First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (10/20/2026): $41.11

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (10/20/2026): $41.11

Key Takeaways

MISL has returned -3.9% YTD vs +13.0% for SPY; -2.0% over the past 12 months (SPY +16.3%). details →
Priced in gold, MISL has returned -11.9% over the past 3 years, vs +86.8% in dollars — its dollar gains have lagged gold. details →
Over the past month, MISL has seen net inflows of +$41M (+5.9% of assets). details →
MISL's portfolio trades at 30.4x forward earnings — a 286% premium to SPY (7.9x). details →
MISL's top 10 holdings represent 65% of the fund vs 39% for SPY — a more concentrated portfolio. details →

Last updated: 10/19/2026.

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

8.0%

Sharpe

0.58

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%	-0.0%	-2.5%	-3.0%	-3.9%
Bond	BND	50.0%	-0.3%	0.5%	-0.5%	-1.8%
Gold	GLD	10.0%	-0.6%	-0.6%	-5.4%	-4.2%
Commodity	DBC	2.5%	0.0%	1.2%	2.5%	50.9%
Real Estate	VNQ	5.0%	-1.1%	-0.7%	-1.5%	5.4%
Bitcoin	BTCUSD	0.0%	0.6%	0.3%	1.4%	-6.3%
Cash	GOVT	7.5%	-0.3%	0.6%	-0.5%	-2.0%
Conservative Portfolio		100.0%	-0.3%	-0.4%	-1.6%	-0.9%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	55.0%	-0.0%	-2.5%	-3.0%	-3.9%
Bond	BND	25.0%	-0.3%	0.5%	-0.5%	-1.8%
Gold	GLD	7.0%	-0.6%	-0.6%	-5.4%	-4.2%
Commodity	DBC	4.0%	0.0%	1.2%	2.5%	50.9%
Real Estate	VNQ	5.0%	-1.1%	-0.7%	-1.5%	5.4%
Bitcoin	BTCUSD	2.0%	0.6%	0.3%	1.4%	-6.3%
Cash	GOVT	2.0%	-0.3%	0.6%	-0.5%	-2.0%
Moderate Portfolio		100.0%	-0.2%	-1.3%	-2.1%	-0.8%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	80.0%	-0.0%	-2.5%	-3.0%	-3.9%
Bond	BND	5.0%	-0.3%	0.5%	-0.5%	-1.8%
Gold	GLD	3.0%	-0.6%	-0.6%	-5.4%	-4.2%
Commodity	DBC	2.2%	0.0%	1.2%	2.5%	50.9%
Real Estate	VNQ	4.5%	-1.1%	-0.7%	-1.5%	5.4%
Bitcoin	BTCUSD	5.2%	0.6%	0.3%	1.4%	-6.3%
Cash	GOVT	0.0%	-0.3%	0.6%	-0.5%	-2.0%
Aggressive Portfolio		100.0%	-0.1%	-2.0%	-2.5%	-2.3%

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	25.0%	0.0%	11.3%	0.39
Bond	BND	50.0%	1.3%	5.2%	-0.28
Gold	GLD	10.0%	12.2%	15.4%	0.65
Commodity	DBC	2.5%	8.3%	17.3%	0.37
Real Estate	VNQ	5.0%	5.1%	17.5%	0.20
Bitcoin	BTCUSD	0.0%	63.1%	76.6%	0.97
Cash	GOVT	7.5%	0.3%	4.9%	-0.49
Conservative Portfolio		100.0%	4.3%	6.0%	0.25

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	55.0%	0.0%	11.3%	0.39
Bond	BND	25.0%	1.3%	5.2%	-0.28
Gold	GLD	7.0%	12.2%	15.4%	0.65
Commodity	DBC	4.0%	8.3%	17.3%	0.37
Real Estate	VNQ	5.0%	5.1%	17.5%	0.20
Bitcoin	BTCUSD	2.0%	63.1%	76.6%	0.97
Cash	GOVT	2.0%	0.3%	4.9%	-0.49
Moderate Portfolio		100.0%	7.4%	8.0%	0.58

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	80.0%	0.0%	11.3%	0.39
Bond	BND	5.0%	1.3%	5.2%	-0.28
Gold	GLD	3.0%	12.2%	15.4%	0.65
Commodity	DBC	2.2%	8.3%	17.3%	0.37
Real Estate	VNQ	4.5%	5.1%	17.5%	0.20
Bitcoin	BTCUSD	5.2%	63.1%	76.6%	0.97
Cash	GOVT	0.0%	0.3%	4.9%	-0.49
Aggressive Portfolio		100.0%	10.7%	10.8%	0.74

