Do XAR and XT hold the same stocks?

By their latest filings, 1% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, XAR or XT?

XAR has 40% of its weight in S&P 500 names and XT has 66%, so XAR differs more from the index.

Which is cheaper, XAR or XT?

XAR charges 0.35% a year and XT charges 0.46%, so XAR is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

XAR vs XT: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, XAR returned −10.0% to XT's +22.1%; 1% of their weight is in the same names.

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Net assets on Oct 27, 2026: $5.0bn for State Street SPDR S&P Aerospace & Defense ETF and $4.1bn for iShares Future Exponential Technologies ETF.

XAR on its own →XT on its own →

At a glance

39.7%

XAR in the S&P 500

65.5%

XT in the S&P 500

−10.0%

XAR total return, 1 year

+22.1%

XT total return, 1 year

XAR · 1 year to Oct 28, 2026 60% of its weight is outside the S&P 500

40% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Oct 27, 2026.

XT · 1 year to Oct 28, 2026 35% of its weight is outside the S&P 500

66% of XT's weight is in S&P 500 companies and 35% is outside the index. Holdings as of Oct 27, 2026.

Pair scorecard

XAR costs 0.11 points a year less; their one-year returns differ by 32.1 points; XAR is 1.2 times larger.

Points (pts) are percentage points.

XAR vs XT: Holdings Overlap & Returns
Measure	XAR	XT
Return
Measure	XAR	XT
Total return, 1 year	−10.0%	+22.1%
Drawdown
Measure	XAR	XT
Below its all-time high	24.1%, high on Aug 14, 2026
Against its benchmark
Measure	XAR	XT
What it tracks	Defense	Broad innovation and megatrends
Against the S&P 500, 1 year	behind by 23.7 pts
Its benchmark, total return, 1 year	+13.7%	+13.4%
Against its benchmark, 1 year	behind by 23.7 pts	ahead by 8.7 pts
Cost and size
Measure	XAR	XT
Expense ratio	0.35%	0.46%
Net assets, as of Oct 27, 2026	$5.0bn	$4.1bn
Holdings
Measure	XAR	XT
Holdings in common	1%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Apr 2, 2015 to Oct 23, 2026 · 603 weekly returns

XAR XT

Return

Total return edge XAR (slight) +309.2% +292.0%

Annualized edge XAR (slight) +12.9% +12.5%

Price return edge XAR +270.6% +225.6%

Risk

Volatility edge XT 25.0% 19.0%

Max drawdown edge XT −45.1% −34.3%

Downside capture 107.2% 108.7%

Beta 1.16 1.11

Risk-adjusted

Sharpe edge XT 0.52 0.60

Sortino edge XT 0.77 0.87

Treynor 0.141 0.103

Calmar edge XT 0.29 0.36

Against the benchmark

Alpha +0.3% a year +1.1% a year

Alpha t-stat 0.08 0.61

Information ratio 0.17 0.33

Tracking error 14.6% 6.5%

Each against its own benchmark: XAR against VOO, Oct 7, 2011 to Oct 23, 2026; XT against ACWI, Apr 2, 2015 to Oct 23, 2026.

Reading

XAR returned slightly more: +309.2% to +292.0%. XT swung less: 19.0% to 25.0%. XT fell less at its worst: −34.3% to −45.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: XAR vs XT: Holdings Overlap & Returns
Measure	XAR	XT	Edge	How it is measured
Return
Total return	+309.2%	+292.0%	XAR (slight)	Price change plus distributions, reinvested.
Annualized	+12.9%	+12.5%	XAR (slight)	Total return as a yearly rate.
Price return	+270.6%	+225.6%	XAR	Price change alone, distributions left out.
Risk
Volatility	25.0%	19.0%	XT	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	16.9%	13.2%	XT	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−45.1%	−34.3%	XT	Deepest fall from a high to the low after it.
Upside capture	115.9%	123.1%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	107.2%	108.7%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.16	1.11	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.62	0.89	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.52	0.60	XT	Return above Treasury bills per unit of volatility.
Sortino	0.77	0.87	XT	Return above Treasury bills per unit of downside deviation.
Treynor	0.141	0.103		Return above Treasury bills per unit of beta.
Calmar	0.29	0.36	XT	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	VOO	ACWI		The ETF each fund is measured against.
Alpha	+0.3% a year	+1.1% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.08	0.61	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−7.0% to +7.6%	−2.5% to +4.7%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.17	0.33		Return against its benchmark per unit of tracking error.
Tracking error	14.6%	6.5%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 603 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, XAR and XT hold 1% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

