BenzingaT3·22mo ago
WAR U.S. Global Technology and Aerospace & Defense ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
WAR
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Key stats
About
U.S. Global Technology and Aerospace & Defense ETF (WAR) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2024-12-27
- Has Options
- No
Fund profile
holdings as of Jun 30, 2026SEC filingthrough Jun 2026flows, SEC filings
- Expense ratio
- 0.60% prospectus, filed Apr 24, 2026
- Assets
- $41M SEC filing, Jun 30, 2026
- Trailing yield
- 11.60%
- Average daily volume
- $264K 30 sessions
- Holdings
- 30 top 10 are 61.0%
- Listed
- Dec 27, 2024 NYSE Arca
Cost40
Liquidity14
Scale15
Diversification45
Moves with. Value over growth (31% of its variance, beta -1.09); US large-cap stocks (26% of its variance, beta 1.07); Emerging markets over US (10% of its variance, beta 0.40); Small caps over large (8% of its variance, beta 1.00). These factors explain 70% of its daily moves over the last year.
Stated objective. The U.S. Global Technology and Aerospace & Defense ETF (the Fund) seeks to provide capital appreciation. (from the fund's prospectus)
All 30 holdingsFlow historySimilar fundsOverlap toolAll Aerospace & Defense ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- −$10K latest reported month
- Latest 3 months
- +$11M +26.5% of assets
- Latest 12 months
- +$26M +63.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$10K |
| May 2026 | +$9.5M |
| Apr 2026 | +$1.5M |
| Mar 2026 | +$6.5M |
| Feb 2026 | +$2.6M |
| Jan 2026 | +$1.2M |
| Dec 2025 | $0 |
| Nov 2025 | $0 |
| Oct 2025 | +$2.7M |
| Sep 2025 | $0 |
| Aug 2025 | +$1.2M |
| Jul 2025 | +$1.2M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 19 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| AIPIREX AI Equity Premium Income ETF | 23% | 0.65% | $423M | −27.4% | compare |
| SPRXSpear Alpha ETF | 23% | 0.75% | $170M | −13.1% | compare |
| WTAIWisdomTree Artificial Intelligence and Innovation Fund | 22% | 0.45% | $581M | +11.5% | compare |
| LRNZTrueShares Technology, AI & Deep Learning ETF | 20% | 0.68% | $42M | +13.9% | compare |
| TRFKPacer Data and Digital Revolution ETF | 19% | 0.49% | $1.0B | +16.2% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Jun 30, 2026SEC filing- Holdings vs fair value
- −2.7% 44% under, 51% over · 70% covered
- Price / earnings
- 56.1 19% loss-making · 70% covered
- Price / book · sales
- 10.1 · 7.8 revenue growth +27.7%
- Above 200-day average
- 35% 21% above 50-day · by weight
- Short interest
- 7.7% of float, weighted · 2.9 days to cover
- Insider buying
- 9% of weight had net insider buying, 90 days; 60% net selling
- 13F holders
- +8.1% change in shares held by institutions, latest quarter
- Reporting earnings
- 3.7% of weight in 7 days; 3.7% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.35%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Mar 31, 2026 → Jun 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | AXONAxon Enterprise Inc | — | 8.71% | — |
| Exit | AeroEdge Co Ltd | 5.61% | — | — |
| Exit | AVAVAeroVironment Inc | 5.41% | — | — |
| Exit | MRVLMarvell Technology Inc | 5.24% | — | — |
| Decrease | AMPXAmprius Technologies Inc | 7.70% | 2.59% | −36.9% |
| New position | LUNRIntuitive Machines Inc | — | 4.95% | — |
| New position | TERTeradyne Inc | — | 4.93% | — |
| Exit | AMDAdvanced Micro Devices Inc | 4.28% | — | — |
| Exit | LMTLockheed Martin Corp | 4.24% | — | — |
| Exit | WWDWoodward Inc | 4.21% | — | — |
14 new, 14 exited, 5 increased and 7 decreased between the fund's two latest holdings reports; turnover 59.5%. Full holdings and history
