As of Nov 4, 2026. Rebuilt every trading night.
The defense ETFs least like the S&P 500
See 15 funds ranked by the share of each fund held in S&P 500 companies. Updated Nov 4, 2026. Every fund here is sold on defense. The one at the top holds the least of the S&P 500, so it adds the most you do not already own.
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All 15, lowest first
15 of 15 · click a column to sort| # | Ticker | Fund | Weight in S&P 500 companies ↑ | Active share | Net assets | Fee |
|---|---|---|---|---|---|---|
| 1 | EUAD | Select STOXX Europe Aerospace & Defense | 0.0% | 100.0% | $1.1bn | 0.50% |
| 2 | KDEF | PLUS Korea Defense Industry Index ETF | 0.0% | 100.0% | $113m | 0.65% |
| 3 | WDAF | WisdomTree Asia Defense Fund | 0.0% | 100.0% | $22m | 0.45% |
| 4 | WDEF | WisdomTree Europe Defense Fund | 0.0% | 100.0% | $88m | 0.45% |
| 5 | XDEF | Xtrackers Europe Defense Technologies ET | 0.0% | 100.0% | $4.3m | 0.35% |
| 6 | ARMY | Tema International Defense ETF | 11.5% | 98.4% | $13m | 0.68% |
| 7 | AMMO | VistaShares Defense Supercycle ETF | 17.4% | 98.6% | $2.4m | 0.75% |
| 8 | WDGF | WisdomTree Global Defense Fund | 34.9% | 98.3% | $5.3m | 0.45% |
| 9 | WAR | U.S. Global Technology and Aerospace & D | 38.1% | 92.5% | $41m | 0.60% |
| 10 | GCAD | Gabelli Commercial Aerospace and Defense | 40.1% | 97.2% | $44m | 0.10% |
| 11 | IDEF | iShares Defense Industrials and Tech Act | 40.1% | 92.6% | $3.6bn | 0.55% |
| 12 | XAR | State Street SPDR S&P Aerospace & Defens | 40.1% | 97.7% | $5.3bn | 0.35% |
| 13 | SHLD | Global X Defense Tech ETF | 52.8% | 98.7% | $6.3bn | 0.50% |
| 14 | NATO | Themes Transatlantic Defense ETF | 54.5% | 97.7% | $88m | 0.35% |
| 15 | DUTY | U.S. Defense ETF | 61.7% | 98.1% | $2.1m | 0.45% |
The 22 of 22 ETFs in the defense theme with a filed book, least overlap first, each measured against the S&P 500 holdings ETFIQ reads for the same date.
The rest of the method
Across the funds listed here the weight held in S&P 500 companies runs from 0.0% to 61.7%. A thematic fund is worth its fee only for the part of it you do not already own. The list sorts one published number, with no scoring or weighting. Every fund ETFIQ covers in this category is eligible, closed funds included.
Links are sources, not endorsements. A ranking is not a recommendation or an opinion.
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ETFIQ, The defense ETFs least like the S&P 500, ranked by the share of each fund held in S&P 500 companies, data as of Nov 4, 2026. https://etfiq.com/rankings/themes-off-index-defense
ETFIQ. (Nov 4, 2026). The defense ETFs least like the S&P 500, ranked by the share of each fund held in S&P 500 companies. Retrieved from https://etfiq.com/rankings/themes-off-index-defense
[The defense ETFs least like the S&P 500, ranked by the share of each fund held in S&P 500 companies (ETFIQ, Nov 4, 2026)](https://etfiq.com/rankings/themes-off-index-defense)
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