Data as of .
GCAD vs ITA: which is really different?
GCAD and ITA hold 43% of their weight in the same names, and GCAD 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
43% 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 ITA hold 43% of their money in the same securities at the same weight.
| Holding | GCAD | ITA |
|---|---|---|
| BOEING COMPANY (THE) | 5.20% | 7.72% |
| RTX CORP | 4.14% | 16.38% |
| LOCKHEED MARTIN CORP | 3.98% | 4.66% |
| NORTHROP GRUMMAN CORP | 3.48% | 4.69% |
| L3HARRIS TECHNOLOGIES INC | 4.01% | 3.46% |
| HOWMET AEROSPACE INC | 2.61% | 4.53% |
| GENERAL DYNAMICS CORP | 2.40% | 4.59% |
| TRANSDIGM GROUP INC | 2.04% | 4.43% |
| HONEYWELL AEROSPACE INC | 1.99% | 3.91% |
| ATI INC | 2.29% | 1.96% |
| CURTISS-WRIGHT CORP | 2.45% | 1.58% |
| GE AEROSPACE | 1.55% | 20.42% |
| Only in GCAD | Only in ITA |
|---|---|
| ALBANY INTERNATIONAL CORP 6.84% | AXON ENTERPRISE 2.74% |
| MOOG INC 6.20% | ROCKET LAB CORP 2.67% |
| UNITED STATES OF AMERICA - BUREAU OF THE 3.09% | FTAI AVIATION 1.47% |
| CRANE COMPANY 3.06% | HEICO CLASS A 1.26% |
| HONEYWELL INTERNATIONAL INC 2.01% | MOOG INC CLASS A 0.78% |
| ECHOSTAR CORP 1.30% | AEROVIRONMENT 0.46% |
| INNOVATIVE SOLUTIONS AND SUPPORT INC 1.16% | VSE CORP 0.37% |
| CAE INC 1.04% | ARCHER AVIATION CLASS A 0.26% |
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 | ITA | GCAD | ITA | GCAD | ITA | |
| 3 months | −11.3% | −10.4% | −13.5 pts | −12.7 pts | −8.8 pts | −7.9 pts |
| 6 months | −0.8% | −3.7% | −18.8 pts | −21.8 pts | −25.0 pts | −28.0 pts |
| 1 year | +14.2% | +5.6% | −2.4 pts | −10.9 pts | −7.6 pts | −16.1 pts |
| 3 years | +120.8% | +100.0% | +42.4 pts | +21.6 pts | +22.6 pts | +1.9 pts |
| Since launch | +121.0% | +884.1% | +12.9 pts | +80.5 pts | −56.0 pts | −806.1 pts |
| GCAD Gabelli Commercial Aerospace and Defense ETF Holds 54 stocks in defense, 40% 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 | Gabelli | iShares |
| Theme | Defense | Defense |
| In the S&P 500 | 40.2% | 79.3% |
| Active share vs the S&P 500 | 97.2% | 97.9% |
| In the Nasdaq-100 | 2.5% | 2.9% |
| Holdings | 54 | 52 |
| Top ten, share of the fund | 47.5% | 77.3% |
| Expense ratio | 0.90% | 0.37% |
| Fee for the differing part | 0.93% | 0.38% |
| Total return, 1 year | +14.2% | +5.6% |
| vs the S&P 500 | −2.4 pts | −10.9 pts |
| vs the Nasdaq-100 | −7.6 pts | −16.1 pts |
| Below its high | −14.2% | −15.4% |
| Net assets | $44m | $12.5bn |
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.
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 GCAD and ITA hold the same stocks?
- By their latest filings, 43% 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 ITA?
- GCAD has 40% of its weight in S&P 500 names and ITA has 79%, so ITA differs more from the index.
- Which is cheaper, GCAD or ITA?
- GCAD charges 0.90% 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, GCAD against ITA, data as of Sep 18, 2026. https://etfiq.com/compare/themes/gcad-vs-ita Free to use with attribution; the underlying files are at Open data.