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

Learn More →

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

Top 20 Holdings for MISL

Total Weights
Top 5: 45.8% | Top 10: 64.9% | Top 20: 88.4%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.80%	100.00%	100.00%	2.7	30.4	+11.7%	+16.5%
Top 20		88.44%	79.39%	86.83%	3.0	31.8	+12.6%	+16.3%
PLTR	Palantir Technologies	14.09%	0.59%	3.63%	40.0	80.2	+50.2%	+48.7%
SPCX	SpaceX	9.23%	0.69%	—	8.8	160.4	+146.9%	+179.2%
RTX	RTX	8.00%	9.10%	9.48%	2.5	24.4	+7.7%	+8.8%
GE	GE Aerospace	7.33%	3.62%	8.08%	5.9	35.0	+11.0%	+11.3%
BA	Boeing	7.18%	14.08%	4.60%	1.4	64.7	+14.9%	—
LMT	Lockheed Martin	4.12%	7.94%	8.17%	1.5	17.0	+6.1%	+6.6%
NOC	Northrop Grumman	3.82%	7.13%	9.41%	1.6	17.0	+6.8%	+4.0%
GD	General Dynamics	3.80%	7.12%	7.34%	1.6	18.4	+5.0%	+9.3%
TDG	TransDigm	3.69%	1.78%	4.76%	5.5	23.2	+7.2%	+14.5%
HEI	Heico	3.62%	1.37%	2.83%	7.2	41.8	+11.1%	+14.2%
LHX	L3Harris Technologies	3.46%	5.51%	5.63%	1.8	18.6	+7.4%	+12.2%
HWM	Howmet Aerospace	3.43%	1.12%	2.90%	7.8	34.8	+14.4%	+19.7%
RKLB	Rocket Lab	3.39%	0.25%	—	24.9	—	+42.3%	—
WWD	Woodward	2.28%	1.54%	2.56%	4.1	29.7	+9.9%	+18.0%
CW	Curtiss-Wright	2.14%	1.34%	2.51%	4.5	29.5	+8.3%	+9.2%
ASTS	AST SpaceMobile	2.11%	0.06%	—	21.5	—	+319.7%	—
FTAI	FTAI Aviation	1.97%	1.16%	2.32%	2.8	14.1	+68.1%	+126.7%
LDOS	Leidos	1.74%	6.08%	5.98%	0.8	10.2	+4.1%	-6.2%
CACI	CACI International	1.55%	3.44%	2.43%	1.2	17.5	+6.6%	+12.6%
TXT	Textron	1.49%	5.45%	4.20%	0.8	10.4	+3.8%	+13.4%

[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 10/31/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 10/31/27.
[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 10/19	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
MISL	First Trust Indxx Aerospace & Defense ETF	100.00%	41.11	-0.0%	-3.0%	-3.9%	-2.0%	86.8%
PLTR	Palantir Technologies	14.09%	194.15	4.4%	9.3%	9.2%	9.0%	1,105.2%	701.6%
SPCX	SpaceX	9.23%	147.96	1.3%	-3.1%
RTX	RTX	8.00%	192.11	-0.9%	-1.0%	5.9%	23.4%	181.1%	133.3%	317.4%
GE	GE Aerospace	7.33%	311.28	-0.8%	-0.8%	1.5%	4.3%	274.0%	378.8%	146.5%
BA	Boeing	7.18%	191.42	0.6%	-3.4%	-11.8%	-10.1%	6.3%	-11.4%	53.4%
LMT	Lockheed Martin	4.12%	548.23	-0.7%	2.8%	15.4%	13.6%	33.7%	68.9%	209.6%
NOC	Northrop Grumman	3.82%	510.65	-1.8%	-3.2%	-9.4%	-12.7%	10.5%	38.2%	177.8%
GD	General Dynamics	3.80%	341.43	-0.8%	-2.8%	3.3%	5.0%	54.0%	81.7%	182.3%
TDG	TransDigm	3.69%	1,142.45	0.3%	5.2%	-14.1%	-9.8%	62.4%	113.7%	536.2%
HEI	Heico	3.62%	308.17	-0.5%	3.3%	-4.7%	0.5%	95.3%	123.8%	816.8%
LHX	L3Harris Technologies	3.46%	243.84	-1.9%	-1.4%	-15.9%	-12.7%	46.7%	10.8%	224.7%
HWM	Howmet Aerospace	3.43%	220.03	-0.4%	-4.2%	7.5%	16.2%	410.7%	621.5%	1,019.8%
RKLB	Rocket Lab	3.39%	51.36	1.0%	-20.5%	-26.4%	-22.5%	1,155.7%	303.8%
WWD	Woodward	2.28%	329.30	0.2%	2.3%	9.2%	33.5%	169.5%	195.8%	500.1%
CW	Curtiss-Wright	2.14%	497.11	-1.0%	-12.5%	-9.7%	-8.7%	148.4%	284.9%	521.4%
ASTS	AST SpaceMobile	2.11%	41.87	3.0%	-28.5%	-42.4%	-49.9%	1,329.0%	298.8%
FTAI	FTAI Aviation	1.97%	163.34	-0.7%	-14.4%	-16.6%	-1.2%	405.1%	767.9%	2,778.8%
LDOS	Leidos	1.74%	126.05	1.0%	-1.3%	-29.5%	-30.9%	40.6%	34.0%	250.9%
CACI	CACI International	1.55%	616.48	0.4%	-1.7%	15.7%	19.5%	88.5%	118.3%	515.6%
TXT	Textron	1.49%	76.20	0.4%	-4.4%	-12.5%	-6.3%	0.7%	2.9%	98.4%

Guidance Updates for MISL Top Holdings

	Ticker	Company	Earnings Date	Guidance Metric	Midpoint Value	% Change	Guidance Change
CACI_8052026	CACI	CACI International	8/5/2026	2027 Revenue	10.75 Bil	12.6%	Higher NewNew Guidance Higher than Prior Actual of 9.55 Bil for 2026
HWM_8062026	HWM	Howmet Aerospace	8/6/2026	Q3 2026 Revenue	2.58 Bil	7.3%	Higher NewNew Guidance Higher than Prior Actual of 2.40 Bil for Q2 2026
PLTR_8032026	PLTR	Palantir Technologies	8/3/2026	2026 Revenue	8.15 Bil	6.5%	RaisedRaised Prior Guidance of 7.66 Bil for 2026
RKLB_8102026	RKLB	Rocket Lab	8/10/2026	Q3 2026 Revenue	257.50 Mil	10.8%	Higher NewNew Guidance Higher than Prior Actual of 232.50 Mil for Q2 2026

