First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/22/2026): $42.54

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/22/2026): $42.54

Key Takeaways

MISL has returned -0.6% YTD vs +10.0% for SPY; +9.3% over the past 12 months (SPY +20.0%). details →
Priced in gold, MISL has returned -9.5% over the past 3 years, vs +84.9% in dollars — its dollar gains have lagged gold. details →
Over the past month, MISL has seen net outflows of −$18M (−2.3% of assets). details →
MISL's portfolio trades at 30.0x forward earnings — a 53% premium to SPY (19.6x). details →
MISL's top 10 holdings represent 58% of the fund vs 38% for SPY — a more concentrated portfolio. details →

Last updated: 7/21/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with MISL

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+7.4%

Volatility

7.8%

Sharpe

0.61

YTD

+0.8%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	MISL	25.0%	0.7%	-2.7%	-8.3%	-0.6%
Bond	BND	50.0%	-0.2%	-0.3%	-0.8%	-0.1%
Gold	GLD	10.0%	2.0%	0.7%	-3.2%	-5.4%
Commodity	DBC	2.5%	1.5%	3.3%	7.0%	32.2%
Real Estate	VNQ	5.0%	0.0%	2.0%	5.1%	14.7%
Bitcoin	BTCUSD	0.0%	0.5%	0.9%	4.2%	-25.1%
Cash	GOVT	7.5%	-0.2%	-0.2%	-1.0%	-0.7%
Conservative Portfolio		100.0%	0.3%	-0.6%	-2.4%	0.7%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	55.0%	0.7%	-2.7%	-8.3%	-0.6%
Bond	BND	25.0%	-0.2%	-0.3%	-0.8%	-0.1%
Gold	GLD	7.0%	2.0%	0.7%	-3.2%	-5.4%
Commodity	DBC	4.0%	1.5%	3.3%	7.0%	32.2%
Real Estate	VNQ	5.0%	0.0%	2.0%	5.1%	14.7%
Bitcoin	BTCUSD	2.0%	0.5%	0.9%	4.2%	-25.1%
Cash	GOVT	2.0%	-0.2%	-0.2%	-1.0%	-0.7%
Moderate Portfolio		100.0%	0.5%	-1.2%	-4.4%	0.8%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	80.0%	0.7%	-2.7%	-8.3%	-0.6%
Bond	BND	5.0%	-0.2%	-0.3%	-0.8%	-0.1%
Gold	GLD	3.0%	2.0%	0.7%	-3.2%	-5.4%
Commodity	DBC	2.2%	1.5%	3.3%	7.0%	32.2%
Real Estate	VNQ	4.5%	0.0%	2.0%	5.1%	14.7%
Bitcoin	BTCUSD	5.2%	0.5%	0.9%	4.2%	-25.1%
Cash	GOVT	0.0%	-0.2%	-0.2%	-1.0%	-0.7%
Aggressive Portfolio		100.0%	0.7%	-1.9%	-6.2%	-0.6%

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	25.0%	0.0%	11.1%	0.44
Bond	BND	50.0%	1.4%	5.1%	-0.25
Gold	GLD	10.0%	11.2%	15.0%	0.59
Commodity	DBC	2.5%	7.2%	17.3%	0.30
Real Estate	VNQ	5.0%	5.0%	17.6%	0.22
Bitcoin	BTCUSD	0.0%	58.7%	76.3%	0.92
Cash	GOVT	7.5%	0.3%	4.9%	-0.47
Conservative Portfolio		100.0%	4.3%	5.9%	0.28

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	55.0%	0.0%	11.1%	0.44
Bond	BND	25.0%	1.4%	5.1%	-0.25
Gold	GLD	7.0%	11.2%	15.0%	0.59
Commodity	DBC	4.0%	7.2%	17.3%	0.30
Real Estate	VNQ	5.0%	5.0%	17.6%	0.22
Bitcoin	BTCUSD	2.0%	58.7%	76.3%	0.92
Cash	GOVT	2.0%	0.3%	4.9%	-0.47
Moderate Portfolio		100.0%	7.4%	7.8%	0.61

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	80.0%	0.0%	11.1%	0.44
Bond	BND	5.0%	1.4%	5.1%	-0.25
Gold	GLD	3.0%	11.2%	15.0%	0.59
Commodity	DBC	2.2%	7.2%	17.3%	0.30
Real Estate	VNQ	4.5%	5.0%	17.6%	0.22
Bitcoin	BTCUSD	5.2%	58.7%	76.3%	0.92
Cash	GOVT	0.0%	0.3%	4.9%	-0.47
Aggressive Portfolio		100.0%	10.8%	10.6%	0.76

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	MISL	25.0%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	-13.0%	-5.4%	0.4%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	MISL	55.0%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	-13.6%	-10.2%	-2.9%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	MISL	80.0%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	-23.8%	-22.3%	-13.2%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

Learn More →

Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

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[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Top 20 Holdings for MISL

