First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/26/2026): $43.42

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/26/2026): $43.42

Key Takeaways

MISL has returned +1.6% YTD vs +8.7% for SPY; +10.6% over the past 12 months (SPY +17.0%). details →
Priced in gold, MISL has returned -8.9% over the past 3 years, vs +88.1% in dollars — its dollar gains have lagged gold. details →
Over the past month, MISL has seen net outflows of −$18M (−2.4% of assets). details →
MISL's portfolio trades at 31.5x forward earnings — a 312% premium to SPY (7.6x). details →
MISL's top 10 holdings represent 58% of the fund vs 38% for SPY — a more concentrated portfolio. details →

Last updated: 7/25/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with MISL

Risk Tolerance:

ConservativeModerateAggressive

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

10Y Return (ann.)

+7.6%

Volatility

7.8%

Sharpe

0.63

YTD

+2.0%

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%	0.1%	2.2%	-1.1%	1.6%
Bond	BND	50.0%	0.1%	-0.8%	-1.4%	-0.4%
Gold	GLD	10.0%	0.1%	0.9%	1.6%	-6.2%
Commodity	DBC	2.5%	-0.7%	3.9%	13.8%	34.6%
Real Estate	VNQ	5.0%	2.1%	0.8%	3.9%	16.2%
Bitcoin	BTCUSD	0.0%	-1.5%	0.3%	5.1%	-26.8%
Cash	GOVT	7.5%	0.1%	-0.7%	-1.5%	-0.9%
Conservative Portfolio		100.0%	0.2%	0.4%	-0.4%	1.2%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	55.0%	0.1%	2.2%	-1.1%	1.6%
Bond	BND	25.0%	0.1%	-0.8%	-1.4%	-0.4%
Gold	GLD	7.0%	0.1%	0.9%	1.6%	-6.2%
Commodity	DBC	4.0%	-0.7%	3.9%	13.8%	34.6%
Real Estate	VNQ	5.0%	2.1%	0.8%	3.9%	16.2%
Bitcoin	BTCUSD	2.0%	-1.5%	0.3%	5.1%	-26.8%
Cash	GOVT	2.0%	0.1%	-0.7%	-1.5%	-0.9%
Moderate Portfolio		100.0%	0.1%	1.3%	-0.0%	2.0%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	80.0%	0.1%	2.2%	-1.1%	1.6%
Bond	BND	5.0%	0.1%	-0.8%	-1.4%	-0.4%
Gold	GLD	3.0%	0.1%	0.9%	1.6%	-6.2%
Commodity	DBC	2.2%	-0.7%	3.9%	13.8%	34.6%
Real Estate	VNQ	4.5%	2.1%	0.8%	3.9%	16.2%
Bitcoin	BTCUSD	5.2%	-1.5%	0.3%	5.1%	-26.8%
Cash	GOVT	0.0%	0.1%	-0.7%	-1.5%	-0.9%
Aggressive Portfolio		100.0%	0.1%	1.9%	-0.2%	1.2%

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	25.0%	0.0%	11.0%	0.46
Bond	BND	50.0%	1.4%	5.2%	-0.24
Gold	GLD	10.0%	11.3%	15.0%	0.61
Commodity	DBC	2.5%	7.2%	17.6%	0.30
Real Estate	VNQ	5.0%	5.2%	17.6%	0.23
Bitcoin	BTCUSD	0.0%	58.1%	76.3%	0.91
Cash	GOVT	7.5%	0.3%	4.9%	-0.45
Conservative Portfolio		100.0%	4.4%	5.8%	0.30

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	55.0%	0.0%	11.0%	0.46
Bond	BND	25.0%	1.4%	5.2%	-0.24
Gold	GLD	7.0%	11.3%	15.0%	0.61
Commodity	DBC	4.0%	7.2%	17.6%	0.30
Real Estate	VNQ	5.0%	5.2%	17.6%	0.23
Bitcoin	BTCUSD	2.0%	58.1%	76.3%	0.91
Cash	GOVT	2.0%	0.3%	4.9%	-0.45
Moderate Portfolio		100.0%	7.6%	7.8%	0.63

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	80.0%	0.0%	11.0%	0.46
Bond	BND	5.0%	1.4%	5.2%	-0.24
Gold	GLD	3.0%	11.3%	15.0%	0.61
Commodity	DBC	2.2%	7.2%	17.6%	0.30
Real Estate	VNQ	4.5%	5.2%	17.6%	0.23
Bitcoin	BTCUSD	5.2%	58.1%	76.3%	0.91
Cash	GOVT	0.0%	0.3%	4.9%	-0.45
Aggressive Portfolio		100.0%	10.9%	10.5%	0.78