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
MISL Return	-	8%	15%	20%	41%	-4%	103%
Peers Return	15%	-20%	33%	13%	40%	30%	155%
S&P 500 Return	27%	-19%	24%	23%	16%	12%	104%
Monthly Win Rates [3]
MISL Win Rate	-	100%	58%	58%	83%	40%
Peers Win Rate	58%	45%	62%	58%	67%	64%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
MISL Max Drawdown	-	-	-10%	-10%	-16%	-19%
Peers Max Drawdown	-20%	-37%	-19%	-18%	-26%	-20%
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 10/19/2026 (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	0.05	0.96	0.82
Equity Top Results (3Y)
IALT	2.30	2.30	2.30
VLUE	2.18	1.44	0.76
SPMO	0.89	1.43	0.86
SMH	1.69	1.38	0.95
CGDV	1.03	1.35	0.89

Results as of 9302026.

null

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.

null

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 5 events since 10/26/2022 where the dip threshold of -5.0% within 60 trading days was triggered

46% median peak return within 1 year of dip event
368 days is the median time to peak return after a dip event
-2.1% median max drawdown within 1 year of dip event

60 Trading-Day Dip			MISL Subsequent Performance
Date	MISL	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			45%	46%	-2%	368
8/24/2026	-9%	1%			-8%	3
4/15/2026	-7%	1%			-13%	43
12/31/2024	-5%	3%	54%	55%	-10%	371
9/25/2023	-6%	-1%	45%	46%	-2%	364
5/4/2023	-6%	-2%	30%	30%	-1%	368

[1] Dip event: the stock fell more than 5.0% over 60 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/19/2026

MISL had 4 events since 10/26/2022 where the dip threshold of -10% within 90 trading days was triggered

80% median peak return within 1 year of dip event
302 days is the median time to peak return after a dip event
-3.2% median max drawdown within 1 year of dip event

90 Trading-Day Dip			MISL Subsequent Performance
Date	MISL	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			68%	80%	-3%	302
10/1/2026	-10%	3%			-2%	5
7/10/2026	-12%	11%			-8%	35
4/4/2025	-13%	-14%	70%	86%	0%	287
3/4/2025	-10%	-1%	66%	74%	-6%	318

[1] Dip event: the stock fell more than 10% over 90 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/19/2026

null

Get Notified
Alerts when dip buy opportunities arise.

