Defense Stocks
Top 10 of 50 ITA holdings, updated
As of 12 October 2026, defense stocks are trailing the S&P 500, over the past month and over the longer run. ITA trails the S&P 500 by 7.8 points over one month and ranks #92 of 115 groups Zensei tracks. 21 of the 50 defense stocks Zensei prices in ITA beat the fund this month.
Where defense stocks stand now
As of 12 October 2026, Aerospace & Defense (ITA) ranks #92 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 7.8 points behind over the past month and 8.8 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, ITA's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. ITA's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via iShares U.S. Aerospace & Defense ETF, whose 50 tracked holdings are led by Ge Aerospace, Rtx Corp and Boeing Co. Weighted by portfolio, the fund's holdings trade at roughly 32.2× earnings. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
Top defense stocks right now
The largest defense stocks by weight in ITA, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of ITA
- 1Ge AerospaceGE20.7%
- 2Rtx CorpRTX16.1%
- 3Boeing CoBA7.8%
- 4Howmet Aerospace IncHWM4.7%
- 5Transdigm Group IncTDG4.6%
Strongest this month
1-month return, holdings Zensei prices
- 1Sturm Ruger & Co IncRGR+16.4%
- 2Smith & Wesson Brands IncSWBI+9.3%
- 3Rocket Lab CorpRKLB+4.4%
- 4Moog IncMOG-A+1.4%
- 5Honeywell Aerospace IncHONA−0.6%
Defense Stocks vs the S&P 500
Over the week to 12 October 2026, ITA fell 0.4% while the S&P 500 rose 0.4%. ITA and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means ITA won that window.
Prices as of · computed from daily adjusted closes · how we measure
Aerospace & Defense on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are defense stocks expensive?
The price-to-earnings ratio of ITA as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
ITA holdings: the defense stocks inside
As of 12 October 2026, 21 of the 50 defense stocks Zensei prices in ITA beat the fund over the past month. 3 of them beat the S&P 500. The strongest is Sturm Ruger & Co Inc (RGR); the weakest is Red Cat Holdings Inc (RCAT). Inside the fund, most holdings move the same way.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | GEGe Aerospace | 20.7% | −4.5% | −12.5% | +1.3 pts | Weak | Strong |
| 2 | RTXRtx Corp | 16.1% | −5.6% | −4.7% | +0.2 pts | Accelerating | Strong |
| 3 | BABoeing Co | 7.8% | −10.0% | −12.1% | −4.2 pts | Weak | Broken |
| 4 | HWMHowmet Aerospace Inc | 4.7% | −3.9% | −18.6% | |||
| 5 | TDGTransdigm Group Inc | 4.6% | −1.9% | −9.4% | |||
| 6 | LMTLockheed Martin Corp | 4.6% | −2.3% | −1.0% | |||
| 7 | GDGeneral Dynamics Corp | 4.4% | −5.4% | −9.7% | |||
| 8 | NOCNorthrop Grumman Corp | 4.4% | −6.5% | −10.1% | |||
| 9 | HONAHoneywell Aerospace Inc | 3.8% | −0.6% | −26.2% | |||
| 10 | LHXL3harris Technologies Inc | 3.4% | −3.0% | −17.1% |
All 50 ITA holdings by weight: Ge Aerospace (GE) 20.7%, Rtx Corp (RTX) 16.1%, Boeing Co (BA) 7.8%, Howmet Aerospace Inc (HWM) 4.7%, Transdigm Group Inc (TDG) 4.6%, Lockheed Martin Corp (LMT) 4.6%, General Dynamics Corp (GD) 4.4%, Northrop Grumman Corp (NOC) 4.4%, Honeywell Aerospace Inc (HONA) 3.8%, L3harris Technologies Inc (LHX) 3.4%, Rocket Lab Corp (RKLB) 3.2%, Axon Enterprise Inc (AXON) 2.6%, Ati Inc (ATI) 2.0%, Curtiss-Wright Corp (CW) 1.6%, Woodward Inc (WWD) 1.5%, Carpenter Technology Corp (CRS) 1.5%, Ftai Aviation Ltd (FTAI) 1.3%, Heico Corp (HEI-A) 1.3%, Textron Inc (TXT) 1.0%, Bwx Technologies Inc (BWXT) 1.0%, Heico Corp (HEI) 1.0%, Moog Inc (MOG-A) 0.9%, Huntington Ingalls Industries Inc (HII) 0.8%, Kratos Defense & Security Solutions Inc (KTOS) 0.6%, Hexcel Corp (HXL) 0.5%, Aerovironment Inc (AVAV) 0.4%, Mercury Systems Inc (MRCY) 0.4%, Standardaero Inc (SARO) 0.4%, Vse Corp (VSEC) 0.4%, Karman Holdings Inc (KRMN) 0.3%, Aar Corp (AIR) 0.3%, Archer Aviation Inc (ACHR) 0.3%, Leonardo Drs Inc (DRS) 0.2%, Redwire Corp (RDW) 0.2%, Beta Technologies Inc (BETA) 0.2%, Astronics Corp (ATRO) 0.2%, Ducommun Inc (DCO) 0.2%, Arxis Inc (ARXS) 0.2%, Intuitive Machines Inc (LUNR) 0.2%, Firefly Aerospace Inc (FLY) 0.2%, Loar Holdings Inc (LOAR) 0.2%, V2x Inc (VVX) 0.2%, Voyager Technologies Inc (VOYG) 0.1%, Red Cat Holdings Inc (RCAT) 0.1%, National Presto Industries Inc (NPK) 0.1%, Cadre Holdings Inc (CDRE) 0.1%, York Space Systems Inc (YSS) 0.1%, Smith & Wesson Brands Inc (SWBI) 0.1%, Sturm Ruger & Co Inc (RGR) 0.1%, Virgin Galactic Holdings Inc (SPCE) 0.0%.
Defense Stocks: common questions
What are the top 3 defense stocks?
As of 12 October 2026, the three largest defense stocks in ITA by fund weight are Ge Aerospace (GE) (20.7%), Rtx Corp (RTX) (16.1%) and Boeing Co (BA) (7.8%). Fund weight shows size inside the fund, not a recommendation.
Which defense stocks are beating the sector?
As of 12 October 2026, 21 of the 50 defense stocks Zensei prices in ITA beat the fund over the past month. The strongest over the past month is Sturm Ruger & Co Inc (RGR). The list above shows every holding with its weight and returns.
Are defense stocks outperforming the S&P 500?
No. As of 12 October 2026, ITA trails the S&P 500 by 7.8 points over the past month.
Is it a good time to invest in defense stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, defense stocks are behind the S&P 500 on both the recent and the longer window. The rotation map and the read on this page show whether that trend is building or fading.
What is ITA?
ITA is iShares U.S. Aerospace & Defense ETF. Zensei uses it to measure defense stocks against the S&P 500 (SPY).
What stocks does ITA own?
As of 12 October 2026, the largest of the 50 positions Zensei tracks in ITA are Ge Aerospace, Rtx Corp, Boeing Co, Howmet Aerospace Inc, Transdigm Group Inc. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is aerospace & defense in right now?
As of 12 October 2026, aerospace & defense is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: trailing the market
Related sectors
Track aerospace & defense against the whole market
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