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

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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%	2.8	31.5	+9.5%	+21.7%
Top 20		78.96%	77.92%	86.25%	3.1	32.8	+9.9%	+22.9%
PLTR	Palantir Technologies	8.73%	0.53%	2.95%	30.1	69.2	+45.5%	+40.0%
RTX	RTX	8.26%	9.23%	9.68%	2.9	28.6	+7.4%	+9.0%
GE	GE Aerospace	8.12%	3.84%	8.62%	6.9	39.5	+10.6%	+20.6%
BA	Boeing	8.05%	15.44%	4.81%	1.6	64.2	+14.5%	+698.2%
SPCX	Space Exploration Technologies	7.14%	—	—	—	—	—	—
HWM	Howmet Aerospace	4.21%	1.07%	2.75%	11.0	50.7	+13.2%	+14.7%
GD	General Dynamics	4.11%	7.27%	7.43%	1.8	21.8	+4.5%	+8.7%
HEI	Heico	4.08%	1.41%	2.88%	8.6	51.2	+10.2%	+13.2%
LMT	Lockheed Martin	4.07%	8.02%	8.30%	1.6	18.6	+5.4%	+6.9%
LHX	L3Harris Technologies	4.06%	5.58%	5.45%	2.3	23.7	+8.0%	+16.9%
NOC	Northrop Grumman	4.04%	7.73%	10.26%	1.7	18.2	+6.9%	+4.0%
TDG	TransDigm	3.93%	1.78%	4.95%	6.4	27.2	+9.4%	+17.4%
RKLB	Rocket Lab	3.49%	0.21%	—	34.3	—	+39.4%	—
CW	Curtiss-Wright	2.94%	1.32%	2.37%	7.0	45.5	+8.1%	+10.3%
WWD	Woodward	2.64%	1.45%	2.36%	5.4	38.7	+8.9%	+14.0%
ASTS	AST SpaceMobile	2.53%	0.05%	—	31.2	—	+365.3%	—
FTAI	FTAI Aviation	2.40%	1.05%	2.52%	4.6	22.3	+54.1%	+77.0%
TXT	Textron	1.79%	5.60%	4.36%	1.1	13.3	+3.5%	+14.1%
LDOS	Leidos	1.51%	6.35%	6.56%	0.8	8.4	+4.5%	+6.5%
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 7/25	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
MISL	First Trust Indxx Aerospace & Defense ETF	100.00%	43.48	0.0%	-0.6%	1.6%	10.6%	88.1%
PLTR	Palantir Technologies	8.73%	122.92	0.0%	14.6%	-30.8%	-22.6%	648.1%	455.4%
RTX	RTX	8.26%	212.79	0.0%	14.0%	16.9%	37.8%	162.7%	176.4%	324.8%
GE	GE Aerospace	8.12%	353.73	0.0%	-4.6%	15.1%	30.9%	292.7%	457.6%	161.1%
BA	Boeing	8.05%	209.52	0.0%	-3.9%	-3.5%	-10.1%	-10.0%	-7.2%	68.9%
SPCX	Space Exploration Technologies	7.14%	115.07	0.0%	-24.8%
HWM	Howmet Aerospace	4.21%	289.26	0.0%	5.9%	41.2%	53.0%	478.0%	802.8%	1,131.2%
GD	General Dynamics	4.11%	386.75	0.0%	12.7%	16.4%	25.3%	84.2%	123.8%	227.6%
HEI	Heico	4.08%	349.61	0.0%	2.1%	8.1%	8.1%	95.9%	158.9%	892.6%
LMT	Lockheed Martin	4.07%	582.60	0.0%	15.4%	21.9%	42.1%	39.4%	81.1%	198.6%
LHX	L3Harris Technologies	4.06%	300.21	0.0%	4.1%	3.0%	13.3%	57.3%	46.7%	321.1%
NOC	Northrop Grumman	4.04%	542.24	0.0%	8.6%	-4.2%	-3.3%	24.7%	64.1%	192.2%
TDG	TransDigm	3.93%	1,236.71	0.0%	-7.2%	-7.0%	-17.8%	62.2%	128.7%	611.5%
RKLB	Rocket Lab	3.49%	63.91	0.0%	-20.8%	-8.4%	34.7%	795.1%	505.2%
CW	Curtiss-Wright	2.94%	750.19	0.0%	-2.3%	36.2%	55.0%	290.0%	551.9%	805.8%
WWD	Woodward	2.64%	419.00	0.0%	-4.0%	38.8%	63.5%	255.2%	258.6%	664.2%
ASTS	AST SpaceMobile	2.53%	56.20	0.0%	-14.4%	-22.6%	3.4%	1,326.4%	378.7%
FTAI	FTAI Aviation	2.40%	215.98	0.0%	-19.5%	10.1%	85.7%	572.8%	936.6%	3,977.2%
TXT	Textron	1.79%	95.53	0.0%	7.3%	9.6%	20.3%	40.1%	40.9%	146.6%
LDOS	Leidos	1.51%	112.14	0.0%	12.1%	-37.5%	-30.6%	23.9%	12.3%	241.3%
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%	115%
Peers Return	15%	-20%	33%	13%	40%	38%	172%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	97%
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 7/24/2026 (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 7/25/2026

