Data as of .
GCAD vs KDEF: which is really different?
GCAD and KDEF hold 0% of their weight in the same names, and GCAD 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, GCAD and KDEF hold 0% of their money in the same securities at the same weight.
| Only in GCAD | Only in KDEF |
|---|---|
| ALBANY INTERNATIONAL CORP 6.84% | HANWHA AEROSPACE CO LTD 18.69% |
| MOOG INC 6.20% | HYUNDAI ROTEM COMPANY 17.07% |
| BOEING COMPANY (THE) 5.20% | LIG DEFENSE & AEROSPACE CO LTD 5.87% |
| DUCOMMUN INC 4.74% | HD HYUNDAI HEAVY INDUSTRIES CO LTD 4.79% |
| HEXCEL CORP 4.58% | KOREA AEROSPACE INDUSTRIES LTD 4.58% |
| RTX CORP 4.14% | FIRSTEC COMPANY LTD 4.53% |
| L3HARRIS TECHNOLOGIES INC 4.01% | POONGSAN CORP 4.14% |
| LOCKHEED MARTIN CORP 3.98% | 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 Jun 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| GCAD | KDEF | GCAD | KDEF | GCAD | KDEF | |
| 3 months | −11.3% | −11.8% | −13.5 pts | −14.1 pts | −8.8 pts | −9.3 pts |
| 6 months | −0.8% | −18.0% | −18.8 pts | −36.0 pts | −25.0 pts | −42.2 pts |
| 1 year | +14.2% | −8.0% | −2.4 pts | −24.5 pts | −7.6 pts | −29.7 pts |
| 3 years | +120.8% | not published | +42.4 pts | not published | +22.6 pts | not published |
| Since launch | +121.0% | +113.7% | +12.9 pts | +85.1 pts | −56.0 pts | +75.7 pts |
| GCAD Gabelli Commercial Aerospace and Defense ETF Holds 54 stocks in defense, 40% 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 | Gabelli | PLUS |
| Theme | Defense | Defense |
| In the S&P 500 | 40.2% | 0.0% |
| Active share vs the S&P 500 | 97.2% | 100.0% |
| In the Nasdaq-100 | 2.5% | 0.0% |
| Holdings | 54 | 20 |
| Top ten, share of the fund | 47.5% | 71.4% |
| Expense ratio | 0.90% | 0.65% |
| Fee for the differing part | 0.93% | 0.65% |
| Total return, 1 year | +14.2% | −8.0% |
| vs the S&P 500 | −2.4 pts | −24.5 pts |
| vs the Nasdaq-100 | −7.6 pts | −29.7 pts |
| Below its high | −14.2% | −34.6% |
| Net assets | $44m | $157m |
GCAD in plain words
By weight, 40% of GCAD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 48% of the fund across 54 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +14.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 2.4 pts. It sits 14.2% 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 GCAD 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, GCAD or KDEF?
- GCAD has 40% of its weight in S&P 500 names and KDEF has 0%, so KDEF differs more from the index.
- Which is cheaper, GCAD or KDEF?
- GCAD charges 0.90% 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, GCAD against KDEF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/gcad-vs-kdef Free to use with attribution; the underlying files are at Open data.