This tracks how US Defense is performing against the S&P 500: the relative-strength read traders use to find themes gaining momentum and the strongest stocks within them. Look for three things: whether it is gaining or losing ground on the index, whether the move is broad or led by a few large names, and which stocks lead on relative strength.
Current read · as at 3 July 2026
US Defense is outperforming the S&P 500 and still gaining ground (the leading zone of the rotation chart). It is up 2.0% over the past month and 4.1% year to date. 9 of 17 stocks are above their 50-day average. On 3-month relative strength, MRCY.US, AXON.US and CW.US lead the theme.
Relative strength is measured against S&P 500, centred at 100. Above 100 means it outpaced the benchmark.
Performance charts
Rebased to 100 vs S&P 500
End of day
US Defense vs S&P 500
Rising = outperforming
100 = matches benchmark. Above = outpacing it; below = lagging.
What's underneath the leaders
End of day
Latest-day drivers
- AVAV.US+10.70%+0.63%
- ESLT.US+5.69%+0.33%
- LDOS.US+5.60%+0.33%
Top 3 account for 36% of the total move.
Contribution is each holding's weight times its one-day move.
Emerging leaders (3-month rank)
- 1MRCY.US+11
- 2AXON.US+15
- 3CW.US+1
- 4GD.US+7
- 5TXT.US+8
Rank 1 = strongest 3-month move. Delta is the rank change; positive means improving.
Breadth and Effective N measure how widely the basket is moving right now — a participation gauge, not a forecast.
Constituents
Weights and contribution to the basket move
AVAV.US | AeroVironment Inc | $190.89 | +10.70% | 5.9% | +0.63% |
AXON.US | Axon Enterprise Inc. | $597.04 | +0.52% | 5.9% | +0.03% |
BWXT.US | BWX Technologies Inc | $191.06 | -0.10% | 5.9% | -0.01% |
CW.US | Curtiss-Wright Corporation | $760.23 | +0.33% | 5.9% | +0.02% |
DRS.US | Leonardo DRS, Inc. Common Stock | $43.72 | +2.41% | 5.9% | +0.14% |
ESLT.US | Elbit Systems Ltd | $803.26 | +5.69% | 5.9% | +0.33% |
GD.US | General Dynamics Corporation | $373.54 | +2.94% | 5.9% | +0.17% |
HII.US | HII | $291.50 | +4.49% | 5.9% | +0.26% |
KRMN.US | KRMN | $56.37 | +2.62% | 5.9% | +0.15% |
KTOS.US | Kratos Defense & Security Solutions | $55.35 | +4.36% | 5.9% | +0.26% |
LDOS.US | LDOS | $108.84 | +5.60% | 5.9% | +0.33% |
LHX.US | L3Harris Technologies Inc | $302.07 | +3.37% | 5.9% | +0.20% |
LMT.US | Lockheed Martin Corporation | $545.91 | +4.62% | 5.9% | +0.27% |
MRCY.US | Mercury Systems Inc | $126.21 | +2.57% | 5.9% | +0.15% |
NOC.US | Northrop Grumman Corporation | $549.01 | +5.59% | 5.9% | +0.33% |
RTX.US | RTX Corporation | $199.25 | +3.90% | 5.9% | +0.23% |
TXT.US | Textron Inc | $92.50 | +0.62% | 5.9% | +0.04% |
AVAV.US
AeroVironment Inc
- Last
- $190.89
- 1D
- +10.70%
- Weight
- 5.9%
- Contribution
- +0.63%
AXON.US
Axon Enterprise Inc.
- Last
- $597.04
- 1D
- +0.52%
- Weight
- 5.9%
- Contribution
- +0.03%
BWXT.US
BWX Technologies Inc
- Last
- $191.06
- 1D
- -0.10%
- Weight
- 5.9%
- Contribution
- -0.01%
CW.US
Curtiss-Wright Corporation
- Last
- $760.23
- 1D
- +0.33%
- Weight
- 5.9%
- Contribution
- +0.02%
DRS.US
Leonardo DRS, Inc. Common Stock
- Last
- $43.72
- 1D
- +2.41%
- Weight
- 5.9%
- Contribution
- +0.14%
ESLT.US
Elbit Systems Ltd
- Last
- $803.26
- 1D
- +5.69%
- Weight
- 5.9%
- Contribution
- +0.33%
GD.US
General Dynamics Corporation
- Last
- $373.54
- 1D
- +2.94%
- Weight
- 5.9%
- Contribution
- +0.17%
HII.US
HII
- Last
- $291.50
- 1D
- +4.49%
- Weight
- 5.9%
- Contribution
- +0.26%
KRMN.US
KRMN
- Last
- $56.37
- 1D
- +2.62%
- Weight
- 5.9%
- Contribution
- +0.15%
KTOS.US
Kratos Defense & Security Solutions
- Last
- $55.35
- 1D
- +4.36%
- Weight
- 5.9%
- Contribution
- +0.26%
LDOS.US
LDOS
- Last
- $108.84
- 1D
- +5.60%
- Weight
- 5.9%
- Contribution
- +0.33%
LHX.US
L3Harris Technologies Inc
- Last
- $302.07
- 1D
- +3.37%
- Weight
- 5.9%
- Contribution
- +0.20%
LMT.US
Lockheed Martin Corporation
- Last
- $545.91
- 1D
- +4.62%
- Weight
- 5.9%
- Contribution
- +0.27%
MRCY.US
Mercury Systems Inc
- Last
- $126.21
- 1D
- +2.57%
- Weight
- 5.9%
- Contribution
- +0.15%
NOC.US
Northrop Grumman Corporation
- Last
- $549.01
- 1D
- +5.59%
- Weight
- 5.9%
- Contribution
- +0.33%
RTX.US
RTX Corporation
- Last
- $199.25
- 1D
- +3.90%
- Weight
- 5.9%
- Contribution
- +0.23%
TXT.US
Textron Inc
- Last
- $92.50
- 1D
- +0.62%
- Weight
- 5.9%
- Contribution
- +0.04%
Last price shown at full precision. Contribution is each holding's weight times its one-day move. A dash marks data pending after the latest end-of-day refresh.
Track US Defense with Swingfolio
Save this basket, get end-of-day updates, set price alerts, and journal your trades.
Create a free accountExplore more baskets
Compare every US sector and theme on the rotation chart and leaderboard.
Back to all US sectorsMethodology
Equal weighted. Equal-weighted basket seeded from US-listed defense and aerospace contractors, screened nightly from end-of-day data. Active US common stocks only, with a market cap of at least USD 500 million and a 90-day average daily value traded of at least USD 2 million, top 20 by market cap. BWXT is also seeded in Uranium & Nuclear.