First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (9/29/2026): $41.78

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (9/29/2026): $41.78

Key Takeaways

MISL has returned -2.1% YTD vs +12.9% for SPY; +3.0% over the past 12 months (SPY +16.6%). details →
Priced in gold, MISL has returned -12.3% over the past 3 years, vs +95.4% in dollars — its dollar gains have lagged gold. details →
MISL has seen negligible net fund flows over the past month (−0.6% of assets). details →
MISL's portfolio trades at 30.8x forward earnings — a 312% premium to SPY (7.5x). details →
MISL's top 10 holdings represent 63% of the fund vs 37% for SPY — a more concentrated portfolio. details →

Last updated: 9/28/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with MISL

Risk Tolerance:

ConservativeModerateAggressive

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

10Y Return (ann.)

+7.5%

Volatility

8.0%

Sharpe

0.60

YTD

-0.2%

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%	-1.7%	-2.5%	-6.8%	-2.1%
Bond	BND	50.0%	-0.5%	-1.6%	-2.8%	-2.5%
Gold	GLD	10.0%	-3.9%	-5.1%	-10.6%	-4.6%
Commodity	DBC	2.5%	-0.4%	-0.3%	5.3%	45.3%
Real Estate	VNQ	5.0%	-0.4%	-2.6%	-6.4%	5.3%
Bitcoin	BTCUSD	0.0%	0.5%	-2.5%	5.2%	-3.5%
Cash	GOVT	7.5%	-0.3%	-1.2%	-2.8%	-2.8%
Conservative Portfolio		100.0%	-1.1%	-2.1%	-4.5%	-1.1%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	55.0%	-1.7%	-2.5%	-6.8%	-2.1%
Bond	BND	25.0%	-0.5%	-1.6%	-2.8%	-2.5%
Gold	GLD	7.0%	-3.9%	-5.1%	-10.6%	-4.6%
Commodity	DBC	4.0%	-0.4%	-0.3%	5.3%	45.3%
Real Estate	VNQ	5.0%	-0.4%	-2.6%	-6.4%	5.3%
Bitcoin	BTCUSD	2.0%	0.5%	-2.5%	5.2%	-3.5%
Cash	GOVT	2.0%	-0.3%	-1.2%	-2.8%	-2.8%
Moderate Portfolio		100.0%	-1.4%	-2.3%	-5.2%	-0.2%

	ETF	%	1D	1W	1M	YTD
Equity	MISL	80.0%	-1.7%	-2.5%	-6.8%	-2.1%
Bond	BND	5.0%	-0.5%	-1.6%	-2.8%	-2.5%
Gold	GLD	3.0%	-3.9%	-5.1%	-10.6%	-4.6%
Commodity	DBC	2.2%	-0.4%	-0.3%	5.3%	45.3%
Real Estate	VNQ	4.5%	-0.4%	-2.6%	-6.4%	5.3%
Bitcoin	BTCUSD	5.2%	0.5%	-2.5%	5.2%	-3.5%
Cash	GOVT	0.0%	-0.3%	-1.2%	-2.8%	-2.8%
Aggressive Portfolio		100.0%	-1.5%	-2.5%	-5.8%	-0.9%

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	25.0%	0.0%	11.2%	0.42
Bond	BND	50.0%	1.2%	5.2%	-0.27
Gold	GLD	10.0%	11.7%	15.5%	0.61
Commodity	DBC	2.5%	8.4%	17.4%	0.41
Real Estate	VNQ	5.0%	4.7%	17.6%	0.20
Bitcoin	BTCUSD	0.0%	63.8%	76.3%	0.96
Cash	GOVT	7.5%	0.2%	5.0%	-0.48
Conservative Portfolio		100.0%	4.3%	6.0%	0.26

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	55.0%	0.0%	11.2%	0.42
Bond	BND	25.0%	1.2%	5.2%	-0.27
Gold	GLD	7.0%	11.7%	15.5%	0.61
Commodity	DBC	4.0%	8.4%	17.4%	0.41
Real Estate	VNQ	5.0%	4.7%	17.6%	0.20
Bitcoin	BTCUSD	2.0%	63.8%	76.3%	0.96
Cash	GOVT	2.0%	0.2%	5.0%	-0.48
Moderate Portfolio		100.0%	7.5%	8.0%	0.60

	ETF	%	Return	Volatility	Sharpe
Equity	MISL	80.0%	0.0%	11.2%	0.42
Bond	BND	5.0%	1.2%	5.2%	-0.27
Gold	GLD	3.0%	11.7%	15.5%	0.61
Commodity	DBC	2.2%	8.4%	17.4%	0.41
Real Estate	VNQ	4.5%	4.7%	17.6%	0.20
Bitcoin	BTCUSD	5.2%	63.8%	76.3%	0.96
Cash	GOVT	0.0%	0.2%	5.0%	-0.48
Aggressive Portfolio		100.0%	10.9%	10.7%	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

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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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[2] Tax-Efficient Strategies