Notify Me →

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
QQQ	Invesco QQQ Trust, Series 1	-5.4%	718.36	10192026	759.66	10062026	13
QQQM	Invesco NASDAQ 100 ETF	-5.4%	295.78	10192026	312.76	10062026	13
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-6.3%	156.43	10192026	167.03	8132026	67
IJH	iShares Core S&P Mid-Cap ETF	-8.0%	72.38	10192026	78.67	8162026	64
IWR	iShares Russell Mid-Cap ETF	-5.7%	108.33	10192026	114.82	8162026	64
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-7.9%	660.40	10192026	716.91	8162026	64
SCHM	Schwab U.S. Mid-Cap ETF	-7.4%	34.16	10192026	36.87	6302026	111
IVOO	Vanguard S&P Mid-Cap 400 ETF	-7.7%	122.51	10192026	132.68	8162026	64
IJR	iShares Core S&P Small-Cap ETF	-9.7%	135.82	10192026	150.44	8162026	64
VB	Vanguard Small-Cap ETF	-7.8%	284.42	10192026	308.38	8162026	64
IWM	iShares Russell 2000 ETF	-11.1%	271.28	10192026	305.09	8162026	64
SCHA	Schwab U.S. Small-Cap ETF	-11.2%	32.07	10192026	36.13	6302026	111
VTWO	Vanguard Russell 2000 ETF	-10.8%	109.60	10192026	122.90	8162026	64
DFAS	Dimensional U.S. Small Cap ETF	-8.2%	77.55	10192026	84.48	8162026	64
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	-8.3%	51.94	10192026	56.64	8162026	64
NUSC	Nuveen ESG Small-Cap ETF	-8.6%	48.71	10192026	53.27	8162026	64
IWF	iShares Russell 1000 Growth ETF	-5.1%	122.61	10192026	129.19	10062026	13
VONG	Vanguard Russell 1000 Growth ETF	-5.1%	126.21	10192026	133.00	10062026	13
AKRE	Akre Focus ETF	-7.7%	57.08	10192026	61.85	8302026	50
IWP	iShares Russell Mid-Cap Growth ETF	-8.8%	134.69	10192026	147.70	8172026	63
VOT	Vanguard Mid-Cap Growth ETF	-7.8%	289.06	10192026	313.61	8162026	64
IJK	iShares S&P Mid-Cap 400 Growth ETF	-8.9%	108.45	10192026	119.11	8172026	63
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-9.0%	103.47	10192026	113.69	8172026	63
IWO	iShares Russell 2000 Growth ETF	-13.5%	342.42	10192026	395.65	8162026	64
VBK	Vanguard Small-Cap Growth ETF	-10.2%	328.58	10192026	365.91	8172026	63
IJT	iShares S&P Small-Cap 600 Growth ETF	-10.9%	159.53	10192026	179.07	8042026	76
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-10.9%	106.47	10192026	119.50	8042026	76
IJJ	iShares S&P Mid-Cap 400 Value ETF	-7.0%	141.04	10192026	151.67	8162026	64
MDYV	State Street SPDR S&P 400 Mid Cap Value ETF	-6.9%	90.64	10192026	97.39	8162026	64
VBR	Vanguard Small-Cap Value ETF	-6.0%	235.53	10192026	250.56	8162026	64
AVUV	Avantis U.S. Small Cap Value ETF	-7.0%	119.68	10192026	128.74	8042026	76
IWN	iShares Russell 2000 Value ETF	-8.6%	207.85	10192026	227.43	8162026	64
IJS	iShares S&P Small-Cap 600 Value ETF	-8.7%	128.40	10192026	140.68	8162026	64
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	-8.8%	102.35	10192026	112.22	8162026	64
VIOV	Vanguard S&P Small-Cap 600 Value ETF	-8.3%	110.29	10192026	120.28	8162026	64
VXUS	Vanguard Total International Stock ETF	-5.8%	83.29	10192026	88.41	9072026	42
VEU	Vanguard FTSE All-World Ex-US ETF	-5.6%	81.37	10192026	86.21	9072026	42
IXUS	iShares Core MSCI Total International Stock ETF	-5.5%	93.24	10192026	98.71	9072026	42
CWI	State Street SPDR MSCI ACWI ex-US ETF	-5.5%	39.58	10192026	41.90	9072026	42
CORO	iShares International Country Rotation Active ETF	-5.4%	35.51	10192026	37.54	9072026	42
VEA	Vanguard FTSE Developed Markets ETF	-5.8%	69.36	10192026	73.61	8252026	55
IEFA	iShares Core MSCI EAFE ETF	-5.4%	95.96	10192026	101.41	8252026	55
EFA	iShares MSCI EAFE ETF	-5.5%	102.87	10192026	108.81	8252026	55
SCHF	Schwab International Equity ETF	-5.9%	26.91	10192026	28.59	8252026	55
EFV	iShares MSCI EAFE Value ETF	-5.3%	78.64	10192026	83.08	9032026	46
AVIV	Avantis International Large Cap Value ETF	-5.1%	79.64	10192026	83.89	8252026	55
VGK	Vanguard FTSE Europe ETF	-7.0%	86.43	10192026	92.96	8252026	55
SCZ	iShares MSCI EAFE Small-Cap ETF	-5.1%	83.08	10192026	87.57	9072026	42
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-6.1%	151.65	10192026	161.49	5112026	161
SCHC	Schwab International Small-Cap Equity ETF	-6.2%	48.64	10192026	51.86	8272026	53
IEMG	iShares Core MSCI Emerging Markets ETF	-10.1%	77.34	10192026	86.00	6222026	119
VWO	Vanguard FTSE Emerging Markets ETF	-5.4%	58.03	10192026	61.32	9072026	42
EEM	iShares MSCI Emerging Markets ETF	-11.1%	63.31	10192026	71.21	6222026	119
SPEM	State Street SPDR Portfolio Emerging Markets ETF	-5.1%	50.67	10192026	53.41	9072026	42
SCHE	Schwab Emerging Markets Equity ETF	-5.1%	35.67	10192026	37.58	9072026	42
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-16.1%	31.28	10192026	37.30	6222026	119
EWY	iShares MSCI South Korea ETF	-28.6%	156.58	10192026	219.20	6212026	120
FXI	iShares China Large-Cap ETF	-12.4%	33.53	10192026	38.26	5132026	159
KWEB	KraneShares CSI China Internet ETF	-20.6%	24.28	10192026	30.59	5132026	159
RYLD	Global X Russell 2000 Covered Call ETF	-6.7%	15.08	10192026	16.16	8272026	53
MTUM	iShares MSCI USA Momentum Factor ETF	-14.3%	295.71	10192026	345.22	6222026	119
SPHQ	Invesco S&P 500 Quality ETF	-6.5%	84.27	10192026	90.10	6302026	111
FNDA	Schwab Fundamental U.S. Small Company ETF	-8.5%	35.24	10192026	38.52	8162026	64
SPMO	Invesco S&P 500 Momentum ETF	-12.2%	141.99	10192026	161.66	6222026	119
VLUE	iShares MSCI USA Value Factor ETF	-6.3%	192.64	10192026	205.51	9072026	42
ARKK	ARK Innovation ETF	-11.3%	82.31	10192026	92.78	10052026	14
