Do AMMO and KDEF hold the same stocks?

By their latest filings, 5% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, AMMO or KDEF?

AMMO has 17% of its weight in S&P 500 names and KDEF has 0%, so KDEF differs more from the index.

Which is cheaper, AMMO or KDEF?

AMMO charges 0.75% a year and KDEF charges 0.65%, so KDEF is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

AMMO vs KDEF: Holdings Overlap & Returns

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AMMO and KDEF hold 5% of their weight in the same names.

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Net assets: $2.4m on Nov 4, 2026 for VistaShares Defense Supercycle ETF, and $113m on Aug 31, 2026 for PLUS Korea Defense Industry Index ETF.

AMMO on its own →KDEF on its own →

At a glance

17.4%

AMMO in the S&P 500

0.0%

KDEF in the S&P 500

−10.6%

AMMO total return, since launch, Jul 16, 2026

−28.3%

KDEF total return, 1 year

AMMO · 3 months to Nov 4, 2026 83% of its weight is outside the S&P 500

17% of AMMO's weight is in S&P 500 companies and 83% is outside the index. Holdings as of Nov 4, 2026.

KDEF · 1 year to Nov 4, 2026 100% of its weight is outside the S&P 500

0% of KDEF's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

KDEF costs 0.10 points a year less.

AMMO vs KDEF: Holdings Overlap & Returns
Measure	AMMO	KDEF
Return
Measure	AMMO	KDEF
Total return, 1 year	not published	−28.3%
Drawdown
Measure	AMMO	KDEF
Below its all-time high	23.7%, high on Aug 14, 2026	50.7%, high on May 5, 2026
Benchmark
Measure	AMMO	KDEF
What it tracks	Defense	Defense
Cost and size
Measure	AMMO	KDEF
Expense ratio	0.75%	0.65%
Net assets, AMMO as of Nov 4, 2026 and KDEF as of Aug 31, 2026	$2.4m	$113m
Holdings
Measure	AMMO	KDEF
Holdings in common	5%

Method

What they share

By the books each fund has filed, AMMO and KDEF hold 5% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 4, 2026.

50%

0 half 100%

half

5% in common

Positions both hold · largest shared weight first AMMO KDEF

LIG Defense&Aerospace Co Ltd 3.12% 6.67%

Hanwha Systems Co Ltd 1.33% 2.31%

Poongsan Corp 0.70% 6.04%

Only in one fund ↓

Only in AMMO

Mildef Group AB 4.50%

Rheinmetall AG 4.09%

Kitron ASA 3.66%

Palantir Technologies Inc 3.42%

Cohort PLC 3.37%

Chemring Group PLC 3.20%

L3Harris Technologies Inc 2.94%

TransDigm Group Inc 2.76%

Only in KDEF

HANWHA AEROSPACE CO LTD 23.38%

HYUNDAI ROTEM COMPANY 7.63%

KOREA AEROSPACE INDUSTRIES LTD 6.71%

SK OCEANPLANT CO LTD 4.33%

SNT MOTIV CO LTD 4.25%

SNT DYNAMICS CO LTD 3.94%

SAMHYUN CO LTD 3.71%

SATREC INITIATIVE CO LTD 3.71%

Check overlap with more funds →

Window by window

Window by window: AMMO vs KDEF: Holdings Overlap & Returns
	Total return
Window	AMMO	KDEF
3 months	−19.6%	−22.9%
6 months	–	−49.1%
1 year	–	−28.3%
Since launchNot the same days: AMMO Jul 2026 · KDEF Feb 2025	−10.6%	+60.9%

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Side by side

AMMO VistaShares Defense Supercycle ETF · Holds 53 stocks in defense, 17% of its weight in S&P 500 companies KDEF PLUS Korea Defense Industry Index ETF · Holds 20 stocks in defense, 0% of its weight in S&P 500 companies

Issuer VistaShares PLUS

Theme Defense Defense

In the S&P 500 17.4% 0.0%

Active share vs the S&P 500 98.6% 100.0%

In the Nasdaq-100 4.9% 0.0%

Holdings 53 20

Top ten, share of the fund 33.8% 70.4%

Expense ratio 0.75% 0.65%

Fee for the differing part 0.76% 0.65%

Total return, 1 year −10.6% (since launch, Jul 16, 2026) −28.3%

vs its benchmark not measured not measured

Below its high −23.7% −50.7%

Net assets, AMMO as of Nov 4, 2026 and KDEF as of Aug 31, 2026 $2.4m $113m

As of Nov 4, 2026. Source: ETFIQ.

5% of the two portfolios are the same securities at the same weight.

Alert

About each fund

AMMO

By weight, 17% of AMMO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 34% of the fund across 53 positions, as published by its issuer for Nov 4, 2026. Since it first traded on Jul 16, 2026 the fund returned −10.6% with distributions reinvested. It sits 23.7% below its all-time high of Aug 14, 2026.

KDEF

By weight, 0% of KDEF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 70% of the fund across 20 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned −28.3% with distributions reinvested. It sits 50.7% below its all-time high of May 5, 2026.

Questions people ask

Do AMMO and KDEF hold the same stocks?: By their latest filings, 5% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, AMMO or KDEF?: AMMO has 17% of its weight in S&P 500 names and KDEF has 0%, so KDEF differs more from the index.
Which is cheaper, AMMO or KDEF?: AMMO charges 0.75% a year and KDEF charges 0.65%, so KDEF is cheaper. Fees come from each fund's prospectus.

Other comparisons

AMMO vs NATO AMMO vs WDEF AMMO vs GCAD AMMO vs WAR KDEF vs DUTY KDEF vs XDEF KDEF vs WDGF KDEF vs WR

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AMMO on its own →KDEF on its own →AMMO holdings →KDEF dividend history →KDEF holdings →Method →Standards and sources →

Sources and dates

AMMO filings on SEC EDGAR ↗

AMMO prospectus with the expense ratio (SEC) ↗

VistaShares page for AMMO ↗

KDEF filings on SEC EDGAR ↗

KDEF prospectus with the expense ratio (SEC) ↗

PLUS website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, AMMO against KDEF, data as of Nov 4, 2026. https://etfiq.com/compare/themes/ammo-vs-kdef

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.