Data as of Oct 28, 2026.
ITA vs XAR: Holdings Overlap & Returns
Over the year to Oct 28, 2026, ITA returned −4.3% to XAR's −10.0%; 54% of their weight is in the same names.
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Net assets on Oct 27, 2026: $12.0bn for iShares U.S. Aerospace & Defense ETF and $5.0bn for State Street SPDR S&P Aerospace & Defense ETF.
81% of ITA's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Oct 27, 2026.
40% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Oct 27, 2026.
Pair scorecard
XAR costs 0.02 points a year less; their one-year returns differ by 5.7 points; ITA is 2.4 times larger.
Points (pts) are percentage points.
| Measure | ITA | XAR |
|---|---|---|
| Return | ||
| Total return, 1 year | −4.3% | −10.0% |
| Drawdown | ||
| Below its all-time high | 17.9%, high on Aug 14, 2026 | 24.1%, high on Aug 14, 2026 |
| Against its benchmark | ||
| What it tracks | Defense | Defense |
| Against the S&P 500, 1 year | behind by 23.7 pts | |
| Its benchmark, total return, 1 year | +13.7% | |
| Against its benchmark, 1 year | behind by 23.7 pts | |
| Cost and size | ||
| Expense ratio | 0.37% | 0.35% |
| Net assets, as of Oct 27, 2026 | $12.0bn | $5.0bn |
| Holdings | ||
| Holdings in common | 54% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Oct 7, 2011 to Oct 23, 2026 · 785 weekly returnsXAR returned more: +905.6% to +758.6%. ITA swung slightly less: 22.2% to 23.3%. XAR fell slightly less at its worst: −45.1% to −49.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ITA | XAR | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +758.6% | +905.6% | XAR | Price change plus distributions, reinvested. |
| Annualized | +15.3% | +16.5% | XAR (slight) | Total return as a yearly rate. |
| Price return | +626.7% | +760.2% | XAR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 22.2% | 23.3% | ITA (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.1% | 15.5% | ITA (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −49.3% | −45.1% | XAR (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.68 | 0.70 | XAR (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.00 | 1.05 | XAR (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.31 | 0.37 | XAR | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 785 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ITA and XAR hold 54% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
54% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | ITA | XAR | ITA | XAR |
| 3 months | −12.0% | −12.8% | not measured | −18.9 pts vs VOO |
| 6 months | −2.4% | −9.9% | not measured | −19.0 pts vs VOO |
| 1 year | −4.3% | −10.0% | not measured | −23.7 pts vs VOO |
| 3 years | +97.8% | +103.5% | not measured | +8.0 pts vs VOO |
| Since launchNot the same days: ITA May 2006 · XAR Sep 2011 | +892.2% | +945.4% | not measured | +171.9 pts vs VOO |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
54% of the two portfolios are the same securities at the same weight.
ITA and XAR are built for the same job. How do they differ in cost, holdings and results?
- Concentration. The top ten holdings are 76.1% of ITA and 32.2% of XAR, a gap of 43.9 points.
- One-year total return. Over 1 year to Oct 28, 2026 ITA returned −4.3% and XAR −10.0% with distributions reinvested, a gap of 5.7 points.
- What each follows (similar). Both follow Defense.
Data as of Oct 28, 2026.
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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 Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −4.3% with distributions reinvested. It sits 17.9% below its all-time high of Aug 14, 2026.
XAR
By weight, 40% of XAR'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 32% of the fund across 50 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −10.0% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 23.7 pts. It sits 24.1% below its all-time high of Aug 14, 2026.
Questions people ask
- Do ITA and XAR hold the same stocks?
- By their latest filings, 54% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, ITA against XAR, data as of Oct 28, 2026. https://etfiq.com/compare/themes/ita-vs-xar
ETFIQ. (Oct 28, 2026). ITA against XAR. Retrieved from https://etfiq.com/compare/themes/ita-vs-xar
[ITA against XAR (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/ita-vs-xar)
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