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GCADvsHWAYETF Comparison

ETF 1

GCAD

Gabelli Commercial Aerospace & Defense ETF

This fund is part of

US Large Cap

+0.9%

Full GCAD fund page

VS

ETF 2

HWAY

Themes US Infrastructure ETF

This fund is part of

Infrastructure

-0.27%

Full HWAY fund page

Gabelli Commercial Aerospace & Defense ETF (GCAD) belongs to the US Large Cap segment. Themes US Infrastructure ETF (HWAY) is part of the Infrastructure segment. GCAD's top 3 sector exposures are Industrials, Materials and Communication Services. In contrast, HWAY's top sector exposures are Industrials, Materials and Consumer Discretionary. GCAD is more expensive with a Total Expense Ratio (TER) of 0.9%, versus 0.29% for HWAY. GCAD is up 10.3% year-to-date (YTD) with +$12M in YTD flows. HWAY performs better with 18.88% YTD performance, and +$689K in YTD flows. Run a side-by-side ETF comparison of GCAD and HWAY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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GCAD vs HWAY performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/23/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	GCAD HWAY	+1.51%+10.62%	-3.30%+10.15%	+10.30%+18.88%	+55.77%+50.86%	+114.88%n/a	n/an/a
Flows	GCAD HWAY	+$794K-	+$10M+$359K	+$12M+$689K	+$16M+$1M	+$19M-	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	GCAD HWAY	+24.32%+24.50%	+18.08%+18.97%	+18.18%n/a	n/an/a
Max drawdown	GCAD HWAY	-14.81%-12.66%	-14.81%-12.66%	-16.22%n/a	n/an/a
Max drawdown duration	GCAD HWAY	52d59d	52d59d	91dn/a	n/an/a

Trading data

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	GCAD	HWAY
Last sale 4/24/2026 at 1:30 PM	$50.34	$36.78
Previous close 04/24/2026	$51.10	$37.04
Consolidated volume 04/24/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

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GCAD

is actively managed and doesn’t replicate an index

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	GCAD	HWAY
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/24/2026 at 1:30 PM

Live

Closed

	GCAD	HWAY
Last price	$50.34	$36.78
1D performance	-1.49%	-0.69%
AuM	$28.12 M	$2.94 M
E/R	0.9%	0.29%

Characteristics

	GCAD	HWAY
Management strategy	Active	Passive
Provider	Gabelli Funds	Themes Management Company
Benchmark	-	Solactive United States Infrastructure Index
N° of holdings	38	93
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	January 3, 2023	September 12, 2024
ESG	No	No

More GCAD data on Trackinsight

More HWAY data on Trackinsight

Exposure

Countries

GCAD

USA

87.87%

Other

12.13%

HWAY

USA

95.9%

Other

4.1%

Sectors

GCAD

Industrials

85.62%

Other

14.38%

HWAY

Industrials

77.46%

Materials

17.56%

Other

4.98%

Diversification

GCAD

Total weight of top 15 holdings out of 15

63.19%

HWAY

Total weight of top 15 holdings out of 15

58.66%

Top 15 holdings

Data as of March 31, 2026

GCAD

ALBANY INTERNATIONAL

5.94%

BOEING U

5.92%

LOCKHEED MARTIN

5.83%

NORTHROP GRUMMAN

5.79%

MOOG

5.30%

HEXCEL

4.58%

TEXTRON

4.58%

HONEYWELL INTL

4.21%

DUCOMMUN

3.86%

L3 HARRIS TECHNOLOGIES

3.60%

MERCURY SYSTEMS INC

2.90%

GENERAL DYNAMICS

2.87%

HOWMET AEROSPACE INC

2.77%

CURTISS WRIGHT

2.72%

ASTRONICS

2.33%

HWAY

CATERPILLAR

5.75%

DEERE

5.25%

PARKER HANNIFIN

4.96%

QUANTA SERVICES

4.91%

CSX

4.67%

UNION PACIFIC U

4.45%

NORFOLK SOUTHERN

4.14%

EMERSON ELECTRIC

4.06%

CRH PLC

3.74%

FASTENAL

3.26%

UNITED RENTALS

2.91%

WW GRAINGER

2.90%

COMFORT SYSTEMS USA

2.79%

WABTEC

2.54%

NUCOR

2.33%

Frequently asked questions about GCAD and HWAY

How have the GCAD and HWAY ETFs performed in 2026?

As of April 23, 2026, GCAD is up 10.3% year-to-date (YTD), while HWAY has returned 18.88%. That puts HWAY better performer ahead so far this year.

Which ETF is attracting more investor money: GCAD or HWAY?

Year-to-date, the GCAD ETF saw +$12M in flows, compared to +$689K for HWAY.

Which ETF is more volatile: GCAD or HWAY?

Over the past year, GCAD had a volatility of 18.08%, while HWAY experienced 18.97%.

Which ETF is bigger: GCAD or HWAY?

As of April 23, 2026, GCAD holds $28.12 M in assets under management (AUM), while HWAY manages $2.94 M.

What sectors do the GCAD and HWAY ETFs invest in?

GCAD leans toward sectors like Industrials. Meanwhile, HWAY focuses on Industrials and Materials.

What are the top holdings of the GCAD ETF and HWAY ETF?

GCAD top holdings include ALBANY INTERNATIONAL, BOEING U and LOCKHEED MARTIN. HWAY holds in its top three: CATERPILLAR, DEERE and PARKER HANNIFIN.

Which ETF is more diversified: GCAD or HWAY?

GCAD holds 40 securities with 63.19% of its assets in the top 15. HWAY has 98 securities and a top 15 weight of 58.66%.

Tony's ETF Buyers Guide: Aerospace & Defense ETFs

January 15, 2024

GCAD

Israel-Hamas War, Part 1: Implications for Aerospace & Defense ETFs

November 2, 2023

GCAD

GCADvsHWAYETF Comparison

Gabelli Commercial Aerospace & Defense ETF

Themes US Infrastructure ETF

GCAD vs HWAY performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the GCAD and HWAY ETFs performed in 2026?

As of April 23, 2026, GCAD is up 10.3% year-to-date (YTD), while HWAY has returned 18.88%. That puts HWAY better performer ahead so far this year.

Which ETF is attracting more investor money: GCAD or HWAY?

Year-to-date, the GCAD ETF saw +$12M in flows, compared to +$689K for HWAY.

Which ETF is more volatile: GCAD or HWAY?

Over the past year, GCAD had a volatility of 18.08%, while HWAY experienced 18.97%.

Which ETF is bigger: GCAD or HWAY?

As of April 23, 2026, GCAD holds $28.12 M in assets under management (AUM), while HWAY manages $2.94 M.

What sectors do the GCAD and HWAY ETFs invest in?

GCAD leans toward sectors like Industrials. Meanwhile, HWAY focuses on Industrials and Materials.

What are the top holdings of the GCAD ETF and HWAY ETF?

GCAD top holdings include ALBANY INTERNATIONAL, BOEING U and LOCKHEED MARTIN. HWAY holds in its top three: CATERPILLAR, DEERE and PARKER HANNIFIN.

Which ETF is more diversified: GCAD or HWAY?

GCAD holds 40 securities with 63.19% of its assets in the top 15. HWAY has 98 securities and a top 15 weight of 58.66%.

Tony's ETF Buyers Guide: Aerospace & Defense ETFs

Israel-Hamas War, Part 1: Implications for Aerospace & Defense ETFs

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