FOWF vs WDGF: Grades, Fees and Holdings Compared

Pacer Solactive Whitney Future of Warfare ETF

FOWFBCboe

WisdomTree Global Defense Fund

WDGFBNasdaq

Overlap

36.2%by weight

Expense ratio

WDGF −0.04pt a year

FOWF0.49%WDGF0.45%

Avg volume · 30D

FOWF 1.5×the volume

FOWF1.79KWDGF1.17K

FOWF vs WDGF Performance

Oct 31, 2025 – Nov 2, 2026

+12.2%FOWF−2.0%WDGF

Expense ratio: FOWF 0.49%; WDGF 0.45%, better
Fund size: FOWF $15M; WDGF $5M
1Y total return: FOWF +12.2%, better; WDGF −2.0%
Yield (12M): FOWF 0.74%; WDGF No data
Holdings: FOWF 88; WDGF 138
Avg volume (30D): FOWF 1.79K sh, better; WDGF 1.17K sh
NAV per share: FOWF $35.06; WDGF $30.76
52W range

ETF.net Grade

Pillar letters and Scores for FOWF, WDGF, with each pillar’s weight
Pillar	FOWF	WDGF
Cost30% weight	C52	B66Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	A89Higher	B60
Tradability15% weight	C46Higher	D29
Holdings10% weight	A75Higher	A70
Durability5% weight	B64Higher	C40

Rank among Defense & Aerospace funds

How we build Categories ›

Same Category. FOWF and WDGF are both graded against the same 25 Defense & Aerospace funds, so their Grades compare head to head.

Defense & Aerospace⁠

Category · 25 funds

See all 25 ›

FOWF ranks 4th and WDGF 7th of 25 funds in the Defense & Aerospace Category.

Rank 1AXARState Street SPDR S&P Aerospace & Defense ETFScore 78
Rank 2AITAiShares U.S. Aerospace & Defense ETFScore 74
Rank 3BFLDZTrueShares Patriot Defense ETFScore 62
Rank 4BFOWFPacer Solactive Whitney Future of Warfare ETFScore 61
Rank 4BPPAInvesco Aerospace & Defense ETFScore 61
Rank 6BIDEFiShares Defense Industrials ActScore 58
Rank 7BWDGFWisdomTree Global Defense FundScore 56
Rank 8BSHLDGlobal X Defense Tech ETFScore 55

Our read on each fund

ETF.net Research

FOWFBPacer Solactive Whitney Future of Warfare ETF

WDGFBWisdomTree Global Defense Fund

In short

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.

WDGF No data

Stated mandate

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

WDGF No data

Why people hold it

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.

WDGF No data

Worth knowing

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.

WDGF No data

Full FOWF profile⁠

Full WDGF profile⁠

FOWF vs WDGF Holdings

How FOWF and WDGF differ

Overlap by weight

36.2%

Shared holdings make up 60.5% of WDGF and 48.6% of FOWF.

Level by level

Holdings16 in both36.2%
Countryby domicile71.4%
Asset classEquity100%

Sector

No Sector split for WDGF.

Country, concentration and asset class

Country by domicile

Country weights in FOWF and WDGF, widest gap first
Country	More in FOWFMore in WDGF	FOWF	WDGF
United States	FOWF +25.2 points	80.2%	55.0%
India	WDGF +6.2 points	0.0%	6.2%
South Korea	WDGF +5.7 points	0.0%	5.7%
Germany	WDGF +3.6 points	2.4%	6.0%
Israel	WDGF +2.8 points	0.0%	2.8%
United Kingdom	WDGF +2.8 points	6.7%	9.5%
Italy	WDGF +1.6 points	0.6%	2.2%
France	WDGF +1.6 points	3.9%	5.5%
Other countries (13)	WDGF +1.0 points	6.2%	7.2%

Outside the US: WDGF 64% developed, 36% emerging.