Top 20 Holdings for MISL

Total Weights
Top 5: 43.9% | Top 10: 63.2% | Top 20: 87.9%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		98.78%	100.00%	100.00%	2.7	30.8	+11.5%	+15.4%
Top 20		87.86%	80.57%	87.19%	3.0	32.1	+12.3%	+15.4%
PLTR	Palantir Technologies	12.15%	0.52%	3.19%	40.0	100.3	+49.7%	+40.0%
SPCX	Space Exploration Technologies	8.87%	0.67%	—	9.5	195.2	+142.3%	+111.3%
RTX	RTX	8.12%	9.31%	9.71%	2.5	24.1	+7.4%	+8.7%
BA	Boeing	7.41%	14.85%	4.85%	1.3	69.4	+14.9%	—
GE	GE Aerospace	7.40%	3.52%	7.86%	6.1	35.3	+10.9%	+14.6%
LMT	Lockheed Martin	4.16%	8.34%	8.59%	1.4	16.1	+5.9%	+7.0%
NOC	Northrop Grumman	3.93%	7.30%	9.64%	1.6	16.8	+6.9%	+4.2%
GD	General Dynamics	3.81%	7.20%	7.43%	1.6	18.2	+4.9%	+9.3%
RKLB	Rocket Lab	3.70%	0.19%	—	35.3	—	+45.4%	—
HEI	Heico	3.65%	1.38%	2.85%	7.1	42.1	+11.2%	+14.0%
TDG	TransDigm	3.59%	1.75%	4.70%	5.5	22.8	+10.1%	+17.4%
HWM	Howmet Aerospace	3.46%	1.08%	2.78%	8.2	36.8	+13.8%	+20.9%
LHX	L3Harris Technologies	3.44%	5.53%	5.66%	1.8	18.0	+7.0%	+14.6%
ASTS	AST SpaceMobile	2.77%	0.05%	—	31.7	—	+345.0%	—
CW	Curtiss-Wright	2.28%	1.32%	2.46%	4.9	31.7	+8.3%	+9.9%
FTAI	FTAI Aviation	2.18%	1.23%	2.47%	2.9	16.1	+66.7%	+101.8%
WWD	Woodward	2.18%	1.46%	2.43%	4.1	29.7	+8.9%	+12.1%
LDOS	Leidos	1.74%	6.18%	6.08%	0.8	9.8	+4.7%	+0.5%
CACI	CACI International	1.52%	3.31%	2.34%	1.2	17.7	+6.8%	+13.6%
TXT	Textron	1.52%	5.38%	4.15%	0.8	10.6	+3.7%	+12.4%

[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 9/30/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 9/30/27.
[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 9/28	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
MISL	First Trust Indxx Aerospace & Defense ETF	100.00%	41.90	-1.7%	-6.1%	-2.1%	3.0%	95.4%
PLTR	Palantir Technologies	12.15%	187.48	-1.2%	0.6%	5.5%	5.6%	1,071.8%	664.6%
SPCX	Space Exploration Technologies	8.87%	145.47	-2.2%	2.8%
RTX	RTX	8.12%	187.66	-0.9%	-11.4%	3.4%	16.6%	176.8%	140.2%	296.0%
BA	Boeing	7.41%	184.39	-6.9%	-12.1%	-15.1%	-16.7%	-3.8%	-18.2%	52.1%
GE	GE Aerospace	7.40%	318.24	-2.7%	-7.1%	3.6%	8.4%	266.4%	387.5%	146.2%
LMT	Lockheed Martin	4.16%	518.10	-0.3%	-7.5%	9.1%	9.0%	37.2%	69.1%	181.4%
NOC	Northrop Grumman	3.93%	505.80	-0.9%	-6.9%	-10.2%	-13.5%	20.8%	51.1%	177.6%
GD	General Dynamics	3.81%	334.16	-0.8%	-11.9%	0.6%	2.9%	60.5%	87.1%	167.5%
RKLB	Rocket Lab	3.70%	72.19	-2.4%	12.1%	3.5%	56.1%	1,548.2%	392.4%
HEI	Heico	3.65%	304.61	-1.3%	-9.5%	-5.8%	-4.8%	88.6%	128.7%	771.1%
TDG	TransDigm	3.59%	1,109.22	-0.6%	-6.5%	-16.6%	-14.4%	53.9%	110.3%	513.9%
HWM	Howmet Aerospace	3.46%	228.32	-1.8%	-13.8%	11.5%	18.5%	397.7%	625.9%	926.8%
LHX	L3Harris Technologies	3.44%	237.70	0.0%	-9.1%	-18.0%	-17.7%	44.6%	17.7%	212.8%
ASTS	AST SpaceMobile	2.77%	61.00	-1.3%	5.1%	-16.0%	24.3%	1,505.3%	451.5%
CW	Curtiss-Wright	2.28%	532.36	-1.4%	-10.7%	-3.3%	1.3%	174.0%	322.7%	512.0%
FTAI	FTAI Aviation	2.18%	167.10	-4.5%	-14.3%	-14.6%	2.1%	387.5%	836.5%	2,706.1%
WWD	Woodward	2.18%	325.94	-1.3%	-4.6%	8.1%	31.3%	166.4%	196.3%	456.2%
LDOS	Leidos	1.74%	122.35	-1.0%	-12.7%	-31.5%	-33.1%	37.3%	33.2%	229.9%
CACI	CACI International	1.52%	616.40	-0.3%	-1.9%	15.7%	26.9%	96.3%	132.6%	510.9%
TXT	Textron	1.52%	77.37	1.0%	-6.8%	-11.2%	-7.2%	-0.7%	8.6%	97.2%