URA	Global X Uranium ETF	-39.5%	35.27	10192026	58.26	5062026	166
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-19.9%	33.35	10192026	41.63	5132026	159
ROBO	ROBO Global Robotics & Automation Index ETF	-16.0%	75.92	10192026	90.34	6022026	139
LIT	Global X Lithium & Battery Tech ETF	-29.5%	64.61	10192026	91.62	5112026	161
ICLN	iShares Global Clean Energy ETF	-31.5%	16.26	10192026	23.75	6022026	139
ARKQ	ARK Autonomous Technology & Robotics ETF	-21.1%	113.51	10192026	143.82	5282026	144
ARKW	ARK Next Generation Internet ETF	-6.7%	156.13	10192026	167.33	10062026	13
ARKX	ARK Space & Defense Innovation ETF	-20.4%	30.03	10192026	37.74	5282026	144
NASA	Tema Space Innovators ETF	-50.5%	20.74	10192026	41.89	5272026	145
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	-6.1%	21.06	10192026	22.43	10052026	14
AGIX	KraneShares Artificial Intelligence ETF	-10.9%	44.16	10192026	49.56	10062026	13
DRSK	Aptus Defined Risk ETF	-7.7%	27.12	10192026	29.39	6012026	140
ALLW	SSGA Active Trust State Street Bridgewater All Weather ETF	-5.1%	28.89	10192026	30.44	8252026	55
PCEF	Invesco CEF Income Composite ETF	-6.4%	19.06	10192026	20.35	8132026	67
YYY	Amplify CEF High Income ETF	-9.7%	10.27	10192026	11.37	8162026	64
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-10.9%	63.50	10192026	71.30	8252026	55
RAAX	VanEck Real Assets ETF	-5.4%	40.39	10192026	42.70	5112026	161
VGT	Vanguard Information Technology ETF	-7.3%	120.33	10192026	129.80	10062026	13
XLK	State Street Technology Select Sector SPDR ETF	-7.9%	185.96	10192026	202.00	10062026	13
XLF	State Street Financial Select Sector SPDR ETF	-6.0%	55.06	10192026	58.56	9032026	46
XLI	State Street Industrial Select Sector SPDR ETF	-10.6%	166.68	10192026	186.51	8162026	64
XLC	State Street Communication Services Select Sector SPDR ETF	-7.1%	110.09	10192026	118.44	4202026	182
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-6.0%	114.46	10192026	121.82	5282026	144
XLU	State Street Utilities Select Sector SPDR ETF	-11.2%	41.36	10192026	46.55	4302026	172
XLB	State Street Materials Select Sector SPDR ETF	-5.1%	50.95	10192026	53.67	8262026	54
IYJ	iShares U.S. Industrials ETF	-8.0%	156.34	10192026	169.86	8042026	76
IYM	iShares U.S. Basic Materials ETF	-6.7%	183.30	10192026	196.45	8252026	55
SMH	VanEck Semiconductor ETF	-18.0%	548.46	10192026	668.91	6222026	119
SOXX	iShares Semiconductor ETF	-23.4%	501.93	10192026	655.01	6222026	119
IBB	iShares Biotechnology ETF	-5.9%	204.06	10192026	216.96	8192026	61
XBI	State Street SPDR S&P Biotech ETF	-12.8%	147.86	10192026	169.55	8192026	61
ITA	iShares U.S. Aerospace & Defense ETF	-18.0%	207.75	10192026	253.22	8162026	64
IGV	iShares Expanded Tech-Software Sector ETF	-5.9%	105.99	10192026	112.67	10112026	8
IYT	iShares U.S. Transportation ETF	-11.8%	79.38	10192026	90.01	7162026	95
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	-12.4%	173.58	10192026	198.06	9032026	46
KRE	State Street SPDR S&P Regional Banking ETF	-11.1%	69.26	10192026	77.93	8162026	64
MISL	First Trust Indxx Aerospace & Defense ETF	-16.4%	41.11	10192026	49.19	5282026	144
RING	iShares MSCI Global Gold Miners ETF	-18.5%	75.90	10192026	93.17	8252026	55
SOXQ	Invesco PHLX Semiconductor ETF	-22.6%	89.06	10192026	115.11	6222026	119
IGOV	iShares International Treasury Bond ETF	-5.7%	39.84	10192026	42.27	5102026	162
TLT	iShares 20+ Year Treasury Bond ETF	-7.7%	79.46	10192026	86.10	6292026	112
VGLT	Vanguard Long-Term Treasury ETF	-7.0%	51.06	10192026	54.89	6292026	112
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-7.0%	24.30	10192026	26.13	6292026	112
TLH	iShares 10-20 Year Treasury Bond ETF	-6.3%	93.54	10192026	99.78	6292026	112
EDV	Vanguard World Funds Extended Duration ETF	-11.7%	56.97	10192026	64.54	6242026	117
VCLT	Vanguard Long-Term Corporate Bond ETF	-7.0%	69.28	10192026	74.47	6292026	112
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-7.1%	20.61	10192026	22.18	6292026	112
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	-6.9%	46.14	10192026	49.56	6292026	112
LMUB	iShares Long-Term National Muni Bond ETF	-6.7%	47.21	10192026	50.63	7052026	106
GLD	SPDR Gold Trust	-14.1%	379.69	10192026	442.09	4202026	182
IAU	iShares Gold Trust	-13.5%	78.34	10192026	90.57	4202026	182
GLDM	SPDR Gold MiniShares Trust	-14.0%	81.94	10192026	95.26	4202026	182
SLV	iShares Silver Trust	-35.1%	51.51	10192026	79.35	5132026	159
PPLT	ETFS Physical Platinum Shares	-24.2%	14.82	10192026	19.55	5132026	159
PALL	ETFS Physical Palladium Shares	-28.6%	20.24	10192026	28.34	4202026	182
UNG	United States Natural Gas Fund LP	-13.7%	10.46	10192026	12.12	6042026	137
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	10192026	60.13	5042026	168
VNQ	Vanguard Real Estate ETF	-9.4%	90.71	10192026	100.08	7282026	83
XLRE	State Street Real Estate Select Sector SPDR ETF	-9.4%	41.67	10192026	46.01	7282026	83
SCHH	Schwab U.S. REIT ETF	-10.5%	22.25	10192026	24.86	7262026	85
IYR	iShares U.S. Real Estate ETF	-10.3%	96.24	10192026	107.26	7282026	83
REET	iShares Global REIT ETF	-11.4%	25.60	10192026	28.89	7262026	85
USRT	iShares Core U.S. REIT ETF	-11.8%	61.57	10192026	69.82	7262026	85
IBIT	iShares Bitcoin Trust ETF	-5.5%	46.30	10192026	49.01	9212026	28
FBTC	Fidelity Wise Origin Bitcoin Fund	-5.5%	71.14	10192026	75.31	9212026	28
ETHA	iShares Ethereum Trust ETF	-10.5%	54.11	10192026	60.45	9282026	21

