Data as of .
EUAD vs FOWF: which is really different?
EUAD and FOWF hold 9% of their weight in the same names, and FOWF returned more over the year.
ETFIQ Off-Index Score: EUAD 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
9% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, EUAD and FOWF hold 9% of their money in the same securities at the same weight.
| Holding | EUAD | FOWF |
|---|---|---|
| BAE Systems PLC | 8.96% | 3.98% |
| Leonardo SpA | 8.27% | 0.71% |
| Safran SA | 7.56% | 0.62% |
| Thales SA | 6.92% | 0.62% |
| Airbus SE | 14.86% | 0.61% |
| MTU Aero Engines AG | 11.03% | 0.53% |
| Saab AB | 7.00% | 0.53% |
| Rheinmetall AG | 7.53% | 0.52% |
| Only in EUAD | Only in FOWF |
|---|---|
| Rolls-Royce Holdings 8.43% | General Dynamics Corp 7.55% |
| CLEARST. RYCEY SWAP 6.00% | Boeing Co/The 7.51% |
| Hensoldt AG 4.90% | RTX Corp 6.76% |
| Babcock Internationa 4.14% | Lockheed Martin Corp 6.39% |
| QinetiQ Group PLC 2.02% | Northrop Grumman Corp 5.58% |
| Chemring Group PLC 1.33% | L3Harris Technologies Inc 3.24% |
| CLEARST. BAESY SWAP 0.89% | Dell Technologies Inc 2.10% |
| CLEARST. LSIIF SWAP 0.10% | Leidos Holdings Inc 2.08% |
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 Apr 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| EUAD | FOWF | EUAD | FOWF | EUAD | FOWF | |
| 3 months | +1.0% | +2.2% | −1.3 pts | −0.1 pts | +3.5 pts | +4.7 pts |
| 6 months | +4.8% | +5.6% | −13.2 pts | −12.4 pts | −19.4 pts | −18.6 pts |
| 1 year | −4.4% | +12.7% | −21.0 pts | −3.9 pts | −26.2 pts | −9.1 pts |
| Since launch | +70.4% | +43.5% | +36.8 pts | +10.6 pts | +23.6 pts | +2.6 pts |
| EUAD Select STOXX Europe Aerospace & Defense ETF Holds 18 stocks in defense, 0% of its weight in S&P 500 companies | FOWF Pacer Solactive Whitney Future of Warfare ETF Holds 86 stocks in defense, 74% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Tuttle | Pacer |
| Theme | Defense | Defense |
| In the S&P 500 | 0.0% | 73.5% |
| Active share vs the S&P 500 | 100.0% | 88.4% |
| In the Nasdaq-100 | 0.0% | 13.7% |
| Holdings | 18 | 86 |
| Top ten, share of the fund | 86.6% | 46.9% |
| Expense ratio | 0.50% | 0.49% |
| Fee for the differing part | 0.50% | 0.55% |
| Total return, 1 year | −4.4% | +12.7% |
| vs the S&P 500 | −21.0 pts | −3.9 pts |
| vs the Nasdaq-100 | −26.2 pts | −9.1 pts |
| Below its high | −11.6% | −8.4% |
| Net assets | $1.2bn | $15m |
EUAD in plain words
By weight, 0% of EUAD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 87% of the fund across 18 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned −4.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 21.0 pts. It sits 11.6% below its all-time high of Jan 13, 2026.
FOWF in plain words
By weight, 74% of FOWF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 88%. The top ten holdings are 47% of the fund across 86 positions, as filed for Apr 30, 2026. Over the year to Sep 18, 2026 the fund returned +12.7% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 3.9 pts. It sits 8.4% below its all-time high of Aug 14, 2026.
Questions people ask
- Do EUAD and FOWF hold the same stocks?
- By their latest filings, 9% 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, EUAD or FOWF?
- EUAD has 0% of its weight in S&P 500 names and FOWF has 74%, so EUAD differs more from the index.
- Which is cheaper, EUAD or FOWF?
- EUAD charges 0.50% a year and FOWF charges 0.49%, so FOWF 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, EUAD against FOWF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/euad-vs-fowf Free to use with attribution; the underlying files are at Open data.