Aerospace and defense
Thesis
Defense is in a structural up-cycle. The FY2027 request is $1.5T, a $1.15T base plus a $350B supplemental, NATO allies pledged 5% of GDP by 2035, and primes hold record backlogs.
Risks
The request depends on Congress, so it may fall short. Backlogs may not convert to peak revenue until 2030 or later. Primes rely on one customer, and UBS prefers diversified munitions and subcomponent suppliers over pure primes. Figures as of November 2026.
| Asset | Underlying | Instrument | Role | Side | Weight | 24h price | On the book | |
|---|---|---|---|---|---|---|---|---|
GE GE Robinhood | General Electric GE · sector n/a ITA20.1% | B- Tokenized equity | core | Long | 20.00% | ▲+1.61% | +0.32% | |
RTX RTXon Ondo Global Markets | RTX Corporation RTX · sector n/a ITA17.1% | B+ Tokenized equity | core | Long | 17.00% | ▲+0.55% | +0.09% | |
ITA ITAon Ondo Global Markets | iShares U.S. Aerospace & Defense ETF ITA · sector n/a | B+ Tokenized fund | access path | Long | 9.00% | ▲+1.10% | +0.10% | |
BA BA Robinhood | Boeing Company BA · sector n/a ITA6.8% | B- Tokenized equity | core | Long | 8.00% | ▼-0.51% | -0.04% | |
LMT LMT Robinhood | Lockheed Martin Corp. LMT · sector n/a ITA5.7% | B- Tokenized equity | core | Long | 6.00% | ▲+0.04% | +0.00% | |
NOC NOCon Ondo Global Markets | Northrop Grumman Corp. NOC · sector n/a ITA5.1% | B+ Tokenized equity | core | Long | 5.00% | ▼-0.78% | -0.04% | |
GD GDon Ondo Global Markets | General Dynamics Corporation GD · sector n/a ITA4.8% | B+ Tokenized equity | core | Long | 5.00% | ▲+0.09% | +0.00% | |
 TDGx Backed Assets (xStocks) | TransDigm Group Incorporated TDG · sector n/a ITA4.8% | B- Tokenized equity | core | Long | 5.00% | ▼-0.75% | -0.04% | |
HONA HONA Dinari | Honeywell Aerospace Inc. HONA · sector n/a ITA4.2% | B Tokenized equity | core | Long | 4.00% | ▲+1.05% | +0.04% | |
HWM HWM Robinhood | Howmet Aerospace Inc. HWM · sector n/a ITA3.9% | B- Tokenized equity | picks and shovels | Long | 4.00% | ▲+5.51% | +0.22% | |
LHX LHX Robinhood | L3Harris Technologies, Inc. LHX · sector n/a ITA3.8% | B- Tokenized equity | core | Long | 4.00% | ▼-0.10% | -0.00% | |
AXON AXON Robinhood | Axon Enterprise, Inc. AXON · sector n/a ITA2.7% | B- Tokenized equity | core | Long | 3.00% | ▼-1.61% | -0.05% | |
RKLB RKLB Robinhood | Rocket Lab Corporation RKLB · sector n/a ITA2.5% | B- Tokenized equity | speculative | Long | 2.00% | ▲+4.13% | +0.08% | |
 ATIx Backed Assets (xStocks) | ATI ATI · sector n/a ITA1.8% | B- Tokenized equity | picks and shovels | Long | 2.00% | ▲+5.21% | +0.10% | |
 WWDx Backed Assets (xStocks) | Woodward WWD · sector n/a ITA1.4% | B- Tokenized equity | picks and shovels | Long | 1.00% | ▲+4.70% | +0.05% | |
 CWx Backed Assets (xStocks) | Curtiss-Wright CW · sector n/a ITA1.4% | B- Tokenized equity | picks and shovels | Long | 1.00% | ▲+3.28% | +0.03% | |
 HEIx Backed Assets (xStocks) | Heico HEI · sector n/a ITA1.4% | B- Tokenized equity | picks and shovels | Long | 1.00% | ▼-0.06% | -0.00% | |
 FTAIx Backed Assets (xStocks) | FTAI Aviation FTAI · sector n/a ITA1.3% | B- Tokenized equity | core | Long | 1.00% | ▲+1.91% | +0.02% | |
 CRSx Backed Assets (xStocks) | Carpenter Technology CRS · sector n/a ITA1.1% | B- Tokenized equity | picks and shovels | Long | 1.00% | ▲+2.30% | +0.02% | |
 TXTx Backed Assets (xStocks) | Textron, Inc. TXT · sector n/a ITA1.0% | B- Tokenized equity | core | Long | 1.00% | ▼-1.00% | -0.01% |
iShares U.S. Aerospace & Defense ETF
15 constituents we could add · 15 not in the registry · 0 unresolved keys