Data as of .
WAR vs WDEF: which is really different?
WAR and WDEF hold 6% of their weight in the same names.
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
6% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, WAR and WDEF hold 6% of their money in the same securities at the same weight.
| Holding | WAR | WDEF |
|---|---|---|
| Rolls-Royce Holdings PLC | 4.09% | 5.57% |
| Theon International PLC | 3.52% | 1.27% |
| Mildef Group AB | 7.21% | 0.41% |
| Only in WAR | Only in WDEF |
|---|---|
| Astera Labs Inc 9.50% | BAE SYSTEMS PLC 10.21% |
| Axon Enterprise Inc 8.76% | THALES SA 10.14% |
| Micron Technology Inc 8.59% | RHEINMETALL AG 8.70% |
| DroneShield Ltd 5.04% | SAFRAN SA 5.62% |
| Intuitive Machines Inc 4.98% | AIRBUS SE 5.34% |
| Teradyne Inc 4.96% | SAAB AB 4.83% |
| Electro Optic Systems Holdings 4.11% | LEONARDO SPA 4.79% |
| Lattice Semiconductor Corp 4.08% | KONGSBERG GRUPPEN ASA 4.61% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| WAR | WDEF | WAR | WDEF | WAR | WDEF | |
| 3 months | −7.9% | +2.9% | −10.2 pts | +0.7 pts | −5.4 pts | +5.4 pts |
| 6 months | not published | −6.0% | not published | −24.1 pts | not published | −30.3 pts |
| 1 year | not published | −7.6% | not published | −24.1 pts | not published | −29.4 pts |
| Since launch | −9.7% | −2.7% | −11.7 pts | −25.7 pts | −8.6 pts | −31.8 pts |
| WAR U.S. Global Technology and Aerospace & Defense ETF Holds 28 stocks in defense, 38% 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 | U.S. Global | WisdomTree |
| Theme | Defense | Defense |
| In the S&P 500 | 38.3% | 0.0% |
| Active share vs the S&P 500 | 92.4% | 100.0% |
| In the Nasdaq-100 | 31.5% | 0.0% |
| Holdings | 28 | 42 |
| Top ten, share of the fund | 61.3% | 63.9% |
| Expense ratio | 0.60% | 0.45% |
| Fee for the differing part | 0.65% | 0.45% |
| Total return, 1 year | −9.7% (since launch on May 26, 2026) | −7.6% |
| vs the S&P 500 | −11.7 pts | −24.1 pts |
| vs the Nasdaq-100 | −8.6 pts | −29.4 pts |
| Below its high | −13.8% | −15.7% |
| Net assets | $41m | $83m |
WAR in plain words
By weight, 38% of WAR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 61% of the fund across 28 positions, as filed for Jun 30, 2026. Since it launched on May 26, 2026 the fund returned −9.7% with distributions reinvested against +2.0% for the S&P 500, so a holder was behind by 11.7 pts. It sits 13.8% below its all-time high of Jun 2, 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 WAR and WDEF hold the same stocks?
- By their latest filings, 6% 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, WAR or WDEF?
- WAR has 38% of its weight in S&P 500 names and WDEF has 0%, so WDEF differs more from the index.
- Which is cheaper, WAR or WDEF?
- WAR charges 0.60% 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, WAR against WDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/war-vs-wdef Free to use with attribution; the underlying files are at Open data.