Data as of Nov 4, 2026.
WAR vs XAR: Holdings Overlap & Returns
WAR and XAR hold 6% of their weight in the same names.
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Net assets: $41m on Jun 30, 2026 for U.S. Global Technology and Aerospace & Defense ETF, and $5.3bn on Nov 3, 2026 for State Street SPDR S&P Aerospace & Defense ETF.
38% of WAR's weight is in S&P 500 companies and 62% is outside the index. Holdings as of Jun 30, 2026.
40% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
XAR costs 0.25 points a year less.
Points (pts) are percentage points.
| Measure | WAR | XAR |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | −6.6% |
| Drawdown | ||
| Below its all-time high | 27.7%, high on Jun 2, 2026 | 24.0%, high on Aug 14, 2026 |
| Against its benchmark | ||
| What it tracks | Defense | Defense |
| Against the S&P 500, 1 year | behind by 21.4 pts | |
| Its benchmark, total return, 1 year | +14.8% | |
| Against its benchmark, 1 year | behind by 21.4 pts | |
| Cost and size | ||
| Expense ratio | 0.60% | 0.35% |
| Net assets, WAR as of Jun 30, 2026 and XAR as of Nov 3, 2026 | $41m | $5.3bn |
| Active share vs the S&P 500 | 92% | 98% |
| Holdings | ||
| Holdings in common | 6% | |
What they share
By the books each fund has filed, WAR and XAR hold 6% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.
half
6% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | WAR | XAR | WAR | XAR |
| 3 months | −18.5% | −20.0% | not measured | −19.9 pts vs VOO |
| 6 months | – | −15.6% | – | −20.6 pts vs VOO |
| 1 year | – | −6.6% | – | −21.4 pts vs VOO |
| 3 years | – | +89.1% | – | +5.8 pts vs VOO |
| Since launch | – | +948.0% | – | +180.8 pts vs VOO |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
6% of the two portfolios are the same securities at the same weight.
WAR
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. It sits 27.7% below its all-time high of Jun 2, 2026.
XAR
By weight, 40% of XAR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 33% of the fund across 50 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −6.6% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 21.4 pts. It sits 24.0% below its all-time high of Aug 14, 2026.
Questions people ask
- Do WAR and XAR hold the same stocks?
- By their latest filings, 6% 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, WAR against XAR, data as of Nov 4, 2026. https://etfiq.com/compare/themes/war-vs-xar
ETFIQ. (Nov 4, 2026). WAR against XAR. Retrieved from https://etfiq.com/compare/themes/war-vs-xar
[WAR against XAR (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/war-vs-xar)
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