VistaShares Defense 슈퍼사이클® ETF

AMMO는 비스타쉐어즈 디펜스 슈퍼사이클® ETF입니다. 이 ETF는 미국 국방부의 조달을 포함하여 글로벌 방산 공급망 전반의 기업에 투자하는 방산 ETF입니다. 이 ETF는 주요 방산 계약업체뿐만 아니라 방산 프로그램에 필요한 부품, 하위 시스템, 재료 및 지원 기술을 공급하는 기업들을 포트폴리오에 포함하고 있습니다. 이 ETF는 방산 인프라 ETF로서 장기적인 자산 가치 상승을 추구합니다.

AMMO is an exchange-traded fund (ETF), not a single company’s stock. One AMMO share represents an interest in a portfolio of global defense supply chain companies, and the shares trade during market hours like a stock under the ticker AMMO.

AMMO는 방위 센서, 전자 및 통신 제품을 기반으로 매출을 창출하는 글로벌 기업의 주식을 보유하고 있습니다. 또한 군용 항공기 추진 및 임무 시스템, 해군 추진 및 전투 시스템, 유도 미사일도 보유하고 있습니다. 부품 및 에너지학; 방위 우주 시스템; 지상 차량 시스템 및 핵심 소재. 이 회사는 주요 방위업체와 공급업체를 보유하고 있습니다. 전체 보유 현황 목록은 AMMO 펀드 페이지에서 확인할 수 있으며, 매일 업데이트됩니다.

AMMO seeks companies that derive their revenues from one of its six defense supply chain segments and that have significant economic exposure to defense. Companies with only incidental defense business are generally outside its mandate, and AMMO does not hold private companies.

AMMO’s investment adviser is VistaShares Advisors LLC, and the portfolio is run by the VistaShares Investment Committee, which maps the defense supply chain into six segments, selects and weights the suppliers in each, and watches for budget, contract and export changes between rebalances. More about the firm is on the VistaShares에 관하여 페이지.

The VistaShares Investment Committee oversees and manages all VistaShares ETFs, pairing investment professionals and scholars with advisors who have operated businesses in each fund’s industry. For AMMO, that includes experience running manufacturing and supply chains for advanced defense systems and building satellite platforms for national security missions. See the VistaShares에 관하여 page for more.

AMMO maps the defense supply chain, from electronics and propulsion to munitions, space systems and critical materials, using VistaShares’ Bill of Materials process, then selects and weights the companies contributing to each step. It is actively managed under a rules-based methodology set out in its rule book, rebalanced each June and December, and the Investment Committee may add or remove companies in between.

VistaShares ETFs are actively managed and follow a researched, rules-based methodology designed to provide exposure to the theme an investor is seeking. In AMMO, that theme is the defense supply chain, and the committee draws on advisors with defense manufacturing experience.

In AMMO, the risk management overlay is the Investment Committee’s monitoring of companies across its six defense segments between the June and December rebalances. Defense budgets, contracts and export rules can change with little notice, and if the committee considers it necessary, it may add or remove companies before the next rebalance date. The overlay does not eliminate risk.

Supercycles are long-term trends in which technological advances disrupt existing economic models. AMMO is built around defense procurement and the supply chain of components, subsystems, materials and technologies behind it. See our guide to what a supercycle is in investing.

The defense supercycle is VistaShares’ term for the long-term trend in defense procurement and the supply chain behind it: sensors and electronics, aircraft, naval and missile systems, defense space systems, ground vehicles and critical materials. VistaShares calls it a supercycle because it views advances in defense technology as disrupting existing economic models. AMMO seeks Pure Exposure™ to that value chain.

VistaShares analyzes each target industry’s supply chain to identify the companies and profit pools in each sub-industry segment that have significant economic exposure to the theme. For AMMO, that means looking past the finished aircraft, ship or missile to the suppliers of its electronics, propulsion, energetics, materials and subsystems.

The Bill of Materials process is how VistaShares identifies and weights the companies contributing to each step in the production process that leads to a final product. For AMMO, the final products are defense platforms, so the process traces the components inside them, from seekers and rocket motors to armor and rare earth elements, and the companies that supply each.