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 7/25/2026

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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
XLG	Invesco S&P 500 Top 50 ETF	-7.1%	59.98	7252026	64.59	6012026	54
MAGS	Roundhill Magnificent Seven ETF	-11.0%	63.15	7252026	70.94	5142026	72
QQQ	Invesco QQQ Trust, Series 1	-8.3%	684.23	7252026	746.16	6022026	53
QQQM	Invesco NASDAQ 100 ETF	-8.3%	281.68	7252026	307.23	6022026	53
ONEQ	Fidelity Nasdaq Composite Index ETF	-7.8%	98.35	7252026	106.70	6022026	53
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-6.7%	151.03	7252026	161.85	6012026	54
SCHM	Schwab U.S. Mid-Cap ETF	-5.1%	34.99	7252026	36.87	6302026	25
SCHA	Schwab U.S. Small-Cap ETF	-6.1%	33.93	7252026	36.13	6302026	25
VUG	Vanguard Growth ETF	-7.4%	83.48	7252026	90.19	6012026	54
IWF	iShares Russell 1000 Growth ETF	-8.6%	117.65	7252026	128.77	6012026	54
IVW	iShares S&P 500 Growth ETF	-6.2%	132.83	7252026	141.59	6012026	54
SCHG	Schwab U.S. Large-Cap Growth ETF	-5.2%	33.46	7252026	35.30	6012026	54
SPYG	State Street SPDR Portfolio S&P 500 Growth ETF	-6.2%	114.96	7252026	122.60	6012026	54
VONG	Vanguard Russell 1000 Growth ETF	-8.5%	121.16	7252026	132.35	6012026	54
MGK	Vanguard Mega Cap Growth ETF	-7.8%	84.81	7252026	91.97	6012026	54
AKRE	Akre Focus ETF	-12.5%	54.67	7252026	62.51	1262026	180
IWP	iShares Russell Mid-Cap Growth ETF	-6.6%	136.73	7252026	146.41	6302026	25
IWO	iShares Russell 2000 Growth ETF	-6.0%	370.23	7252026	393.96	6302026	25
VBK	Vanguard Small-Cap Growth ETF	-6.6%	341.70	7252026	365.70	6302026	25
CORO	iShares International Country Rotation Active ETF	-5.4%	35.31	7252026	37.32	6222026	33
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-7.1%	150.38	7252026	161.79	5112026	75
SCHC	Schwab International Small-Cap Equity ETF	-6.8%	48.04	7252026	51.54	3012026	146
IEMG	iShares Core MSCI Emerging Markets ETF	-10.4%	77.05	7252026	86.00	6222026	33
VWO	Vanguard FTSE Emerging Markets ETF	-5.6%	57.80	7252026	61.24	6222026	33
EEM	iShares MSCI Emerging Markets ETF	-11.1%	63.33	7252026	71.21	6222026	33
SPEM	State Street SPDR Portfolio Emerging Markets ETF	-6.0%	50.16	7252026	53.39	6022026	53
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-7.9%	34.36	7252026	37.30	6222026	33
EWY	iShares MSCI South Korea ETF	-25.7%	162.96	7252026	219.20	6212026	34
EWZ	iShares MSCI Brazil ETF	-14.4%	35.73	7252026	41.73	4142026	102
FXI	iShares China Large-Cap ETF	-15.2%	34.58	7252026	40.78	1292026	177
ILF	iShares Latin America 40 ETF	-9.1%	34.64	7252026	38.10	4142026	102
KWEB	KraneShares CSI China Internet ETF	-27.6%	26.29	7252026	36.29	1292026	177
JEPQ	J.P. Morgan Nasdaq Equity Premium Income ETF	-5.7%	57.96	7252026	61.46	6302026	25
QQQI	NEOS Nasdaq 100 High Income ETF	-6.5%	52.73	7252026	56.38	6022026	53
MTUM	iShares MSCI USA Momentum Factor ETF	-11.2%	306.39	7252026	345.22	6222026	33
SPHQ	Invesco S&P 500 Quality ETF	-5.9%	84.80	7252026	90.10	6302026	25
SPMO	Invesco S&P 500 Momentum ETF	-9.4%	146.51	7252026	161.66	6222026	33
ARKK	ARK Innovation ETF	-14.0%	71.89	7252026	83.61	7062026	19
URA	Global X Uranium ETF	-35.5%	39.89	7252026	61.81	1282026	178
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-18.7%	33.83	7252026	41.63	5132026	73
ROBO	ROBO Global Robotics & Automation Index ETF	-13.8%	77.83	7252026	90.34	6022026	53
LIT	Global X Lithium & Battery Tech ETF	-26.0%	67.81	7252026	91.62	5112026	75
ICLN	iShares Global Clean Energy ETF	-25.1%	17.78	7252026	23.75	6022026	53
ARKQ	ARK Autonomous Technology & Robotics ETF	-20.7%	114.02	7252026	143.82	5282026	58
ARKW	ARK Next Generation Internet ETF	-11.3%	136.74	7252026	154.18	6012026	54
ARKX	ARK Space & Defense Innovation ETF	-19.5%	30.37	7252026	37.74	5282026	58
NASA	Tema Space Innovators ETF	-47.1%	22.14	7252026	41.89	5272026	59
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	-13.1%	18.54	7252026	21.34	7062026	19
