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Data as of Nov 4, 2026.

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Thematic ETFs

FOWF vs XAR: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, FOWF returned +12.2% to XAR's −6.6%; 21% of their weight is in the same names.

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Net assets on Nov 3, 2026: $15m for Pacer Solactive Whitney Future of Warfare ETF and $5.3bn for State Street SPDR S&P Aerospace & Defense ETF.

FOWF on its own →XAR on its own →
At a glance
74.8%
FOWF in the S&P 500
40.1%
XAR in the S&P 500
+12.2%
FOWF total return, 1 year
−6.6%
XAR total return, 1 year
FOWF · 1 year to Nov 4, 2026 25% of its weight is outside the S&P 500
25% of its weight is outside the S&P 50075% of FOWF's weight is in S&P 500 companies and 25% is outside the index. Holdings as of Jul 31, 2026.75%25%of its weight in S&P 500 companiesoutside the S&P 500active share 88% · top ten 47% of the fund · 91 holdings as filed for Jul 31, 2026 · Nasdaq-100: 14% in25% of its weight is outside the S&P 50075% of FOWF's weight is in S&P 500 companies and 25% is outside the index. Holdings as of Jul 31, 2026.75%25%in the S&P 500outsideactive share 88% · Nasdaq-100: 14% in

75% of FOWF's weight is in S&P 500 companies and 25% is outside the index. Holdings as of Jul 31, 2026.

XAR · 1 year to Nov 4, 2026 60% of its weight is outside the S&P 500
60% of its weight is outside the S&P 50040% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Nov 3, 2026.40%60%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 33% of the fund · 50 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 8% in60% of its weight is outside the S&P 50040% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Nov 3, 2026.40%60%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 8% in

40% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

XAR costs 0.14 points a year less; their one-year returns differ by 18.8 points; XAR is far larger, $5.3bn against $15m.

Points (pts) are percentage points.

FOWF vs XAR: Holdings Overlap & Returns
MeasureFOWFXAR
Return
Total return, 1 year+12.2%−6.6%
Drawdown
Below its all-time high7.6%, high on Aug 14, 202624.0%, high on Aug 14, 2026
Against its benchmark
What it tracksDefenseDefense
Against the S&P 500, 1 yearbehind by 21.4 pts
Its benchmark, total return, 1 year+15.2%+14.8%
Against its benchmark, 1 yearbehind by 3.0 ptsbehind by 21.4 pts
Cost and size
Expense ratio0.49%0.35%
Net assets, as of Nov 3, 2026$15m$5.3bn
Holdings
Holdings in common21%

Method

What they share

21%

By the books each fund has filed, FOWF and XAR hold 21% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

0 half 100%

half

21% in common

Positions both hold · largest shared weight first FOWF XAR
Lockheed Martin Corp 7.96% 3.63%
Northrop Grumman Corp 5.08% 3.18%
General Dynamics Corp 7.88% 3.16%
RTX Corp 8.65% 3.07%
Boeing Co 6.68% 2.50%
L3Harris Technologies Inc 2.00% 3.30%
Honeywell Aerospace Inc 0.95% 3.09%
Howmet Aerospace Inc 0.72% 2.85%
Airbus SE 0.70% 1.44%
TransDigm Group Inc 0.67% 3.19%
Only in one fund ↓
Only in FOWF
BAE Systems PLC 3.65%
Dell Technologies Inc 1.96%
Leidos Holdings Inc 1.74%
Snowflake Inc 1.32%
Datadog Inc 1.25%
Palo Alto Networks Inc 1.14%
Honeywell International Inc 1.11%
Palantir Technologies Inc 1.11%
Only in XAR
HUNTINGTON INGALLS INDUSTRIE 3.36%
TEXTRON INC 3.27%
FTAI AVIATION LTD 3.23%
HEICO CORP 3.22%
KARMAN HOLDINGS INC 3.02%
STANDARDAERO INC 2.94%
GENERAL ELECTRIC 2.93%
WOODWARD INC 2.93%
Check overlap with more funds →

Window by window

Window by window: FOWF vs XAR: Holdings Overlap & Returns
Total returnvs its benchmark
WindowFOWFXARFOWFXAR
3 months−5.9%−20.0%−5.3 pts vs URTH−19.9 pts vs VOO
6 months+3.4%−15.6%−0.9 pts vs URTH−20.6 pts vs VOO
1 year+12.2%−6.6%−3.0 pts vs URTH−21.4 pts vs VOO
3 years–+89.1%–+5.8 pts vs VOO
Since launchNot the same days: FOWF Dec 2024 · XAR Sep 2011+44.8%+948.0%+8.0 pts vs URTH+180.8 pts vs VOO

– means no data for this window. Open this comparison in the app →

Side by side

FOWF Pacer Solactive Whitney Future of Warfare ETF · Holds 91 stocks in defense, 75% of its weight in S&P 500 companies XAR State Street SPDR S&P Aerospace & Defense ETF · Holds 50 stocks in defense, 40% of its weight in S&P 500 companies
Issuer Pacer State Street
Theme Defense Defense
In the S&P 500 74.8% 40.1%
Active share vs the S&P 500 88.4% 97.7%
In the Nasdaq-100 14.3% 8.2%
Holdings 91 50
Top ten, share of the fund 46.9% 32.6%
Expense ratio 0.49% 0.35%
Fee for the differing part 0.55% 0.36%
Total return, 1 year +12.2% −6.6%
vs its benchmark −3.0 pts vs URTH −21.4 pts vs VOO
Below its high −7.6% −24.0%
Net assets, as of Nov 3, 2026 $15m $5.3bn

As of Nov 4, 2026. Source: ETFIQ.

21% of the two portfolios are the same securities at the same weight.

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About each fund
FOWF

By weight, 75% 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 91 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +12.2% with distributions reinvested against +15.2% for its benchmark, the MSCI World Index, so a holder was behind by 3.0 pts. It sits 7.6% below its all-time high of Aug 14, 2026.

XAR

By weight, 40% of XAR'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 33% of the fund across 50 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −6.6% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 21.4 pts. It sits 24.0% below its all-time high of Aug 14, 2026.

Questions people ask

Do FOWF and XAR hold the same stocks?
By their latest filings, 21% 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, FOWF or XAR?
FOWF has 75% of its weight in S&P 500 names and XAR has 40%, so XAR differs more from the index.
Which is cheaper, FOWF or XAR?
FOWF charges 0.49% a year and XAR charges 0.35%, so XAR is cheaper. Fees come from each fund's prospectus.
Other comparisons
FOWF vs PPAFOWF vs ITAFOWF vs SHLDFOWF vs IDEFXAR vs WDAFXAR vs TSSDXAR vs WARXAR vs GCAD
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →FOWF on its own →XAR on its own →FOWF dividend history →FOWF holdings →XAR dividend history →XAR holdings →Method →Standards and sources →
Sources and dates
FOWF filings on SEC EDGAR ↗
FOWF prospectus with the expense ratio (SEC) ↗
Pacer website ↗
XAR filings on SEC EDGAR ↗
XAR prospectus with the expense ratio (SEC) ↗
State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

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, FOWF against XAR, data as of Nov 4, 2026. https://etfiq.com/compare/themes/fowf-vs-xar

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