The Defense Supercycle Bill of Materials has six sections: sensors, electronics and communications; military aircraft propulsion and mission systems; naval propulsion and combat systems; guided missile components, energetics and ammunition; defense space systems; and ground vehicle systems, critical materials and industrial base capacity.

Yes. AMMO’s first Bill of Materials section covers sensors, electronic warfare systems, tactical communications, satellite communications terminals, compute and microelectronics, test and interconnect equipment, and power and energy systems used in defense applications.

AMMO includes military aerospace as one of its six sections: aircraft propulsion systems, actuation and flight controls, avionics and mission systems, aerospace structures and advanced materials supplied to military aircraft and rotorcraft programs. It focuses on the defense supply chain rather than commercial aerospace. For space infrastructure, VistaShares offers GALX.

Yes. AMMO’s naval section covers naval propulsion and power systems, shipboard sensors and communications, hull materials and fabrication, and combat systems integration for military surface and subsurface vessels.

AMMO’s Bill of Materials includes guided missile components, such as guidance and seeker systems, solid rocket motors, energetics, warheads and propellants, as well as conventional ammunition, precision bearings and actuation, and missile electronics and test equipment. Which specific companies the fund holds at any time is shown in the holdings list on the fund page.

Yes. Defense space systems form one of AMMO’s six sections, including radiation-hardened electronics, space-qualified computing, and satellite launch and bus subsystems procured under military space programs. This is where AMMO’s theme overlaps with GALX, the VistaShares Space Infrastructure ETF.

Yes. AMMO’s sixth section covers ground vehicle systems, armor, fire control and drivetrain components, along with critical materials and rare earth elements and the industrial base capacity that supports defense procurement under U.S. Department of Defense Title II.

Yes. AMMO can hold defense cybersecurity companies, although cybersecurity is not a separate section of its Bill of Materials. Cybersecurity companies can face rapid technological change, intense competition, security breaches and reputational harm from cyber incidents.

AMMO typically holds between 50 and 70 companies, including prime contractors and suppliers; the number varies as the portfolio is rebalanced. The full holdings list, updated daily, is on the fund page.

AMMO is rebalanced semi-annually, in June and December. Between those dates, the Investment Committee may add or remove defense companies through its risk management overlay.

The full methodology is in the VistaShares Defense Supercycle® ETF (AMMO) rule book, linked from the AMMO fund page. Its prospectus, summary prospectus, SAI and shareholder reports are linked there too.

Yes. AMMO, the VistaShares Defense Supercycle® ETF, is a defense ETF holding global companies across six segments of the defense supply chain, from electronics to aircraft, naval, missile, space and ground vehicle systems. It seeks long term capital appreciation. Other defense ETFs take different approaches, so compare objectives, holdings, fees and risks with a financial advisor. See our guide to the defense supply chain.

Yes. AMMO is positioned as a defense infrastructure ETF: it focuses on the components, subsystems, materials and industrial base capacity that defense programs depend on, rather than on one type of weapon system. It trades under the ticker AMMO.

Yes. AMMO holds prime defense contractors as well as the companies that supply them with components, subsystems, materials and enabling technologies for military aircraft, ships, missiles, space systems and ground vehicles. The full holdings list, updated daily, is on the AMMO fund page.

Yes. AMMO invests across the global defense supply chain, so its portfolio can include companies listed outside the United States as well as U.S. Department of Defense suppliers. Those companies are subject to foreign securities risk and, like all defense companies, to export controls, sanctions and limits on transferring sensitive technologies.

No. AMMO invests across the global defense supply chain, which includes U.S. Department of Defense procurement but is not limited to it. Its holdings can include non-US companies, prime contractors and suppliers of components, materials and enabling technologies.

A few large defense stocks concentrate results in those companies and the programs they win. AMMO holds a portfolio of prime contractors and suppliers across six segments, from electronics and energetics to rare earth elements, weighted by their contribution to each step. It is still concentrated in one industry and exposed to government budgets.

