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Launched · SEC filings

Drone and Modern Warfare ETF

JEDINYSE ArcaDefianceD

$19.88−0.87 (−4.19%)

At close: Nov 2, 2026, 4:00 PM ET

D30/ 100

Rank 23 of 26 in Defense & Aerospace

D30/100Rank 23 of 26inDefense & Aerospace
Intraday session: down, 79 prints from 20.75 to 19.88. Range 19.81 to 21.03. Use the arrow keys to read each point.20.2520.5021.0010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$131M
1Y total return
−20.5%
Yield · Last 12 months
No data
Holdings
46
Avg volume · 30D
181K sh
52W range
low $19.68high $42.99
Launched
Filings
SEC EDGAR

The ETF.net JEDI Grade

Based on 5 of 6 pillars

D

Score 30 out of 100

Category
Defense & Aerospace⁠
Rank
23 of 26
Six-pillar profile for JEDI. Scores out of 100: Cost 6, Risk 20, Mission not scored, Tradability 52, Holdings 68, Durability 66. Strongest: Holdings (68). Weakest: Cost (6). Based on 5 of 6 pillars.

Score 30 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F6 out of 100
    Rank 24 of 26

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F20 out of 100
    Rank 24 of 26

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C52 out of 100
    Rank 9 of 26

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B68 out of 100
    Rank 8 of 26

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B66 out of 100
    Rank 8 of 26

Our read on JEDI

ETF.net Research

In short

DPure-play drone warfare: about 50 developed-market names earning at least half their revenue from military drones, unmanned systems, AI warfare and satellites. It also won room in 2026 to hold private defense tech, up to 15% of assets.

Stated mandate

The Fund seeks to track, before fees and expenses, the total return of the BITA Drone & Modern Warfare Select Index.

Why people hold it

  • Unusual for an index fund: up to 15% of assets can sit in privately issued defense-tech shares, held directly or via single-asset SPVs run by unaffiliated sponsors.defianceetfs.comglobenewswire.com
  • Pure play by construction: index names must draw at least 50% of revenue from drones, unmanned systems, electronic warfare, ISR, military satellites, cyber or eVTOL.sec.govdefianceetfs.com
  • Weighted by a liquidity-momentum factor rather than raw market cap, rescreened semi-annually, with room to add fresh IPOs between rebalances.sec.gov
  • Any private position is disclosed in the fund's daily holdings file, same as the listed names.globenewswire.com

Worth knowing

  • Fees run 0.99%, above the defense category median and above broad peers XAR (0.35%) and ITA (0.37%). Niche access is what the premium buys.
  • Private holdings count as illiquid under Rule 22e-4 and are valued by the adviser, not a live market. That sleeve is capped at 15% of net assets.defianceetfs.comglobenewswire.com
  • A 2025 launch, so the record is short, and about 50 non-diversified names in one theme means a single headline can swing it.barchart.com

JEDI Holdings

Holdings pillarB68 out of 100Rank 8 of 26 in Defense & Aerospace
Asset class
Stocks
Holdings
46
Top-10 weight
51%
Largest holding
ONDS9.7%

Geography

  • United States88.28%
  • United Kingdom5.52%
  • Australia2.62%
  • France1.16%
  • Israel0.69%
  • Sweden0.66%
  • Germany0.63%
  • Canada0.44%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1ONDSOndas Inc9.73%1,978,930$12.5M77
2RDWRedwire Corp7.85%1,203,139$10.1M86
3UMACUnusual Machines Inc /US5.50%455,268$7.07M46
4LUNRIntuitive Machines Inc5.25%632,889$6.75M80
5ASTSAST SpaceMobile Inc3.96%124,225$5.09M149
6No dataShield AI II -IC LLC3.93%32,536$5.05M1
7RKLBRocket Lab Corp3.87%90,998$4.98M235
8RCATRed Cat Holdings Inc3.72%1,033,344$4.78M62
9BKSYBlackSky Technology Inc3.67%264,095$4.72M67
10AIC3.ai Inc3.58%388,362$4.6M85
11EVTLVertical Aerospace Ltd3.51%10,741,072$4.51M4
12JOBYJoby Aviation Inc3.26%856,340$4.2M80
13ACHRArcher Aviation Inc3.19%976,467$4.1M81
14PLPlanet Labs PBC3.06%292,053$3.93M92
15FEIMFrequency Electronics Inc2.99%56,882$3.85M59

Showing 1–15 of 46 holdings

JEDI Performance

Launched Sep 25, 2025

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

Not enough history yet.Not enough history yet.Not enough history yet.
JEDI$7,950
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. JEDI $7,950. SPY $11,199. Use the arrow keys to read each point.$7,500$10,000$12,500$15,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 JEDI. Periods over one year show the average yearly return.
PeriodJEDI
Year to date−14.5%
1 month−17.3%
3 months−13.2%
1 year−20.5%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 JEDI
YearReturn barJEDI
2026 YTD−14.5%
2025−3.7%

History from Sep 26, 2025

JEDI in the news

JEDI Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

JEDI Risk

Risk pillarF20 out of 100Rank 24 of 26 in Defense & Aerospace
How much the fund’s monthly returns vary, scaled to a year.
68.3%
Annualised · 13 months to Oct 2026
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.
−0.07
vs 3-month T-bills · 13 months to Oct 2026
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.
−52.5%
13 months · trough Oct 2026
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.
2.73
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.

FMP measures it over up to five years of monthly returns.

JEDI Cost

Compare JEDI and XAR

Overpaying vs XAR, tied cheapest in Defense & Aerospace

$11,399

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • JEDI 0.99%

    $18,525

  • XAR 0.35% Tied cheapest

    $7,126

$10,000
30 years

Cost over time

  • JEDI 0.99%
  • XAR 0.35%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530JEDI $18,525XAR $7,126

Year by year

YearJEDIXAROverpaying
10$1,746$634$1,112
20$6,565$2,454$4,111
30$18,525$7,126$11,399

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