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%	-0%	111%
Peers Return	15%	-20%	33%	13%	40%	42%	179%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	106%
Monthly Win Rates [3]
MISL Win Rate	-	100%	58%	58%	83%	44%
Peers Win Rate	58%	45%	62%	58%	67%	69%
S&P 500 Win Rate	75%	42%	67%	75%	67%	56%
Max Drawdowns [4]
MISL Max Drawdown	-	-	-10%	-10%	-16%	-17%
Peers Max Drawdown	-20%	-37%	-19%	-18%	-26%	-18%
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 9/28/2026 (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	0.44	0.95	0.92
Equity Top Results (3Y)
IALT	2.08	2.08	2.08
VLUE	2.53	1.42	0.74
SPMO	0.94	1.37	0.79
CORO	1.35	1.33	1.33
CGDV	1.28	1.31	0.94

Results as of 8312026.

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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 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%			-6%	3
4/15/2026	-7%	1%			-12%	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 9/28/2026

MISL had 3 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
7/10/2026	-12%	11%			-6%	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 9/28/2026

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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
DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	-5.2%	514.02	9282026	542.36	8052026	54
IJH	iShares Core S&P Mid-Cap ETF	-7.9%	72.44	9282026	78.67	8162026	43
VO	Vanguard Mid-Cap ETF	-6.1%	79.00	9282026	84.15	8162026	43
IWR	iShares Russell Mid-Cap ETF	-6.5%	107.41	9282026	114.82	8162026	43
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-7.8%	661.08	9282026	716.91	8162026	43
SCHM	Schwab U.S. Mid-Cap ETF	-7.1%	34.26	9282026	36.87	6302026	90
IVOO	Vanguard S&P Mid-Cap 400 ETF	-7.6%	122.63	9282026	132.68	8162026	43
IJR	iShares Core S&P Small-Cap ETF	-8.7%	137.37	9282026	150.44	8162026	43
VB	Vanguard Small-Cap ETF	-7.1%	286.54	9282026	308.38	8162026	43
IWM	iShares Russell 2000 ETF	-8.2%	280.02	9282026	305.09	8162026	43
SCHA	Schwab U.S. Small-Cap ETF	-9.1%	32.86	9282026	36.13	6302026	90
VTWO	Vanguard Russell 2000 ETF	-8.0%	113.11	9282026	122.90	8162026	43
DFAS	Dimensional U.S. Small Cap ETF	-7.6%	78.04	9282026	84.48	8162026	43
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	-7.4%	52.43	9282026	56.64	8162026	43
NUSC	Nuveen ESG Small-Cap ETF	-8.3%	48.83	9282026	53.27	8162026	43
AKRE	Akre Focus ETF	-12.8%	53.94	9282026	61.85	8302026	29
IWP	iShares Russell Mid-Cap Growth ETF	-6.7%	137.79	9282026	147.70	8172026	42
VOT	Vanguard Mid-Cap Growth ETF	-6.5%	293.35	9282026	313.61	8162026	43
IJK	iShares S&P Mid-Cap 400 Growth ETF	-7.8%	109.76	9282026	119.11	8172026	42
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-7.9%	104.65	9282026	113.69	8172026	42
IWO	iShares Russell 2000 Growth ETF	-9.4%	358.49	9282026	395.65	8162026	43
VBK	Vanguard Small-Cap Growth ETF	-7.6%	338.04	9282026	365.91	8172026	42
IJT	iShares S&P Small-Cap 600 Growth ETF	-9.7%	161.78	9282026	179.07	8042026	55
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-9.5%	108.11	9282026	119.50	8042026	55
SCHV	Schwab U.S. Large-Cap Value ETF	-5.1%	33.55	9282026	35.37	8162026	43
VOE	Vanguard Mid-Cap Value ETF	-5.9%	197.54	9282026	209.92	8162026	43
IWS	iShares Russell Mid-Cap Value ETF	-6.5%	162.20	9282026	173.44	8162026	43
IJJ	iShares S&P Mid-Cap 400 Value ETF	-8.0%	139.52	9282026	151.67	8162026	43
MDYV	State Street SPDR S&P 400 Mid Cap Value ETF	-8.0%	89.60	9282026	97.39	8162026	43
VBR	Vanguard Small-Cap Value ETF	-6.7%	233.81	9282026	250.56	8162026	43
AVUV	Avantis U.S. Small Cap Value ETF	-7.1%	119.55	9282026	128.74	8042026	55
IWN	iShares Russell 2000 Value ETF	-6.9%	211.80	9282026	227.43	8162026	43