AGIX	KraneShares Artificial Intelligence ETF	-15.5%	41.75	7252026	49.40	6012026	54
DRSK	Aptus Defined Risk ETF	-5.1%	28.15	7252026	29.67	6012026	54
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-13.9%	60.62	7252026	70.39	5112026	75
RAAX	VanEck Real Assets ETF	-6.0%	40.12	7252026	42.70	5112026	75
VGT	Vanguard Information Technology ETF	-9.8%	113.30	7252026	125.62	6022026	53
XLK	State Street Technology Select Sector SPDR ETF	-11.3%	175.88	7252026	198.21	6022026	53
XLC	State Street Communication Services Select Sector SPDR ETF	-11.2%	106.30	7252026	119.70	2012026	174
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-11.0%	109.41	7252026	122.88	1252026	181
XLP	State Street Consumer Staples Select Sector SPDR ETF	-6.0%	84.13	7252026	89.51	3012026	146
IYM	iShares U.S. Basic Materials ETF	-5.6%	178.50	7252026	189.08	3022026	145
SMH	VanEck Semiconductor ETF	-16.1%	561.19	7252026	668.91	6222026	33
SOXX	iShares Semiconductor ETF	-19.5%	527.01	7252026	655.01	6222026	33
IBB	iShares Biotechnology ETF	-5.1%	188.14	7252026	198.23	7072026	18
XBI	State Street SPDR S&P Biotech ETF	-8.4%	150.48	7252026	164.28	7092026	16
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	-7.5%	174.05	7252026	188.18	3292026	118
IGV	iShares Expanded Tech-Software Sector ETF	-18.3%	87.98	7252026	107.70	6012026	54
MISL	First Trust Indxx Aerospace & Defense ETF	-14.2%	43.48	7252026	50.66	3022026	145
RING	iShares MSCI Global Gold Miners ETF	-35.1%	64.49	7252026	99.42	3012026	146
SOXQ	Invesco PHLX Semiconductor ETF	-19.2%	93.04	7252026	115.11	6222026	33
BWX	State Street SPDR Bloomberg International Treasury Bond ETF	-6.5%	21.40	7252026	22.90	2162026	159
IGOV	iShares International Treasury Bond ETF	-5.9%	40.44	7252026	42.99	3012026	146
TLT	iShares 20+ Year Treasury Bond ETF	-7.0%	83.25	7252026	89.48	3012026	146
VGLT	Vanguard Long-Term Treasury ETF	-6.0%	53.34	7252026	56.76	3012026	146
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-6.4%	25.36	7252026	27.09	3012026	146
TLH	iShares 10-20 Year Treasury Bond ETF	-5.9%	97.31	7252026	103.45	3012026	146
EDV	Vanguard World Funds Extended Duration ETF	-9.7%	60.88	7252026	67.42	3012026	146
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-5.1%	21.49	7252026	22.65	2192026	156
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	-5.1%	17.95	7252026	18.91	5122026	74
DBC	Invesco DB Commodity Index Tracking Fund	-5.0%	30.10	7252026	31.69	5122026	74
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	-9.3%	33.15	7252026	36.53	5192026	67
GSG	iShares GSCI Commodity	-5.8%	30.01	7252026	31.85	3182026	129
BCI	abrdn Bloomberg All Commodity Strategy K-1 Free ETF	-5.5%	24.49	7252026	25.91	5122026	74
GLD	SPDR Gold Trust	-25.0%	371.90	7252026	495.90	1292026	177
IAU	iShares Gold Trust	-24.9%	76.23	7252026	101.57	1292026	177
GLDM	SPDR Gold MiniShares Trust	-24.9%	80.19	7252026	106.77	1292026	177
SGOL	ETFS Physical Swiss Gold Shares	-13.1%	44.66	7252026	51.41	1292026	177
BAR	Direxion Daily Gold Bull 3X Shares	-16.6%	44.34	7252026	53.16	1292026	177
SLV	iShares Silver Trust	-50.2%	52.59	7252026	105.60	1282026	178
SIVR	ETFS Physical Silver Shares Trust ETF	-24.8%	83.39	7252026	110.87	1282026	178
PPLT	ETFS Physical Platinum Shares	-42.8%	14.43	7252026	25.23	1252026	181
CPER	United States Copper Index Fund ETV	-13.9%	33.33	7252026	38.71	1292026	177
PALL	ETFS Physical Palladium Shares	-39.3%	22.56	7252026	37.18	1282026	178
USO	United States Oil Fund LP	-10.6%	136.69	7252026	152.96	5192026	67
UNG	United States Natural Gas Fund LP	-37.6%	10.55	7252026	16.90	2012026	174
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	7252026	60.13	5042026	82
IBIT	iShares Bitcoin Trust ETF	-28.3%	36.35	7252026	50.70	1252026	181
FBTC	Fidelity Wise Origin Bitcoin Fund	-28.3%	55.83	7252026	77.92	1252026	181
GBTC	Grayscale Bitcoin Trust ETF	-11.4%	61.84	7252026	69.82	1252026	181
ETHA	iShares Ethereum Trust ETF	-38.5%	14.04	7252026	22.83	1272026	179