Total Weights
Top 5: 40.3% | Top 10: 60.8% | Top 20: 87.5%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		91.17%	100.00%	100.00%	2.7	30.0	+9.2%	+21.1%
Top 20		78.96%	77.97%	85.96%	3.0	31.2	+9.6%	+22.0%
PLTR	Palantir Technologies	8.73%	0.47%	2.65%	32.5	74.6	+45.5%	+40.0%
RTX	RTX	8.26%	9.32%	9.69%	2.7	26.5	+7.1%	+8.1%
GE	GE Aerospace	8.12%	3.78%	8.68%	6.7	39.1	+10.0%	+14.0%
BA	Boeing	8.05%	15.00%	4.78%	1.5	62.8	+14.5%	+698.2%
SPCX	Space Exploration Technologies	7.14%	—	—	—	—	—	—
HWM	Howmet Aerospace	4.21%	1.06%	2.77%	10.7	48.9	+13.2%	+14.7%
GD	General Dynamics	4.11%	7.26%	7.58%	1.7	20.7	+4.6%	+8.7%
HEI	Heico	4.08%	1.38%	2.87%	8.3	51.3	+10.2%	+12.4%
LMT	Lockheed Martin	4.07%	8.54%	7.06%	1.4	16.2	+5.5%	+7.1%
LHX	L3Harris Technologies	4.06%	5.73%	5.72%	2.1	21.9	+8.0%	+16.9%
NOC	Northrop Grumman	4.04%	7.67%	10.73%	1.6	17.5	+6.8%	+6.6%
TDG	TransDigm	3.93%	1.74%	4.93%	6.3	25.8	+9.4%	+20.3%
RKLB	Rocket Lab	3.49%	0.18%	—	37.1	—	+39.4%	—
CW	Curtiss-Wright	2.94%	1.30%	2.38%	6.7	43.8	+8.1%	+10.3%
WWD	Woodward	2.64%	1.42%	2.36%	5.2	37.9	+8.9%	+13.9%
ASTS	AST SpaceMobile	2.53%	0.04%	—	35.2	—	+365.3%	—
FTAI	FTAI Aviation	2.40%	1.03%	2.52%	4.5	21.6	+54.1%	+72.3%
TXT	Textron	1.79%	5.61%	4.47%	1.0	12.6	+3.5%	+14.1%
LDOS	Leidos	1.51%	6.44%	6.80%	0.7	7.9	+4.5%	+7.0%
null	N/A	1.40%	—	—	—	—	—	—

[1] Total and Top 20 rows are weighted aggregates across constituents.
[2] Forward P/S and P/E ratios use consensus sales and earnings for the 12 months ending 7/31/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 7/31/27.
[3] Forward Sales and Non-GAAP Earnings Growth are calculated as next fiscal year (FY2) consensus growth over current fiscal year (FY1) consensus. They are not derived from the forward P/S and P/E multiples shown.

Performance for MISL Top Holdings

Ticker	Holding	Weight	Mkt Price 7/21	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
MISL	First Trust Indxx Aerospace & Defense ETF	100.00%	42.55	0.7%	-8.3%	-0.6%	9.3%	84.9%
PLTR	Palantir Technologies	8.73%	132.66	-1.6%	3.3%	-25.4%	-12.6%	707.4%	501.1%
RTX	RTX	8.26%	193.67	-0.4%	4.3%	6.4%	29.8%	114.1%	151.9%	296.0%
GE	GE Aerospace	8.12%	340.70	-0.2%	-4.6%	10.9%	30.3%	293.3%	446.4%	145.4%
BA	Boeing	8.05%	204.80	-2.2%	-8.0%	-5.7%	-10.7%	-3.3%	-7.3%	68.2%
SPCX	Space Exploration Technologies	7.14%	123.54	3.1%	-33.2%
HWM	Howmet Aerospace	4.21%	279.00	2.6%	0.5%	36.2%	48.9%	463.8%	775.7%	1,106.6%
GD	General Dynamics	4.11%	367.73	-0.8%	5.5%	10.7%	26.0%	81.1%	114.3%	217.7%
HEI	Heico	4.08%	340.40	-0.0%	1.0%	5.3%	6.7%	92.3%	150.9%	914.2%
LMT	Lockheed Martin	4.07%	507.09	-0.5%	-0.8%	6.1%	13.1%	20.8%	52.7%	156.7%
LHX	L3Harris Technologies	4.06%	277.71	-1.0%	-5.8%	-4.7%	7.3%	47.4%	35.6%	287.1%
NOC	Northrop Grumman	4.04%	512.29	-2.2%	-1.8%	-9.5%	1.0%	18.8%	54.6%	173.9%
TDG	TransDigm	3.93%	1,205.49	0.1%	-9.2%	-9.4%	-18.6%	58.8%	124.1%	603.6%
RKLB	Rocket Lab	3.49%	69.12	5.1%	-35.5%	-0.9%	46.5%	821.6%	530.7%
CW	Curtiss-Wright	2.94%	722.09	1.8%	-6.5%	31.1%	50.7%	279.8%	530.6%	770.9%
WWD	Woodward	2.64%	406.87	4.1%	-5.4%	34.8%	60.7%	243.3%	254.5%	650.5%
ASTS	AST SpaceMobile	2.53%	63.34	10.3%	-21.5%	-12.8%	11.8%	1,495.5%	440.4%
FTAI	FTAI Aviation	2.40%	210.25	5.3%	-23.9%	7.2%	86.0%	554.0%	870.0%	4,035.7%
TXT	Textron	1.79%	90.53	-0.3%	1.2%	3.9%	6.9%	34.2%	33.5%	130.4%
LDOS	Leidos	1.51%	104.92	-2.0%	-2.1%	-41.5%	-34.0%	18.9%	6.4%	231.5%
null	N/A	1.40%

