FLDZ vs WAR

FLDZBTrueShares Patriot Defense ETF

WARCU.S. Global Technology and Aerospace & Defense 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.

WAR Most defense funds buy the primes. WAR's bet is that modern warfare runs on chips, code and data centers, so it pairs aerospace and defense names with semiconductors and cybersecurity in one active, roughly 30-stock portfolio.

Stated mandate

FLDZ The Fund seeks capital growth.

WAR The Fund seeks capital appreciation. It invests at least 80% of net assets in technology and aerospace and defense equities, emphasizing companies whose products, services, or innovations support national defense, including aerospace, physical, and cybersecurity defense.

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

• WAR Defense plus the tech behind it: aerospace and defense manufacturers sit alongside semiconductors, cybersecurity, data centers and electronic warfare names.globenewswire.com
• Actively managed, not a fixed defense index: managers pick names with quantitative screens and fundamental research, benchmarked to the S&P 500 Total Return Index.usfunds.comusglobaletfs.com
• Roughly 30 holdings, so each position carries real weight. A concentrated take on the theme rather than a watered-down basket.

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.

• WAR 0.60% a year runs a touch above the typical global thematic fund. That is the tab for an active manager rather than an index.
• Non-diversified and deliberately concentrated, so a rough stretch for chipmakers can drag it even when defense spending holds up.globenewswire.com
• Launched at the end of 2024 and still a small, lightly traded fund: short track record, and spreads can be wider than in the category giants.

Full FLDZ profile⁠

Full WAR profile⁠