Data as of .
ARMY vs KDEF: which is really different?
ARMY and KDEF hold 0% of their weight in the same names.
ETFIQ Off-Index Score: KDEF scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
0% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, ARMY and KDEF hold 0% of their money in the same securities at the same weight.
| Only in ARMY | Only in KDEF |
|---|---|
| ANDURIL SPV EXPOSURE 14.63% | HANWHA AEROSPACE CO LTD 18.69% |
| ELBIT SYSTEMS LTD 3.88% | HYUNDAI ROTEM COMPANY 17.07% |
| KONGSBERG GRUPPEN ASA 3.69% | LIG DEFENSE & AEROSPACE CO LTD 5.87% |
| ROCKET LAB CORP 3.67% | HD HYUNDAI HEAVY INDUSTRIES CO LTD 4.79% |
| DASSAULT AVIATION SA 3.66% | KOREA AEROSPACE INDUSTRIES LTD 4.58% |
| INDRA SISTEMAS SA 3.65% | FIRSTEC COMPANY LTD 4.53% |
| BAE SYSTEMS PLC 3.58% | POONGSAN CORP 4.14% |
| QINETIQ GROUP PLC 3.55% | HANWHA SYSTEMS CO LTD 4.12% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ARMY | KDEF | ARMY | KDEF | ARMY | KDEF | |
| 3 months | −2.2% | −11.8% | −4.4 pts | −14.1 pts | +0.3 pts | −9.3 pts |
| 6 months | not published | −18.0% | not published | −36.0 pts | not published | −42.2 pts |
| 1 year | not published | −8.0% | not published | −24.5 pts | not published | −29.7 pts |
| Since launch | −6.1% | +113.7% | −23.8 pts | +85.1 pts | −31.2 pts | +75.7 pts |
| ARMY Tema International Defense ETF Holds 34 stocks in defense, 11% 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 | Tema | PLUS |
| Theme | Defense | Defense |
| In the S&P 500 | 11.1% | 0.0% |
| Active share vs the S&P 500 | 98.4% | 100.0% |
| In the Nasdaq-100 | 2.9% | 0.0% |
| Holdings | 34 | 20 |
| Top ten, share of the fund | 47.4% | 71.4% |
| Expense ratio | 0.68% | 0.65% |
| Fee for the differing part | 0.69% | 0.65% |
| Total return, 1 year | −6.1% (since launch on Mar 31, 2026) | −8.0% |
| vs the S&P 500 | −23.8 pts | −24.5 pts |
| vs the Nasdaq-100 | −31.2 pts | −29.7 pts |
| Below its high | −14.6% | −34.6% |
| Net assets | $7m | $157m |
ARMY in plain words
By weight, 11% of ARMY's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 47% of the fund across 34 positions, as published by its issuer for Sep 18, 2026. Since it launched on Mar 31, 2026 the fund returned −6.1% with distributions reinvested against +17.7% for the S&P 500, so a holder was behind by 23.8 pts. It sits 14.6% below its all-time high of Aug 14, 2026.
KDEF in plain words
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 71% of the fund across 20 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned −8.0% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 24.5 pts. It sits 34.6% below its all-time high of May 5, 2026.
Questions people ask
- Do ARMY and KDEF hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, ARMY or KDEF?
- ARMY has 11% of its weight in S&P 500 names and KDEF has 0%, so KDEF differs more from the index.
- Which is cheaper, ARMY or KDEF?
- ARMY charges 0.68% a year and KDEF charges 0.65%, so KDEF is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, ARMY against KDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/army-vs-kdef Free to use with attribution; the underlying files are at Open data.