XAR vs SHLD: Holdings Overlap
XARState Street® SPDR® S&P® Aerospace & Defense ETF
State Street (SPDR) · 47 holdings · $6.4B · as of 2026-08-06
Global X · 48 holdings · $7.6B · as of 2026-05-31
Holdings snapshots are 67 days apart (XAR: 2026-08-06, SHLD: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are XAR and SHLD?
State Street® SPDR® S&P® Aerospace & Defense ETF (XAR, by State Street (SPDR)) holds 47 positions; Global X Defense Tech ETF (SHLD, by Global X) holds 48. They have 15 holdings in common, and by portfolio weight the two funds are 26.2% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 26.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 15XAR holds 47 · SHLD holds 48
- Weight in Shared Holdings
- XAR 35%·SHLD 45%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in XAR
32 of 47 positions (65.3% of the fund) are not held by SHLD. Showing the top 30 by weight.
Sector Breakdown
| Sector | XAR | SHLD |
|---|---|---|
| Industrials | 98.4% | 82.5% |
| Information Technology | 0.0% | 8.0% |
| Other Sectors | 0.0% | 0.0% |
| Unclassified | 1.6% | 9.1% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (2% of XAR, 9% of SHLD).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| XAR | +2.7% | +19.0% | +33.7% | +33.2% | +18.5% | +18.1% | 0.28% |
| SHLD | +8.2% | +6.9% | +11.2% | — | — | — | 0.61% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in XAR vs SHLD →
Shared Holdings(15)
The top 10 shared positions account for 90% of the overlap, led by RTX, GD and LMT.
 RTXRTX Corp. COM | 3.26% | 7.76% | 3.26% |
|---|---|---|---|
 GDGeneral Dynamics Corporation COM | 2.94% | 7.67% | 2.94% |
 LMTLockheed Martin Corporation COM | 2.87% | 8.41% | 2.87% |
 NOCNorthrop Grumman Corporation COM | 2.71% | 4.23% | 2.71% |
 LHXL3 Harris Technologies Inc COM | 2.47% | 4.69% | 2.47% |
 BWXTBWX Technologies Inc. COM | 2.36% | 3.05% | 2.36% |
 HIIHuntington Ingalls Industries, Inc. COM | 2.88% | 2.04% | 2.04% |
 KTOSKRATOS DEFENSE and SECURITY SOLU COMMON STOCK USD.001 | 2.71% | 1.81% | 1.81% |
 MOG-AMoog, Inc., Class A | 2.78% | 1.70% | 1.70% |
 AVAVAeroVironment, Inc. COM | 2.56% | 1.32% | 1.32% |
 MRCYMercury Systems Inc COM | 2.01% | 1.13% | 1.13% |
 KRMNKarman Holdings Inc. COMMON STOCK | 3.11% | 0.83% | 0.83% |
 VOYGVoyager Technologies, Inc., Class A | 0.42% | 0.43% | 0.42% |
 RCATRed Cat Holdings Inc. COM | 1.09% | 0.26% | 0.26% |
 NPKNational Presto Industries Inc. COM | 0.51% | 0.11% | 0.11% |
Frequently Asked Questions
How much do XAR and SHLD overlap?
XAR and SHLD overlap by 26.2% of portfolio weight. They share 15 holdings (XAR holds 47 positions and SHLD holds 48), based on each fund's latest SEC-reported holdings.
Is it redundant to own both XAR and SHLD?
The two portfolios are 26.2% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of XAR and SHLD?
The largest positions held by both funds are RTX, GD, LMT, NOC and LHX. Together the top 10 shared positions account for 90% of the total overlap.
What does XAR own that SHLD doesn't?
32 positions (65.3% of XAR) are unique to XAR, led by VSEC, ATI and SARO. In the other direction, 33 positions (54.2% of SHLD) are unique to SHLD.