Data as of .
EUAD vs XDEF: which is really different?
EUAD and XDEF hold 62% of their weight in the same names.
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
62% 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 XDEF hold 62% of their money in the same securities at the same weight.
| Holding | EUAD | XDEF |
|---|---|---|
| Airbus SE | 14.86% | 8.69% |
| Safran SA | 7.56% | 8.26% |
| BAE Systems PLC | 8.96% | 7.30% |
| Rheinmetall AG | 7.53% | 6.95% |
| Thales SA | 6.92% | 4.40% |
| MTU Aero Engines AG | 11.03% | 4.29% |
| Leonardo SpA | 8.27% | 3.98% |
| Saab AB | 7.00% | 3.87% |
| Hensoldt AG | 4.90% | 3.63% |
| QinetiQ Group PLC | 2.02% | 1.80% |
| Chemring Group PLC | 1.33% | 1.18% |
| Only in EUAD | Only in XDEF |
|---|---|
| Rolls-Royce Holdings 8.43% | ROLLS-ROYCE HOLDINGS PLC 8.64% |
| CLEARST. RYCEY SWAP 6.00% | DSV A/S 4.70% |
| Babcock Internationa 4.14% | MELROSE INDUSTRIES PLC 4.28% |
| CLEARST. BAESY SWAP 0.89% | KONGSBERG GRUPPEN ASA 3.92% |
| CLEARST. LSIIF SWAP 0.10% | DASSAULT AVIATION SA 3.71% |
| CLEARST. AVVOF SWAP 0.03% | BABCOCK INTERNATIONAL GROUP PLC 3.69% |
| CLEARST. EXALF SWAP 0.03% | INDRA SISTEMAS SA 3.41% |
| RENK GROUP AG 3.27% |
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 May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| EUAD | XDEF | EUAD | XDEF | EUAD | XDEF | |
| 3 months | +1.0% | +1.8% | −1.3 pts | −0.5 pts | +3.5 pts | +4.3 pts |
| 6 months | +4.8% | −0.4% | −13.2 pts | −18.5 pts | −19.4 pts | −24.7 pts |
| 1 year | −4.4% | not published | −21.0 pts | not published | −26.2 pts | not published |
| Since launch | +70.4% | −99.1% | +36.8 pts | −111.5 pts | +23.6 pts | −117.1 pts |
| EUAD Select STOXX Europe Aerospace & Defense ETF Holds 18 stocks in defense, 0% of its weight in S&P 500 companies | XDEF Xtrackers Europe Defense Technologies ETF Holds 30 stocks in defense, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Tuttle | Xtrackers |
| Theme | Defense | Defense |
| In the S&P 500 | 0.0% | 0.0% |
| Active share vs the S&P 500 | 100.0% | 100.0% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 18 | 30 |
| Top ten, share of the fund | 86.6% | 61.5% |
| Expense ratio | 0.50% | 0.35% |
| Fee for the differing part | 0.50% | 0.35% |
| Total return, 1 year | −4.4% | −99.1% (since launch on Jan 2, 2026) |
| vs the S&P 500 | −21.0 pts | −111.5 pts |
| vs the Nasdaq-100 | −26.2 pts | −117.1 pts |
| Below its high | −11.6% | −99.2% |
| Net assets | $1.2bn | $4m |
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.
XDEF in plain words
By weight, 0% of XDEF'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 62% of the fund across 30 positions, as filed for May 31, 2026. Since it launched on Jan 2, 2026 the fund returned −99.1% with distributions reinvested against +12.4% for the S&P 500, so a holder was behind by 111.5 pts. It sits 99.2% below its all-time high of Jan 16, 2026.
Questions people ask
- Do EUAD and XDEF hold the same stocks?
- By their latest filings, 62% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, EUAD or XDEF?
- EUAD has 0% of its weight in S&P 500 names and XDEF has 0%, so EUAD differs more from the index.
- Which is cheaper, EUAD or XDEF?
- EUAD charges 0.50% a year and XDEF charges 0.35%, so XDEF 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 XDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/euad-vs-xdef Free to use with attribution; the underlying files are at Open data.