VistaShares does not rank ETFs, and no single fund suits every investor. AMMO is an actively managed defense infrastructure ETF that weights global supply chain companies across six segments through a Bill of Materials process, rebalanced semi-annually. Compare objectives, holdings, fees and risks with a financial advisor. See our guide to how to evaluate a thematic ETF.

AMMO differs from broad thematic funds mainly in how it selects companies. It maps the defense supply chain into six segments through its Bill of Materials, reaching component, materials and subsystem suppliers, identifies companies with significant economic exposure to each, and weights them by contribution. Its committee is advised by operators from defense manufacturing and military space.

AMMO invests across the defense supply chain. GALX, the Space Infrastructure ETF, invests in the commercial and government space economy, and RTOO, the Robotics Infrastructure ETF, invests across robotics. The themes touch at the edges: AMMO’s defense space section relates to GALX, and RTOO includes defense robotics. Each fund has its own Bill of Materials.

AMMO is designed to give investors access to companies that supply components, subsystems, materials and enabling technologies to the defense procurement supply chain. Through an actively managed process guided by a rules-based methodology, it seeks Pure Exposure™ to that value chain. This describes the fund’s design, not a forecast; defense spending changes with budgets and policy. Investments involve risk, including possible loss of principal.

AMMO is listed on the New York Stock Exchange (NYSE) under the ticker AMMO. It has traded since July 15, 2026, when it launched alongside GALX and RTOO.

AMMO’s CUSIP is 45259A167. The fund launched on July 15, 2026.

Investors can buy or sell AMMO through a brokerage account, or through a financial advisor, by entering the ticker AMMO during market hours; the minimum is one share. Trades occur at market price rather than net asset value, so the price paid may be higher or lower than the value of the holdings, and brokerage commissions may apply. AMMO’s holdings and performance, with their as-of dates, are on the fund page. For fund information, call (844) 875-2288.

AMMO’s expense ratio is 0.75%, as stated on the fund page on November 12, 2026. The cost is deducted from fund assets over the year and shows up in returns rather than as a separate bill.

AMMO’s distribution frequency is annual. The fund seeks long term capital appreciation from defense supply chain companies rather than income. Any distribution amounts and dates are on the fund page.

AMMO’s main risks are defense investing risks, concentration risk and foreign securities risk. It also carries IPO risk, equity market risk and economic and market risk, and as a new fund from a recently formed firm it has no extensive track record. Investments involve risk, including possible loss of principal.

Defense companies depend heavily on government contracts, which may be modified, curtailed or terminated, sometimes with little notice. Changes in spending priorities, budget constraints or procurement policy can reduce their revenues. Investments involve risk, including possible loss of principal.

Defense companies are subject to changing geopolitical conditions, including global tensions and military conflicts, and to export controls, sanctions and restrictions on selling or transferring sensitive technologies. These can open or close markets and change demand. Investments involve risk, including possible loss of principal.

Aerospace and defense technology firms face high research and development costs, long production cycles, supply chain disruptions and regulatory oversight of national security, classified programs and export-controlled materials. Delays or cost increases on a program can affect results. Investments involve risk, including possible loss of principal.

AMMO holds many companies, but it concentrates in the defense industry, so economic, political or other conditions that hurt defense companies can affect the fund more than a fund invested across many industries. Investments involve risk, including possible loss of principal.

AMMO may buy shares of defense supply chain companies offered in an initial public offering. Newly public shares can swing widely in value because they have no trading history, few shares may trade and information may be limited; while AMMO’s assets are small, an IPO can have an outsized effect on fund performance. Investments involve risk, including possible loss of principal.

Yes. AMMO launched on July 15, 2026, the same day as GALX and RTOO, so it does not have an extensive track record for investors to evaluate. VistaShares is a recently formed firm with limited ETF management experience, which may limit its effectiveness. Investments involve risk, including possible loss of principal.

AMMO is designed to seek long term capital appreciation by investing in global companies across the defense supply chain, as a thematic allocation alongside core equity holdings. It carries defense investing risks, including dependence on government budgets and contracts, industry concentration risk and foreign securities risk. Whether AMMO is appropriate depends on your objectives and circumstances; discuss it with your financial advisor and read the prospectus.