Guidance Updates for MISL Top Holdings

	Ticker	Company	Earnings Date	Guidance Metric	Midpoint Value	% Change	Guidance Change
HWM_5072026	HWM	Howmet Aerospace	5/7/2026	2026 Revenue	9.65 Bil	6.0%	RaisedRaised Prior Guidance of 9.10 Bil for 2026
PLTR_5042026	PLTR	Palantir Technologies	5/4/2026	2026 Revenue	7.66 Bil	6.5%	RaisedRaised Prior Guidance of 7.19 Bil for 2026
RKLB_5072026	RKLB	Rocket Lab	5/7/2026	Q2 2026 Revenue	232.50 Mil	20.8%	Higher NewNew Guidance Higher than Prior Actual of 192.50 Mil for Q1 2026

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
MISL Return	-	8%	15%	20%	41%	-1%	109%
Peers Return	15%	-20%	33%	13%	40%	34%	163%
S&P 500 Return	27%	-19%	24%	23%	16%	9%	98%
Monthly Win Rates [3]
MISL Win Rate	-	100%	58%	58%	83%	43%
Peers Win Rate	58%	45%	62%	58%	67%	69%
S&P 500 Win Rate	75%	42%	67%	75%	67%	43%
Max Drawdowns [4]
MISL Max Drawdown	-	-	-10%	-10%	-16%	-17%
Peers Max Drawdown	-20%	-37%	-19%	-18%	-26%	-14%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: SMH, SOXX, IBB, XBI, ITA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/21/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
MISL	0.82	1.05	1.03
Equity Top Results (3Y)
NUSC	2.47	2.47	2.47
IALT	2.09	2.09	2.09
SPMO	1.67	1.65	0.98
VLUE	2.90	1.45	0.74
SMH	2.40	1.41	0.98

Results as of 6302026.

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Compare to SMH, SOXX, IBB, XBI, ITA

In The Past

First Trust Indxx Aerospace & Defense ETF's stock fell -8.9% during the 2025 US Tariff Shock. Such a loss loss requires a 9.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

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Compare to SMH, SOXX, IBB, XBI, ITA

In The Past

First Trust Indxx Aerospace & Defense ETF's stock fell -8.9% during the 2025 US Tariff Shock. Such a loss loss requires a 9.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

MISL Dip Buy History

MISL had 4 events since 10/26/2022 where the dip threshold of -5.0% within 60 days was triggered

46% median peak return within 1 year of dip event
366 days is the median time to peak return after a dip event
-5.8% median max drawdown within 1 year of dip event

60 Day Dip			MISL Subsequent Performance
Date	MISL	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			45%	46%	-6%	366
4152026	-7%	1%			-11%	43
12312024	-5%	3%	54%	55%	-10%	371
9252023	-6%	-1%	45%	46%	-2%	364
5042023	-6%	-2%	30%	30%	-1%	368

[1] Dip event defined as first instance dip threshold is triggered within a 60-day time period.
[2] Analysis for period from 1/1/2005 to 7/21/2026

MISL had 3 events since 10/26/2022 where the dip threshold of -10% within 90 days was triggered

80% median peak return within 1 year of dip event
287 days is the median time to peak return after a dip event
-5.1% median max drawdown within 1 year of dip event

90 Day Dip			MISL Subsequent Performance
Date	MISL	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			68%	80%	-5%	287
7102026	-12%	10%			-5%	0
4042025	-13%	-14%	70%	86%	0%	287
3042025	-10%	-1%	66%	74%	-6%	318

