Do EUAD and KDEF hold the same stocks?

By their latest filings, 0% 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, EUAD or KDEF?

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

Which is cheaper, EUAD or KDEF?

EUAD charges 0.50% a year and KDEF charges 0.65%, so EUAD is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

EUAD vs KDEF: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, EUAD returned −8.0% to KDEF's −28.3%; 0% of their weight is in the same names.

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Net assets on Aug 31, 2026: $1.1bn for Select STOXX Europe Aerospace & Defense ETF and $113m for PLUS Korea Defense Industry Index ETF.

EUAD on its own →KDEF on its own →

At a glance

0.0%

EUAD in the S&P 500

0.0%

KDEF in the S&P 500

−8.0%

EUAD total return, 1 year

−28.3%

KDEF total return, 1 year

EUAD · 1 year to Nov 4, 2026 13 positions, 28% of its net assets

EUAD holds 13 positions, 28% of its net assets. Holdings as of Aug 31, 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

EUAD costs 0.15 points a year less; their one-year returns differ by 20.3 points; EUAD is 9.7 times larger.

EUAD vs KDEF: Holdings Overlap & Returns
Measure	EUAD	KDEF
Return
Measure	EUAD	KDEF
Total return, 1 year	−8.0%	−28.3%
Drawdown
Measure	EUAD	KDEF
Below its all-time high	16.7%, high on Jan 13, 2026	50.7%, high on May 5, 2026
Benchmark
Measure	EUAD	KDEF
What it tracks	Defense	Defense
Cost and size
Measure	EUAD	KDEF
Expense ratio	0.50%	0.65%
Net assets, as of Aug 31, 2026	$1.1bn	$113m
Holdings
Measure	EUAD	KDEF
Holdings in common	0%

Method

Risk and return

Feb 14, 2025 to Oct 30, 2026 · 89 weekly returns

EUAD KDEF

Return

Total return edge EUAD +42.4% +33.5%

Annualized edge EUAD +22.9% +18.4%

Price return edge EUAD +41.8% +25.4%

Risk

Volatility edge EUAD 30.9% 50.9%

Max drawdown edge EUAD −21.4% −51.6%

Risk-adjusted

Sharpe edge EUAD 0.69 0.51

Sortino edge EUAD 1.05 0.74

Calmar edge EUAD 1.07 0.36

Reading

From Feb 2025 to Oct 2026, EUAD returned more: +42.4% to +33.5%. EUAD swung less: 30.9% to 50.9%. EUAD fell less at its worst: −21.4% to −51.6%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: EUAD vs KDEF: Holdings Overlap & Returns
Measure	EUAD	KDEF	Edge	How it is measured
Return
Total return	+42.4%	+33.5%	EUAD	Price change plus distributions, reinvested.
Annualized	+22.9%	+18.4%	EUAD	Total return as a yearly rate.
Price return	+41.8%	+25.4%	EUAD	Price change alone, distributions left out.
Risk
Volatility	30.9%	50.9%	EUAD	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	20.4%	34.7%	EUAD	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−21.4%	−51.6%	EUAD	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.69	0.51	EUAD	Return above Treasury bills per unit of volatility.
Sortino	1.05	0.74	EUAD	Return above Treasury bills per unit of downside deviation.
Calmar	1.07	0.36	EUAD	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 89 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, EUAD and KDEF hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first EUAD KDEF

Only in one fund ↓

Only in EUAD

MTU Aero Engines AG 4.63%

Airbus SE 4.58%

Leonardo SpA 2.82%

Saab AB 2.75%

Thales SA 2.49%

BAE Systems PLC 2.38%

Hensoldt AG 1.77%

Rheinmetall AG 1.72%

Only in KDEF

HANWHA AEROSPACE CO LTD 23.38%

HYUNDAI ROTEM COMPANY 7.63%

KOREA AEROSPACE INDUSTRIES LTD 6.71%

LIG DEFENSE & AEROSPACE CO LTD 6.67%

POONGSAN CORP 6.04%

SK OCEANPLANT CO LTD 4.33%

SNT MOTIV CO LTD 4.25%

SNT DYNAMICS CO LTD 3.94%

Check overlap with more funds →

Window by window

Window by window: EUAD vs KDEF: Holdings Overlap & Returns
	Total return
Window	EUAD	KDEF
3 months	−14.6%	−22.9%
6 months	−7.2%	−49.1%
1 year	−8.0%	−28.3%
Since launchNot the same days: EUAD Oct 2024 · KDEF Feb 2025	+60.5%	+60.9%

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Side by side

EUAD Select STOXX Europe Aerospace & Defense ETF · Holds 13 stocks in defense, 0% 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 Tuttle PLUS

Theme Defense Defense

In the S&P 500 0.0% 0.0%

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

In the Nasdaq-100 0.0% 0.0%

Holdings 13 20

Top ten, share of the fund 25.8% 70.4%

Expense ratio 0.50% 0.65%

Fee for the differing part 0.50% 0.65%

Total return, 1 year −8.0% −28.3%

vs its benchmark not measured not measured

Below its high −16.7% −50.7%

Net assets, as of Aug 31, 2026 $1.1bn $113m

As of Nov 4, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

EUAD

By weight, 0% of EUAD'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 26% of the fund across 13 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned −8.0% with distributions reinvested. It sits 16.7% below its all-time high of Jan 13, 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 EUAD and KDEF hold the same stocks?: By their latest filings, 0% 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, EUAD or KDEF?: EUAD has 0% of its weight in S&P 500 names and KDEF has 0%, so EUAD differs more from the index.
Which is cheaper, EUAD or KDEF?: EUAD charges 0.50% a year and KDEF charges 0.65%, so EUAD is cheaper. Fees come from each fund's prospectus.

Other comparisons

EUAD vs NATO EUAD vs WDEF EUAD vs GCAD EUAD vs WAR KDEF vs MISL KDEF vs XAR KDEF vs SHLD KDEF vs PPA

Where to next

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

Sources and dates

EUAD filings on SEC EDGAR ↗

EUAD prospectus with the expense ratio (SEC) ↗

Tuttle website ↗

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.

Cite this pageCitation, APA and Markdown

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

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