EUAD vs FOWF

EUADCSelect STOXX Europe Aerospace & Defense ETF

FOWFBPacer Solactive Whitney Future of Warfare ETF

In short

EUAD The defense-ETF aisle is stacked with U.S. primes. EUAD faces the other way: one ticker for an index of Europe's aerospace and defense makers, running since its October 2024 launch.

FOWF Most defense funds are built around the old primes. FOWF tracks the Solactive Whitney Future of Warfare Index, aimed at companies behind emerging defense technology across the U.S. and allied nations.

Stated mandate

EUAD The Fund seeks to track, before fees and expenses, the total return of the STOXX Europe Total Market Aerospace & Defense Index.

FOWF The Fund seeks capital appreciation by tracking companies that support critical emerging defense technologies in the U.S. and its allied nations.

Why people hold it

• EUAD A clean geographic split from the cohort's leaders: it tracks the STOXX Europe Total Market Aerospace & Defense Index, while ITA and XAR sit on U.S. names.
• 0.50% a year lands right on the median for defense ETFs, and under PPA's 0.58%, for exposure most of the group doesn't offer.
• Rules over hunches: a total-market index pulls in Europe's listed aerospace and defense makers instead of a manager's shortlist. It sits in the upper half of its defense peer group.

• FOWF Points at the next war, not the last one: the index targets companies supporting critical emerging defense technologies, not a broad aerospace-and-defense basket.
• 0.49% a year, right at the middle of the defense-theme pack. No niche premium charged for the narrower mandate.
• The mandate covers the U.S. and its allied nations, so allied suppliers abroad are in scope, not just Pentagon contractors.
• Roughly 100 holdings spread the theme across many names instead of a few giants, and the fund distributes quarterly.

Worth knowing

• EUAD It opened in October 2024, so the track record is short and the risk read rests on about a year of data.
• One industry on one continent. A short list of large manufacturers can set the tone for the whole fund.
• The holdings trade in European currencies, so exchange-rate swings add to or subtract from what a dollar-based investor sees.

• FOWF Launched in December 2024, so the track record is short and any read on its risk profile rests on limited history.
• Small and thinly traded next to category heavyweights like ITA and XAR, which can mean wider spreads on larger orders.
• A narrow theme tied to defense budgets and procurement cycles, so it can move very differently from a broad market fund.

Full EUAD profile⁠

Full FOWF profile⁠