[1] Dip event defined as first instance dip threshold is triggered within a 90-day time period.
[2] Analysis for period from 1/1/2005 to 7/21/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
MAGS	Roundhill Magnificent Seven ETF	-5.6%	66.95	7212026	70.94	5142026	68
IWF	iShares Russell 1000 Growth ETF	-5.8%	121.33	7212026	128.77	6012026	50
VONG	Vanguard Russell 1000 Growth ETF	-5.6%	124.91	7212026	132.35	6012026	50
AKRE	Akre Focus ETF	-12.5%	54.78	7212026	62.64	1222026	180
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-6.4%	151.51	7212026	161.79	5112026	71
SCHC	Schwab International Small-Cap Equity ETF	-6.6%	48.16	7212026	51.54	3012026	142
IEMG	iShares Core MSCI Emerging Markets ETF	-7.8%	79.30	7212026	86.00	6222026	29
EEM	iShares MSCI Emerging Markets ETF	-8.2%	65.34	7212026	71.21	6222026	29
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-6.1%	35.03	7212026	37.30	6222026	29
EWY	iShares MSCI South Korea ETF	-21.1%	172.90	7212026	219.20	6212026	30
EWZ	iShares MSCI Brazil ETF	-14.6%	35.62	7212026	41.73	4142026	98
FXI	iShares China Large-Cap ETF	-15.1%	34.63	7212026	40.78	1292026	173
ILF	iShares Latin America 40 ETF	-9.0%	34.69	7212026	38.10	4142026	98
KWEB	KraneShares CSI China Internet ETF	-25.5%	27.02	7212026	36.29	1292026	173
MTUM	iShares MSCI USA Momentum Factor ETF	-8.9%	314.48	7212026	345.22	6222026	29
SPMO	Invesco S&P 500 Momentum ETF	-7.4%	149.70	7212026	161.66	6222026	29
ARKK	ARK Innovation ETF	-7.1%	77.69	7212026	83.61	7062026	15
URA	Global X Uranium ETF	-34.9%	40.25	7212026	61.81	1282026	174
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-16.2%	34.89	7212026	41.63	5132026	69
ROBO	ROBO Global Robotics & Automation Index ETF	-12.1%	79.38	7212026	90.34	6022026	49
LIT	Global X Lithium & Battery Tech ETF	-24.6%	69.08	7212026	91.62	5112026	71
ICLN	iShares Global Clean Energy ETF	-22.0%	18.52	7212026	23.75	6022026	49
ARKQ	ARK Autonomous Technology & Robotics ETF	-16.5%	120.10	7212026	143.82	5282026	54
ARKX	ARK Space & Defense Innovation ETF	-17.4%	31.18	7212026	37.74	5282026	54
NASA	Tema Space Innovators ETF	-43.4%	23.69	7212026	41.89	5272026	55
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	-8.9%	19.45	7212026	21.34	7062026	15
AGIX	KraneShares Artificial Intelligence ETF	-10.9%	44.00	7212026	49.40	6012026	50
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-11.7%	62.14	7212026	70.39	5112026	71
RAAX	VanEck Real Assets ETF	-6.3%	40.01	7212026	42.70	5112026	71
VGT	Vanguard Information Technology ETF	-7.7%	116.01	7212026	125.62	6022026	49
XLK	State Street Technology Select Sector SPDR ETF	-8.8%	180.78	7212026	198.21	6022026	49
XLE	State Street Energy Select Sector SPDR ETF	-6.5%	58.50	7212026	62.56	3292026	114
XLC	State Street Communication Services Select Sector SPDR ETF	-8.1%	110.03	7212026	119.70	2012026	170
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-6.5%	114.87	7212026	122.88	1252026	177
XLP	State Street Consumer Staples Select Sector SPDR ETF	-6.1%	84.06	7212026	89.51	3012026	142
XLU	State Street Utilities Select Sector SPDR ETF	-5.2%	44.92	7212026	47.40	3012026	142
XLB	State Street Materials Select Sector SPDR ETF	-6.1%	50.10	7212026	53.38	2112026	160
IYM	iShares U.S. Basic Materials ETF	-7.3%	175.32	7212026	189.08	3022026	141
FXN	First Trust Energy AlphaDEX Fund	-6.5%	21.68	7212026	23.18	3292026	114
SMH	VanEck Semiconductor ETF	-12.7%	584.08	7212026	668.91	6222026	29
SOXX	iShares Semiconductor ETF	-15.6%	552.69	7212026	655.01	6222026	29
XBI	State Street SPDR S&P Biotech ETF	-6.0%	154.50	7212026	164.28	7092026	12
ITA	iShares U.S. Aerospace & Defense ETF	-8.4%	229.74	7212026	250.78	7062026	15
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	-7.6%	173.83	7212026	188.18	3292026	114
IGV	iShares Expanded Tech-Software Sector ETF	-14.7%	91.82	7212026	107.70	6012026	50
MISL	First Trust Indxx Aerospace & Defense ETF	-16.0%	42.55	7212026	50.66	3022026	141
RING	iShares MSCI Global Gold Miners ETF	-36.0%	63.60	7212026	99.42	3012026	142
SOXQ	Invesco PHLX Semiconductor ETF	-15.5%	97.23	7212026	115.11	6222026	29
BWX	State Street SPDR Bloomberg International Treasury Bond ETF	-6.3%	21.46	7212026	22.90	2162026	155
IGOV	iShares International Treasury Bond ETF	-5.6%	40.58	7212026	42.99	3012026	142
TLT	iShares 20+ Year Treasury Bond ETF	-6.5%	83.66	7212026	89.48	3012026	142
VGLT	Vanguard Long-Term Treasury ETF	-5.6%	53.59	7212026	56.76	3012026	142
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-5.9%	25.48	7212026	27.09	3012026	142
TLH	iShares 10-20 Year Treasury Bond ETF	-5.5%	97.80	7212026	103.45	3012026	142
EDV	Vanguard World Funds Extended Duration ETF	-9.1%	61.26	7212026	67.42	3012026	142
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	-6.7%	17.65	7212026	18.91	5122026	70
DBC	Invesco DB Commodity Index Tracking Fund	-6.7%	29.57	7212026	31.69	5122026	70
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	-9.8%	32.95	7212026	36.53	5192026	63
GSG	iShares GSCI Commodity	-5.8%	30.01	7212026	31.85	3182026	125
BCI	abrdn Bloomberg All Commodity Strategy K-1 Free ETF	-6.4%	24.24	7212026	25.91	5122026	70
GLD	SPDR Gold Trust	-24.4%	374.81	7212026	495.90	1292026	173
IAU	iShares Gold Trust	-24.4%	76.82	7212026	101.57	1292026	173
GLDM	SPDR Gold MiniShares Trust	-24.3%	80.82	7212026	106.77	1292026	173
SGOL	ETFS Physical Swiss Gold Shares	-13.1%	44.66	7212026	51.41	1292026	173
BAR	Direxion Daily Gold Bull 3X Shares	-16.6%	44.34	7212026	53.16	1292026	173
SLV	iShares Silver Trust	-49.7%	53.08	7212026	105.60	1282026	174
SIVR	ETFS Physical Silver Shares Trust ETF	-24.8%	83.39	7212026	110.87	1282026	174
PPLT	ETFS Physical Platinum Shares	-41.2%	14.82	7212026	25.23	1252026	177
CPER	United States Copper Index Fund ETV	-13.9%	33.33	7212026	38.71	1292026	173
PALL	ETFS Physical Palladium Shares	-37.4%	23.28	7212026	37.18	1282026	174
USO	United States Oil Fund LP	-15.8%	128.85	7212026	152.96	5192026	63
UNG	United States Natural Gas Fund LP	-38.5%	10.40	7212026	16.90	2012026	170
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	7212026	60.13	5042026	78
IBIT	iShares Bitcoin Trust ETF	-26.3%	37.67	7212026	51.11	1212026	181
FBTC	Fidelity Wise Origin Bitcoin Fund	-26.3%	57.83	7212026	78.49	1212026	181
GBTC	Grayscale Bitcoin Trust ETF	-12.1%	61.84	7212026	70.34	1212026	181
ETHA	iShares Ethereum Trust ETF	-36.5%	14.53	7212026	22.88	1212026	181

