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DUTY

GradeCNew York Stock Exchange Arca

U.S. Defense ETF

Themes · Aura · Inception 2026-04-08

$27.37+0.26 (+0.97%)

As of Sep 23, 2026, 3:09 PM EDT

History starts Apr 8, 2026.History starts Apr 8, 2026.History starts Apr 8, 2026.
Intraday session: up, 13 prints from 27.11 to 27.37. Range 27.11 to 27.55. Use the arrow keys to read each point.$27.20$27.6010 AM12 PM2 PM4 PM
Expense ratio
0.45%
Fund size
$3M
1Y return
—
Yield · Last 12 months
—
Holdings
52
Volume · 30D
0M sh
NAV per share
$27.31
52W range
low $23.20high $29.37

The ETF.net DUTY Grade

C

40/ 100

Rank 18 of 26 in Defense & Aerospace⁠

Confidence Medium

Six-pillar profile for DUTY. Scores out of 100: Cost 66, Risk 70, Mission not scored, Tradability 24, Holdings 62, Durability 28. Strongest: Risk (70). Weakest: Tradability (24). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned55This cap took−15Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 66
    Category rank8/26 · top 31%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 70
    Category rank5/25 · top 20%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 24
    Category rank22/26 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 62
    Category rank10/26 · top 38%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 28
    Category rank22/26 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on DUTY

ETF.net Research

CA pure-play on American defense: DUTY tracks the Solactive U.S. Defense Index, US names only, at a fee under the category median. It launched in 2026, making it the young challenger in a field of entrenched aerospace-and-defense blends.

Stated mandate

The Fund seeks to track, before fees and expenses, the performance of the Solactive U.S. Defense Index.

Why people hold it

  1. 01Charges 0.45%, below the median for defense-themed ETFs. That undercuts PPA and SHLD, though the category's two largest, ITA and XAR, still price lower.
  2. 02The name is the mandate. It tracks a defense index rather than an aerospace-and-defense blend, which is how the category's biggest funds (ITA, XAR, PPA) are built.
  3. 03US-only by design, so foreign-listed primes stay out of the basket. Holdings follow a published Solactive index, not a manager's stock picks.

Worth knowing

  1. 01A 2026 launch means a short record: limited evidence on how closely it tracks its index or how it behaves in a drawdown.
  2. 02It hasn't built the asset base or daily volume of long-running rivals like ITA and XAR. Thinner trading tends to mean wider spreads between the price you pay and the fund's value.
  3. 03One theme, one country. The basket moves with defense budgets and contract news, and it has paid no distributions, so this is a price story rather than an income one.

DUTY Holdings

As of Sep 20, 2026, 9:32 AM
Asset class
Stocks
Holdings
52
Top-10 weight
58%
Largest holding
PLTR8.7%

Sectors

  • Technology50.1%
  • Industrials49.9%

Geography

  • United States97.53%
  • Israel2.14%
  • Puerto Rico0.21%
  • United Kingdom0.06%
  • China0.06%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001PLTRPalantir Technologies Inc8.75%1,576$280K503
002NOCNorthrop Grumman Corp7.79%473$249K345
003LMTLockheed Martin Corp7.67%460$245K406
004GDGeneral Dynamics Corp7.61%690$244K367
005LHXL3Harris Technologies Inc7.29%944$233K307
006TDYTeledyne Technologies Inc4.15%220$133K264
007RKLBRocket Lab Corp3.71%1,840$119K237
008OKTAOkta Inc3.64%638$116K245
009ZSZscaler Inc3.45%560$110K219
010LDOSLeidos Holdings Inc3.44%861$110K272
011CRWDCrowdstrike Holdings Inc3.27%441$105K454
012FTNTFortinet Inc3.14%592$101K465
013RBRKRubrik Inc3.06%918$98K142
014PANWPalo Alto Networks Inc2.95%260$95K486
015CACICACI International Inc2.94%150$94K150

Showing 1–15 of 52 holdings

DUTY Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DUTY$11,065
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. DUTY $11,065. SPY $10,415. Use the arrow keys to read each point.$9,603$10,884$12,164Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DUTY. Periods over one year show the average yearly return.
PeriodDUTY
Year to dateFund launched this year—
1 month−1.2%
3 months+10.6%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DUTY
YearReturn barDUTY
2026 YTD+8.7%

Since listing, Apr 8, 2026

DUTY in the news

ETF.net Research hasn’t filed on DUTY yet — coverage lands here as it’s written.

DUTY Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

DUTY Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
3.51
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DUTY Cost

Expense ratio0.45%
  • The middle half of Defense & Aerospace funds
  • Median 0.50%

6 of the 25 Defense & Aerospace funds charge less.

DUTY costs $45.00 a year on $10,000. The median Defense & Aerospace fund costs $50.00.