Concentration

Weight in the 10 largest Holdings

FOWF48.5%
WDGF48.7%

Securities held

FOWF86
WDGF124

Asset class

FOWF: Equity
WDGF: Equity

Holdings

Only in FOWF70
In both16
Only in WDGF108

Only in FOWF

70 securities, 51.3% of FOWF by weight

Leidos Holdings Inc4.01%
Zscaler Inc1.08%
Crowdstrike Holdings Inc0.91%
Strategy Inc0.90%
Salesforce Inc0.85%
Synopsys Inc0.85%
Dassault Systemes SE0.82%
Capgemini SE0.81%
Sage Group PLC/The0.81%
Roper Technologies Inc0.81%
Hewlett Packard Enterprise Co0.79%
International Business Machines Corp0.78%
Microsoft Corp0.78%
Motorola Solutions Inc0.77%
Palo Alto Networks Inc0.75%
Saab AB0.75%
Hexagon AB0.75%
Fortive Corp0.74%
BT Group PLC0.74%
Emerson Electric Co0.74%
CGI Inc0.73%
Nucor Corp0.72%
Dell Technologies Inc0.71%
NVIDIA Corp0.70%
Vulcan Materials Co0.70%
Johnson Controls International plc0.70%
Advanced Micro Devices Inc0.70%
Honeywell International Inc0.70%
Microchip Technology Inc0.69%
Snowflake Inc0.69%
Oracle Corp0.69%
Vertiv Holdings Co0.69%
Experian PLC0.69%
Amazon.com Inc0.69%
Dover Corp0.68%
Air Liquide SA0.68%
Smiths Group PLC0.68%
Adobe Inc0.68%
DuPont de Nemours Inc0.68%
AMETEK Inc0.67%
Cloudflare Inc0.67%
Vodafone Group PLC0.66%
Keysight Technologies Inc0.66%
Cadence Design Systems Inc0.66%
Illinois Tool Works Inc0.66%
Verizon Communications Inc0.65%
Halma PLC0.64%
BCE Inc0.63%
Ingersoll Rand Inc0.63%
Parker-Hannifin Corp0.63%

Only in WDGF

108 securities, 39.4% of WDGF by weight

Saab Ab-B2.89%
Elbit Systems Ltd2.51%
Dassault Aviation Sa1.94%
Heico Corp1.93%
Rocket Lab Corp1.55%
Curtiss-Wright Corp1.34%
Hanwha Techwin Co Ltd1.29%
Singapore Technologies Engineering Ltd1.20%
CACI International Inc1.07%
Bharat Electronics Ltd0.96%
Huntington Ingalls Industries Inc0.93%
SAIC Inc0.92%
Hensoldt Ag0.88%
Woodward Inc0.88%
Babcock & Wilcox Co/The0.85%
Leonardo Drs Inc0.76%
Textron Inc0.75%
Hindustan Aeronautics Ltd0.69%
Indra Sistemas SA0.64%
Kratos Defense & Security Solu0.61%
Babcock International Group PL0.52%
Booz Allen Hamilton Holding Co0.51%
Karman Holdings Inc0.50%
Moog Inc0.48%
Tkms Ag& Co Kgaa0.47%
Science Applications International Corp0.45%
Viasat Inc0.45%
Melrose Industries Plc0.40%
Aerovironment Inc0.40%
Amentum Holdings Inc0.40%
TTM Technologies Inc0.39%
Korea Aerospace Industries Ltd0.38%
Next Vision Stabilized Syste0.37%
Mercury Systems Inc0.37%
Renk Group Ag0.33%
LIG Nex1 Co Ltd0.32%
Loar Holdings Inc0.31%
Hyundai Rotem Co Ltd0.30%
ESCO Technologies Inc0.30%
QinetiQ Group PLC0.29%
Parsons Corp0.28%
Hanwha Systems Co Ltd0.25%
Ondas Inc0.25%
Fincantieri Spa0.25%
Planet Labs Pbc0.22%
Iridium Communications Inc0.22%
KBR Inc0.21%
Exosens Sas0.21%
AAR Corp0.20%
Theon International Plc0.20%

Weight gaps

All 16 Holdings in both funds, largest gap first.

