Data as of .
GCAD vs SHLD: which is really different?
GCAD and SHLD hold 24% of their weight in the same names, and GCAD returned more over the year.
ETFIQ Off-Index Score: SHLD 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
24% 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 SHLD hold 24% of their money in the same securities at the same weight.
| Holding | GCAD | SHLD |
|---|---|---|
| RTX CORP | 4.14% | 9.10% |
| LOCKHEED MARTIN CORP | 3.98% | 8.29% |
| L3HARRIS TECHNOLOGIES INC | 4.01% | 3.69% |
| NORTHROP GRUMMAN CORP | 3.48% | 7.88% |
| GENERAL DYNAMICS CORP | 2.40% | 8.54% |
| MERCURY SYSTEMS INC | 3.93% | 0.77% |
| HUNTINGTON INGALLS INDUSTRIES INC | 0.66% | 1.64% |
| ELBIT SYSTEMS LTD | 0.55% | 3.15% |
| LEIDOS HOLDINGS INC | 0.46% | 2.44% |
| BWX TECHNOLOGIES INC | 0.46% | 2.06% |
| RHEINMETALL AG | 0.46% | 3.80% |
| PALANTIR TECHNOLOGIES INC | 0.45% | 10.77% |
| Only in GCAD | Only in SHLD |
|---|---|
| ALBANY INTERNATIONAL CORP 6.84% | BAE SYSTEMS PLC 4.72% |
| MOOG INC 6.20% | HANWHA AEROSPACE CO LTD 3.86% |
| BOEING COMPANY (THE) 5.20% | THALES SA 3.76% |
| DUCOMMUN INC 4.74% | LEONARDO SPA 3.56% |
| HEXCEL CORP 4.58% | SAAB AB-B 3.47% |
| TEXTRON INC 3.87% | KONGSBERG GRUPPEN ASA 2.16% |
| UNITED STATES OF AMERICA - BUREAU OF THE 3.09% | MOOG INC-CLASS A 1.56% |
| CRANE COMPANY 3.06% | LIG DEFENSE&AEROSPACE CO LTD 1.01% |
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 | SHLD | GCAD | SHLD | GCAD | SHLD | |
| 3 months | −11.3% | +0.9% | −13.5 pts | −1.3 pts | −8.8 pts | +3.4 pts |
| 6 months | −0.8% | −14.0% | −18.8 pts | −32.1 pts | −25.0 pts | −38.3 pts |
| 1 year | +14.2% | −5.1% | −2.4 pts | −21.7 pts | −7.6 pts | −26.9 pts |
| 3 years | +120.8% | +156.1% | +42.4 pts | +77.7 pts | +22.6 pts | +57.9 pts |
| Since launch | +121.0% | +157.7% | +12.9 pts | +80.2 pts | −56.0 pts | +61.5 pts |
| GCAD Gabelli Commercial Aerospace and Defense ETF Holds 54 stocks in defense, 40% of its weight in S&P 500 companies | SHLD Global X Defense Tech ETF Holds 59 stocks in defense, 40% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Gabelli | Global X |
| Theme | Defense | Defense |
| In the S&P 500 | 40.2% | 39.9% |
| Active share vs the S&P 500 | 97.2% | 99.1% |
| In the Nasdaq-100 | 2.5% | 0.0% |
| Holdings | 54 | 59 |
| Top ten, share of the fund | 47.5% | 64.4% |
| Expense ratio | 0.90% | 0.50% |
| Fee for the differing part | 0.93% | 0.50% |
| Total return, 1 year | +14.2% | −5.1% |
| vs the S&P 500 | −2.4 pts | −21.7 pts |
| vs the Nasdaq-100 | −7.6 pts | −26.9 pts |
| Below its high | −14.2% | −19.4% |
| Net assets | $44m | $7.1bn |
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.
SHLD in plain words
By weight, 40% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 64% of the fund across 59 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −5.1% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 21.7 pts. It sits 19.4% below its all-time high of Mar 9, 2026.
Questions people ask
- Do GCAD and SHLD hold the same stocks?
- By their latest filings, 24% 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 SHLD?
- GCAD has 40% of its weight in S&P 500 names and SHLD has 40%, so SHLD differs more from the index.
- Which is cheaper, GCAD or SHLD?
- GCAD charges 0.90% a year and SHLD charges 0.50%, so SHLD 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 SHLD, data as of Sep 18, 2026. https://etfiq.com/compare/themes/gcad-vs-shld Free to use with attribution; the underlying files are at Open data.