Data as of .
SHLD vs WDEF: which is really different?
SHLD and WDEF hold 22% of their weight in the same names, and SHLD returned more over the year.
ETFIQ Off-Index Score: WDEF 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
22% 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 WDEF hold 22% of their money in the same securities at the same weight.
| Holding | SHLD | WDEF |
|---|---|---|
| BAE SYSTEMS PLC | 4.72% | 10.21% |
| RHEINMETALL AG | 3.80% | 8.70% |
| THALES SA | 3.76% | 10.14% |
| LEONARDO SPA | 3.56% | 4.79% |
| KONGSBERG GRUPPEN ASA | 2.16% | 4.61% |
| DASSAULT AVIATION SA | 0.87% | 4.14% |
| HENSOLDT AG | 0.84% | 4.13% |
| CSG NV | 0.42% | 1.25% |
| QINETIQ GROUP PLC | 0.38% | 1.40% |
| TKMS AG& CO KGAA | 0.38% | 2.96% |
| CHEMRING GROUP PLC | 0.28% | 0.88% |
| BITTIUM OYJ | 0.19% | 0.66% |
| Only in SHLD | Only in WDEF |
|---|---|
| PALANTIR TECHNOLOGIES INC-A 10.77% | SAFRAN SA 5.62% |
| RTX CORPORATION 9.10% | ROLLS-ROYCE HOLDINGS PLC 5.57% |
| GENERAL DYNAMICS CORP 8.54% | AIRBUS SE 5.34% |
| LOCKHEED MARTIN CORP 8.29% | SAAB AB 4.83% |
| NORTHROP GRUMMAN CORP 7.88% | BABCOCK INTERNATIONAL GROUP PLC 3.10% |
| HANWHA AEROSPACE CO LTD 3.86% | INDRA SISTEMAS SA 2.98% |
| L3HARRIS TECHNOLOGIES INC 3.69% | MELROSE INDUSTRIES PLC 2.54% |
| SAAB AB-B 3.47% | RENK GROUP AG 2.51% |
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 | WDEF | SHLD | WDEF | SHLD | WDEF | |
| 3 months | +0.9% | +2.9% | −1.3 pts | +0.7 pts | +3.4 pts | +5.4 pts |
| 6 months | −14.0% | −6.0% | −32.1 pts | −24.1 pts | −38.3 pts | −30.3 pts |
| 1 year | −5.1% | −7.6% | −21.7 pts | −24.1 pts | −26.9 pts | −29.4 pts |
| 3 years | +156.1% | not published | +77.7 pts | not published | +57.9 pts | not published |
| Since launch | +157.7% | −2.7% | +80.2 pts | −25.7 pts | +61.5 pts | −31.8 pts |
| SHLD Global X Defense Tech ETF Holds 59 stocks in defense, 40% of its weight in S&P 500 companies | WDEF WisdomTree Europe Defense Fund Holds 42 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 | 42 |
| Top ten, share of the fund | 64.4% | 63.9% |
| Expense ratio | 0.50% | 0.45% |
| Fee for the differing part | 0.50% | 0.45% |
| Total return, 1 year | −5.1% | −7.6% |
| vs the S&P 500 | −21.7 pts | −24.1 pts |
| vs the Nasdaq-100 | −26.9 pts | −29.4 pts |
| Below its high | −19.4% | −15.7% |
| Net assets | $7.1bn | $83m |
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.
WDEF in plain words
By weight, 0% of WDEF'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 42 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −7.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 24.1 pts. It sits 15.7% below its all-time high of Jan 27, 2026.
Questions people ask
- Do SHLD and WDEF hold the same stocks?
- By their latest filings, 22% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, SHLD or WDEF?
- SHLD has 40% of its weight in S&P 500 names and WDEF has 0%, so WDEF differs more from the index.
- Which is cheaper, SHLD or WDEF?
- SHLD charges 0.50% a year and WDEF charges 0.45%, so WDEF 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 WDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/shld-vs-wdef Free to use with attribution; the underlying files are at Open data.