Data as of .
FOWF vs ITA: which is really different?
FOWF and ITA hold 34% of their weight in the same names, and FOWF returned more over the year.
ETFIQ Off-Index Score: ITA 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
34% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FOWF and ITA hold 34% of their money in the same securities at the same weight.
| Holding | FOWF | ITA |
|---|---|---|
| Boeing Co/The | 7.51% | 7.72% |
| RTX Corp | 6.76% | 16.38% |
| Northrop Grumman Corp | 5.58% | 4.69% |
| Lockheed Martin Corp | 6.39% | 4.66% |
| General Dynamics Corp | 7.55% | 4.59% |
| L3Harris Technologies Inc | 3.24% | 3.46% |
| Howmet Aerospace Inc | 0.80% | 4.53% |
| TransDigm Group Inc | 0.56% | 4.43% |
| Airbus SE | 0.61% | 0.34% |
| Only in FOWF | Only in ITA |
|---|---|
| BAE Systems PLC 3.98% | GE AEROSPACE 20.42% |
| Dell Technologies Inc 2.10% | HONEYWELL AEROSPACE INC 3.91% |
| Leidos Holdings Inc 2.08% | AXON ENTERPRISE 2.74% |
| Honeywell International Inc 1.66% | ROCKET LAB CORP 2.67% |
| Nokia Oyj 1.41% | ATI 1.96% |
| Vertiv Holdings Co 1.17% | CURTISS WRIGHT 1.58% |
| Corning Inc 1.10% | CARPENTER TECHNOLOGY 1.52% |
| Keysight Technologies Inc 1.09% | FTAI AVIATION 1.47% |
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 Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FOWF | ITA | FOWF | ITA | FOWF | ITA | |
| 3 months | +2.2% | −10.4% | −0.1 pts | −12.7 pts | +4.7 pts | −7.9 pts |
| 6 months | +5.6% | −3.7% | −12.4 pts | −21.8 pts | −18.6 pts | −28.0 pts |
| 1 year | +12.7% | +5.6% | −3.9 pts | −10.9 pts | −9.1 pts | −16.1 pts |
| 3 years | not published | +100.0% | not published | +21.6 pts | not published | +1.9 pts |
| Since launch | +43.5% | +884.1% | +10.6 pts | +80.5 pts | +2.6 pts | −806.1 pts |
| FOWF Pacer Solactive Whitney Future of Warfare ETF Holds 86 stocks in defense, 74% of its weight in S&P 500 companies | ITA iShares U.S. Aerospace & Defense ETF Holds 52 stocks in defense, 79% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Pacer | iShares |
| Theme | Defense | Defense |
| In the S&P 500 | 73.5% | 79.3% |
| Active share vs the S&P 500 | 88.4% | 97.9% |
| In the Nasdaq-100 | 13.7% | 2.9% |
| Holdings | 86 | 52 |
| Top ten, share of the fund | 46.9% | 77.3% |
| Expense ratio | 0.49% | 0.37% |
| Fee for the differing part | 0.55% | 0.38% |
| Total return, 1 year | +12.7% | +5.6% |
| vs the S&P 500 | −3.9 pts | −10.9 pts |
| vs the Nasdaq-100 | −9.1 pts | −16.1 pts |
| Below its high | −8.4% | −15.4% |
| Net assets | $15m | $12.5bn |
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.
ITA in plain words
By weight, 79% of ITA'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 77% of the fund across 52 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +5.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 10.9 pts. It sits 15.4% below its all-time high of Aug 14, 2026.
Questions people ask
- Do FOWF and ITA hold the same stocks?
- By their latest filings, 34% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, FOWF or ITA?
- FOWF has 74% of its weight in S&P 500 names and ITA has 79%, so ITA differs more from the index.
- Which is cheaper, FOWF or ITA?
- FOWF charges 0.49% a year and ITA charges 0.37%, so ITA 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, FOWF against ITA, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fowf-vs-ita Free to use with attribution; the underlying files are at Open data.