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-07-20

Asset allocation rotation · Past week

Equity ETFs drew the largest net inflows (+$13.1B), followed by Bond (+$3.9B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$5.7B) and out of US Mid Cap Core (−$2.4B).
Relative to fund size, BFLX drew the largest inflow (+54.2% of AUM) and PSC the largest outflow (−14.1%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$6.98B	+0.9%
2	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$3.81B	+8.3%
3	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$2.06B	+0.2%
4	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$1.9B	+1.2%
5	DRAM	Roundhill Memory ETF	Other	+$1.81B	+7.7%
6	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	+$1.64B	+7.3%
7	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	+$1.32B	+1.9%
8	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$1.04B	+1.1%
9	BSV	Vanguard Short-Term Bond ETF	Other	+$854M	+1.9%
10	BFLX	iShares Flexible Equity Active ETF	Other	+$848M	+54.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	BFLX	iShares Flexible Equity Active ETF	Other	+$848M	+54.2%
2	HELO	JPMorgan Hedged Equity Laddered Overlay ETF	Other	+$532M	+12.7%
3	IGOV	iShares International Treasury Bond ETF	Bond International	+$157M	+10.9%
4	ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	Equity Emerging Markets	+$148M	+10.8%
5	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$3.81B	+8.3%
6	DRAM	Roundhill Memory ETF	Other	+$1.81B	+7.7%
7	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$90M	+7.7%
8	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	+$1.64B	+7.3%
9	FLKR	Franklin FTSE South Korea ETF	Other	+$85M	+6.7%
10	PJUL	Innovator U.S. Equity Power Buffer ETF	Other	+$61M	+5.2%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$5.29B	-0.6%
2	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$1.35B	-0.3%
3	IQMM	ProShares - GENIUS Money Market ETF	Other	-$1.1B	-6.0%
4	VO	Vanguard Mid-Cap ETF	Equity US Mid Cap Core	-$1.1B	-1.0%
5	IWR	iShares Russell Mid-Cap ETF	Equity US Mid Cap Core	-$996M	-1.8%
6	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$746M	-0.6%
7	XLI	State Street Industrial Select Sector SPDR ETF	Equity Broad Sector	-$675M	-2.0%
8	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$671M	-0.8%
9	VTWO	Vanguard Russell 2000 ETF	Equity US Small Cap Core	-$568M	-3.2%
10	SCZ	iShares MSCI EAFE Small-Cap ETF	Equity International Small Cap	-$434M	-3.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	PSC	Principal U.S. Small-Cap Multi-Factor ETF	Other	-$317M	-14.1%
2	RAAX	VanEck Real Assets ETF	Equity Asset Allocation	-$142M	-12.8%
3	LGDS	JPMorgan Fundamental Data Science Large Growth ETF	Other	-$129M	-11.0%
4	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$277M	-6.5%
5	IQMM	ProShares - GENIUS Money Market ETF	Other	-$1.1B	-6.0%
6	ITB	iShares U.S. Home Construction ETF	Other	-$127M	-5.3%
7	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$428M	-4.7%
8	ARKK	ARK Innovation ETF	Equity Thematic	-$253M	-4.2%
9	XHB	State Street SPDR S&P Homebuilders ETF	Other	-$71M	-4.2%
10	CRUX	Columbia Core Bond ETF	Other	-$89M	-4.2%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$54.7B), followed by Bond (+$27.2B), while Commodity (−$3.1B) and Crypto (−$2.3B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$24.9B) and out of US Mid Cap Core (−$5.9B).
Relative to fund size, DRAM drew the largest inflow (+42.2% of AUM) and VLUE the largest outflow (−51.9%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$37.4B	+4.2%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$14.25B	+1.8%
3	DRAM	Roundhill Memory ETF	Other	+$10.02B	+42.2%
4	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$9.43B	+20.5%
5	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$9.38B	+6.0%
6	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$4.62B	+3.0%
7	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$3.95B	+23.5%
8	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	+$3.71B	+10.7%
9	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$3.63B	+3.7%
10	RSP	Invesco S&P 500 Equal Weight ETF	Equity Factor Smart Beta	+$3.36B	+3.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	DRAM	Roundhill Memory ETF	Other	+$10.02B	+42.2%
2	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$429M	+41.9%
3	FXL	First Trust Technology AlphaDEX Fund	Other	+$940M	+36.8%
4	FLKR	Franklin FTSE South Korea ETF	Other	+$435M	+33.9%
5	IHE	iShares U.S. Pharmaceuticals ETF	Other	+$383M	+30.5%
6	DFGP	Dimensional - Global Core Plus Fixed Income ETF	Other	+$797M	+28.6%
7	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$962M	+24.6%
8	USO	United States Oil Fund, LP	Commodity Energy	+$509M	+24.3%
9	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$3.95B	+23.5%
10	CGSM	Capital Group Short Duration Municipal Income ETF	Other	+$323M	+21.0%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$35.69B	-3.6%
2	VO	Vanguard Mid-Cap ETF	Equity US Mid Cap Core	-$5.4B	-5.1%
3	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$5.11B	-51.9%
4	COWZ	Pacer US Cash Cows 100 ETF	Equity Factor Smart Beta	-$3.1B	-17.3%
5	IQMM	ProShares - GENIUS Money Market ETF	Other	-$3.08B	-15.0%
6	VB	Vanguard Small-Cap ETF	Equity US Small Cap Core	-$2.76B	-3.4%
7	VXF	Vanguard Extended Market ETF	Other	-$2.59B	-8.4%
8	VTV	Vanguard Value ETF	Equity US Large Value	-$2.32B	-1.2%
9	GLD	SPDR Gold Shares	Commodity Gold	-$2.18B	-1.7%
10	FDL	First Trust Morningstar Dividend Leaders Index Fund	Other	-$1.85B	-24.9%