IJS	iShares S&P Small-Cap 600 Value ETF	-8.0%	129.47	9282026	140.68	8162026	43
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	-8.1%	103.09	9282026	112.22	8162026	43
VIOV	Vanguard S&P Small-Cap 600 Value ETF	-7.5%	111.23	9282026	120.28	8162026	43
IEMG	iShares Core MSCI Emerging Markets ETF	-5.1%	81.62	9282026	86.00	6222026	98
EEM	iShares MSCI Emerging Markets ETF	-5.6%	67.20	9282026	71.21	6222026	98
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-12.8%	32.51	9282026	37.30	6222026	98
EWY	iShares MSCI South Korea ETF	-16.2%	183.58	9282026	219.20	6212026	99
EWZ	iShares MSCI Brazil ETF	-13.2%	36.21	9282026	41.73	4142026	167
FXI	iShares China Large-Cap ETF	-10.7%	34.17	9282026	38.26	5132026	138
ILF	iShares Latin America 40 ETF	-10.3%	34.18	9282026	38.10	4142026	167
KWEB	KraneShares CSI China Internet ETF	-19.4%	24.66	9282026	30.59	5132026	138
SCHD	Schwab US Dividend Equity ETF	-6.2%	33.01	9282026	35.21	8242026	35
VYM	Vanguard High Dividend Yield ETF	-5.6%	156.75	9282026	166.11	8132026	46
DVY	iShares Select Dividend ETF	-7.2%	153.65	9282026	165.50	8162026	43
SDY	State Street SPDR S&P Dividend ETF	-7.0%	148.01	9282026	159.18	8242026	35
NOBL	ProShares S&P 500 Dividend Aristocrats ETF	-7.1%	54.85	9282026	59.07	8242026	35
SCHY	Schwab International Dividend Equity ETF	-5.4%	31.95	9282026	33.78	8252026	34
RSP	Invesco S&P 500 Equal Weight ETF	-5.8%	209.74	9282026	222.77	8162026	43
COWZ	Pacer US Cash Cows 100 ETF	-7.3%	67.11	9282026	72.40	8302026	29
MTUM	iShares MSCI USA Momentum Factor ETF	-8.6%	315.59	9282026	345.22	6222026	98
SPHQ	Invesco S&P 500 Quality ETF	-6.3%	84.40	9282026	90.10	6302026	90
FNDA	Schwab Fundamental U.S. Small Company ETF	-8.4%	35.27	9282026	38.52	8162026	43
SPMO	Invesco S&P 500 Momentum ETF	-6.5%	151.18	9282026	161.66	6222026	98
URA	Global X Uranium ETF	-31.1%	40.13	9282026	58.26	5062026	145
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-15.6%	35.13	9282026	41.63	5132026	138
ROBO	ROBO Global Robotics & Automation Index ETF	-11.0%	80.38	9282026	90.34	6022026	118
LIT	Global X Lithium & Battery Tech ETF	-25.5%	68.28	9282026	91.62	5112026	140
ICLN	iShares Global Clean Energy ETF	-29.2%	16.81	9282026	23.75	6022026	118
ARKQ	ARK Autonomous Technology & Robotics ETF	-15.3%	121.87	9282026	143.82	5282026	123
ARKX	ARK Space & Defense Innovation ETF	-15.0%	32.07	9282026	37.74	5282026	123
NASA	Tema Space Innovators ETF	-42.2%	24.23	9282026	41.89	5272026	124
DRSK	Aptus Defined Risk ETF	-7.5%	27.44	9282026	29.67	6012026	119
ALLW	SSGA Active Trust State Street Bridgewater All Weather ETF	-5.8%	28.66	9282026	30.44	8252026	34
PCEF	Invesco CEF Income Composite ETF	-5.6%	19.32	9282026	20.47	8132026	46
YYY	Amplify CEF High Income ETF	-9.3%	10.48	9282026	11.56	7122026	78
HNDL	Strategy Shares Nasdaq 7HANDL Index ETF	-5.1%	21.62	9282026	22.79	8162026	43
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-11.1%	63.39	9282026	71.30	8252026	34
RAAX	VanEck Real Assets ETF	-6.5%	39.92	9282026	42.70	5112026	140
XLF	State Street Financial Select Sector SPDR ETF	-7.5%	54.19	9282026	58.56	9032026	25
XLE	State Street Energy Select Sector SPDR ETF	-5.8%	62.10	9282026	65.93	9152026	13
XLI	State Street Industrial Select Sector SPDR ETF	-9.5%	168.78	9282026	186.51	8162026	43
XLC	State Street Communication Services Select Sector SPDR ETF	-6.4%	111.18	9282026	118.79	4192026	162
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-10.5%	109.00	9282026	121.82	5282026	123
XLP	State Street Consumer Staples Select Sector SPDR ETF	-5.9%	82.28	9282026	87.45	8242026	35
XLU	State Street Utilities Select Sector SPDR ETF	-16.2%	39.25	9282026	46.85	4092026	172
