Data as of .
FOWF vs KDEF: which is really different?
FOWF and KDEF hold 0% of their weight in the same names, and FOWF returned more over the year.
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, FOWF and KDEF hold 0% of their money in the same securities at the same weight.
| Only in FOWF | Only in KDEF |
|---|---|
| General Dynamics Corp 7.55% | HANWHA AEROSPACE CO LTD 18.69% |
| Boeing Co/The 7.51% | HYUNDAI ROTEM COMPANY 17.07% |
| RTX Corp 6.76% | LIG DEFENSE & AEROSPACE CO LTD 5.87% |
| Lockheed Martin Corp 6.39% | HD HYUNDAI HEAVY INDUSTRIES CO LTD 4.79% |
| Northrop Grumman Corp 5.58% | KOREA AEROSPACE INDUSTRIES LTD 4.58% |
| BAE Systems PLC 3.98% | FIRSTEC COMPANY LTD 4.53% |
| L3Harris Technologies Inc 3.24% | POONGSAN CORP 4.14% |
| Dell Technologies Inc 2.10% | 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 Apr 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FOWF | KDEF | FOWF | KDEF | FOWF | KDEF | |
| 3 months | +2.2% | −11.8% | −0.1 pts | −14.1 pts | +4.7 pts | −9.3 pts |
| 6 months | +5.6% | −18.0% | −12.4 pts | −36.0 pts | −18.6 pts | −42.2 pts |
| 1 year | +12.7% | −8.0% | −3.9 pts | −24.5 pts | −9.1 pts | −29.7 pts |
| Since launch | +43.5% | +113.7% | +10.6 pts | +85.1 pts | +2.6 pts | +75.7 pts |
| FOWF Pacer Solactive Whitney Future of Warfare ETF Holds 86 stocks in defense, 74% 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 | Pacer | PLUS |
| Theme | Defense | Defense |
| In the S&P 500 | 73.5% | 0.0% |
| Active share vs the S&P 500 | 88.4% | 100.0% |
| In the Nasdaq-100 | 13.7% | 0.0% |
| Holdings | 86 | 20 |
| Top ten, share of the fund | 46.9% | 71.4% |
| Expense ratio | 0.49% | 0.65% |
| Fee for the differing part | 0.55% | 0.65% |
| Total return, 1 year | +12.7% | −8.0% |
| vs the S&P 500 | −3.9 pts | −24.5 pts |
| vs the Nasdaq-100 | −9.1 pts | −29.7 pts |
| Below its high | −8.4% | −34.6% |
| Net assets | $15m | $157m |
FOWF in plain words
By weight, 74% of FOWF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 88%. The top ten holdings are 47% of the fund across 86 positions, as filed for Apr 30, 2026. Over the year to Sep 18, 2026 the fund returned +12.7% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 3.9 pts. It sits 8.4% 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 FOWF 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, FOWF or KDEF?
- FOWF has 74% of its weight in S&P 500 names and KDEF has 0%, so KDEF differs more from the index.
- Which is cheaper, FOWF or KDEF?
- FOWF charges 0.49% a year and KDEF charges 0.65%, so FOWF 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, FOWF against KDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fowf-vs-kdef Free to use with attribution; the underlying files are at Open data.