1% in common

Positions both hold · largest shared weight first XAR XT

NORTHROP GRUMMAN CORP 3.32% 0.80%

Only in one fund ↓

Only in XAR

LOCKHEED MARTIN CORP 3.69%

HONEYWELL AEROSPACE INC 3.44%

L3HARRIS TECHNOLOGIES INC 3.21%

GENERAL DYNAMICS CORP 3.12%

TRANSDIGM GROUP INC 3.12%

HUNTINGTON INGALLS INDUSTRIE 3.11%

HEICO CORP 3.07%

RTX CORP 3.06%

Only in XT

TEXAS INSTRUMENT 4.56%

TESLA INC 4.45%

ELI LILLY 4.32%

MICROSOFT 4.11%

PALO ALTO NETWORKS 3.67%

NVIDIA 3.66%

ANALOG DEVICES 3.33%

JOHNSON & JOHNSON 3.02%

Check overlap with more funds →

Window by window

Window by window: XAR vs XT: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	XAR	XT	XAR	XT
3 months	−12.8%	+10.2%	−18.9 pts vs VOO	+5.8 pts vs ACWI
6 months	−9.9%	+14.0%	−19.0 pts vs VOO	+6.6 pts vs ACWI
1 year	−10.0%	+22.1%	−23.7 pts vs VOO	+8.7 pts vs ACWI
3 years	+103.5%	+93.2%	+8.0 pts vs VOO	+4.3 pts vs ACWI
Since launchNot the same days: XAR Sep 2011 · XT Mar 2015	+945.4%	+297.8%	+171.9 pts vs VOO	+71.7 pts vs ACWI

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Side by side

XAR State Street SPDR S&P Aerospace & Defense ETF · Holds 50 stocks in defense, 40% of its weight in S&P 500 companies XT iShares Future Exponential Technologies ETF · Holds 197 stocks in broad innovation and megatrends, 66% of its weight in S&P 500 companies

Issuer State Street iShares

Theme Defense Broad innovation and megatrends

In the S&P 500 39.7% 65.5%

Active share vs the S&P 500 97.7% 69.2%

In the Nasdaq-100 2.7% 41.6%

Holdings 50 197

Top ten, share of the fund 32.2% 36.6%

Expense ratio 0.35% 0.46%

Fee for the differing part 0.36% 0.66%

Total return, 1 year −10.0% +22.1%

vs its benchmark −23.7 pts vs VOO +8.7 pts vs ACWI

Below its high −24.1% −0.5%

Net assets, as of Oct 27, 2026 $5.0bn $4.1bn

As of Oct 28, 2026. Source: ETFIQ.

1% of the two portfolios are the same securities at the same weight.

Client brief · page 1 of 2 Report BR-FAB4BC02B6

XAR and XT are built for the same job. How do they differ in cost, holdings and results?

Theme. XAR covers Defense and XT covers Broad innovation and megatrends.
What each follows. XAR follows Defense and XT follows Broad innovation and megatrends.
Holdings in common. 1% of the weight is in the same securities (holdings dated Oct 27, 2026).

Data as of Oct 28, 2026.

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About each fund

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 32% of the fund across 50 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −10.0% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 23.7 pts. It sits 24.1% below its all-time high of Aug 14, 2026.

By weight, 66% of XT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 69%. The top ten holdings are 37% of the fund across 197 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +22.1% with distributions reinvested against +13.4% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 8.7 pts.

Questions people ask

Do XAR and XT hold the same stocks?: By their latest filings, 1% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, XAR or XT?: XAR has 40% of its weight in S&P 500 names and XT has 66%, so XAR differs more from the index.
Which is cheaper, XAR or XT?: XAR charges 0.35% a year and XT charges 0.46%, so XAR is cheaper. Fees come from each fund's prospectus.

Other comparisons

XAR vs ARKK XAR vs KWEB XAR vs XME XAR vs SIL XT vs IDEF XT vs SHLD XT vs PPA XT vs ITA

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →XAR on its own →XT on its own →XAR dividend history →XAR holdings →XT dividend history →XT holdings →Method →Standards and sources →

Sources and dates

XAR filings on SEC EDGAR ↗

XAR prospectus with the expense ratio (SEC) ↗

State Street website ↗

XT filings on SEC EDGAR ↗

XT prospectus with the expense ratio (SEC) ↗

iShares page for XT ↗

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, XAR against XT, data as of Oct 28, 2026. https://etfiq.com/compare/themes/xar-vs-xt

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.