MISL
First Trust Indxx Aerospace & Defense ETF
MISL tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 1.5 B
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Inception date | Oct 25, 2022 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| LOCKHEED MARTIN CORP | 9.8 % |
| RTX CORP | 8.7 % |
| GENERAL DYNAMICS CORP | 8.5 % |
| GE AEROSPACE | 7.6 % |
| BOEING CO | 7.0 % |
| NORTHROP GRUMMAN CORP | 4.8 % |
| HOWMET AEROSPACE INC. | 4.5 % |
| L3HARRIS TECHNOLOGIES INC | 4.4 % |
| TRANSDIGM GROUP INC | 3.5 % |
| AST SPACEMOBILE, INC. CLASS A | 3.5 % |
Constituent Breakdown
| Number of holdings | 39 |
| Herfindahl-Hirschman Index | 516 |
| Wgt avg mkt cap (mns) | $96,373 |
| Large cap (>$10bn) | 88.9% |
| Mid cap ($2-10bn) | 7.7% |
| Small cap (<$2bn) | 0.7% |
| Developed mkts. | 99.2% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 99.2 % |
Historical Performance
Standardized Performance (as of 02/28/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 15.3% | 63.3% | 36.9% | 29.5% | -- | -- | -- | 29.4% |
| Dividend Yield | 0.0% | 0.4% | 0.4% | 0.5% | -- | -- | -- | 0.5% |
| Total Returns | 15.3% | 63.8% | 37.3% | 30.1% | -- | -- | -- | 29.9% | Ann. Volatility | 27.3% | 23.3% | 20.1% | 18.4% | -- | -- | -- | 18.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.82 | 47% |
| MSCI EAFE | 0.87 | 38% |
| MSCI Emg Mkts | 0.71 | 30% |
Liquidity Measures
| Avg. volume (000) | 267 |
| ADV traded (mns) | $12 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.09% |
Technical Indicators
| 30d moving avg. (EMA) | $47.38 |
| Relative strength (RSI) | 42 |
| MACD/Signal | -0.92/-0.56 |
| Bollinger Bands (Upper/Lower) | $51.14/$44.14 |
| Short interest (% of AUM) | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MISL |
Expenses vs. MISL |
ALTAR Score™ vs. MISL |
|---|---|---|---|---|
| PPA | Invesco Aerospace & Defense ETF | 67.2% | -2 bp | +0.1% |
| ITA | iShares U.S. Aerospace & Defense ETF | 63.0% | -20 bp | -0.2% |
| NATO | Themes Transatlantic Defense ETF | 56.5% | -25 bp | +0.3% |
| XAR | State Street SPDR S&P Aerospace & Defense ETF | 53.1% | -25 bp | +0.1% |
| SHLD | Global X Defense Tech ETF | 43.5% | -10 bp | +0.9% |
| FOWF | Pacer Solactive Whitney Fututre of Warfare ETF | 42.0% | 0 bp | +1.9% |
| ROKT | State Street SPDR S&P Kensho Final Frontiers ETF | 31.0% | -15 bp | -0.8% |
| XLI | Industrial Select Sector SPDR | 26.9% | -52 bp | +2.4% |
| JEDI | Defiance Drone and Modern Warfare ETF | 24.5% | +9 bp | -0.4% |
| FITE | State Street SPDR S&P Kensho Future Security ETF | 22.9% | -15 bp | +0.1% |
Risk and Returns: MISL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/3/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Rating
2.1%
ALTAR SCORE™
4th
PERCENTILE
AVOID
ETFRC RATING
There are 1,196 funds in the US Equity category with an average
ALTAR Score™ of 5.7% and a standard deviation
of 2.1%. MISL's ALTAR Score™ is approximately -1.7 standard
deviations above the category average. This places MISL in the 4th percentile
among funds in the category.
Sell-Side Consensus
$54.87
PRICE TARGET
+19.7%
UPSIDE