ETF Fund Flows

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

Net fund flows · as of 2026-07-24

Asset allocation rotation · Past week

Commodity ETFs drew the largest net inflows (+$2.2B), followed by Bond (+$1.6B), while Equity (−$2.3B) and Crypto (−$60M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$2.9B) and out of Industry Subsector (−$7.3B).
Relative to fund size, DFAL drew the largest inflow (+27.7% of AUM) and FTCS the largest outflow (−18.4%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$4.97B	+0.6%
2	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$1.66B	+0.2%
3	GLD	SPDR Gold Shares	Commodity Gold	+$1.33B	+1.0%
4	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$1.32B	+0.8%
5	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$1.15B	+0.2%
6	DRAM	Roundhill Memory ETF	Other	+$1.09B	+4.4%
7	RSP	Invesco S&P 500 Equal Weight ETF	Equity Factor Smart Beta	+$1.04B	+1.1%
8	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	+$1.01B	+4.3%
9	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$931M	+2.2%
10	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$814M	+0.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	DFAL		Other	+$387M	+27.7%
2	ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	Equity Emerging Markets	+$213M	+13.6%
3	PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	Commodity Broad Diversified	+$698M	+10.8%
4	IHE	iShares U.S. Pharmaceuticals ETF	Other	+$141M	+9.7%
5	IYH	iShares U.S. Healthcare ETF	Other	+$305M	+9.2%
6	HELO	JPMorgan Hedged Equity Laddered Overlay ETF	Other	+$383M	+8.4%
7	EWI	iShares MSCI Italy ETF	Other	+$68M	+6.8%
8	HFSI	Hartford Strategic Income ETF	Other	+$63M	+6.1%
9	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$75M	+6.0%
10	BUG	Global X - Cybersecurity ETF	Other	+$66M	+5.2%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$5.02B	-0.6%
2	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$3.07B	-6.7%
3	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$2.84B	-4.1%
4	AIRR	First Trust RBA American Industrial RenaissanceTM ETF	Other	-$1.89B	-17.7%
5	FTCS	First Trust Capital Strength ETF	Other	-$1.42B	-18.4%
6	VO	Vanguard Mid-Cap ETF	Equity US Mid Cap Core	-$1.18B	-1.1%
7	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$1.12B	-0.9%
8	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$1.08B	-1.3%
9	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$885M	-1.1%
10	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$752M	-6.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTCS	First Trust Capital Strength ETF	Other	-$1.42B	-18.4%
2	AIRR	First Trust RBA American Industrial RenaissanceTM ETF	Other	-$1.89B	-17.7%
3	FBT	First Trust NYSE Arca Biotechnology Index Fund	Other	-$423M	-15.1%
4	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	-$509M	-11.4%
5	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$220M	-8.3%
6	RING	iShares MSCI Global Gold Miners ETF	Equity Industry Subsector	-$176M	-8.0%
7	FLTW	Franklin FTSE Taiwan ETF	Other	-$210M	-7.4%
8	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$3.07B	-6.7%
9	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$752M	-6.2%
10	IXN	iShares Global Tech ETF	Other	-$498M	-5.8%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$27.2B), followed by Bond (+$25.0B), while Crypto (−$1.6B) and Commodity (−$10M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$17.7B) and out of US Large Growth (−$9.7B).
Relative to fund size, DFAL drew the largest inflow (+41.4% of AUM) and NASA the largest outflow (−25.3%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$8.58B	+5.4%
2	DRAM	Roundhill Memory ETF	Other	+$7.59B	+31.2%
3	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$7.08B	+0.9%
4	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$5.99B	+13.1%
5	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$4.83B	+0.7%
6	RSP	Invesco S&P 500 Equal Weight ETF	Equity Factor Smart Beta	+$4.24B	+4.4%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$3.99B	+9.4%
8	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$3.77B	+3.9%
9	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	+$3.63B	+16.0%
10	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	+$3.52B	+13.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	DFAL		Other	+$476M	+41.4%
2	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$427M	+39.3%
3	FXL	First Trust Technology AlphaDEX Fund	Other	+$948M	+37.1%
4	IHE	iShares U.S. Pharmaceuticals ETF	Other	+$473M	+33.5%
5	DRAM	Roundhill Memory ETF	Other	+$7.59B	+31.2%
6	DFGP	Dimensional - Global Core Plus Fixed Income ETF	Other	+$775M	+25.3%
7	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	+$1.04B	+22.3%
8	PJUL	Innovator U.S. Equity Power Buffer ETF	Other	+$228M	+20.4%
9	IXC	iShares Global Energy ETF	Other	+$488M	+20.0%
10	CBOX		Other	+$196M	+16.9%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$9.82B	-2.1%
2	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$9.2B	-11.3%
3	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$8.02B	-6.4%
4	IWR	iShares Russell Mid-Cap ETF	Equity US Mid Cap Core	-$4.58B	-8.1%
5	IYW	iShares U.S. Technology ETF	Other	-$2.59B	-10.5%
6	IQMM	ProShares - GENIUS Money Market ETF	Other	-$2.58B	-12.7%
7	IWS	iShares Russell Mid-Cap Value ETF	Equity US Mid Cap Value	-$1.96B	-12.6%
8	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$1.92B	-2.3%
9	IWN	iShares Russell 2000 Value ETF	Equity US Small Value	-$1.5B	-10.4%
10	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$1.35B	-10.0%

