MISL vs. JEDI

Last updated Jul 18, 2026

MISL (First Trust Indxx Aerospace & Defense ETF) and JEDI (Defiance Drone and Modern Warfare ETF) are both exchange-traded funds - MISL is a Industrials Equities fund tracking the Indxx US Aerospace & Defense Index - Benchmark TR Gross, while JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index. Both are passively managed. A 0.78 correlation means they provide meaningful diversification when combined. MISL charges 0.60%/yr vs 0.69%/yr for JEDI.

Performance

MISL vs. JEDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Aerospace & Defense ETF (MISL) and Defiance Drone and Modern Warfare ETF (JEDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MISL achieves a -0.55% return, which is significantly higher than JEDI's -4.49% return.

MISL

• 1D: -0.44%
• 1M: -10.10%
• 6M: -16.57%
• YTD: -0.55%
• 1Y: 8.00%
• 3Y*: 22.88%
• 5Y*: —
• 10Y*: —

JEDI

• 1D: -0.17%
• 1M: -24.98%
• 6M: -23.26%
• YTD: -4.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MISL vs. JEDI - Yearly Performance Comparison

	2026 (YTD)	2025
MISL First Trust Indxx Aerospace & Defense ETF	-0.55%	6.63%
JEDI Defiance Drone and Modern Warfare ETF	-4.49%	-3.42%

Correlation

The correlation between MISL and JEDI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	0.78

Return for Risk

MISL vs. JEDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MISL

MISL Risk / Return Rank: 16
MISL Sharpe Ratio Rank: 16
MISL Sortino Ratio Rank: 16
MISL Omega Ratio Rank: 15
MISL Calmar Ratio Rank: 17
MISL Martin Ratio Rank: 16

JEDI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MISL vs. JEDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Aerospace & Defense ETF (MISL) and Defiance Drone and Modern Warfare ETF (JEDI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MISL	JEDI	Difference
Sharpe ratio: Return per unit of total volatility	0.33	—	—
Sortino ratio: Return per unit of downside risk	0.66	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.48	—	—
Martin ratio: Return relative to average drawdown	1.12	—	—

Drawdowns

MISL vs. JEDI - Drawdown Comparison

The maximum MISL drawdown since its inception was -17.91%, smaller than the maximum JEDI drawdown of -45.36%. Use the drawdown chart below to compare losses from any high point for MISL and JEDI.

Drawdown Indicators

	MISL	JEDI	Difference
Max Drawdown Largest peak-to-trough decline	-17.91%	-45.36%	+27.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.57%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.91%	—	—
Current Drawdown Current decline from peak	-16.57%	-45.36%	+28.79%
Average Drawdown Average peak-to-trough decline	-3.74%	-12.49%	+8.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.13%	—	—

Volatility

Volatility by Period

	MISL	JEDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.26%	52.24%	-27.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	52.24%	-32.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	52.24%	-32.67%

MISL vs. JEDI - Expense Ratio Comparison

MISL has a 0.60% expense ratio, which is lower than JEDI's 0.69% expense ratio.

Dividends

MISL vs. JEDI - Dividend Comparison

MISL's dividend yield for the trailing twelve months is around 0.32%, while JEDI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
JEDI Defiance Drone and Modern Warfare ETF	0.00%	0.00%	0.00%	0.00%	0.00%
MISL First Trust Indxx Aerospace & Defense ETF	0.32%	0.40%	0.74%	0.63%	0.08%

Frequently Asked Questions

Can I hold both MISL and JEDI in my portfolio?

MISL and JEDI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MISL or JEDI?

On fees, MISL is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MISL or JEDI?

MISL is cheaper with a 0.60% expense ratio, compared with 0.69% for JEDI.

Which ETF pays a higher dividend yield, MISL or JEDI?

MISL has the higher dividend yield at 0.32%, compared with 0.00% for JEDI.

What is the main difference between MISL and JEDI?

MISL is categorized as Industrials Equities, while JEDI is Aerospace & Defense. MISL tracks Indxx US Aerospace & Defense Index - Benchmark TR Gross, while JEDI tracks BITA Drone & Modern Warfare Select Index. They also come from different issuers: First Trust and Defiance. Their fees differ too: 0.60% for MISL and 0.69% for JEDI.