0%

Risk

Max drawdown edge DUTY −12.0% −20.4%

Reading

From Apr 2026 to Oct 2026, DUTY returned more: +14.8% to −12.8%. DUTY fell less at its worst: −12.0% to −20.4%.

Full scorecard

3 measures, with how each is measured Open ↓

Risk and return: DUTY vs SHLD: Holdings Overlap & Returns
Measure	DUTY	SHLD	Edge	How it is measured
Return
Total return	+14.8%	−12.8%	DUTY	Price change plus distributions, reinvested.
Price return	+14.8%	−13.0%	DUTY	Price change alone, distributions left out.
Risk
Max drawdown	−12.0%	−20.4%	DUTY	Deepest fall from a high to the low after it.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 28 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

41%

By the books each fund has filed, DUTY and SHLD hold 41% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

50%

0 half 100%

half

41% in common

Positions both hold · largest shared weight first DUTY SHLD

General Dynamics Corp 7.55% 8.59%

Lockheed Martin Corp 7.32% 8.34%

Northrop Grumman Corp 6.60% 7.71%

Palantir Technologies Inc 5.96% 10.80%

L3Harris Technologies Inc 6.83% 3.80%

Leidos Holdings Inc 2.73% 2.56%

Huntington Ingalls Industries 2.45% 1.67%

Moog Inc 2.53% 1.52%

AeroVironment Inc 1.03% 0.82%

Mercury Systems Inc 1.33% 0.76%

Karman Holdings Inc 1.00% 0.56%

Parsons Corp 0.55% 0.75%

Only in one fund ↓

Only in DUTY

Rocket Lab Corp 5.34%

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%

Only in SHLD

RTX CORPORATION 9.31%

BAE SYSTEMS PLC 4.62%

Rheinmetall Aktiengesellschaft 4.04%

HANWHA AEROSPACE CO., LTD. 3.81%

THALES SA 3.72%

SAAB Aktiebolag 3.58%

LEONARDO - SOCIETA PER AZIONI 3.54%

ELBIT SYSTEMS LTD 2.84%

Check overlap with more funds →

Window by window

Window by window: DUTY vs SHLD: Holdings Overlap & Returns
	Total return
Window	DUTY	SHLD
3 months	−2.5%	−9.2%
6 months	+13.4%	−9.7%
1 year	–	−8.5%
3 years	–	+133.6%
Since launchNot the same days: DUTY Apr 2026 · SHLD Sep 2023	+7.2%	+151.4%

– 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 SHLD Global X Defense Tech ETF · Holds 50 stocks in defense, 53% of its weight in S&P 500 companies

Issuer Aura Global X

Theme Defense Defense

In the S&P 500 61.7% 52.8%

Active share vs the S&P 500 98.1% 98.7%

In the Nasdaq-100 26.0% 10.8%

Holdings 50 50

Top ten, share of the fund 59.0% 64.8%

Expense ratio 0.45% 0.50%

Fee for the differing part 0.46% 0.51%

Total return, 1 year +7.2% (since launch, Apr 8, 2026) −8.5%

vs its benchmark not measured not measured

Below its high −9.0% −21.4%

Net assets, DUTY as of Jun 30, 2026 and SHLD as of Oct 12, 2026 $2.1m $6.3bn

As of Nov 4, 2026. Source: ETFIQ.

41% of the two portfolios are the same securities at the same weight.

Client brief

No client brief for this pair: ETFIQ prints no one-year total return for DUTY.

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.

SHLD

By weight, 53% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 65% of the fund across 50 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned −8.5% with distributions reinvested. It sits 21.4% below its all-time high of Mar 9, 2026.

Questions people ask

Do DUTY and SHLD hold the same stocks?: By their latest filings, 41% 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 SHLD?: DUTY has 62% of its weight in S&P 500 names and SHLD has 53%, so SHLD differs more from the index.
Which is cheaper, DUTY or SHLD?: DUTY charges 0.45% a year and SHLD charges 0.50%, so DUTY is cheaper. Fees come from each fund's prospectus.

Other comparisons

DUTY vs PPA DUTY vs XAR DUTY vs IDEF DUTY vs ITA SHLD vs WDAF SHLD vs WAR SHLD vs WDEF SHLD vs EUAD

Where to next

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

Sources and dates

DUTY filings on SEC EDGAR ↗

DUTY prospectus with the expense ratio (SEC) ↗

Aura website ↗

SHLD filings on SEC EDGAR ↗

SHLD prospectus with the expense ratio (SEC) ↗

Global X page for SHLD ↗

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

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