Under the hood
fiscal year to Dec 31, 2025SEC census- Authorized participants
- 1 active of 1 with agreements; top 3 did 100%
- Created · redeemed
- $9.2M · $0 over the fiscal year
- Redemptions in kind
- 0% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 4.39% of assets on loan on average; earned 0.8 bp
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-06-30
Holdings
30
AUM
$44.7M
Provider
Nport
Inception
2024-12-27
Exchange
ARCX
Data As Of
2026-06-30
Expense Ratio
0.60%
Dividend Yield
11.60%
Distribution
—
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-24 | 2025-12-26 | $2.9541 | CD |
Asset Allocation
Top Holdings
top 30 of 30 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| ALAB | Astera Labs Inc | 9.45% | Equity (common) | US |
| AXON | Axon Enterprise Inc | 8.71% | Equity (common) | US |
| MU | Micron Technology Inc | 8.54% | Equity (common) | US |
| — | Mount Vernon Liquid Assets Portfolio, LLC | 8.12% | Short-term investment | US |
| — | Mildef Group AB | 7.17% | Equity (common) | SE |
| — | DroneShield Ltd | 5.01% | Equity (common) | AU |
| LUNR | Intuitive Machines Inc | 4.95% | Equity (common) | US |
| TER | Teradyne Inc | 4.93% | Equity (common) | US |
| — | Electro Optic Systems Holdings | 4.09% | Equity (common) | AU |
| RYCEY | Rolls-Royce Holdings PLC | 4.06% | Equity (common) | GB |
| LSCC | Lattice Semiconductor Corp | 4.05% | Equity (common) | US |
| — | BE Semiconductor Industries NV | 3.82% | Equity (common) | NL |
| KRMN | Karman Holdings Inc | 3.69% | Equity (common) | US |
| NVDA | NVIDIA Corp | 3.64% | Equity (common) | US |
| — | Theon International PLC | 3.50% | Equity (common) | CY |
| CRWD | Crowdstrike Holdings Inc | 3.33% | Equity (common) | US |
| PLTR | Palantir Technologies Inc | 3.18% | Equity (common) | US |
| SNDK | Sandisk Corp | 2.97% | Equity (common) | US |
| AMPX | Amprius Technologies Inc | 2.59% | Equity (common) | US |
| NET | Cloudflare Inc | 2.10% | Equity (common) | US |
| TENB | Tenable Holdings Inc | 1.65% | Equity (common) | US |
| — | Nebius Group NV | 1.44% | Equity (common) | NL |
| — | Credo Technology Group Holding | 1.19% | Equity (common) | US |
| APH | Amphenol Corp | 1.16% | Equity (common) | US |
| LITE | Lumentum Holdings Inc | 0.97% | Equity (common) | US |
| CRWV | CoreWeave Inc | 0.91% | Equity (common) | US |
| CORZ | Core Scientific Inc | 0.90% | Equity (common) | US |
| APLD | Applied Digital Corp | 0.73% | Equity (common) | US |
| SMCI | Super Micro Computer Inc | 0.69% | Equity (common) | US |
| — | First American Government Obli | 0.60% | Short-term investment | US |
Geographic Breakdown
Non-Equity Breakdown
U.S. Global Technology and Aerospace & Defense ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-27)
Net assets:
$41M
· 30 total positions
· equity 99.43%
· non-equity 8.72%
Non-equity holdings
— 2 positions,
8.72% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 8.72% | $3.6M | 2 |
Seasonality
| Month | '24 | '25 | '26 | Avg |
|---|---|---|---|---|
| Jan | -- | 3.03% | 6.83% | 4.93% |
| Feb | -- | -2.97% | -2.49% | -2.73% |
| Mar | -- | -1.11% | -5.16% | -3.14% |
| Apr | -- | 3.51% | 22.29% | 12.90% |
| May | -- | 10.65% | 17.22% | 13.93% |
| Jun | -- | 6.78% | -1.60% | 2.59% |
| Jul | -- | -2.08% | -14.74% | -8.41% |
| Aug | -- | 1.47% | 4.05% | 2.76% |
| Sep | -- | 12.83% | 4.09% | 8.46% |
| Oct | -- | -2.04% | -12.59% | -7.31% |
| Nov | -- | -4.69% | -7.25%* | -5.97% |
| Dec | -0.16% | -7.01% | -- | -3.58% |
| Total | -0.16% | 17.68% | 4.33% | 7.28% |
* Only 3 year(s) of data available.
