Data as of Nov 4, 2026.
MISL vs XDEF: Holdings Overlap & Returns
MISL and XDEF hold 0% 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 $4.3m on Nov 2, 2026 for Xtrackers Europe Defense Technologies ETF.
66% of MISL's weight is in S&P 500 companies and 34% is outside the index. Holdings as of Nov 3, 2026.
0% of XDEF's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Aug 31, 2026.
Pair scorecard
XDEF costs 0.25 points a year less; MISL is far larger, $680m against $4.3m.
Points (pts) are percentage points.
| Measure | MISL | XDEF |
|---|---|---|
| Return | ||
| Total return, 1 year | −2.3% | not published |
| Drawdown | ||
| Below its all-time high | 19.1%, high on Jan 16, 2026 | 13.0%, high on Feb 20, 2026 |
| Against its benchmark | ||
| 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 | ||
| Expense ratio | 0.60% | 0.35% |
| Net assets, as of Nov 2, 2026 | $680m | $4.3m |
| Holdings | ||
| Holdings in common | 0% | |
What they share
By the books each fund has filed, MISL and XDEF hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | MISL | XDEF | MISL | XDEF |
| 3 months | −10.2% | −9.7% | −10.1 pts vs VOO | not measured |
| 6 months | −7.5% | −5.7% | −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 · XDEF Feb 2026 | +103.7% | −12.4% | −8.3 pts vs VOO | not measured |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
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.
XDEF
By weight, 0% of XDEF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 64% of the fund across 35 positions, as filed for Aug 31, 2026. Since it first traded on Feb 19, 2026 the fund returned −12.4% with distributions reinvested. It sits 13.0% below its all-time high of Feb 20, 2026.
Questions people ask
- Do MISL and XDEF hold the same stocks?
- By their latest filings, 0% 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.
Cite this pageCitation, APA and Markdown
ETFIQ, MISL against XDEF, data as of Nov 4, 2026. https://etfiq.com/compare/themes/misl-vs-xdef
ETFIQ. (Nov 4, 2026). MISL against XDEF. Retrieved from https://etfiq.com/compare/themes/misl-vs-xdef
[MISL against XDEF (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/misl-vs-xdef)
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