MISL vs. XAR
Compare and contrast key facts about First Trust Indxx Aerospace & Defense ETF (MISL) and SPDR S&P Aerospace & Defense ETF (XAR).
MISL and XAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MISL is a passively managed fund by First Trust that tracks the performance of the Indxx US Aerospace & Defense Index - Benchmark TR Gross. It was launched on Oct 25, 2022. XAR is a passively managed fund by State Street that tracks the performance of the S&P Aerospace & Defense Select Industry. It was launched on Sep 28, 2011. Both MISL and XAR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
MISL vs. XAR - Performance Comparison
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MISL vs. XAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MISL First Trust Indxx Aerospace & Defense ETF | 6.94% | 41.24% | 20.48% | 14.78% | 8.22% |
XAR SPDR S&P Aerospace & Defense ETF | 7.80% | 46.15% | 23.32% | 23.79% | 7.54% |
Returns By Period
In the year-to-date period, MISL achieves a 6.94% return, which is significantly lower than XAR's 7.80% return.
MISL
- 1D
- 2.28%
- 1M
- -9.73%
- YTD
- 6.94%
- 6M
- 9.60%
- 1Y
- 51.50%
- 3Y*
- 27.55%
- 5Y*
- —
- 10Y*
- —
XAR
- 1D
- 2.35%
- 1M
- -10.28%
- YTD
- 7.80%
- 6M
- 10.02%
- 1Y
- 61.14%
- 3Y*
- 31.26%
- 5Y*
- 16.10%
- 10Y*
- 18.34%
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MISL vs. XAR - Expense Ratio Comparison
MISL has a 0.60% expense ratio, which is higher than XAR's 0.35% expense ratio.
Return for Risk
MISL vs. XAR — Risk / Return Rank
MISL
XAR
MISL vs. XAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Aerospace & Defense ETF (MISL) and SPDR S&P Aerospace & Defense ETF (XAR). 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.
| MISL | XAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.15 | 2.17 | -0.02 |
Sortino ratioReturn per unit of downside risk | 2.87 | 2.84 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.34 | 3.62 | -0.28 |
Martin ratioReturn relative to average drawdown | 12.29 | 12.65 | -0.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MISL | XAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.15 | 2.17 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 0.84 | +0.60 |
Correlation
The correlation between MISL and XAR is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MISL vs. XAR - Dividend Comparison
MISL's dividend yield for the trailing twelve months is around 0.36%, more than XAR's 0.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MISL First Trust Indxx Aerospace & Defense ETF | 0.36% | 0.40% | 0.74% | 0.63% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XAR SPDR S&P Aerospace & Defense ETF | 0.34% | 0.40% | 0.66% | 0.54% | 0.50% | 0.83% | 0.63% | 0.75% | 1.19% | 0.76% | 1.09% | 2.31% |
Drawdowns
MISL vs. XAR - Drawdown Comparison
The maximum MISL drawdown since its inception was -17.91%, smaller than the maximum XAR drawdown of -46.37%. Use the drawdown chart below to compare losses from any high point for MISL and XAR.
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Drawdown Indicators
| MISL | XAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.91% | -46.37% | +28.46% |
Max Drawdown (1Y)Largest decline over 1 year | -15.45% | -17.22% | +1.77% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.37% | — |
Current DrawdownCurrent decline from peak | -10.30% | -11.16% | +0.86% |
Average DrawdownAverage peak-to-trough decline | -3.17% | -6.76% | +3.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | 4.93% | -0.73% |
Volatility
MISL vs. XAR - Volatility Comparison
The current volatility for First Trust Indxx Aerospace & Defense ETF (MISL) is 8.47%, while SPDR S&P Aerospace & Defense ETF (XAR) has a volatility of 10.57%. This indicates that MISL experiences smaller price fluctuations and is considered to be less risky than XAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MISL | XAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.47% | 10.57% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 17.76% | 21.39% | -3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.09% | 28.34% | -4.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 22.93% | -4.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.70% | 24.35% | -5.65% |