Data as of .
GCAD vs WDEF: which is really different?
GCAD and WDEF hold 8% of their weight in the same names, and GCAD 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
8% 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 WDEF hold 8% of their money in the same securities at the same weight.
| Holding | GCAD | WDEF |
|---|---|---|
| AAR CORP | 1.67% | 5.34% |
| RENK GROUP AG | 0.65% | 2.51% |
| RHEINMETALL AG | 0.46% | 8.70% |
| SENIOR PLC | 0.64% | 0.25% |
| Only in GCAD | Only in WDEF |
|---|---|
| ALBANY INTERNATIONAL CORP 6.84% | BAE SYSTEMS PLC 10.21% |
| MOOG INC 6.20% | THALES SA 10.14% |
| BOEING COMPANY (THE) 5.20% | SAFRAN SA 5.62% |
| DUCOMMUN INC 4.74% | ROLLS-ROYCE HOLDINGS PLC 5.57% |
| HEXCEL CORP 4.58% | SAAB AB 4.83% |
| RTX CORP 4.14% | LEONARDO SPA 4.79% |
| L3HARRIS TECHNOLOGIES INC 4.01% | KONGSBERG GRUPPEN ASA 4.61% |
| LOCKHEED MARTIN CORP 3.98% | DASSAULT AVIATION SA 4.14% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| GCAD | WDEF | GCAD | WDEF | GCAD | WDEF | |
| 3 months | −11.3% | +2.9% | −13.5 pts | +0.7 pts | −8.8 pts | +5.4 pts |
| 6 months | −0.8% | −6.0% | −18.8 pts | −24.1 pts | −25.0 pts | −30.3 pts |
| 1 year | +14.2% | −7.6% | −2.4 pts | −24.1 pts | −7.6 pts | −29.4 pts |
| 3 years | +120.8% | not published | +42.4 pts | not published | +22.6 pts | not published |
| Since launch | +121.0% | −2.7% | +12.9 pts | −25.7 pts | −56.0 pts | −31.8 pts |
| GCAD Gabelli Commercial Aerospace and Defense ETF Holds 54 stocks in defense, 40% 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 | Gabelli | WisdomTree |
| Theme | Defense | Defense |
| In the S&P 500 | 40.2% | 0.0% |
| Active share vs the S&P 500 | 97.2% | 100.0% |
| In the Nasdaq-100 | 2.5% | 0.0% |
| Holdings | 54 | 42 |
| Top ten, share of the fund | 47.5% | 63.9% |
| Expense ratio | 0.90% | 0.45% |
| Fee for the differing part | 0.93% | 0.45% |
| Total return, 1 year | +14.2% | −7.6% |
| vs the S&P 500 | −2.4 pts | −24.1 pts |
| vs the Nasdaq-100 | −7.6 pts | −29.4 pts |
| Below its high | −14.2% | −15.7% |
| Net assets | $44m | $83m |
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.
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 GCAD and WDEF hold the same stocks?
- By their latest filings, 8% 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, GCAD or WDEF?
- GCAD has 40% of its weight in S&P 500 names and WDEF has 0%, so WDEF differs more from the index.
- Which is cheaper, GCAD or WDEF?
- GCAD charges 0.90% 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, GCAD against WDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/gcad-vs-wdef Free to use with attribution; the underlying files are at Open data.