ETF Fund Flows

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

Net fund flows · as of 2026-10-16

Asset allocation rotation · Past week

Equity ETFs drew the largest net inflows (+$14.4B), followed by Commodity (+$766M), while Crypto (−$396M) and Real Estate (−$223M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$9.6B) and out of Long Treasury (−$3.1B).
Relative to fund size, CNEQ drew the largest inflow (+22.2% of AUM) and EWP the largest outflow (−15.2%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$5.47B	+0.7%
2	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$3.36B	+0.3%
3	MUB	iShares National Muni Bond ETF	Bond Municipal	+$1.52B	+3.0%
4	CNEQ	Alger Concentrated Equity ETF	Other	+$1.26B	+22.2%
5	SPYV	State Street SPDR Portfolio S&P 500 Value ETF	Equity US Large Value	+$1.17B	+3.1%
6	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$1.15B	+8.4%
7	EMXC	iShares MSCI Emerging Markets ex China ETF	Other	+$942M	+3.8%
8	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$933M	+0.1%
9	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$798M	+0.7%
10	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$784M	+0.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$1.26B	+22.2%
2	SCMB	Schwab Municipal Bond ETF	Other	+$657M	+18.1%
3	ALAI	Alger AI Enablers & Adopters ETF	Other	+$281M	+15.9%
4	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$187M	+14.2%
5	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$1.15B	+8.4%
6	VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	Other	+$166M	+8.4%
7	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	+$374M	+8.2%
8	FLTW	Franklin FTSE Taiwan ETF	Other	+$362M	+7.5%
9	SKOR	Northern Trust Credit-Scored US Corporate Bond ETF	Other	+$66M	+6.4%
10	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$149M	+6.0%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$3.09B	-6.5%
2	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$1.54B	-0.3%
3	DRAM	Roundhill Memory ETF	Other	-$973M	-4.9%
4	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$794M	-4.7%
5	MBB	iShares MBS ETF	Bond Mortgage Backed	-$658M	-1.9%
6	XLP	State Street Consumer Staples Select Sector SPDR ETF	Equity Broad Sector	-$527M	-3.6%
7	RSP	Invesco S&P 500 Equal Weight ETF	Equity Factor Smart Beta	-$523M	-0.5%
8	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$522M	-1.8%
9	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$415M	-0.9%
10	XLY	State Street Consumer Discretionary Select Sector SPDR ETF	Equity Broad Sector	-$414M	-1.9%

#	Ticker	Name	Type	Net flow	% of AUM
1	EWP	iShares MSCI Spain ETF	Other	-$309M	-15.2%
2	XHB	State Street SPDR S&P Homebuilders ETF	Other	-$147M	-9.7%
3	XSD	State Street SPDR S&P Semiconductor ETF	Other	-$244M	-8.8%
4	CQQQ	Invesco China Technology ETF	Other	-$196M	-8.7%
5	IHI	iShares U.S. Medical Devices ETF	Other	-$317M	-8.7%
6	ICF	iShares Select U.S. REIT ETF	Other	-$161M	-7.9%
7	EWS	iShares MSCI Singapore ETF	Other	-$88M	-7.8%
8	IYJ	iShares U.S. Industrials ETF	Equity Broad Sector	-$133M	-6.9%
9	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$3.09B	-6.5%
10	TLTW	iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	Other	-$103M	-6.5%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$63.9B), followed by Bond (+$33.0B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$33.9B) and out of Factor Smart Beta (−$8.6B).
Relative to fund size, CNEQ drew the largest inflow (+90.3% of AUM) and MTBA the largest outflow (−33.9%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$34.23B	+3.9%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$20.78B	+2.5%
3	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$9.63B	+5.4%
4	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$7.49B	+1.5%
5	MUB	iShares National Muni Bond ETF	Bond Municipal	+$6.14B	+12.8%
6	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.79B	+33.1%
7	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$5.75B	+11.9%
8	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.19B	+39.7%
9	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$5.12B	+4.5%
10	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$4.55B	+9.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$2.96B	+90.3%
2	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$4.12B	+41.2%
3	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.19B	+39.7%
4	ALAI	Alger AI Enablers & Adopters ETF	Other	+$520M	+38.4%
5	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.79B	+33.1%
6	BLCR	iShares Large Cap Core Active ETF	Other	+$2.91B	+30.3%
7	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$663M	+29.3%
8	VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	Other	+$497M	+28.7%
9	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$318M	+26.8%
10	GGOV	iShares Global Government Bond USD Hedged Active ETF	Bond International	+$1.08B	+26.6%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$30.72B	-2.9%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.4B	-26.5%
3	COWZ	Pacer US Cash Cows 100 ETF	Equity Factor Smart Beta	-$3.69B	-19.5%
4	MBB	iShares MBS ETF	Bond Mortgage Backed	-$3.33B	-9.3%
5	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$3.1B	-6.4%
6	ARKK	ARK Innovation ETF	Equity Thematic	-$2.74B	-31.7%
7	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$2.44B	-5.4%
8	DRAM	Roundhill Memory ETF	Other	-$2.34B	-9.0%
9	VO	Vanguard Morningstar Mid-Cap ETF	Equity US Mid Cap Core	-$2.15B	-2.0%
10	VFLO	VictoryShares Free Cash Flow ETF	Other	-$2.08B	-18.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	MTBA	Simplify MBS ETF	Other	-$341M	-33.9%
2	ARKK	ARK Innovation ETF	Equity Thematic	-$2.74B	-31.7%
3	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.4B	-26.5%
4	CALF	Pacer US Small Cap Cash Cows ETF	Other	-$781M	-21.8%
5	COWZ	Pacer US Cash Cows 100 ETF	Equity Factor Smart Beta	-$3.69B	-19.5%
6	VFLO	VictoryShares Free Cash Flow ETF	Other	-$2.08B	-18.7%
7	EUFN	iShares MSCI Europe Financials ETF	Other	-$665M	-17.9%
8	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$241M	-17.7%
9	JNK	State Street SPDR Bloomberg High Yield Bond ETF	Bond High Yield Corporate	-$1.0B	-17.0%
10	IWX	iShares Russell Top 200 Value ETF	Other	-$546M	-14.9%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$149.9B), followed by Bond (+$65.0B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$34.8B) and out of Industry Subsector (−$6.0B).
Relative to fund size, CNEQ drew the largest inflow (+206.7% of AUM) and FTXL the largest outflow (−76.0%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$28.79B	+2.8%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$18.26B	+10.7%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$17.31B	+16.2%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$16.43B	+2.4%
5	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$12.95B	+2.7%
6	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$9.78B	+8.9%
7	GLD	SPDR Gold Shares	Commodity Gold	+$8.41B	+5.9%
8	MUB	iShares National Muni Bond ETF	Bond Municipal	+$8.0B	+17.5%
9	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$7.9B	+7.6%
10	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$7.76B	+1.0%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$5.13B	+206.7%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$1.33B	+118.8%
3	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.93B	+79.3%
4	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.25B	+74.3%
5	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.31B	+72.5%
6	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.67B	+67.7%
7	ARKK	ARK Innovation ETF	Equity Thematic	+$3.82B	+59.6% ⚠
8	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$880M	+55.8%
9	XAGG	Morgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETF	Other	+$798M	+54.2%
10	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$6.46B	+51.8%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$20.31B	-2.3%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.86B	-28.0%
3	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$4.69B	-15.3%
4	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.18B	-9.9%
5	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$4.16B	-9.5%
6	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$2.67B	-9.4%
7	MBB	iShares MBS ETF	Bond Mortgage Backed	-$2.67B	-6.9%
8	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$2.61B	-4.7%
9	DRAM	Roundhill Memory ETF	Other	-$2.6B	-10.2%
10	AIRR	First Trust RBA American Industrial RenaissanceTM ETF	Other	-$1.86B	-19.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$1.01B	-76.0%
2	USO	United States Oil Fund, LP	Commodity Energy	-$854M	-44.6%
3	MTBA	Simplify MBS ETF	Other	-$550M	-38.0%
4	TAN	Invesco Solar ETF	Other	-$383M	-37.1%
5	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$559M	-34.0%
6	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$548M	-30.0%
7	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.86B	-28.0%
8	BKAG	BNY Mellon Core Bond ETF	Other	-$619M	-27.6%
9	FTCS	First Trust Capital Strength ETF	Other	-$1.63B	-21.0%
10	IWX	iShares Russell Top 200 Value ETF	Other	-$821M	-20.9%

