Data as of .
GCAD vs IDEF: which is really different?
GCAD and IDEF hold 31% of their weight in the same names, and GCAD returned more over the year.
ETFIQ Off-Index Score: GCAD 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
31% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, GCAD and IDEF hold 31% of their money in the same securities at the same weight.
| Holding | GCAD | IDEF |
|---|---|---|
| RTX CORP | 4.14% | 6.55% |
| LOCKHEED MARTIN CORP | 3.98% | 3.62% |
| BOEING COMPANY (THE) | 5.20% | 3.19% |
| NORTHROP GRUMMAN CORP | 3.48% | 2.58% |
| GENERAL DYNAMICS CORP | 2.40% | 2.94% |
| AAR CORP | 1.67% | 2.55% |
| GE AEROSPACE | 1.55% | 1.83% |
| TRANSDIGM GROUP INC | 2.04% | 1.01% |
| ATI INC | 2.29% | 0.76% |
| HOWMET AEROSPACE INC | 2.61% | 0.70% |
| CARPENTER TECHNOLOGY CORP | 1.41% | 0.67% |
| ELBIT SYSTEMS LTD | 0.55% | 1.06% |
| Only in GCAD | Only in IDEF |
|---|---|
| MOOG INC 6.20% | BLK CSH FND TREASURY SL AGENCY 3.77% |
| UNITED STATES OF AMERICA - BUREAU OF THE 3.09% | ROLLS-ROYCE HOLDINGS PLC 3.29% |
| ASTRONICS CORP 2.29% | SPACE EXPLORATION TECHNOLOGIES COR 2.44% |
| HONEYWELL INTERNATIONAL INC 2.01% | HANWHA AEROSPACE LTD 2.21% |
| ECHOSTAR CORP 1.30% | BAE SYSTEMS PLC 2.18% |
| INNOVATIVE SOLUTIONS AND SUPPORT INC 1.16% | THALES SA 2.18% |
| STANDARDAERO INC 0.94% | MITSUBISHI HEAVY INDUSTRIES 1.73% |
| FIREFLY AEROSPACE INC 0.79% | HANWHA SYSTEMS LTD 1.69% |
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 Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| GCAD | IDEF | GCAD | IDEF | GCAD | IDEF | |
| 3 months | −11.3% | −1.6% | −13.5 pts | −3.9 pts | −8.8 pts | +0.9 pts |
| 6 months | −0.8% | −5.7% | −18.8 pts | −23.8 pts | −25.0 pts | −30.0 pts |
| 1 year | +14.2% | +4.4% | −2.4 pts | −12.2 pts | −7.6 pts | −17.4 pts |
| 3 years | +120.8% | not published | +42.4 pts | not published | +22.6 pts | not published |
| Since launch | +121.0% | +27.2% | +12.9 pts | −5.6 pts | −56.0 pts | −14.2 pts |
| GCAD Gabelli Commercial Aerospace and Defense ETF Holds 54 stocks in defense, 40% of its weight in S&P 500 companies | IDEF iShares Defense Industrials Active ETF Holds 155 stocks in defense, 36% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Gabelli | iShares |
| Theme | Defense | Defense |
| In the S&P 500 | 40.2% | 36.2% |
| Active share vs the S&P 500 | 97.2% | 95.9% |
| In the Nasdaq-100 | 2.5% | 9.2% |
| Holdings | 54 | 155 |
| Top ten, share of the fund | 47.5% | 35.8% |
| Expense ratio | 0.90% | not published |
| Fee for the differing part | 0.93% | not published |
| Total return, 1 year | +14.2% | +4.4% |
| vs the S&P 500 | −2.4 pts | −12.2 pts |
| vs the Nasdaq-100 | −7.6 pts | −17.4 pts |
| Below its high | −14.2% | −13.4% |
| Net assets | $44m | $4.3bn |
GCAD in plain words
By weight, 40% of GCAD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 48% of the fund across 54 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +14.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 2.4 pts. It sits 14.2% below its all-time high of Aug 14, 2026.
IDEF in plain words
By weight, 36% of IDEF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 36% of the fund across 155 positions, as published by its issuer for Sep 18, 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 12.2 pts. It sits 13.4% below its all-time high of Mar 2, 2026.
Questions people ask
- Do GCAD and IDEF hold the same stocks?
- By their latest filings, 31% 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, GCAD or IDEF?
- GCAD has 40% of its weight in S&P 500 names and IDEF has 36%, so GCAD differs more from the index.
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, GCAD against IDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/gcad-vs-idef Free to use with attribution; the underlying files are at Open data.