Holding weights in FOWF and WDGF, widest gap first
Holding	More in FOWFMore in WDGF	FOWF	WDGF
Thales SA	WDGF +4.35 points	0.63%	4.98%
Rheinmetall AG	WDGF +4.26 points	0.60%	4.86%
Palantir Technologies IncPLTR	WDGF +3.98 points	1.52%	5.50%
Boeing Co/TheBA	FOWF +3.68 points	5.77%	2.09%
BAE Systems PLCBA.L	WDGF +2.51 points	2.71%	5.22%
Lockheed Martin CorpLMT	FOWF +2.38 points	8.25%	5.87%
General Dynamics CorpGD	FOWF +2.04 points	7.24%	5.20%
Northrop Grumman CorpNOC	FOWF +2.05 points	7.38%	5.33%
RTX CorpRTX	FOWF +1.95 points	6.93%	4.98%
TransDigm Group IncTDG	WDGF +1.92 points	0.62%	2.54%
Honeywell Aerospace IncHONA	WDGF +1.91 points	0.58%	2.49%
Leonardo-Finmeccanica Spa	WDGF +1.86 points	0.63%	2.49%
Kongsberg Gruppen ASA	WDGF +1.61 points	0.84%	2.46%
Rolls-Royce Holdings PLCRR.L	WDGF +1.60 points	0.56%	2.16%
CAE Inc	FOWF +0.25 points	0.67%	0.42%
L3Harris Technologies IncLHX	WDGF +0.23 points	3.64%	3.87%

All 93 FOWF holdings⁠All WDGF holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FOWF vs WDGF Cost

Overpaying FOWF vs WDGF

$751

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

FOWF 0.49%
$9,792
WDGF 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

FOWF 0.49%
WDGF 0.45%
Overpaying

Year by year

Year	FOWF	WDGF	Overpaying
10	$883	$812	$71
20	$3,394	$3,128	$266
30	$9,792	$9,041	$751

Expense ratio

0.49%FOWF
0.45%WDGF, cheaper

WDGF0.45%FOWF0.49%

0.35%1.11%

Middle half of Defense & Aerospace funds
Median 0.50%

WDGF 7th cheapest of 25 funds

FOWF 11th cheapest of 25 funds

FOWF vs WDGF Dividends

Last 12 months to Nov 2, 2026

Yield (12M): FOWF 0.74%; WDGF No data
Payout (12M): FOWF $0.26; WDGF No data
Last payment: FOWF $0.06; WDGF $0.02
Ex-dividend: FOWF Sep 3, 2026; WDGF Dec 26, 2025
Paid on: FOWF Sep 8, 2026; WDGF Dec 30, 2025
Frequency: FOWF Quarterly; WDGF Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

FOWFQuarterly · 7 paymentsAll FOWF payments⁠

WDGFIrregular · 1 paymentAll WDGF payments⁠

FOWF vs WDGF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FOWF 13.1%since Jan 2025WDGF 22.3%since Oct 2025
Return per unit of riskSharpe ratio, 3 years: FOWF 1.36since Jan 2025WDGF −0.26since Oct 2025
Worst fallMax drawdown, 5 years: FOWF −12.3%since Dec 2024WDGF −19.9%since Sep 2025
Market sensitivityBeta, 5 years: FOWF 0.55WDGF 0.43; Market = 1

Popular comparisons

FOWFBvsXARA
Pacer Solactive Whitney Future of Warfare ETF · State Street SPDR S&P Aerospace & Defense ETF
Expense ratio
0.49% · 0.35%
Category
WDGFBvsXARA
WisdomTree Global Defense Fund · State Street SPDR S&P Aerospace & Defense ETF
Expense ratio
0.45% · 0.35%
Category
FOWFBvsITAA
Pacer Solactive Whitney Future of Warfare ETF · iShares U.S. Aerospace & Defense ETF
Expense ratio
0.49% · 0.37%
Category
WDGFBvsITAA
WisdomTree Global Defense Fund · iShares U.S. Aerospace & Defense ETF
Expense ratio
0.45% · 0.37%
Category
FOWFBvsFLDZB
Pacer Solactive Whitney Future of Warfare ETF · TrueShares Patriot Defense ETF
Expense ratio
0.49% · 0.40%
Category
WDGFBvsFLDZB
WisdomTree Global Defense Fund · TrueShares Patriot Defense ETF
Expense ratio
0.45% · 0.40%
Category