Largest ETF fund flows across ~2578 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

Set Alerts and Notifications

Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Dip buy opportunities on MISL

Dip buy opportunities across sector ETFs

Quarterly SPY valuation update

Quarterly asset allocation considerations

Inform Me Once

Trefis High Quality Strategy

Asset Allocation Audit

Asset Rotation Strategies

Tax-Efficient Strategies

About MISL

Holdings Count: 39
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
IRON	Disc Medicine	3.1	38.9%	-0.6%
ANNX	Annexon	0.8	17.6%	-20.1%
CLF	Cleveland-Cliffs	8.1	16.3%	6.2%
MANE	Veradermics	4.9	12.4%	223.9%
AGIO	Agios Pharmaceuticals	2.1	11.4%	28.2%
PBLS	Parabilis Medicines	0.7	11.4%	-19.8%
ARQT	Arcutis Biotherapeutics	4.2	10.7%	9.8%
SGMT	Sagimet Biosciences	0.5	10.5%	49.7%
PRME	Prime Medicine	0.7	10.4%	10.4%
AXTI	AXT	3.5	10.3%	247.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
GLAS	Glass House Brands	0.2	-22.9%	-72.2%
HPP	Hudson Pacific Properties	0.6	-12.4%	-16.7%
GEMI	Gemini Space Station	0.4	-9.9%	-67.6%
FNMA	Federal National Mortgage Association...	20.1	-9.0%	-68.1%
FMCC	Federal Home Loan Mortgage	10.2	-8.5%	-69.0%
OCUL	Ocular Therapeutix	1.4	-8.4%	-48.2%
IBRX	ImmunityBio	8.8	-8.3%	325.3%
DJT	Trump Media & Technology	1.8	-8.0%	-51.4%
XNDU	Xanadu Quantum Technologies	0.8	-7.9%	-75.7%
WERN	Werner Enterprises	1.8	-7.9%	2.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
IRON	Disc Medicine	3.1	30.5%	-0.6%
LQDA	Liquidia	3.0	23.3%	-1.0%
BH	Biglari	1.4	23.0%	35.3%
ARQT	Arcutis Biotherapeutics	4.2	21.6%	9.8%
BH-A	Biglari	1.4	20.7%	25.4%
CBRL	Cracker Barrel Old Country Store	1.5	17.9%	178.3%
GRNT	Granite Ridge Resources	0.7	17.9%	28.9%
HPK	HighPeak Energy	1.4	17.3%	140.3%
OPK	OPKO Health	1.2	16.7%	27.8%
BROS	Dutch Bros	5.8	15.0%	-30.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
GLAS	Glass House Brands	0.2	-39.7%	-72.2%
FMC	FMC	0.7	-35.6%	-60.6%
QMCO	Quantum	0.4	-33.4%	183.9%
NUAI	New Era Energy & Digital	0.3	-31.6%	1.4%
CIFR	Cipher Digital	3.7	-31.2%	-39.4%
FUN	Six Flags Entertainment	0.8	-30.3%	-45.8%
FRVO	Fervo Energy	1.4	-29.3%	-75.1%
PENG	Penguin Solutions	2.9	-28.6%	189.1%
BLZE	Backblaze	0.6	-26.6%	99.4%
VICR	Vicor	8.8	-26.5%	74.0%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MYPS	PLAYSTUDIOS	0.5	719.9%	493.6%
KOD	Kodiak Sciences	5.7	179.3%	226.7%
CBRL	Cracker Barrel Old Country Store	1.5	53.7%	178.3%
GRAL	GRAIL	5.3	51.6%	43.0%
FIGS	FIGS	3.2	48.9%	71.2%
MRNA	Moderna	90.3	47.3%	669.4%
PCRX	Pacira BioSciences	1.4	47.2%	40.4%
TTAN	ServiceTitan	7.4	42.2%	-26.5%
PTC	PTC	22.1	42.1%	10.8%
SG	Sweetgreen	1.2	41.0%	50.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CTVA	Corteva	8.5	-84.3%	-81.0%
GLAS	Glass House Brands	0.2	-69.1%	-72.2%
XNDU	Xanadu Quantum Technologies	0.8	-62.3%	-75.7%
EMAT	Evolution Metals & Technologies	1.0	-61.7%	-92.8%
EOSE	Eos Energy Enterprises	0.6	-54.3%	-84.2%
SHAZ	SharonAI	0.5	-53.0%	-70.8%
CIFR	Cipher Digital	3.7	-51.3%	-39.4%
QURE	uniQure	1.5	-49.5%	-7.2%
NUAI	New Era Energy & Digital	0.3	-49.3%	1.4%
BRUN	Boost Run	0.5	-49.2%	-58.1%

