Holdings of SPDR S&P Aerospace & Defense ETF
Virtually all holdings in this ETF fall within the industrials sector, as aerospace and defense is a subset of this category. In recent years, ongoing geopolitical tensions and conflicts have driven strong price appreciation across the industry.
It currently trades at elevated valuations, with an estimated three- to five-year earnings per share (EPS) growth rate of 13.3%, a price-to-cash flow ratio of 28.3, a price-to-earnings (P/E) ratio of 39.66, and a price-to-book (P/B) ratio of 4.87.
Due to its equal-weight methodology, The ETF's top holdings are more a reflection of short-term performance between rebalancing cycles than a permanent ranking of industry leaders.
Compared to other aerospace and defense ETFs, the portfolio tilts less toward large prime contractors and more toward emerging innovators and component manufacturers, particularly in commercial aviation.
As of August 2025, top holdings include:
- Rocket Lab (RKLB +2.50%) -- 5.16%
- Kratos Defense & Security (KTOS +0.80%) -- 4.67%
- AeroVironment (AVAV +2.85%) --4.44%
- BWX Technologies (BWXT +1.79%) -- 4.23%
- Northrop Grumman (NOC +0.70%) -- 3.86%
- Huntington Ingalls Industries (HII +0.61%) -- 3.78%
- General Dynamics (GD -0.78%) -- 3.65%
- L3Harris Technologies (LHX -0.28%) -- 3.59%
- Axon Enterprise (AXON -1.99%) -- 3.55%
- General Electric (GE -0.66%) -- 3.55%
