Do MISL and TSSD hold the same stocks?

By their latest filings, 42% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, MISL or TSSD?

MISL has 66% of its weight in S&P 500 names and TSSD has 71%, so TSSD differs more from the index.

Which is cheaper, MISL or TSSD?

MISL charges 0.60% a year and TSSD charges 0.65%, so MISL is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

MISL vs TSSD: Holdings Overlap & Returns

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MISL and TSSD hold 42% of their weight in the same names.

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Net assets: $685m on Nov 3, 2026 for First Trust Indxx Aerospace & Defense ETF, and $7.0m on Jun 30, 2026 for Truth Social American Security & Defense ETF.

MISL on its own →TSSD on its own →

At a glance

65.9%

MISL in the S&P 500

71.4%

TSSD in the S&P 500

−2.3%

MISL total return, 1 year

+17.1%

TSSD total return, since launch, Dec 30, 2025

MISL · 1 year to Nov 4, 2026 34% of its weight is outside the S&P 500

66% of MISL's weight is in S&P 500 companies and 34% is outside the index. Holdings as of Nov 3, 2026.

TSSD · 6 months to Nov 4, 2026 29% of its weight is outside the S&P 500

71% of TSSD's weight is in S&P 500 companies and 29% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

MISL costs 0.05 points a year less.

Points (pts) are percentage points.

MISL vs TSSD: Holdings Overlap & Returns
Measure	MISL	TSSD
Return
Measure	MISL	TSSD
Total return, 1 year	−2.3%	not published
Drawdown
Measure	MISL	TSSD
Below its all-time high	19.1%, high on Jan 16, 2026	9.4%, high on Aug 13, 2026
Against its benchmark
Measure	MISL	TSSD
What it tracks	Defense	Defense
Against the S&P 500, 1 year	behind by 17.1 pts
Its benchmark, total return, 1 year	+14.8%
Against its benchmark, 1 year	behind by 17.1 pts
Cost and size
Measure	MISL	TSSD
Expense ratio	0.60%	0.65%
Net assets, MISL as of Nov 3, 2026 and TSSD as of Jun 30, 2026	$685m	$7.0m
Holdings
Measure	MISL	TSSD
Holdings in common	42%

ETFIQ S&P 500 Difference Score · TSSD scores higher How much of its weight does it not share with the S&P 500?

IQ Themes Score81.1MISL84.2TSSD

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

MISL 81.1

TSSD 84.2

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

42%

By the books each fund has filed, MISL and TSSD hold 42% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

42% in common

Positions both hold · largest shared weight first MISL TSSD

RTX Corporation 8.62% 7.08%

Palantir Technologies Inc. (Class A) 6.60% 6.78%

Lockheed Martin Corporation 4.93% 5.50%

General Dynamics Corporation 4.45% 4.91%

L3Harris Technologies, Inc. 4.61% 4.08%

Northrop Grumman Corporation 4.50% 4.00%

Curtiss-Wright Corporation 1.95% 2.76%

Leidos Holdings, Inc. 1.79% 1.29%

Moog Inc. 1.21% 1.00%

CACI International Inc. 1.59% 0.96%

Huntington Ingalls Industries, Inc. 1.32% 0.88%

Kratos Defense & Security Solutions, Inc. 0.82% 0.94%

Only in one fund ↓

Only in MISL

GE Aerospace 8.18%

The Boeing Company 7.16%

Space Exploration Technologies Corp. (Class A) 6.84%

TransDigm Group Incorporated 4.29%

HEICO Corporation 4.24%

Honeywell Aerospace Inc. 3.92%

Howmet Aerospace Inc. 3.90%

Rocket Lab Corporation 3.14%

Only in TSSD

Palo Alto Networks Inc 9.70%

Crowdstrike Holdings Inc 7.24%

Fortinet Inc 5.75%

Cloudflare Inc 4.75%

Axon Enterprise Inc 4.57%

Teledyne Technologies Inc 2.90%

Okta Inc 2.12%

VeriSign Inc 2.06%

Check overlap with more funds →

Window by window

Window by window: MISL vs TSSD: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	MISL	TSSD	MISL	TSSD
3 months	−10.2%	−4.9%	−10.1 pts vs VOO	not measured
6 months	−7.5%	+19.4%	−12.5 pts vs VOO	not measured
1 year	−2.3%	–	−17.1 pts vs VOO	–
3 years	+79.3%	–	−4.0 pts vs VOO	–
Since launchNot the same days: MISL Oct 2022 · TSSD Dec 2025	+103.7%	+17.1%	−8.3 pts vs VOO	not measured

– means no data for this window. Open this comparison in the app →

Side by side

MISL First Trust Indxx Aerospace & Defense ETF · Holds 44 stocks in defense, 66% of its weight in S&P 500 companies TSSD Truth Social American Security & Defense ETF · Holds 62 stocks in defense, 71% of its weight in S&P 500 companies

Issuer First Trust Yorkville

Theme Defense Defense

In the S&P 500 65.9% 71.4%

Active share vs the S&P 500 97.4% 97.6%

In the Nasdaq-100 20.5% 34.0%

Holdings 44 62

Top ten, share of the fund 60.2% 60.4%

Expense ratio 0.60% 0.65%

Fee for the differing part 0.62% 0.67%

Total return, 1 year −2.3% +17.1% (since launch, Dec 30, 2025)

vs its benchmark −17.1 pts vs VOO not measured

Below its high −19.1% −9.4%

Net assets, MISL as of Nov 3, 2026 and TSSD as of Jun 30, 2026 $685m $7.0m

As of Nov 4, 2026. Source: ETFIQ.

42% of the two portfolios are the same securities at the same weight.

Alert

About each fund

MISL

By weight, 66% of MISL'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 60% of the fund across 44 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −2.3% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 17.1 pts. It sits 19.1% below its all-time high of Jan 16, 2026.

TSSD

By weight, 71% of TSSD'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 60% of the fund across 62 positions, as filed for Jun 30, 2026. Since it first traded on Dec 30, 2025 the fund returned +17.1% with distributions reinvested. It sits 9.4% below its all-time high of Aug 13, 2026.

Questions people ask

Do MISL and TSSD hold the same stocks?: By their latest filings, 42% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, MISL or TSSD?: MISL has 66% of its weight in S&P 500 names and TSSD has 71%, so TSSD differs more from the index.
Which is cheaper, MISL or TSSD?: MISL charges 0.60% a year and TSSD charges 0.65%, so MISL is cheaper. Fees come from each fund's prospectus.

Other comparisons

MISL vs WR MISL vs AV MISL vs WDGF MISL vs XDEF TSSD vs XAR TSSD vs WDEF TSSD vs WAR TSSD vs WDAF

Where to next

MISL on its own →TSSD on its own →MISL dividend history →MISL holdings →TSSD dividend history →TSSD holdings →Method →Standards and sources →

Sources and dates

MISL filings on SEC EDGAR ↗

MISL prospectus with the expense ratio (SEC) ↗

First Trust page for MISL ↗

TSSD filings on SEC EDGAR ↗

TSSD prospectus with the expense ratio (SEC) ↗

Yorkville website ↗

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

How this is computed

It is a place in a set, not a rating or a recommendation.

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, MISL against TSSD, data as of Nov 4, 2026. https://etfiq.com/compare/themes/misl-vs-tssd

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.