{
 "ticker": "WAR",
 "name": "U.S. Global Technology and Aerospace & Defense ETF",
 "issuer": "U.S. Global",
 "desk": "themes",
 "url": "https://etfiq.com/funds/war",
 "html": "https://etfiq.com/funds/war",
 "markdown": "https://etfiq.com/funds/war.md",
 "as_of": "2026-09-18",
 "verdict": "WAR holds 28 stocks, and 62% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "38.3%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "WAR, already in the S&P 500: 38.3%, as of Sep 18, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "92.4%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "WAR, active share vs the S&P 500: 92.4%, as of Sep 18, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "61.3%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "WAR, top ten holdings: 61.3%, as of Sep 18, 2026."
  },
  {
   "key": "total_return_since_launch",
   "label": "Total return, since launch",
   "value": "\u22129.7%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "WAR, total return, since launch: \u22129.7%, as of Sep 18, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$41m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026",
   "as_of": "2026-09-18",
   "sentence": "WAR, net assets: $41m (SEC filing, whole fund, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.60%",
   "source": "485BPOS XBRL, Apr 24, 2026",
   "as_of": "2026-09-18",
   "sentence": "WAR, expense ratio: 0.60% (485BPOS XBRL, Apr 24, 2026)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Defense",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "May 26, 2026",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "38.3%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "92.4%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "31.5%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "87.6%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "61.3%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "28",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "Jun 30, 2026",
   "source": "SEC N-PORT"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "Astera Labs Inc 9.5%, Axon Enterprise Inc 8.8%, Micron Technology Inc 8.6%, Mildef Group AB 7.2%, DroneShield Ltd 5.0%, Intuitive Machines Inc 5.0%, Teradyne Inc 5.0%, Electro Optic Systems Holdings 4.1%, Rolls-Royce Holdings PLC 4.1%, Lattice Semiconductor Corp 4.1%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$41m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u221213.8%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.60%",
   "source": "485BPOS XBRL, Apr 24, 2026"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.65%",
   "source": "ETFIQ"
  },
  {
   "key": "closest_funds_by_holdings_overlap",
   "label": "Closest funds by holdings overlap",
   "value": "WTAI 22%, FDTX 21%, CHAT 20%, BAI 20%, SOXX 19%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "\u22127.9%",
   "S&P 500": "+2.3%",
   "Gap to S&P 500": "\u221210.2 pts",
   "Gap to Nasdaq-100": "\u22125.4 pts"
  },
  {
   "window": "Since launch",
   "Total return": "\u22129.7%",
   "S&P 500": "+2.0%",
   "Gap to S&P 500": "\u221211.7 pts",
   "Gap to Nasdaq-100": "\u22128.6 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of WAR is in S&P 500 companies?",
   "a": "By its holdings filed for Jun 30, 2026, 38% of WAR by weight is stocks the S&P 500 already holds. Its active share against the index is 92%, so that share is the part doing something different."
  },
  {
   "q": "What does WAR hold?",
   "a": "28 positions as filed for Jun 30, 2026, with the top ten at 61% of the fund. The largest are Astera Labs Inc at 9.5%, Axon Enterprise Inc at 8.8%, Micron Technology Inc at 8.6%."
  },
  {
   "q": "Has WAR beaten the S&P 500?",
   "a": "Over the year to Sep 18, 2026 WAR returned \u22129.7% with distributions reinvested, against +2.0% for the S&P 500, so it finished behind the index by 11.7 points."
  },
  {
   "q": "What does WAR cost?",
   "a": "The prospectus expense ratio is 0.60% a year. Because 92% of the fund differs from the S&P 500, the fee on that differing part works out at 0.65%."
  }
 ],
 "generated": "2026-09-21",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}