Data as of .
SHLD vs WDAF: which is really different?
SHLD and WDAF hold 7% of their weight in the same names, and WDAF returned more over the year.
ETFIQ Off-Index Score: WDAF 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
7% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, SHLD and WDAF hold 7% of their money in the same securities at the same weight.
| Holding | SHLD | WDAF |
|---|---|---|
| HANWHA AEROSPACE CO LTD | 3.86% | 7.32% |
| LIG DEFENSE&AEROSPACE CO LTD | 1.01% | 7.01% |
| HANWHA SYSTEMS CO LTD | 0.66% | 3.66% |
| DRONESHIELD LTD | 0.16% | 1.51% |
| AUSTAL LTD | 0.11% | 1.07% |
| Only in SHLD | Only in WDAF |
|---|---|
| PALANTIR TECHNOLOGIES INC-A 10.77% | HINDUSTAN AERONAUTICS LTD 8.01% |
| RTX CORPORATION 9.10% | BHARAT ELECTRONICS LTD 7.82% |
| GENERAL DYNAMICS CORP 8.54% | KOREA AEROSPACE INDUSTRIES LTD 7.70% |
| LOCKHEED MARTIN CORP 8.29% | HYUNDAI ROTEM COMPANY 6.84% |
| NORTHROP GRUMMAN CORP 7.88% | IHI CORP 4.58% |
| BAE SYSTEMS PLC 4.72% | KAWASAKI HEAVY INDUSTRIES LTD 4.22% |
| RHEINMETALL AG 3.80% | MITSUBISHI HEAVY INDUSTRIES LTD 4.17% |
| THALES SA 3.76% | SINGAPORE TECHNOLOGIES ENGINEERING LTD 3.96% |
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 Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| SHLD | WDAF | SHLD | WDAF | SHLD | WDAF | |
| 3 months | +0.9% | −8.2% | −1.3 pts | −10.5 pts | +3.4 pts | −5.8 pts |
| 6 months | −14.0% | −4.9% | −32.1 pts | −22.9 pts | −38.3 pts | −29.1 pts |
| 1 year | −5.1% | −1.4% | −21.7 pts | −17.9 pts | −26.9 pts | −23.1 pts |
| 3 years | +156.1% | not published | +77.7 pts | not published | +57.9 pts | not published |
| Since launch | +157.7% | −0.1% | +80.2 pts | −17.5 pts | +61.5 pts | −23.7 pts |
| SHLD Global X Defense Tech ETF Holds 59 stocks in defense, 40% of its weight in S&P 500 companies | WDAF WisdomTree Asia Defense Fund Holds 61 stocks in defense, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Global X | WisdomTree |
| Theme | Defense | Defense |
| In the S&P 500 | 39.9% | 0.0% |
| Active share vs the S&P 500 | 99.1% | 100.0% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 59 | 61 |
| Top ten, share of the fund | 64.4% | 61.6% |
| Expense ratio | 0.50% | 0.45% |
| Fee for the differing part | 0.50% | 0.45% |
| Total return, 1 year | −5.1% | −1.4% |
| vs the S&P 500 | −21.7 pts | −17.9 pts |
| vs the Nasdaq-100 | −26.9 pts | −23.1 pts |
| Below its high | −19.4% | −18.8% |
| Net assets | $7.1bn | $12m |
SHLD in plain words
By weight, 40% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 64% of the fund across 59 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −5.1% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 21.7 pts. It sits 19.4% below its all-time high of Mar 9, 2026.
WDAF in plain words
By weight, 0% of WDAF'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 62% of the fund across 61 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −1.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 17.9 pts. It sits 18.8% below its all-time high of May 5, 2026.
Questions people ask
- Do SHLD and WDAF hold the same stocks?
- By their latest filings, 7% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, SHLD or WDAF?
- SHLD has 40% of its weight in S&P 500 names and WDAF has 0%, so WDAF differs more from the index.
- Which is cheaper, SHLD or WDAF?
- SHLD charges 0.50% a year and WDAF charges 0.45%, so WDAF 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, SHLD against WDAF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/shld-vs-wdaf Free to use with attribution; the underlying files are at Open data.