XLB	State Street Materials Select Sector SPDR ETF	-7.8%	49.47	9282026	53.67	8262026	33
IYJ	iShares U.S. Industrials ETF	-8.6%	155.25	9282026	169.86	8042026	55
IYM	iShares U.S. Basic Materials ETF	-8.5%	179.84	9282026	196.45	8252026	34
FXN	First Trust Energy AlphaDEX Fund	-9.0%	22.16	9282026	24.35	9152026	13
SMH	VanEck Semiconductor ETF	-10.3%	600.01	9282026	668.91	6222026	98
SOXX	iShares Semiconductor ETF	-14.4%	560.79	9282026	655.01	6222026	98
XBI	State Street SPDR S&P Biotech ETF	-7.6%	156.61	9282026	169.55	8192026	40
ITA	iShares U.S. Aerospace & Defense ETF	-17.4%	209.26	9282026	253.22	8162026	43
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	-9.8%	180.14	9282026	199.70	9152026	13
IYT	iShares U.S. Transportation ETF	-12.2%	79.07	9282026	90.01	7162026	74
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	-9.9%	178.38	9282026	198.06	9032026	25
KRE	State Street SPDR S&P Regional Banking ETF	-9.5%	70.55	9282026	77.93	8162026	43
MISL	First Trust Indxx Aerospace & Defense ETF	-14.8%	41.90	9282026	49.19	5282026	123
RING	iShares MSCI Global Gold Miners ETF	-17.6%	76.77	9282026	93.17	8252026	34
SOXQ	Invesco PHLX Semiconductor ETF	-14.8%	98.08	9282026	115.11	6222026	98
IGOV	iShares International Treasury Bond ETF	-5.7%	39.88	9282026	42.27	5102026	141
IEF	iShares 7-10 Year Treasury Bond ETF	-5.4%	89.53	9282026	94.66	4192026	162
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	-5.9%	102.47	9282026	108.85	6292026	91
TLT	iShares 20+ Year Treasury Bond ETF	-9.4%	78.62	9282026	86.78	6292026	91
VGLT	Vanguard Long-Term Treasury ETF	-8.3%	50.57	9282026	55.12	6292026	91
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-8.6%	24.06	9282026	26.33	6292026	91
TLH	iShares 10-20 Year Treasury Bond ETF	-7.8%	92.75	9282026	100.56	6292026	91
EDV	Vanguard World Funds Extended Duration ETF	-13.3%	56.72	9282026	65.43	6242026	96
VCLT	Vanguard Long-Term Corporate Bond ETF	-7.9%	68.97	9282026	74.85	6292026	91
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-8.4%	20.52	9282026	22.40	6292026	91
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	-8.1%	45.98	9282026	50.05	6292026	91
MUB	iShares National Muni Bond ETF	-6.2%	100.61	9282026	107.28	7062026	84
VTEB	Vanguard Tax-Exempt Bond Index Fund	-6.1%	47.19	9282026	50.25	7062026	84
TFI	State Street SPDR Nuveen ICE Municipal Bond ETF	-6.6%	42.58	9282026	45.59	7052026	85
ITM	VanEck Intermediate Muni ETF	-6.2%	43.85	9282026	46.77	7062026	84
LMUB	iShares Long-Term National Muni Bond ETF	-9.4%	46.23	9282026	51.00	7052026	85
GLD	SPDR Gold Trust	-15.3%	377.91	9282026	445.93	4192026	162
IAU	iShares Gold Trust	-15.2%	77.50	9282026	91.34	4192026	162
GLDM	SPDR Gold MiniShares Trust	-15.1%	81.56	9282026	96.04	4192026	162
SLV	iShares Silver Trust	-30.7%	54.95	9282026	79.35	5132026	138
PPLT	ETFS Physical Platinum Shares	-20.4%	15.57	9282026	19.55	5132026	138
PALL	ETFS Physical Palladium Shares	-23.8%	22.01	9282026	28.89	4142026	167
USO	United States Oil Fund LP	-7.3%	150.01	9282026	161.86	9152026	13
UNG	United States Natural Gas Fund LP	-11.0%	10.79	9282026	12.12	6042026	116
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	9282026	60.13	5042026	147
VNQ	Vanguard Real Estate ETF	-9.5%	90.59	9282026	100.08	7282026	62
XLRE	State Street Real Estate Select Sector SPDR ETF	-10.1%	41.35	9282026	46.01	7282026	62
SCHH	Schwab U.S. REIT ETF	-10.5%	22.25	9282026	24.86	7262026	64
IYR	iShares U.S. Real Estate ETF	-10.3%	96.16	9282026	107.26	7282026	62
REET	iShares Global REIT ETF	-10.0%	26.01	9282026	28.89	7262026	64
USRT	iShares Core U.S. REIT ETF	-10.9%	62.22	9282026	69.82	7262026	64