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	71.2	45.9	10.8	10.3	12.0	11.4
Expense Ratio	0.60%	0.35%	0.33%	0.44%	0.35%	0.37%	0.36%
10-D Avg Volume (Mil)	0.09	9.54	9.08	1.62	9.05	0.73	5.33
Latest Day Volume (Mil)	0.06	18.39	14.67	1.76	11.75	-	11.75
Holdings Count	39	26	30	243	165	50	44
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	41.54	590.52	559.84	206.30	153.72	206.71	-
Premium/Discount	-1.0%	-7.1%	-10.3%	-1.1%	-3.8%	0.5%	-2.4%
Distribution Yield	0.4%	0.2%	0.3%	0.2%	0.4%	0.0%	0.2%
Sales Yield	31.7%	8.0%	8.4%	12.0%	9.7%	33.2%	10.9%
Earnings Yield	2.5%	2.7%	2.4%	1.8%	1.5%	3.0%	2.5%

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	12.5x	11.9x	8.3x	10.3x	3.0x	9.3x
P/E (TTM)	39.7x	36.4x	41.4x	55.8x	69.0x	33.3x	40.5x
P/FCF (TTM)	57.3x	43.4x	47.3x	150.9x	-	37.9x	47.3x
Forward P/E	30.4x	-	-	-	47.3x	26.8x	30.4x
Forward P/S	2.7x	-	-	-	8.0x	2.7x	2.7x

Risk

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
Volatility (1Y)	25.3%	39.6%	45.9%	22.5%	28.9%	23.1%	27.1%
Volatility (3Y)	20.7%	37.2%	40.0%	21.3%	28.2%	20.0%	24.7%
Volatility (5Y)	19.7%	36.8%	38.8%	22.3%	32.5%	20.3%	27.4%
Beta (1Y)	1.21	2.37	2.61	0.80	1.10	1.01	1.15
Beta (3Y)	0.87	1.98	2.07	0.82	1.05	0.85	0.96
Beta (5Y)	0.82	1.77	1.83	0.86	1.16	0.81	1.01
Sharpe Ratio (1Y)	0.02	1.39	1.44	1.39	1.24	0.15	1.32
Sharpe Ratio (3Y)	1.09	1.35	1.15	0.93	1.05	1.21	1.12
Sharpe Ratio (5Y)	1.00	1.00	0.85	0.37	0.27	0.78	0.81
Max Drawdown (1Y)	-19.4%	-24.6%	-29.0%	-9.6%	-14.9%	-19.6%	-19.5%
Max Drawdown (3Y)	-19.4%	-35.7%	-41.4%	-24.9%	-33.0%	-19.6%	-28.9%
Max Drawdown (5Y)	-19.4%	-45.3%	-45.8%	-35.7%	-53.2%	-19.6%	-40.5%

Returns

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
1M Return	-3.0%	-4.3%	-5.8%	-0.2%	-5.7%	-2.8%	-3.6%
3M Return	-3.4%	-6.1%	-9.2%	7.8%	-4.3%	-9.6%	-5.2%
6M Return	-12.4%	18.2%	20.3%	16.1%	7.3%	-10.3%	11.7%
YTD Return	-3.9%	52.3%	66.9%	21.0%	21.3%	-3.1%	21.1%
1Y Return	-2.7%	60.3%	74.1%	33.3%	37.5%	0.9%	35.4%
2Y Return	28.0%	111.5%	111.4%	40.6%	49.8%	36.6%	45.2%
3Y Return	84.7%	265.3%	212.4%	69.7%	116.3%	94.8%	105.5%

Short Interest

Short Interest: As Of Date	9302026
Short Interest: Shares Quantity	0.0 Mil
Short Interest: % Change Since 9152026	-77.5%
Average Daily Volume	0.1 Mil
Days-to-Cover Short Interest	1

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (10/20/2026): $41.11

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (10/20/2026): $41.11

Key Takeaways

Price Chart

Asset Allocation with MISL

Valuation & Yield

Top 20 Holdings for MISL

Performance for MISL Top Holdings

Guidance Updates for MISL Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

MISL Dip Buy History

Current Dip Buy Opportunities Across ETFs

ETF Fund Flows

Asset allocation rotation · Past week

Asset allocation rotation · Past month

Asset allocation rotation · Past 3 months

Set Alerts and Notifications

Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Inform Me Once

About MISL

Latest Trefis Analyses

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Profile

Fundamentals

Valuation

Risk

Returns

Short Interest

Returns Analyses

External Quote Links