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $27.05
SMA 50: $29.33
SMA 200: $29.37
Current: $24.97
EMA 12: $26.11
EMA 26: $27.37
MACD: -1.2618 | Signal: -0.0854
BEARISH
ADX (14): 33.99
TREND
+DI: 20.97
−DI: 46.49
Momentum Oscillators
RSI (14): 37.68
NEUTRAL
Stoch %K: 35.72
Stoch %D: 37.95
Williams %R: -74.38
Volume & Volatility
BB Upper: $30.45
BB Lower: $23.64
NEUTRAL
OBV: 876,782
Vol SMA 20: 9,628
Vol ROC: 43.52%
ATR: $1.02
True Range: $1.00
HV 20: 61.9%
HV 30: 52.8%
HV 60: 43.6%
Data Summary
Data Points: 471
Last Updated:
Date Range: 2024-12-30T00:00:00 – 2026-11-13T00:00:00
AI Analysis
LLM Stock Analysis Report
SYMBOL: WAR
Executive Summary: BULLISH (Confidence Level: 7/10)
Key drivers: Recent positive news headlines, technical momentum signals, and relative strength in the sector.
Primary risks: High volatility, potential for a pullback if market trends reverse.
Investment thesis: Despite high volatility, WAR's technical momentum and recent positive news sentiment create an attractive opportunity to buy into this trend.
Recent news sentiment impact: The positive headline about US Global Investors' success has contributed significantly to WAR's recent price move.
Technical Analysis: Trend Direction:
- Short-term (1-4 weeks): Bullish
- Medium-term (1-3 months): Neutral
- Long-term (3-12 months): Bullish
Support/Resistance Levels:
- Upper Bollinger Band: $34.29
- Middle Bollinger Band: $31.88
- Lower Bollinger Band: $29.47
- Moving Average 20: $31.88
Momentum Signals: RSI (14) interpretation: Neutral (48.73), indicating a lack of overbought conditions. MACD signal: Bearish (-0.22 / Signal: -0.17 / Histogram: -0.05) Bollinger Bands position: Neutral, with price near the middle band.
Volume Analysis: Volume SMA 20: 15189.85 On-Balance Volume (OBV): 914568.67 Volume Rate of Change: -95.43%
News & Sentiment Analysis: Recent Headlines Summary:
- Positive news headline about US Global Investors' success in 2024.
Sentiment Assessment: POSITIVE
Catalyst Identification: Upcoming earnings announcements for similar companies in the sector.
Market Narrative: Recent positive news headlines align with technical momentum signals, indicating a potential buying opportunity.
Risk & Volatility Assessment: Beta Interpretation: High risk (2.07 vs SPY)
Volatility Regime: Current volatility is higher than historical levels.
Options Market Signals:
- IV rank: N/A
- Put/call ratios: N/A
- Unusual activity: None
Downside Protection:
- Support levels: Lower Bollinger Band ($29.47), Moving Average 20 ($31.88)
- Risk management considerations: Stop-loss levels around $30.00, position sizing with a maximum loss threshold.
Market Context & Positioning: Sector Performance: Relative strength vs sector/market: Strong
Institutional Activity: Volume patterns suggesting institutional interest: N/A
Correlation Analysis: How stock moves relative to market (R-squared interpretation): 0.71, indicating a moderate correlation.
Relative Valuation: Position within trading range: Bullish, with price near the upper end of the recent trading range.