ETF Fund Flows

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

Net fund flows · as of 2026-09-28

Asset allocation rotation · Past week

Bond ETFs drew the largest net inflows (+$10.3B), followed by Equity (+$3.1B), while Commodity (−$362M) saw the largest outflows.
Within the mix, money rotated into US Nasdaq Growth (+$7.6B) and out of Factor Smart Beta (−$5.5B).
Relative to fund size, CORO drew the largest inflow (+35.0% of AUM) and MTUM the largest outflow (−24.1%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$24.44B	+2.8%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$14.91B	+1.8%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$6.42B	+1.3%
4	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.2B	+32.0%
5	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.48B	+35.0%
6	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$4.46B	+9.3%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$2.57B	+5.6%
8	BLCR	iShares Large Cap Core Active ETF	Other	+$2.39B	+26.2%
9	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	+$2.26B	+2.9%
10	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	+$1.35B	+8.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.48B	+35.0%
2	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.2B	+32.0%
3	BLCR	iShares Large Cap Core Active ETF	Other	+$2.39B	+26.2%
4	GGOV	iShares Global Government Bond USD Hedged Active ETF	Bond International	+$925M	+23.2%
5	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	+$202M	+17.0%
6	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$279M	+16.4%
7	XTEN	BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	Other	+$186M	+15.5%
8	IYK	iShares U.S. Consumer Staples ETF	Other	+$231M	+14.6%
9	EWL	iShares MSCI Switzerland ETF	Other	+$374M	+13.8%
10	IALT	iShares Systematic Alternatives Active ETF	Equity Asset Allocation	+$907M	+13.2%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$45.24B	-4.3%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.0B	-24.1%
3	VUG	Vanguard Morningstar Growth ETF	Equity US Large Growth	-$1.81B	-0.8%
4	VO	Vanguard Morningstar Mid-Cap ETF	Equity US Mid Cap Core	-$1.8B	-1.7%
5	MBB	iShares MBS ETF	Bond Mortgage Backed	-$1.77B	-4.8%
6	VTV	Vanguard Morningstar Value ETF	Equity US Large Value	-$1.55B	-0.8%
7	EFG	iShares MSCI EAFE Growth ETF	Other	-$1.22B	-7.9%
8	ARKK	ARK Innovation ETF	Equity Thematic	-$1.01B	-11.5%
9	BSV	Vanguard Short-Term Bond ETF	Other	-$986M	-2.1%
10	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$986M	-2.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.0B	-24.1%
2	LMUB	iShares Long-Term National Muni Bond ETF	Bond Municipal	-$322M	-21.4%
3	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	-$678M	-13.9%
4	IDEF	iShares Defense Industrials Act	Other	-$508M	-13.2%
5	MTBA	Simplify MBS ETF	Other	-$146M	-12.0%
6	IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	Bond Long Corporate	-$296M	-11.7%
7	ARKK	ARK Innovation ETF	Equity Thematic	-$1.01B	-11.5%
8	SBIL	Simplify Government Money Market ETF	Other	-$408M	-9.4%
9	IYT	iShares U.S. Transportation ETF	Equity Industry Subsector	-$163M	-8.6%
10	EFG	iShares MSCI EAFE Growth ETF	Other	-$1.22B	-7.9%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$21.8B), followed by Bond (+$19.8B), with every major asset class in net inflows.
Within the mix, money rotated into Core Plus Multisector (+$6.9B) and out of US Large Cap Core (−$9.6B).
Relative to fund size, CORO drew the largest inflow (+54.7% of AUM) and SCMB the largest outflow (−26.9%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$6.37B	+5.8%
2	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$5.34B	+12.2%
3	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.2B	+41.6%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$4.99B	+0.7%
5	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.64B	+54.7%
6	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$3.45B	+2.0%
7	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$3.24B	+2.9%
8	MUB	iShares National Muni Bond ETF	Bond Municipal	+$2.6B	+5.7%
9	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$2.56B	+5.5%
10	BLCR	iShares Large Cap Core Active ETF	Other	+$2.51B	+36.9%

#	Ticker	Name	Type	Net flow	% of AUM
1	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.64B	+54.7%
2	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.2B	+41.6%
3	BLCR	iShares Large Cap Core Active ETF	Other	+$2.51B	+36.9%
4	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.03B	+35.1%
5	AGIX	KraneShares Public-Private AI & Technology ETF	Equity Thematic	+$371M	+34.4%
6	PSEP	Innovator U.S. Equity Power Buffer ETF	Other	+$339M	+31.8%
7	GGOV	iShares Global Government Bond USD Hedged Active ETF	Bond International	+$967M	+31.2%
8	ARKK	ARK Innovation ETF	Equity Thematic	+$1.69B	+25.4%
9	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$382M	+23.9%
10	XAGG	Morgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETF	Other	+$384M	+23.5%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$17.96B	-1.7%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.13B	-21.3%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$4.24B	-0.9%
4	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$3.34B	-11.9%
5	MBB	iShares MBS ETF	Bond Mortgage Backed	-$1.77B	-4.5%
6	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	-$1.69B	-6.2%
7	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$1.69B	-6.1%
8	EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	Other	-$1.43B	-10.2%
9	DRAM	Roundhill Memory ETF	Other	-$1.37B	-5.3%
10	EFG	iShares MSCI EAFE Growth ETF	Other	-$1.36B	-8.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	SCMB	Schwab Municipal Bond ETF	Other	-$959M	-26.9%
2	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$455M	-24.7%
3	PWV	Invesco Large Cap Value ETF	Other	-$411M	-21.6%
4	MTBA	Simplify MBS ETF	Other	-$293M	-21.5%
5	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.13B	-21.3%
6	CTA	Simplify Managed Futures Strategy ETF	Other	-$304M	-19.5%
7	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$287M	-18.8%
8	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	-$709M	-15.3%
9	EWG	iShares MSCI Germany ETF	Other	-$232M	-14.5%
10	SBIL	Simplify Government Money Market ETF	Other	-$635M	-13.4%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$131.5B), followed by Bond (+$62.6B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$22.4B) and out of Intermediate Treasury (−$4.1B).
Relative to fund size, CNEQ drew the largest inflow (+218.9% of AUM) and FTXL the largest outflow (−80.6%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$26.82B	+2.6%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$17.02B	+10.1%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$16.27B	+15.8%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$16.04B	+2.3%
5	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$10.34B	+9.5%
6	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$10.04B	+22.1%
7	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$8.29B	+5.1%
8	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$7.86B	+4.8%
9	GLD	SPDR Gold Shares	Commodity Gold	+$7.57B	+5.3%
10	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$7.43B	+7.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$2.38B	+218.9%
2	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.25B	+85.7% ⚠
3	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.31B	+85.2%
4	BFLX	iShares Flexible Equity Active ETF	Other	+$1.41B	+83.9%
5	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$827M	+62.0%
6	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.32B	+58.4%
7	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$697M	+50.9%
8	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.87B	+48.6%
9	XAGG	Morgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETF	Other	+$674M	+48.2%
10	BLCR	iShares Large Cap Core Active ETF	Other	+$2.94B	+43.9%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$27.0B	-3.1%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.29B	-24.9%
3	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$3.4B	-7.9%
4	VONG	Vanguard Russell 1000 Growth ETF	Equity US Large Growth	-$3.33B	-7.3%
5	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$3.1B	-9.4%
6	VTWO	Vanguard Russell 2000 ETF	Equity US Small Cap Core	-$2.61B	-15.0%
7	VONV	Vanguard Russell 1000 Value ETF	Other	-$2.54B	-11.5%
8	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$2.12B	-15.2%
9	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$2.06B	-1.6%
10	SCZ	iShares MSCI EAFE Small-Cap ETF	Equity International Small Cap	-$1.93B	-14.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$1.07B	-80.6%
2	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$657M	-35.9%
3	PDP	Invesco Dorsey Wright Momentum ETF	Other	-$511M	-34.5%
4	TAN	Invesco Solar ETF	Other	-$444M	-33.6%
5	VTWG	Vanguard Russell 2000 Growth ETF	Other	-$473M	-31.3%
6	QLTA	iShares Aaa - A Rated Corporate Bond ETF	Other	-$358M	-29.5%
7	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$336M	-27.0%
8	RSPN	Invesco S&P 500 Equal Weight Industrials ETF	Other	-$276M	-25.7%
9	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.29B	-24.9%
10	MTBA	Simplify MBS ETF	Other	-$361M	-24.4%

