Data as of .
ITA vs MISL: which is really different?
ITA and MISL hold 61% of their weight in the same names, and MISL 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
61% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, ITA and MISL hold 61% of their money in the same securities at the same weight.
| Holding | ITA | MISL |
|---|---|---|
| RTX | 16.38% | 8.30% |
| BOEING | 7.72% | 7.48% |
| GE AEROSPACE | 20.42% | 7.34% |
| LOCKHEED MARTIN CORP | 4.66% | 4.27% |
| NORTHROP GRUMMAN CORP | 4.69% | 4.10% |
| GENERAL DYNAMICS CORP | 4.59% | 3.95% |
| HOWMET AEROSPACE | 4.53% | 3.56% |
| TRANSDIGM GROUP | 4.43% | 3.53% |
| L3HARRIS TECHNOLOGIES | 3.46% | 3.57% |
| ROCKET LAB CORP | 2.67% | 3.34% |
| CURTISS WRIGHT | 1.58% | 2.37% |
| FTAI AVIATION | 1.47% | 2.21% |
| Only in ITA | Only in MISL |
|---|---|
| HONEYWELL AEROSPACE INC 3.91% | Palantir Technologies Inc. (Class A) 11.75% |
| AXON ENTERPRISE 2.74% | Space Exploration Technologies Corp. (Class A) 8.81% |
| ATI 1.96% | AST SpaceMobile, Inc. 2.56% |
| CARPENTER TECHNOLOGY 1.52% | Leidos Holdings, Inc. 1.81% |
| HEICO CLASS A 1.26% | CACI International Inc. 1.56% |
| BWX TECHNOLOGIES INC 1.02% | Moog Inc. 1.31% |
| MOOG INC CLASS A 0.78% | Science Applications International Corporation 0.64% |
| STANDARDAERO 0.37% | Parsons Corporation 0.54% |
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 Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ITA | MISL | ITA | MISL | ITA | MISL | |
| 3 months | −10.4% | −8.7% | −12.7 pts | −10.9 pts | −7.9 pts | −6.2 pts |
| 6 months | −3.7% | −7.5% | −21.8 pts | −25.5 pts | −28.0 pts | −31.7 pts |
| 1 year | +5.6% | +6.4% | −10.9 pts | −10.2 pts | −16.1 pts | −15.4 pts |
| 3 years | +100.0% | +93.1% | +21.6 pts | +14.7 pts | +1.9 pts | −5.1 pts |
| Since launch | +884.1% | +109.5% | +80.5 pts | −0.6 pts | −806.1 pts | −56.0 pts |
| ITA iShares U.S. Aerospace & Defense ETF Holds 52 stocks in defense, 79% of its weight in S&P 500 companies | MISL First Trust Indxx Aerospace & Defense ETF Holds 40 stocks in defense, 62% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | iShares | First Trust |
| Theme | Defense | Defense |
| In the S&P 500 | 79.3% | 62.4% |
| Active share vs the S&P 500 | 97.9% | 97.5% |
| In the Nasdaq-100 | 2.9% | 11.8% |
| Holdings | 52 | 40 |
| Top ten, share of the fund | 77.3% | 63.1% |
| Expense ratio | 0.37% | 0.60% |
| Fee for the differing part | 0.38% | 0.62% |
| Total return, 1 year | +5.6% | +6.4% |
| vs the S&P 500 | −10.9 pts | −10.2 pts |
| vs the Nasdaq-100 | −16.1 pts | −15.4 pts |
| Below its high | −15.4% | −16.9% |
| Net assets | $12.5bn | $704m |
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.
MISL in plain words
By weight, 62% of MISL'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 63% of the fund across 40 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned +6.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 10.2 pts. It sits 16.9% below its all-time high of Jan 16, 2026.
Questions people ask
- Do ITA and MISL hold the same stocks?
- By their latest filings, 61% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, ITA or MISL?
- ITA has 79% of its weight in S&P 500 names and MISL has 62%, so ITA differs more from the index.
- Which is cheaper, ITA or MISL?
- ITA charges 0.37% a year and MISL charges 0.60%, 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, ITA against MISL, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ita-vs-misl Free to use with attribution; the underlying files are at Open data.