#	Ticker	Name	Type	Net flow	% of AUM
1	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$5.11B	-51.9%
2	NASA	Tema Space Innovators ETF	Equity Thematic	-$734M	-51.8%
3	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$387M	-30.6%
4	FDL	First Trust Morningstar Dividend Leaders Index Fund	Other	-$1.85B	-24.9%
5	COWG	Pacer US Large Cap Cash Cows Growth Leaders ETF	Other	-$539M	-23.6%
6	QLTA	iShares Aaa - A Rated Corporate Bond ETF	Other	-$303M	-21.5%
7	QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	Equity US Nasdaq Growth	-$369M	-20.8%
8	RPV	Invesco S&P 500 Pure Value ETF	Other	-$303M	-19.0%
9	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$278M	-19.0%
10	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$803M	-17.8%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$203.3B), followed by Bond (+$72.0B), while Commodity (−$10.0B) and Crypto (−$7.0B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$89.7B) and out of Gold (−$10.3B).
Relative to fund size, DRAM drew the largest inflow (+153.6% of AUM) and FXN the largest outflow (−61.3%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$54.56B	+6.6%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$28.96B	+3.7%
3	DRAM	Roundhill Memory ETF	Other	+$23.84B	+153.6%
4	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$17.9B	+12.3%
5	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$14.84B	+15.9%
6	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$13.63B	+2.1%
7	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$12.6B	+13.1%
8	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$11.96B	+30.4%
9	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$9.73B	+6.2%
10	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$8.58B	+5.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	DRAM	Roundhill Memory ETF	Other	+$23.84B	+153.6%
2	NASA	Tema Space Innovators ETF	Equity Thematic	+$1.88B	+141.1%
3	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$2.31B	+105.5% ⚠
4	FLKR	Franklin FTSE South Korea ETF	Other	+$633M	+61.7%
5	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.19B	+58.1%
6	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	+$1.13B	+56.6%
7	IALT	iShares Systematic Alternatives Active ETF	Equity Asset Allocation	+$2.3B	+55.9% ⚠
8	FXL	First Trust Technology AlphaDEX Fund	Other	+$930M	+55.6%
9	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$1.36B	+52.6% ⚠
10	CHPY	YieldMax Semiconductor Portfolio Option Income ETF	Other	+$520M	+49.7%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$12.27B	-1.3%
2	GLD	SPDR Gold Shares	Commodity Gold	-$8.01B	-5.5%
3	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$6.38B	-13.8%
4	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.85B	-38.6%
5	IQMM	ProShares - GENIUS Money Market ETF	Other	-$4.66B	-21.7%
6	IBIT	iShares Bitcoin Trust ETF	Crypto	-$4.17B	-8.2%
7	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$3.27B	-7.4%
8	IAU	iShares Gold Trust	Commodity Gold	-$2.76B	-4.0%
9	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$2.55B	-9.2%
10	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$2.36B	-1.9% ⚠