Largest ETF fund flows across ~2647 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: 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
KOD	Kodiak Sciences	5.6	178.0%	221.6%
AMC	AMC Entertainment	2.4	11.9%	110.9%
ANNX	Annexon	0.8	10.2%	-20.1%
ABCL	AbCellera Biologics	4.3	9.6%	307.0%
HHH	Howard Hughes	4.4	8.1%	-7.3%
XERS	Xeris Biopharma	1.7	8.0%	25.2%
ADMA	ADMA Biologics	2.3	7.9%	-44.5%
LQDA	Liquidia	6.5	7.7%	113.6%
SGMT	Sagimet Biosciences	0.5	7.6%	67.9%
XNCR	Xencor	1.9	7.6%	67.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ITG	ITG	0.3	-32.6%	-76.6%
OCUL	Ocular Therapeutix	1.7	-20.7%	-36.9%
MDB	MongoDB	26.9	-18.5%	-20.3%
CCB	Coastal Financial	0.6	-16.2%	-67.2%
AUR	Aurora Innovation	10.5	-12.4%	37.8%
SWMR	Swarmer	0.3	-12.3%	-41.4%
MOD	Modine Manufacturing	9.3	-11.6%	31.1%
ENVX	Enovix	0.6	-11.0%	-65.0%
RBLX	Roblox	30.0	-9.9%	-48.3%
GMRS	GMR Solutions	0.6	-9.4%	-28.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
KOD	Kodiak Sciences	5.6	177.4%	221.6%
BALY	Ballys	0.8	32.6%	-15.3%
VICR	Vicor	13.1	27.3%	160.1%
SECZ	Securitize	2.5	23.2%	35.2%
GRAL	GRAIL	5.7	22.8%	55.0%
PS	Pershing Square	23.7	22.7%	145.4%
QMCO	Quantum	0.7	20.3%	386.8%
MAZE	Maze Therapeutics	1.6	19.9%	-35.2%
CBRL	Cracker Barrel Old Country Store	1.2	19.7%	115.8%
CDNA	CareDx	3.3	18.9%	242.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ITG	ITG	0.3	-39.4%	-76.6%
XNDU	Xanadu Quantum Technologies	1.4	-35.3%	-58.5%
KDK	Kodiak AI	0.4	-30.6%	-79.2%
CGEM	Cullinan Therapeutics	0.9	-30.0%	44.4%
CTEV	Claritev	0.4	-28.9%	-47.4%
BYND	Beyond Meat	4.3	-28.5%	-65.4%
GEN	Gen Digital	12.5	-28.5%	-22.2%
ALKT	Alkami Technology	1.4	-27.7%	-42.0%
EOSE	Eos Energy Enterprises	1.0	-24.6%	-73.2%
OCUL	Ocular Therapeutix	1.7	-23.4%	-36.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SECZ	Securitize	2.5	149.3%	35.2%
KOD	Kodiak Sciences	5.6	129.9%	221.6%
GRAL	GRAIL	5.7	60.8%	55.0%
BALY	Ballys	0.8	53.8%	-15.3%
ACVA	ACV Auctions	1.8	44.9%	30.4%
SDGR	Schrodinger	2.2	44.5%	65.0%
MXL	MaxLinear	8.1	41.9%	416.4%
PS	Pershing Square	23.7	40.5%	145.4%
VICR	Vicor	13.1	40.0%	160.1%
MRNA	Moderna	78.5	38.2%	569.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ADBT	Advasa	0.1	-97.8%	-98.2%
ALMS	Alumis	0.9	-69.2%	-26.6%
XNDU	Xanadu Quantum Technologies	1.4	-54.0%	-58.5%
SWMR	Swarmer	0.3	-50.2%	-41.4%
RARE	Ultragenyx Pharmaceutical	1.5	-45.1%	-37.3%
ITG	ITG	0.3	-45.1%	-76.6%
KDK	Kodiak AI	0.4	-42.8%	-79.2%
CTEV	Claritev	0.4	-42.1%	-47.4%
IMUX	Immunic	0.4	-41.7%	78.2%
ALHC	Alignment Healthcare	1.6	-41.5%	-59.8%

