Data as of .
FOWF vs WDEF: which is really different?
FOWF and WDEF hold 13% of their weight in the same names, and FOWF returned more over the year.
ETFIQ Off-Index Score: WDEF 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
13% 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 WDEF hold 13% of their money in the same securities at the same weight.
| Holding | FOWF | WDEF |
|---|---|---|
| BAE Systems PLC | 3.98% | 10.21% |
| Leonardo SpA | 0.71% | 4.79% |
| Kongsberg Gruppen ASA | 0.69% | 4.61% |
| Rolls-Royce Holdings PLC | 0.67% | 5.57% |
| Safran SA | 0.62% | 5.62% |
| Thales SA | 0.62% | 10.14% |
| Airbus SE | 0.61% | 5.34% |
| Saab AB | 0.53% | 4.83% |
| Rheinmetall AG | 0.52% | 8.70% |
| Kongsberg Maritime AS | 0.13% | 0.78% |
| Only in FOWF | Only in WDEF |
|---|---|
| General Dynamics Corp 7.55% | DASSAULT AVIATION SA 4.14% |
| Boeing Co/The 7.51% | HENSOLDT AG 4.13% |
| RTX Corp 6.76% | BABCOCK INTERNATIONAL GROUP PLC 3.10% |
| Lockheed Martin Corp 6.39% | INDRA SISTEMAS SA 2.98% |
| Northrop Grumman Corp 5.58% | TKMS AG & CO. KGAA 2.96% |
| L3Harris Technologies Inc 3.24% | MELROSE INDUSTRIES PLC 2.54% |
| Dell Technologies Inc 2.10% | RENK GROUP AG 2.51% |
| Leidos Holdings Inc 2.08% | EXOSENS SA 1.70% |
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 Jun 30, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FOWF | WDEF | FOWF | WDEF | FOWF | WDEF | |
| 3 months | +2.2% | +2.9% | −0.1 pts | +0.7 pts | +4.7 pts | +5.4 pts |
| 6 months | +5.6% | −6.0% | −12.4 pts | −24.1 pts | −18.6 pts | −30.3 pts |
| 1 year | +12.7% | −7.6% | −3.9 pts | −24.1 pts | −9.1 pts | −29.4 pts |
| Since launch | +43.5% | −2.7% | +10.6 pts | −25.7 pts | +2.6 pts | −31.8 pts |
| FOWF Pacer Solactive Whitney Future of Warfare ETF Holds 86 stocks in defense, 74% of its weight in S&P 500 companies | WDEF WisdomTree Europe Defense Fund Holds 42 stocks in defense, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Pacer | WisdomTree |
| Theme | Defense | Defense |
| In the S&P 500 | 73.5% | 0.0% |
| Active share vs the S&P 500 | 88.4% | 100.0% |
| In the Nasdaq-100 | 13.7% | 0.0% |
| Holdings | 86 | 42 |
| Top ten, share of the fund | 46.9% | 63.9% |
| Expense ratio | 0.49% | 0.45% |
| Fee for the differing part | 0.55% | 0.45% |
| Total return, 1 year | +12.7% | −7.6% |
| vs the S&P 500 | −3.9 pts | −24.1 pts |
| vs the Nasdaq-100 | −9.1 pts | −29.4 pts |
| Below its high | −8.4% | −15.7% |
| Net assets | $15m | $83m |
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.
WDEF in plain words
By weight, 0% of WDEF'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 64% of the fund across 42 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −7.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 24.1 pts. It sits 15.7% below its all-time high of Jan 27, 2026.
Questions people ask
- Do FOWF and WDEF hold the same stocks?
- By their latest filings, 13% 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, FOWF or WDEF?
- FOWF has 74% of its weight in S&P 500 names and WDEF has 0%, so WDEF differs more from the index.
- Which is cheaper, FOWF or WDEF?
- FOWF charges 0.49% a year and WDEF charges 0.45%, so WDEF 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 WDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fowf-vs-wdef Free to use with attribution; the underlying files are at Open data.