#	Ticker	Name	Type	Net flow	% of AUM
1	FXN	First Trust Energy AlphaDEX Fund	Equity Broad Sector	-$722M	-61.3%
2	EEMA	iShares MSCI Emerging Markets Asia ETF	Other	-$509M	-39.3%
3	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.85B	-38.6%
4	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.16B	-32.2%
5	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$456M	-30.6%
6	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$1.53B	-27.7%
7	QLTA	iShares Aaa - A Rated Corporate Bond ETF	Other	-$397M	-26.7%
8	AKRE	Akre Focus ETF	Equity US Large Growth	-$1.43B	-24.6%
9	SH	ProShares - Short S&P500	Other	-$218M	-21.7%
10	IQMM	ProShares - GENIUS Money Market ETF	Other	-$4.66B	-21.7%

Largest ETF fund flows across ~2563 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About MISL

Holdings Count: 49
Expense Ratio: 0.6%
Inception Date: 2022-10-25

First Trust Indxx Aerospace & Defense ETF
The First Trust Indxx Aerospace & Defense ETF aims to mirror the financial performance, specifically the capital appreciation and income generation, of the Indxx US Aerospace & Defense Index, before factoring in its operational costs. Typically, under ordinary market circumstances, the Fund allocates a minimum of 80% of its net assets, including any capital acquired through borrowing, to the equity securities composing that benchmark index.
Asset Class: Sector Equity | ETF Website

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UTZ	Utz Brands	1.2	88.7%	37.8%
AEHR	Aehr Test Systems	3.0	27.9%	389.9%
LPTH	LightPath Technologies	0.7	22.2%	17.2%
FEIM	Frequency Electronics	0.8	19.7%	48.3%
SWMR	Swarmer	0.7	18.2%	49.0%
OUST	Ouster	2.5	17.0%	88.0%
IE	Ivanhoe Electric	1.4	16.2%	-41.2%
PVLA	Palvella Therapeutics	1.9	15.9%	37.5%
AAOI	Applied Optoelectronics	9.1	15.8%	242.1%
AXTI	AXT	3.0	15.7%	245.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
GTN-A	Gray Media	0.7	-12.4%	-37.3%
DGICB	Donegal	0.8	-11.7%	25.7%
RPD	Rapid7	0.7	-11.2%	-30.2%
DHR	Danaher	126.7	-11.0%	-21.5%
AMC	AMC Entertainment	1.2	-10.6%	41.0%
MSCI	MSCI	41.2	-10.1%	-1.3%
IBTA	Ibotta	0.7	-10.1%	27.8%
TENB	Tenable	4.0	-9.7%	44.9%
PD	PagerDuty	0.7	-9.2%	-28.4%
FIG	Figma	11.5	-8.7%	-41.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
UTZ	Utz Brands	1.2	88.0%	37.8%
LCID	Lucid	2.4	58.4%	-30.7%
IOVA	Iovance Biotherapeutics	2.3	39.4%	100.7%
AEHR	Aehr Test Systems	3.0	37.4%	389.9%
XNCR	Xencor	1.5	36.8%	33.6%
FEIM	Frequency Electronics	0.8	35.5%	48.3%
CDNA	CareDx	2.0	33.2%	104.6%
MAN	ManpowerGroup	2.4	31.9%	77.9%
ELVA	Electrovaya	0.5	29.2%	29.0%
ATAI	AtaiBeckley	2.6	25.8%	74.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
AIAI	AIAI	0.5	-28.3%	-55.1%
PENG	Penguin Solutions	3.0	-25.3%	197.0%
LINC	Lincoln Educational Services	1.3	-23.5%	69.6%
TENB	Tenable	4.0	-20.1%	44.9%
UTI	Universal Technical Institute	2.1	-20.0%	42.8%
SPIR	Spire Global	0.4	-19.6%	55.5%
VICR	Vicor	9.8	-18.8%	95.9%
PNR	Pentair	10.0	-18.8%	-40.6%
ABSI	Absci	1.3	-18.7%	138.4%
BLZE	Backblaze	0.8	-18.5%	189.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CRNX	Crinetics Pharmaceuticals	8.7	133.9%	80.2%
TRAX	First Tracks Biotherapeutics	1.3	114.5%	100.9%
UTZ	Utz Brands	1.2	101.2%	37.8%
DFTX	Definium Therapeutics, Inc.	4.9	84.2%	233.7%
PBF	PBF Energy	7.7	77.1%	147.1%
ATAI	AtaiBeckley	2.6	75.7%	74.4%
MNPR	Monopar Therapeutics	1.0	68.3%	73.9%
ALIT	Alight	9.9	65.0%	-51.8%
BLZE	Backblaze	0.8	64.6%	189.3%
ZBIO	Zenas BioPharma	1.8	63.6%	-10.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
FAC	Factorial Energy	0.6	-64.0%	24.5%
HTZ	Hertz Global	0.6	-63.4%	-64.0%
AIAI	AIAI	0.5	-59.2%	-55.1%
HYLN	Hyliion	0.7	-52.1%	110.9%
ALOY	REalloys	0.5	-49.4%	-4.7%
ABTC	American Bitcoin	6.6	-49.3%	-74.6%
NVTS	Navitas Semiconductor	2.9	-46.6%	79.6%
WOLF	Wolfspeed	1.2	-44.7%	82.3%
EOSE	Eos Energy Enterprises	1.4	-44.6%	-63.0%
YSS	York Space Systems	2.2	-41.6%	-46.5%