Key Levels & Action Items: Critical Price Levels:
- Upper Bollinger Band ($34.29)
- Middle Bollinger Band ($31.88)
Breakout/Breakdown Levels:
- Technical levels that could trigger significant moves: Lower Bollinger Band ($29.47), Moving Average 20 ($31.88)
Time-Sensitive Catalysts:
- Earnings dates for similar companies in the sector
- Regulatory changes or market announcements
Risk Management: Stop-loss levels around $30.00, position sizing with a maximum loss threshold.
By analyzing these data points, I provide a comprehensive stock analysis report for WAR. The bullish trend direction and momentum signals suggest an attractive buying opportunity. However, high volatility and potential risks must be carefully managed through risk management strategies.
Generated
News
All WAR news →
WAR Options Activity & IV Rank
Loading options activity...
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Put vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Call vs ATM
IV(call wing) − IV(ATM), in vol pointsThe same measure on the upside: how the OTM call is priced against the at-the-money strike.
- Negative (typical) — calls trade below ATM for most stocks and indices, so the sign alone says little.
- Percentile vs own history: high = upside calls unusually rich for this name (squeezes, takeover talk, commodity supply scares); low = calls cheaper than usual.
Reading them together
Put or call vs ATM tells you how expensive that tail is. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d put
—
—
pts
EXTREME
ATM — / Put —
30 DTE / 10d put
—
—
pts
EXTREME
ATM — / Put —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 2.1531
Alpha: -16.73%
Correlation: 0.7156
R-Squared: 51.2%
Stock Volatility: 41.0%
Market Volatility: 13.6%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
WAR Institutional Ownership (13F)
Filings for 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
WAR Constituent Performance
Click any bar to view the full quote for that stock.
WAR Constituents (20 of 21)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| ALAB | Astera Labs Inc | 9.45% | $221.83 | -2.62% | +16.32% | -22.39% |
| AXON | Axon Enterprise Inc | 8.71% | $315.43 | +2.71% | +0.78% | -19.18% |
| MU | Micron Technology Inc | 8.54% | $778.31 | -2.52% | +12.80% | -11.44% |
| LUNR | Intuitive Machines Inc | 4.95% | $13 | -0.23% | +24.16% | +20.59% |
| TER | Teradyne Inc | 4.93% | $249.55 | -5.38% | +14.36% | -23.22% |
| LSCC | Lattice Semiconductor Corp | 4.05% | $112.35 | -5.47% | +6.98% | +8.39% |
| KRMN | Karman Holdings Inc | 3.69% | $40.66 | +0.40% | -10.85% | +17.24% |
| NVDA | NVIDIA Corp | 3.64% | $162.85 | -2.01% | -12.75% | -23.95% |
| CRWD | Crowdstrike Holdings Inc | 3.33% | $226.61 | -1.42% | +4.48% | -0.34% |
| PLTR | Palantir Technologies Inc | 3.18% | $167.99 | -2.09% | +4.74% | -9.70% |
| SNDK | Sandisk Corp | 2.97% | $885.01 | -5.59% | +5.98% | -31.89% |
| AMPX | Amprius Technologies Inc | 2.59% | $7.93 | -5.03% | -9.06% | +2.85% |
| NET | Cloudflare Inc | 2.10% | $305.81 | -3.98% | +13.79% | +3.21% |
| TENB | Tenable Holdings Inc | 1.65% | $40.76 | -0.71% | -3.25% | +9.57% |
| APH | Amphenol Corp | 1.16% | $78.23 | -1.75% | +4.88% | -1.41% |
| LITE | Lumentum Holdings Inc | 0.97% | $596.62 | -4.49% | +10.77% | -27.61% |
| CRWV | CoreWeave Inc | 0.91% | $53.13 | -6.13% | +14.50% | -13.45% |
| CORZ | Core Scientific Inc | 0.90% | $14.52 | +0.97% | +23.47% | +7.72% |
| APLD | Applied Digital Corp | 0.73% | $15.97 | -5.78% | +2.70% | -11.52% |
| SMCI | Super Micro Computer Inc | 0.69% | $26.86 | -0.46% | -6.59% | -15.06% |