MISL · First Trust Indxx Aerospace & Defense ETF
MISL holds 40 stocks. 98% of it is not in the S&P 500, and its top ten are 63% of the fund.
Its ten largest positions
| Holding | Ticker | Weight | |
|---|---|---|---|
| Palantir Technologies Inc. (Class A) | PLTR | 11.66% | |
| RTX Corporation | RTX | 8.36% | |
| Space Exploration Technologies Corp. (Class A) | SPCX | 8.35% | |
| The Boeing Company | BA | 7.67% | |
| GE Aerospace | GE | 7.52% | |
| Lockheed Martin Corporation | LMT | 4.13% | |
| Northrop Grumman Corporation | NOC | 3.97% | |
| General Dynamics Corporation | GD | 3.95% | |
| Howmet Aerospace Inc. | HWM | 3.90% | |
| HEICO Corporation | HEI | 3.76% |
Period by period
| Window | Total return | S&P 500 | Gap to S&P 500 | Gap to Nasdaq-100 |
|---|---|---|---|---|
| 3 months | −5.2% | +4.7% | −9.9 pts | −7.3 pts |
| 6 months | −11.7% | +15.2% | −26.8 pts | −31.8 pts |
| 1 year | +13.0% | +20.0% | −7.0 pts | −12.6 pts |
| 3 years | +91.7% | +78.0% | +13.7 pts | −1.8 pts |
| Since launch | +115.2% | +111.8% | +3.3 pts | −49.4 pts |
In plain words
The top ten holdings are 63% of the fund across 40 positions, as filed for Sep 3, 2026. Over the year to Sep 4, 2026 the fund returned +13.0% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 7.0 pts. It sits 14.6% below its all-time high of Jan 16, 2026.
| Theme (ETFIQ, editorial) | Defense |
|---|---|
| Launched | Oct 26, 2022 |
| Already in the S&P 500, by weight (ETFIQ) | 63.0% |
| Active share vs the S&P 500 (ETFIQ) | 97.5% |
| Already in the Nasdaq-100, by weight (ETFIQ) | 11.7% |
| Active share vs the Nasdaq-100 (ETFIQ) | 98.4% |
| Top ten holdings weight | 63.3% |
| Holdings | 40 |
| Holdings as of (SEC N-PORT) | Sep 3, 2026 |
| Top holdings | Palantir Technologies Inc. (Class A) 11.7%, RTX Corporation 8.4%, Space Exploration Technologies Corp. (Class A) 8.3%, The Boeing Company 7.7%, GE Aerospace 7.5%, Lockheed Martin Corporation 4.1%, Northrop Grumman Corporation 4.0%, General Dynamics Corporation 4.0%, Howmet Aerospace Inc. 3.9%, HEICO Corporation 3.8% |
| Net assets (SEC filing, whole fund, as filed for Sep 3, 2026) | $802m |
| Below its all-time high (ETFIQ) | −14.6% |
| Expense ratio (prospectus XBRL) | 0.60% |
| Fee for the part that differs from the S&P 500, active expense ratio (ETFIQ) | 0.62% |
| Closest funds by holdings overlap | PPA 64%, ITA 63%, NATO 53%, XAR 48%, WDGF 45% |
Holdings from the fund’s latest public SEC N-PORT filing; overlap and active share computed by ETFIQ against the IVV and QQQM books; returns from Tiingo end-of-day prices with distributions reinvested. How this desk computes every figure
Questions people ask
- How much of MISL is already in the S&P 500?
- By its holdings filed for Sep 3, 2026, 63% of MISL by weight is stocks the S&P 500 already holds. Its active share against the index is 98%, so that share is the part doing something different.
- What does MISL hold?
- 40 positions as filed for Sep 3, 2026, with the top ten at 63% of the fund. The largest are Palantir Technologies Inc. (Class A) at 11.7%, RTX Corporation at 8.4%, Space Exploration Technologies Corp. (Class A) at 8.3%.
- Has MISL beaten the S&P 500?
- Over the year to Sep 4, 2026 MISL returned +13.0% with distributions reinvested, against +20.0% for the S&P 500, so it finished behind the index by 7.0 points.
- What does MISL cost?
- The prospectus expense ratio is 0.60% a year. Because 98% of the fund differs from the S&P 500, the fee on that differing part works out at 0.62%.
The words on this page
- Active share
- The part of the fund doing something the index is not, as a percentage. It is the part a fee is actually buying.
- Weight overlap
- The share of money two portfolios hold in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice.
- Already in the index
- The fund’s weight in securities the S&P 500 holds at all. A fund can be made entirely of index names and still have high active share, because it holds them at very different weights.
- Top ten
- What the ten largest positions add up to. The higher it is, the more the fund is a bet on a few companies rather than a theme.
Every term this desk uses, defined in full on the themes desk vocabulary page.
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.
Funds near this one
Put this on your own page
The difference bar for MISL, redrawn every trading night. Free to use with the credit link; paste these two lines into any page or newsletter.
<a href="https://etfiq.com/funds/MISL.html"><img src="https://etfiq.com/embed/themes/MISL.svg" alt="MISL difference bar, ETFIQ" width="640"></a>
<p><a href="https://etfiq.com/funds/MISL.html">MISL difference bar, updated daily by ETFIQ</a></p>Use this data, or open the live card
Open MISL on the live ETFIQ desk, where the figures update as the desk refreshes.
Cite this page. ETFIQ, MISL on the themes desk, data as of Sep 4, 2026. https://etfiq.com/funds/MISL.html Free to use with attribution; the underlying files are at Open data.