Do MISL and WR hold the same stocks?

By their latest filings, 31% 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 WR?

MISL has 66% of its weight in S&P 500 names and WR has 68%, so MISL differs more from the index.

Which is cheaper, MISL or WR?

MISL charges 0.60% a year and WR charges 0.35%, so WR is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

MISL vs WR: Holdings Overlap & Returns

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MISL and WR hold 31% 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 $932,169 on Nov 4, 2026 for Corgi U.S. War Machine ETF.

MISL on its own →WR on its own →

At a glance

65.9%

MISL in the S&P 500

68.0%

WR in the S&P 500

−2.3%

MISL total return, 1 year

+6.4%

WR total return, 6 months

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.

WR · 6 months to Nov 4, 2026 32% of its weight is outside the S&P 500

68% of WR's weight is in S&P 500 companies and 32% is outside the index. Holdings as of Nov 4, 2026.

Pair scorecard

WR costs 0.25 points a year less.

Points (pts) are percentage points.

MISL vs WR: Holdings Overlap & Returns
Measure	MISL	WR
Return
Measure	MISL	WR
Total return, 1 year	−2.3%	not published
Drawdown
Measure	MISL	WR
Below its all-time high	19.1%, high on Jan 16, 2026	7.2%, high on Oct 30, 2026
Against its benchmark
Measure	MISL	WR
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	WR
Expense ratio	0.60%	0.35%
Net assets, as of Nov 3, 2026	$685m	$974,606
Holdings
Measure	MISL	WR
Holdings in common	31%

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

IQ Themes Score81.1MISL75WR

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

WR 75

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

Risk and return

May 15, 2026 to Oct 30, 2026 · 24 weekly returns

MISL WR

Return

Total return edge WR −6.6% +12.4%

Price return edge WR −6.6% +12.4%

Risk

Max drawdown edge WR −16.7% −7.0%

Reading

From May 2026 to Oct 2026, WR returned more: +12.4% to −6.6%. WR fell less at its worst: −7.0% to −16.7%.

Full scorecard

3 measures, with how each is measured Open ↓

Risk and return: MISL vs WR: Holdings Overlap & Returns
Measure	MISL	WR	Edge	How it is measured
Return
Total return	−6.6%	+12.4%	WR	Price change plus distributions, reinvested.
Price return	−6.6%	+12.4%	WR	Price change alone, distributions left out.
Risk
Max drawdown	−16.7%	−7.0%	WR	Deepest fall from a high to the low after it.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 24 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

31%

By the books each fund has filed, MISL and WR hold 31% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

31% in common

Positions both hold · largest shared weight first MISL WR

Palantir Technologies Inc. (Class A) 6.60% 5.54%

RTX Corporation 8.62% 5.22%

Lockheed Martin Corporation 4.93% 4.02%

General Dynamics Corporation 4.45% 3.01%

Howmet Aerospace Inc. 3.90% 2.41%

TransDigm Group Incorporated 4.29% 1.83%

Leidos Holdings, Inc. 1.79% 1.12%

Rocket Lab Corporation 3.14% 1.10%

CACI International Inc. 1.59% 0.95%

Huntington Ingalls Industries, Inc. 1.32% 0.91%

Moog Inc. 1.21% 0.73%

Science Applications International Corporation 0.67% 0.90%

Only in one fund ↓

Only in MISL

GE Aerospace 8.18%

The Boeing Company 7.16%

Space Exploration Technologies Corp. (Class A) 6.84%

L3Harris Technologies, Inc. 4.61%

Northrop Grumman Corporation 4.50%

HEICO Corporation 4.24%

Honeywell Aerospace Inc. 3.92%

FTAI Aviation Ltd. 2.18%

Only in WR

ExxonMobil Holdings Corp 9.02%

Chevron Corp 6.68%

Marathon Petroleum Corp 4.13%

ConocoPhillips 4.11%

Phillips 66 3.90%

Valero Energy Corp 3.84%

EOG Resources Inc 2.76%

Williams Cos Inc 2.50%

Check overlap with more funds →

Window by window

Window by window: MISL vs WR: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	MISL	WR	MISL	WR
3 months	−10.2%	+2.8%	−10.1 pts vs VOO	not measured
6 months	−7.5%	+6.4%	−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 · WR May 2026	+103.7%	+6.4%	−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 WR Corgi U.S. War Machine ETF · Holds 56 stocks in defense, 68% of its weight in S&P 500 companies

Issuer First Trust Corgi

Theme Defense Defense

In the S&P 500 65.9% 68.0%

Active share vs the S&P 500 97.4% 96.6%

In the Nasdaq-100 20.5% 9.9%

Holdings 44 56

Top ten, share of the fund 60.2% 49.5%

Expense ratio 0.60% 0.35%

Fee for the differing part 0.62% 0.36%

Total return, 1 year −2.3% +6.4% (since launch, May 6, 2026)

vs its benchmark −17.1 pts vs VOO not measured

Below its high −19.1% −7.2%

Net assets, MISL as of Nov 3, 2026 and WR as of Nov 4, 2026 $685m $932,169

As of Nov 4, 2026. Source: ETFIQ.

31% of the two portfolios are the same securities at the same weight.

Client brief

No client brief for this pair: ETFIQ prints no one-year total return for WR.

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.

By weight, 68% of WR'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 50% of the fund across 56 positions, as published by its issuer for Nov 4, 2026. Since it first traded on May 6, 2026 the fund returned +6.4% with distributions reinvested. It sits 7.2% below its all-time high of Oct 30, 2026.

Questions people ask

Do MISL and WR hold the same stocks?: By their latest filings, 31% 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 WR?: MISL has 66% of its weight in S&P 500 names and WR has 68%, so MISL differs more from the index.
Which is cheaper, MISL or WR?: MISL charges 0.60% a year and WR charges 0.35%, so WR is cheaper. Fees come from each fund's prospectus.

Other comparisons

MISL vs AV MISL vs DUTY MISL vs AMMO MISL vs WDGF WR vs XAR WR vs ARMY WR vs TSSD WR vs XDEF

Where to next

MISL on its own →WR on its own →MISL dividend history →MISL holdings →WR 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 ↗

WR filings on SEC EDGAR ↗

WR prospectus with the expense ratio (SEC) ↗

Corgi 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.

Cite this pageCitation, APA and Markdown

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

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