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	74.6	48.2	10.7	10.2	12.5	11.6
Expense Ratio	0.60%	0.35%	0.33%	0.44%	0.35%	0.37%	0.36%
10-D Avg Volume (Mil)	0.10	9.90	9.37	1.55	8.87	0.74	5.21
Latest Day Volume (Mil)	0.09	3.30	3.48	0.65	5.22	-	3.30
Holdings Count	39	26	30	243	165	50	44
Inception Date	10/25/2022	12/20/2011	7/9/2001	2/4/2001	1/31/2006	4/30/2006	-

Fundamentals

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
Net Asset Value	42.71	606.67	565.86	209.30	154.93	212.52	-
Premium/Discount	-1.9%	-1.1%	-0.9%	0.7%	1.1%	-1.5%	-1.0%
Distribution Yield	0.4%	0.2%	0.3%	0.2%	0.4%	0.0%	0.2%
Sales Yield	32.3%	6.8%	7.0%	11.8%	9.1%	33.5%	10.5%
Earnings Yield	2.6%	2.2%	1.8%	1.8%	1.3%	3.0%	2.0%

Valuation

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
P/S (TTM)	3.1x	14.7x	14.3x	8.5x	10.9x	3.0x	9.7x
P/E (TTM)	39.0x	45.8x	56.7x	55.1x	75.1x	33.1x	50.5x
P/FCF (TTM)	54.9x	56.0x	67.0x	-	-	37.1x	55.5x
Forward P/E	30.8x	-	-	-	53.7x	26.9x	30.8x
Forward P/S	2.7x	-	-	-	7.3x	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)	25.7%	39.9%	46.3%	21.9%	28.2%	23.3%	26.9%
Volatility (3Y)	20.9%	37.0%	39.7%	21.1%	28.1%	20.2%	24.6%
Volatility (5Y)	19.8%	36.8%	38.7%	22.3%	32.4%	20.4%	27.3%
Beta (1Y)	1.20	2.37	2.60	0.80	1.07	1.03	1.14
Beta (3Y)	0.87	1.97	2.06	0.82	1.03	0.85	0.95
Beta (5Y)	0.82	1.76	1.82	0.86	1.16	0.81	1.01
Sharpe Ratio (1Y)	0.29	1.78	1.83	2.02	1.89	0.25	1.80
Sharpe Ratio (3Y)	1.16	1.50	1.30	0.97	1.04	1.24	1.20
Sharpe Ratio (5Y)	1.04	1.02	0.89	0.31	0.28	0.85	0.87
Max Drawdown (1Y)	-17.8%	-24.6%	-29.0%	-9.6%	-10.5%	-17.4%	-17.6%
Max Drawdown (3Y)	-17.9%	-35.7%	-41.4%	-24.9%	-33.0%	-17.4%	-28.9%
Max Drawdown (5Y)	-17.9%	-45.3%	-45.8%	-39.0%	-53.2%	-18.7%	-42.2%

Returns

	MISL	SMH	SOXX	IBB	XBI	ITA	Median
Name	First Trus.	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	iShares U..
1M Return	-6.8%	4.7%	6.7%	-1.9%	-6.9%	-10.7%	-4.3%
3M Return	-6.8%	-5.1%	-8.7%	11.0%	-1.1%	-12.5%	-5.9%
6M Return	-5.3%	60.3%	73.4%	31.4%	31.0%	-3.1%	31.2%
YTD Return	-2.1%	66.6%	86.4%	25.0%	28.4%	-2.4%	26.7%
1Y Return	4.4%	87.5%	109.6%	51.8%	63.9%	3.2%	57.9%
2Y Return	33.6%	153.0%	152.8%	45.5%	58.5%	41.6%	52.0%
3Y Return	94.3%	332.1%	271.3%	72.7%	113.6%	99.7%	106.7%

Short Interest

Short Interest: As Of Date	9152026
Short Interest: Shares Quantity	0.0 Mil
Short Interest: % Change Since 8312026	386.6%
Average Daily Volume	0.1 Mil
Days-to-Cover Short Interest	1

External Quote Links

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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 (9/29/2026): $41.78

First Trust Indxx Aerospace & Defense ETF (MISL)

Market Price (9/29/2026): $41.78

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

Wealth

Alert Me Periodically

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