Do GCAD 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, 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 0.10% a year and KDEF charges 0.65%, so GCAD is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

GCAD vs KDEF: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, GCAD returned +9.4% to KDEF's −28.3%; 0% of their weight is in the same names.

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Net assets: $44m on Jun 30, 2026 for Gabelli Commercial Aerospace and Defense ETF, and $113m on Aug 31, 2026 for PLUS Korea Defense Industry Index ETF.

GCAD on its own →KDEF on its own →

At a glance

40.1%

GCAD in the S&P 500

0.0%

KDEF in the S&P 500

+9.4%

GCAD total return, 1 year

−28.3%

KDEF total return, 1 year

GCAD · 1 year to Nov 4, 2026 60% of its weight is outside the S&P 500

40% of GCAD's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Jun 30, 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

GCAD costs 0.55 points a year less; their one-year returns differ by 37.7 points.

GCAD vs KDEF: Holdings Overlap & Returns
Measure	GCAD	KDEF
Return
Measure	GCAD	KDEF
Total return, 1 year	+9.4%	−28.3%
Drawdown
Measure	GCAD	KDEF
Below its all-time high	15.6%, high on Aug 14, 2026	50.7%, high on May 5, 2026
Benchmark
Measure	GCAD	KDEF
What it tracks	Defense	Defense
Cost and size
Measure	GCAD	KDEF
Expense ratio	0.10%	0.65%
Net assets, GCAD as of Jun 30, 2026 and KDEF as of Aug 31, 2026	$44m	$113m
Holdings
Measure	GCAD	KDEF
Holdings in common	0%

Method

What they share

By the books each fund has filed, GCAD and KDEF hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GCAD KDEF

Only in one fund ↓

Only in GCAD

ALBANY INTERNATIONAL CORP 6.84%

MOOG INC 6.20%

BOEING COMPANY (THE) 5.20%

DUCOMMUN INC 4.74%

HEXCEL CORP 4.57%

RTX CORP 4.14%

L3HARRIS TECHNOLOGIES INC 4.01%

LOCKHEED MARTIN CORP 3.97%

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: GCAD vs KDEF: Holdings Overlap & Returns
	Total return
Window	GCAD	KDEF
3 months	−14.0%	−22.9%
6 months	−7.1%	−49.1%
1 year	+9.4%	−28.3%
3 years	+105.6%	–
Since launchNot the same days: GCAD Jan 2023 · KDEF Feb 2025	+117.4%	+60.9%

– means no data for this window. Open this comparison in the app →

Side by side

GCAD Gabelli Commercial Aerospace and Defense ETF · Holds 51 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 40.1% 0.0%

Active share vs the S&P 500 97.2% 100.0%

In the Nasdaq-100 4.4% 0.0%

Holdings 51 20

Top ten, share of the fund 47.5% 70.4%

Expense ratio 0.10% 0.65%

Fee for the differing part 0.10% 0.65%

Total return, 1 year +9.4% −28.3%

vs its benchmark not measured not measured

Below its high −15.6% −50.7%

Net assets, GCAD as of Jun 30, 2026 and KDEF as of Aug 31, 2026 $44m $113m

As of Nov 4, 2026. Source: ETFIQ.

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

Alert

About each fund

GCAD

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 51 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +9.4% with distributions reinvested. It sits 15.6% 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 GCAD 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, 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 0.10% a year and KDEF charges 0.65%, so GCAD is cheaper. Fees come from each fund's prospectus.

Other comparisons

GCAD vs NATO GCAD vs WDEF GCAD vs WAR GCAD vs WDAF KDEF vs NATO KDEF vs MISL 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 →GCAD on its own →KDEF on its own →GCAD dividend history →GCAD holdings →KDEF dividend history →KDEF holdings →Method →Standards and sources →

Sources and dates

GCAD filings on SEC EDGAR ↗

GCAD prospectus with the expense ratio (SEC) ↗

Gabelli 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.

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

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