#	Ticker	Name	Type	Net flow	% of AUM
1	NASA	Tema Space Innovators ETF	Equity Thematic	-$335M	-25.3%
2	QLTA	iShares Aaa - A Rated Corporate Bond ETF	Other	-$291M	-22.4%
3	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$278M	-19.1%
4	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$815M	-18.7%
5	DMXF	iShares ESG Advanced MSCI EAFE ETF	Other	-$209M	-17.4%
6	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$1.32B	-13.5%
7	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$162M	-13.5%
8	IQMM	ProShares - GENIUS Money Market ETF	Other	-$2.58B	-12.7%
9	IWS	iShares Russell Mid-Cap Value ETF	Equity US Mid Cap Value	-$1.96B	-12.6%
10	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$9.2B	-11.3%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$189.4B), followed by Bond (+$68.9B), while Crypto (−$8.0B) and Commodity (−$6.1B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$85.1B) and out of Gold (−$7.5B).
Relative to fund size, DRAM drew the largest inflow (+148.2% of AUM) and FXN the largest outflow (−60.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$50.4B	+6.0%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$30.78B	+4.0%
3	DRAM	Roundhill Memory ETF	Other	+$24.57B	+148.2%
4	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$19.44B	+13.1%
5	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$15.02B	+15.9%
6	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$13.51B	+2.1%
7	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$12.4B	+12.7%
8	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$10.01B	+24.3%
9	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$9.66B	+6.2%
10	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$8.53B	+5.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	DRAM	Roundhill Memory ETF	Other	+$24.57B	+148.2%
2	NASA	Tema Space Innovators ETF	Equity Thematic	+$1.74B	+130.9%
3	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$2.24B	+102.9% ⚠
4	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$1.58B	+59.8% ⚠
5	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.19B	+56.9%
6	FXL	First Trust Technology AlphaDEX Fund	Other	+$960M	+56.6%
7	FLKR	Franklin FTSE South Korea ETF	Other	+$599M	+54.8%
8	IALT	iShares Systematic Alternatives Active ETF	Equity Asset Allocation	+$2.33B	+52.3% ⚠
9	CHPY	YieldMax Semiconductor Portfolio Option Income ETF	Other	+$515M	+48.4%
10	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	+$929M	+46.6%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$16.59B	-1.7%
2	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$6.45B	-14.0%
3	GLD	SPDR Gold Shares	Commodity Gold	-$5.5B	-3.9%
4	IBIT	iShares Bitcoin Trust ETF	Crypto	-$5.1B	-10.3%
5	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.9B	-39.1%
6	IQMM	ProShares - GENIUS Money Market ETF	Other	-$4.68B	-22.0%
7	IAU	iShares Gold Trust	Commodity Gold	-$2.59B	-3.9%
8	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$2.39B	-1.9% ⚠
9	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$2.26B	-8.2%
10	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.18B	-33.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	FXN	First Trust Energy AlphaDEX Fund	Equity Broad Sector	-$721M	-60.8%
2	EEMA	iShares MSCI Emerging Markets Asia ETF	Other	-$509M	-39.3%
3	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.9B	-39.1%
4	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.18B	-33.5%
5	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$411M	-29.0%
6	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$1.58B	-28.9%
7	AKRE	Akre Focus ETF	Equity US Large Growth	-$1.46B	-25.5%
8	ILF	iShares Latin America 40 ETF	Equity Emerging Markets	-$947M	-23.8%
9	IQMM	ProShares - GENIUS Money Market ETF	Other	-$4.68B	-22.0%
10	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$300M	-20.4%

