ARMY vs FLDZ

ARMYDTema International Defense Innovation ETF

FLDZBTrueShares Patriot Defense ETF

In short

ARMY Most defense ETFs are a bet on the Pentagon's suppliers. ARMY casts a wider net: about 40 aerospace and defense names across domestic and foreign markets with an innovation bent, for 0.68% net of a waiver through June 28, 2027.

FLDZ A defense-stock ETF with an unusual arrangement: the adviser's management fee, less fund expenses, goes to the Folds of Honor Foundation. Launched in 2021 as a patriot-themed core equity fund, it now runs an active, concentrated book of aerospace and defense names.

Stated mandate

ARMY The fund pursues its investment objective by concentrating at least 80% of net assets in domestic and foreign publicly listed companies in the Aerospace and Defense sector, including defense-supporting businesses with an innovation focus.

FLDZ The Fund seeks capital growth.

Why people hold it

• ARMY The mandate parks at least 80% of net assets in aerospace and defense, domestic and foreign listings alike, so non-US contractors sit alongside the familiar American primes.
• About 40 holdings chosen with an innovation focus rather than a roster of the biggest contractors, so each name carries real weight.
• A fee waiver runs through June 28, 2027, trimming the 0.75% gross expense ratio to 0.68% net.

• FLDZ The adviser's management fee, less fund operating expenses, goes to Folds of Honor, a charity funding scholarships for families of fallen or disabled service members and first responders.true-shares.comtrue-shares.com 2
• Charges 0.40% a year, below the median for its actively managed US stock peers. The charitable angle does not arrive with a premium price tag attached.
• The mandate is spelled out: at least 80% of net assets in aerospace and defense companies as classified by GICS, with a policy of concentrating in that industry. No guessing what you own.sec.gov

Worth knowing

• ARMY That 0.68% net sits above the typical fee in defense ETFs, and US-focused trackers run cheaper: XAR at 0.35%, ITA at 0.37%, neither leaning on a waiver.
• Launched in September 2025, so there is little history to judge and trading has been light. Spreads deserve a look, and limit orders are the norm for funds this young.
• About 40 stocks, overwhelmingly industrials, many listed abroad: single-name stumbles, sector swings, and currency moves all land in returns.

• FLDZ The strategy was rewritten in 2026 from broad US-economy equities to defense companies, so the fund's older track record reflects a different portfolio.sec.govsec.gov 2
• Non-diversified and concentrated in one industry, so a single contract award or budget headline moves it more than it would a broad market fund.sec.gov
• A small fund that trades thinly, so bid-ask spreads tend to run wider than on heavily traded ETFs. Limit orders matter more here.

Full ARMY profile⁠

Full FLDZ profile⁠