# WAR (U.S. Global Technology and Aerospace & Defense ETF)

U.S. Global · Thematic ETFs · data as of Sep 18, 2026

WAR holds 28 stocks, and 62% of its weight is outside the S&P 500.

## Key facts

- WAR, already in the S&P 500: 38.3%, as of Sep 18, 2026.
- WAR, active share vs the S&P 500: 92.4%, as of Sep 18, 2026.
- WAR, top ten holdings: 61.3%, as of Sep 18, 2026.
- WAR, total return, since launch: −9.7%, as of Sep 18, 2026.
- WAR, net assets: $41m (SEC filing, whole fund, as filed for Jun 30, 2026).
- WAR, expense ratio: 0.60% (485BPOS XBRL, Apr 24, 2026).

## WAR over each window to Sep 18, 2026

| Window | Total return | S&P 500 | Gap to S&P 500 | Gap to Nasdaq-100 |
| --- | --- | --- | --- | --- |
| 3 months | −7.9% | +2.3% | −10.2 pts | −5.4 pts |
| Since launch | −9.7% | +2.0% | −11.7 pts | −8.6 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Theme | Defense | ETFIQ, editorial |
| Launched | May 26, 2026 | ETFIQ |
| Already in the S&P 500, by weight | 38.3% | ETFIQ |
| Active share vs the S&P 500 | 92.4% | ETFIQ |
| Already in the Nasdaq-100, by weight | 31.5% | ETFIQ |
| Active share vs the Nasdaq-100 | 87.6% | ETFIQ |
| Top ten holdings weight | 61.3% | ETFIQ |
| Holdings | 28 | ETFIQ |
| Holdings as of | Jun 30, 2026 | SEC N-PORT |
| Top holdings | 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% | ETFIQ |
| Net assets | $41m | SEC filing, whole fund, as filed for Jun 30, 2026 |
| Below its all-time high | −13.8% | ETFIQ |
| Expense ratio | 0.60% | 485BPOS XBRL, Apr 24, 2026 |
| Fee for the part that differs from the S&P 500, active expense ratio | 0.65% | ETFIQ |
| Closest funds by holdings overlap | WTAI 22%, FDTX 21%, CHAT 20%, BAI 20%, SOXX 19% | ETFIQ |

## Questions

### How much of WAR is in S&P 500 companies?

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.

### What does WAR hold?

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%.

### Has WAR beaten the S&P 500?

Over the year to Sep 18, 2026 WAR returned −9.7% with distributions reinvested, against +2.0% for the S&P 500, so it finished behind the index by 11.7 points.

### What does WAR cost?

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%.


## Cite this page

ETFIQ, WAR, data as of Sep 18, 2026. https://etfiq.com/funds/war
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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