Largest ETF fund flows across ~2572 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	Category	1D Rtn	YTD Rtn
AKRE	Akre Focus ETF	Equity	2.3%	-16.5%
XLRE	State Street Real Estate Select Secto...	Real Estate	2.2%	14.6%
IYR	iShares U.S. Real Estate ETF	Real Estate	2.2%	14.3%
USRT	iShares Core U.S. REIT ETF	Real Estate	2.2%	23.0%
VNQ	Vanguard Real Estate ETF	Real Estate	2.1%	16.2%
SCHH	Schwab U.S. REIT ETF	Real Estate	2.1%	19.6%
XLB	State Street Materials Select Sector ...	Equity	1.9%	13.5%
COWZ	Pacer US Cash Cows 100 ETF	Equity	1.9%	8.2%
REET	iShares Global REIT ETF	Real Estate	1.8%	16.4%
SCHD	Schwab US Dividend Equity ETF	Equity	1.5%	22.4%

Top Losers

Ticker	Company	Category	1D Rtn	YTD Rtn
EWY	iShares MSCI South Korea ETF	Equity	-6.3%	67.6%
NASA	Tema Space Innovators ETF	Equity	-4.7%	-12.1%
SOXX	iShares Semiconductor ETF	Equity	-4.4%	75.1%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-4.2%	67.0%
SMH	VanEck Semiconductor ETF	Equity	-3.3%	55.8%
ICLN	iShares Global Clean Energy ETF	Equity	-3.2%	8.2%
URA	Global X Uranium ETF	Equity	-3.0%	-6.6%
ARKK	ARK Innovation ETF	Equity	-2.6%	-6.5%
ARKQ	ARK Autonomous Technology & Robotics ETF	Equity	-2.4%	-0.6%
MTUM	iShares MSCI USA Momentum Factor ETF	Equity	-2.4%	22.5%

Top Gainers

Ticker	Company	Category	1W Rtn	YTD Rtn
USO	United States Oil Fund LP	Commodity	10.3%	97.6%
RING	iShares MSCI Global Gold Miners ETF	Equity	5.9%	-12.4%
ITA	iShares U.S. Aerospace & Defense ETF	Equity	4.1%	11.9%
PDBC	Invesco Optimum Yield Diversified Com...	Commodity	4.1%	35.5%
DBC	Invesco DB Commodity Index Tracking Fund	Commodity	3.9%	34.6%
SLV	iShares Silver Trust	Commodity	3.6%	-18.4%
XLE	State Street Energy Select Sector SPD...	Equity	3.4%	34.2%
FXN	First Trust Energy AlphaDEX Fund	Equity	3.2%	34.3%
URA	Global X Uranium ETF	Equity	3.0%	-6.6%
BCI	abrdn Bloomberg All Commodity Strateg...	Commodity	2.9%	25.4%

Top Losers

Ticker	Company	Category	1W Rtn	YTD Rtn
MAGS	Roundhill Magnificent Seven ETF	Equity	-5.6%	-4.3%
XLY	State Street Consumer Discretionary S...	Equity	-5.2%	-8.2%
IGV	iShares Expanded Tech-Software Sector...	Equity	-5.2%	-16.8%
ARKK	ARK Innovation ETF	Equity	-4.4%	-6.5%
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	-3.9%	-7.9%
XLC	State Street Communication Services S...	Equity	-3.9%	-9.4%
NASA	Tema Space Innovators ETF	Equity	-3.7%	-12.1%
ARKW	ARK Next Generation Internet ETF	Equity	-3.5%	-7.4%
ICLN	iShares Global Clean Energy ETF	Equity	-3.2%	8.2%
AKRE	Akre Focus ETF	Equity	-2.7%	-16.5%

