FLDZ vs JEDI

FLDZBTrueShares Patriot Defense ETF

JEDIDDrone and Modern Warfare ETF

In short

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.

JEDI Pure-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

FLDZ The Fund seeks capital growth.

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

Why people hold it

• 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

• JEDI 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

• 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.

• JEDI 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

Full FLDZ profile⁠

Full JEDI profile⁠