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Data as of Nov 4, 2026.

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Thematic ETFs

GUNR vs ITA: Holdings Overlap & Returns

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ITA holds 80.8% of its weight in S&P 500 companies and GUNR 27.1%.

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Net assets: $7.2bn on Jul 31, 2026 for Northern Trust Morningstar Global Upstream Natural Resources ETF, and $12.2bn on Nov 4, 2026 for iShares U.S. Aerospace & Defense ETF.

GUNR on its own →ITA on its own →
At a glance
27.1%
GUNR in the S&P 500
80.8%
ITA in the S&P 500
+26.8%
GUNR total return, 1 year
+0.8%
ITA total return, 1 year
GUNR · 1 year to Nov 4, 2026 73% of its weight is outside the S&P 500
73% of its weight is outside the S&P 50027% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.27%73%in the S&P 500of its weight outside the S&P 500active share 98% · top ten 37% of the fund · 135 holdings as filed for Jul 31, 2026 · Nasdaq-100: 0% in73% of its weight is outside the S&P 50027% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.27%73%inoutside the S&P 500active share 98% · Nasdaq-100: 0% in

27% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.

ITA · 1 year to Nov 4, 2026 19% of its weight is outside the S&P 500
19% of its weight is outside the S&P 50081% of ITA's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Nov 3, 2026.81%19%of its weight in S&P 500 companiesoutside the S&P 500active share 98% · top ten 76% of the fund · 51 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 9% in19% of its weight is outside the S&P 50081% of ITA's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Nov 3, 2026.81%19%in the S&P 50019% of its weight outside the S&P 500active share 98% · Nasdaq-100: 9% in

81% of ITA's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

ITA costs 0.09 points a year less; their one-year returns differ by 26.0 points.

GUNR vs ITA: Holdings Overlap & Returns
MeasureGUNRITA
Return
Total return, 1 year+26.8%+0.8%
Drawdown
Below its all-time high7.5%, high on Sep 9, 202615.8%, high on Aug 14, 2026
Benchmark
What it tracksNatural resourcesDefense
Cost and size
Expense ratio0.46%0.37%
Net assets, GUNR as of Jul 31, 2026 and ITA as of Nov 4, 2026$7.2bn$12.2bn
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: GUNR vs ITA: Holdings Overlap & Returns
Total return
WindowGUNRITA
3 months+1.3%−15.5%
6 months−2.5%−4.6%
1 year+26.8%+0.8%
3 years+45.4%+91.7%
Since launchNot the same days: GUNR Sep 2011 · ITA May 2006+149.3%+916.6%

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Side by side

GUNR Northern Trust Morningstar Global Upstream Natural Resources ETF · Holds 135 stocks in natural resources, 27% of its weight in S&P 500 companies ITA iShares U.S. Aerospace & Defense ETF · Holds 51 stocks in defense, 81% of its weight in S&P 500 companies
Issuer Northern Trust iShares
Theme Natural resources Defense
In the S&P 500 27.1% 80.8%
Active share vs the S&P 500 98.3% 97.7%
In the Nasdaq-100 0.4% 8.5%
Holdings 135 51
Top ten, share of the fund 36.6% 76.3%
Expense ratio 0.46% 0.37%
Fee for the differing part 0.47% 0.38%
Total return, 1 year +26.8% +0.8%
vs its benchmark not measured not measured
Below its high −7.5% −15.8%
Net assets, GUNR as of Jul 31, 2026 and ITA as of Nov 4, 2026 $7.2bn $12.2bn

As of Nov 4, 2026. Source: ETFIQ.

Client brief:

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About each fund
GUNR

By weight, 27% of GUNR'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 37% of the fund across 135 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +26.8% with distributions reinvested. It sits 7.5% below its all-time high of Sep 9, 2026.

ITA

By weight, 81% 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 76% of the fund across 51 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +0.8% with distributions reinvested. It sits 15.8% below its all-time high of Aug 14, 2026.

Questions people ask

Which is more different from the S&P 500, GUNR or ITA?
GUNR has 27% of its weight in S&P 500 names and ITA has 81%, so GUNR differs more from the index.
Which is cheaper, GUNR or ITA?
GUNR charges 0.46% a year and ITA charges 0.37%, so ITA is cheaper. Fees come from each fund's prospectus.
Other comparisons
GUNR vs PPAGUNR vs SHLDGUNR vs XARGUNR vs NLRITA vs GNRITA vs URAITA vs QTUMITA vs SIL
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GUNR on its own →ITA on its own →GUNR dividend history →ITA dividend history →ITA holdings →Method →Standards and sources →
Sources and dates
GUNR filings on SEC EDGAR ↗
GUNR prospectus with the expense ratio (SEC) ↗
Northern Trust website ↗
ITA filings on SEC EDGAR ↗
ITA prospectus with the expense ratio (SEC) ↗
iShares page for ITA ↗

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

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, GUNR against ITA, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gunr-vs-ita

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