Top Gainers

Ticker	Company	Category	1M Rtn	YTD Rtn
USO	United States Oil Fund LP	Commodity	28.6%	97.6%
ETHA	iShares Ethereum Trust ETF	Cryptocurrency	17.8%	-37.4%
DBC	Invesco DB Commodity Index Tracking Fund	Commodity	13.8%	34.6%
PDBC	Invesco Optimum Yield Diversified Com...	Commodity	13.8%	35.5%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	13.7%	38.4%
HGER	Harbor Commodity All-Weather Strategy...	Commodity	13.0%	30.9%
XLE	State Street Energy Select Sector SPD...	Equity	11.3%	34.2%
BCI	abrdn Bloomberg All Commodity Strateg...	Commodity	11.0%	25.4%
COMT	iShares GSCI Commodity Dynamic Roll S...	Commodity	10.1%	33.1%
FTGC	First Trust Global Tactical Commodity...	Commodity	9.9%	28.5%

Top Losers

Ticker	Company	Category	1M Rtn	YTD Rtn
NASA	Tema Space Innovators ETF	Equity	-19.0%	-12.1%
EWY	iShares MSCI South Korea ETF	Equity	-17.4%	67.6%
LIT	Global X Lithium & Battery Tech ETF	Equity	-14.1%	4.5%
ICLN	iShares Global Clean Energy ETF	Equity	-13.2%	8.2%
SOXX	iShares Semiconductor ETF	Equity	-12.4%	75.1%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-12.1%	67.0%
URA	Global X Uranium ETF	Equity	-10.8%	-6.6%
UNG	United States Natural Gas Fund LP	Commodity	-10.1%	-13.9%
SMH	VanEck Semiconductor ETF	Equity	-9.3%	55.8%
ARKQ	ARK Autonomous Technology & Robotics ETF	Equity	-8.2%	-0.6%

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	3.0%	0.9%	1.1%	-0.8%	-1.0%	4.1%	1.0%
Distribution Yield	0.4%	0.2%	0.3%	0.2%	0.4%	0.0%	0.2%
Sales Yield	29.7%	7.3%	7.2%	12.9%	8.8%	29.0%	10.9%
Earnings Yield	2.3%	2.2%	1.8%	2.5%	1.1%	2.5%	2.2%

Valuation

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
P/S (TTM)	3.4x	13.7x	13.9x	7.8x	11.3x	3.5x	9.5x
P/E (TTM)	42.8x	46.3x	56.8x	40.6x	90.6x	40.1x	44.5x
P/FCF (TTM)	49.8x	48.9x	57.8x	355.0x	-	42.6x	49.8x
Forward P/E	33.9x	-	-	-	62.1x	32.7x	33.9x
Forward P/S	3.0x	-	-	-	8.9x	3.1x	3.1x

Risk

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
Volatility (1Y)	24.1%	37.4%	43.0%	20.3%	26.7%	22.1%	25.4%
Volatility (3Y)	20.2%	36.4%	38.7%	20.3%	27.5%	19.8%	23.9%
Volatility (5Y)	19.6%	36.2%	37.9%	22.1%	32.3%	20.3%	27.2%
Beta (1Y)	1.10	2.30	2.49	0.78	1.03	0.98	1.06
Beta (3Y)	0.84	1.96	2.04	0.81	1.03	0.84	0.93
Beta (5Y)	0.80	1.74	1.80	0.86	1.16	0.81	1.01
Sharpe Ratio (1Y)	0.52	1.99	2.04	1.73	2.15	1.03	1.86
Sharpe Ratio (3Y)	1.16	1.35	1.16	0.71	0.82	1.36	1.16
Sharpe Ratio (5Y)	1.15	1.03	0.90	0.26	0.27	0.95	0.93
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	-1.1%	-9.3%	-12.4%	3.6%	0.5%	1.7%	-0.3%
3M Return	-2.5%	16.5%	19.5%	9.7%	11.9%	9.6%	10.8%
6M Return	-13.2%	39.3%	51.2%	6.0%	14.4%	1.9%	10.2%
YTD Return	1.6%	55.8%	75.1%	11.6%	23.4%	11.9%	17.7%
1Y Return	10.2%	96.4%	118.6%	39.3%	71.2%	22.5%	55.2%
2Y Return	54.1%	127.9%	125.5%	31.3%	54.9%	81.4%	68.2%
3Y Return	90.6%	258.7%	207.0%	45.5%	76.4%	112.2%	101.4%

Short Interest

Short Interest: As Of Date	7152026
Short Interest: Shares Quantity	0.0 Mil
Short Interest: % Change Since 6302026	422.4%
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

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First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/26/2026): $43.42

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (7/26/2026): $43.42

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

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Trade & Investment Ideas

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