First Trust Indxx Aerospace & Defense ETF (MISL) Performance
MISL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −4.7% since Dec 31, 2025
- 1 year
- −5.3% total return
- 3 years
- +23.0% a year
- Since first price
- +19.2% a year since 2022
MISL trailing returns vs SPY, QQQ, AGG
| Period | MISL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.5% | −4.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.1% | −6.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −8.6% | −8.6% | +7.8% | +8.4% | −1.5% |
| YTD | −4.7% | −4.7% | +12.3% | +15.1% | −1.0% |
| 1 year | −5.3% | −5.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +86.3%+23.0%/yr | +83.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionOct 26, 2022 | +101.5%+19.2%/yr | +97.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MISL vs SPY
From Oct 26, 2022: MISL grew to $20,152, SPY to $20,953.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MISL returns by calendar year
3 of 3 full years positive. Best 2025 (+41.2%), worst 2023 (+14.8%). 2026 is year to date.
MISL annual returns table
| Year | MISL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −4.7% | −20.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +41.2% | −16.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +20.5% | −10.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +14.8% | −10.2% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MISL largest drawdowns
Now 20.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 16, 2026 | −20.0% | Oct 23, 2026 | not yet | 9 months | 9 months so far |
| Nov 11, 2024 | −17.9% | Apr 4, 2025 | May 15, 2025 | 5 months | 6 months |
| Oct 8, 2025 | −10.5% | Nov 20, 2025 | Dec 23, 2025 | 43 days | 2 months |
| Aug 1, 2023 | −10.2% | Oct 5, 2023 | Nov 13, 2023 | 2 months | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MISL risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +24.8% | +19.0% |
| Volatility (annualized) | 18.6% | 17.7% |
| Sharpe ratio | 1.06 | 0.83 |
| Sortino ratio | 1.91 | 1.47 |
| Best month | +14.3% | +14.3% |
| Worst month | −9.3% | −9.3% |
| Best 12 months | +64.1% | +64.1% |
| Worst 12 months | +0.4% | +0.4% |
| Positive months | 67% | 64% |
| Beta vs S&P 500 | 0.75 | — |
| Correlation with S&P 500 | 0.50 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MISL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 37 | −5.3% | +25.0% | +64.1% | 97% |
| 3-year (a year) | 13 | +22.2% | +26.0% | +32.7% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
MISL performance overview
First Trust Indxx Aerospace & Defense ETF (MISL) returned −5.3% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +19.2% a year, turning $10,000 into about $20,152. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −20.0%, from Jan 16, 2026 to Oct 23, 2026; the fund has not yet regained that high. MISL finished 3 of its 3 full calendar years with a gain; the best year was 2025 (+41.2%) and the worst 2023 (+14.8%). Volatility has been 17.7% a year.
Related: MISL chart, MISL holdings, MISL dividends, MISL valuation. See the MISL overview for the latest quote and fund facts.
MISL performance FAQ
What is the MISL return over the past year?
MISL returned −5.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.4%.
How much would $10,000 invested in MISL be worth?
$10,000 invested in MISL at its first recorded close on October 26, 2022 would be worth about $20,152 on October 23, 2026 with distributions reinvested.
What was the worst year for MISL?
The worst calendar year was 2023, with a total return of +14.8%. The best was 2025 at +41.2%.
What is the biggest drawdown of MISL?
The largest peak-to-trough decline was −20.0% between January 16, 2026 and October 23, 2026. It has not yet recovered to that high; it is 20.0% below its peak.
How volatile is MISL?
Over the past 3 years MISL had an annualized volatility of 18.6% and a Sharpe ratio of 1.06 (excess return over 1–3 month T-bills per unit of risk).