Peer Comparisons

Peers to compare with:

Profile

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
Asset Class	Equity	Equity	Equity	Equity	Equity	Equity	-
AUM ($ Bil)	0.7	67.4	45.1	9.4	10.2	13.6	11.9
Expense Ratio	0.60%	0.35%	0.34%	0.44%	0.35%	0.38%	0.36%
10-D Avg Volume (Mil)	0.45	10.99	9.69	1.56	8.95	0.84	5.25
Latest Day Volume (Mil)	0.09	6.83	6.22	1.54	7.12	-	6.22
Holdings Count	49	26	30	248	155	49	49
Inception Date	10/25/2022	12/20/2011	7/10/2001	2/5/2001	1/31/2006	5/1/2006	-

Fundamentals

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
Net Asset Value	42.23	556.28	521.28	189.74	152.05	230.67	-
Premium/Discount	0.8%	5.0%	6.0%	-0.2%	1.6%	-0.4%	1.2%
Distribution Yield	0.4%	0.2%	0.3%	0.2%	0.4%	0.0%	0.2%
Sales Yield	31.2%	6.9%	6.8%	12.8%	8.6%	30.4%	10.7%
Earnings Yield	2.4%	2.1%	1.7%	2.4%	1.1%	2.6%	2.3%

Valuation

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
P/S (TTM)	3.2x	14.4x	14.8x	7.8x	11.6x	3.3x	9.7x
P/E (TTM)	41.5x	47.9x	59.4x	40.9x	92.2x	39.0x	44.7x
P/FCF (TTM)	50.5x	52.7x	63.9x	277.3x	-	45.0x	52.7x
Forward P/E	32.3x	-	-	-	66.4x	31.2x	32.3x
Forward P/S	2.8x	-	-	-	9.1x	3.0x	3.0x

Risk

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
Volatility (1Y)	24.2%	37.3%	42.8%	20.5%	26.7%	22.1%	25.5%
Volatility (3Y)	20.2%	36.3%	38.7%	20.3%	27.5%	19.8%	23.9%
Volatility (5Y)	19.6%	36.2%	37.9%	22.1%	32.3%	20.2%	27.2%
Beta (1Y)	1.13	2.31	2.49	0.80	1.04	1.02	1.09
Beta (3Y)	0.84	1.96	2.04	0.82	1.03	0.85	0.94
Beta (5Y)	0.80	1.75	1.80	0.86	1.16	0.82	1.01
Sharpe Ratio (1Y)	0.44	2.07	2.11	1.96	2.33	0.84	2.01
Sharpe Ratio (3Y)	1.13	1.40	1.21	0.75	0.87	1.28	1.17
Sharpe Ratio (5Y)	1.12	1.03	0.90	0.27	0.27	0.89	0.89
Max Drawdown (1Y)	-17.1%	-16.8%	-20.3%	-9.6%	-9.7%	-15.8%	-16.3%
Max Drawdown (3Y)	-17.9%	-35.7%	-41.4%	-24.9%	-33.0%	-15.8%	-28.9%
Max Drawdown (5Y)	-17.9%	-45.3%	-45.8%	-39.8%	-54.0%	-18.7%	-42.6%

Returns

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
1M Return	-8.3%	-11.5%	-13.6%	9.0%	9.8%	-3.9%	-6.1%
3M Return	-9.4%	25.9%	32.4%	7.7%	12.1%	-0.9%	9.9%
6M Return	-16.5%	45.9%	61.5%	11.5%	24.4%	-5.7%	17.9%
YTD Return	-0.6%	62.2%	83.6%	12.3%	26.7%	7.1%	19.5%
1Y Return	8.2%	101.8%	124.9%	46.3%	79.7%	17.7%	63.0%
2Y Return	47.0%	115.0%	113.6%	28.6%	52.3%	69.2%	60.7%
3Y Return	86.4%	277.3%	226.3%	48.8%	84.0%	102.0%	94.2%

Short Interest

Short Interest: As Of Date	6302026
Short Interest: Shares Quantity	0.0 Mil
Short Interest: % Change Since 6152026	77.6%
Average Daily Volume	0.1 Mil
Days-to-Cover Short Interest	1

External Quote Links

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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/22/2026): $42.54

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/22/2026): $42.54

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