Global X defence tech ETF: Full-blooded exposure

ETF stream09-19

A late entry to the defence ETF arms race sees Global X debut Europe's most pure exposure to the sector to-date.The Global X Defence Tech UCITS ETF (ARMR) listed on the London Stock Exchange, Deutsche...

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Its next best rival, DFND, captures 13 of the top 20.While DFNS and NATO provide a more holistic view of defence exposure – capturing the likes of cybersecurity, communications and biometric scanner specialists – their ESG overlay also sees them exclude UN Global Compact violators, some of which are among the largest operators in the defence sector.This sees DFNS award top allocations to the likes of Crowdstrike and Palo Alto, whereas ARMR weights heavily to Lockheed Martin, RTX and Northrup Grumman.DFND, meanwhile, may offer a seemingly more vanilla defence exposure; however, its approach of capturing the GICS defence sector means it focuses on gross revenue rather than revenue purity, meaning it allocates some of its largest weights to aircraft manufacturers Airbus and Safran, both of which derived around 20% of their revenues from the defence sector in 2023.Taking a different approach, ARMR’s underlying index only captures companies with at least 50% revenue attributable to one or more defence subthemes, which does not include manufacturers of civilian firearms or commercial aircraft.In sum, Global X’s new offering may not be a tech-based defence exposure as future theme investors might expect. What it does provide is the highest beta exposure to traditional defence names of any ETF currently available in Europe.Stat attack (as of 18 Sept)DFNSNATODFNDARMRAUM$1bn$463m$91mN/ATER0.55%0.49%0.35%0.50%Inception31/03/2303/07/2301/02/2412/09/24Constituent count28495634Six-month return14.2%7.7%10.3%N/A","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468295875"}