Do IDEF and KWEB 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, IDEF or KWEB?

IDEF has 42% of its weight in S&P 500 names and KWEB has 0%, so KWEB differs more from the index.

Which is cheaper, IDEF or KWEB?

IDEF charges 0.55% a year and KWEB charges 0.69%, so IDEF is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

IDEF vs KWEB: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, IDEF returned −5.7% to KWEB's −40.6%; 0% of their weight is in the same names.

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Net assets on Oct 28, 2026: $3.7bn for iShares Defense Industrials and Tech Active ETF and $4.3bn for KraneShares CSI China Internet ETF.

IDEF on its own →KWEB on its own →

At a glance

42.5%

IDEF in the S&P 500

0.0%

KWEB in the S&P 500

−5.7%

IDEF total return, 1 year

−40.6%

KWEB total return, 1 year

IDEF · 1 year to Oct 28, 2026 58% of its weight is outside the S&P 500

43% of IDEF's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Oct 27, 2026.

KWEB · 1 year to Oct 28, 2026 100% of its weight is outside the S&P 500

0% of KWEB's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 28, 2026.

Pair scorecard

IDEF costs 0.14 points a year less; their one-year returns differ by 34.9 points; KWEB is 1.2 times larger.

IDEF vs KWEB: Holdings Overlap & Returns
Measure	IDEF	KWEB
Return
Measure	IDEF	KWEB
Total return, 1 year	−5.7%	−40.6%
Drawdown
Measure	IDEF	KWEB
Below its all-time high	17.0%, high on Mar 2, 2026	73.4%, high on Feb 17, 2021
Benchmark
Measure	IDEF	KWEB
What it tracks	Defense	Internet and e-commerce
Cost and size
Measure	IDEF	KWEB
Expense ratio	0.55%	0.69%
Net assets	$3.7bn	$4.3bn
Holdings
Measure	IDEF	KWEB
Holdings in common	0%

Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method

Risk and return

May 30, 2025 to Oct 23, 2026 · 73 weekly returns

IDEF KWEB

Return

Total return edge IDEF +14.9% −25.1%

Annualized edge IDEF +10.4% −18.6%

Price return edge IDEF +14.5% −29.3%

Risk

Volatility edge IDEF 22.4% 25.8%

Max drawdown edge IDEF −17.1% −42.5%

Risk-adjusted

Sharpe edge IDEF 0.38 −0.82

Sortino edge IDEF 0.58 −1.07

Calmar edge IDEF 0.61 −0.44

Reading

IDEF returned more: +14.9% to −25.1%. IDEF swung less: 22.4% to 25.8%. IDEF fell less at its worst: −17.1% to −42.5%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: IDEF vs KWEB: Holdings Overlap & Returns
Measure	IDEF	KWEB	Edge	How it is measured
Return
Total return	+14.9%	−25.1%	IDEF	Price change plus distributions, reinvested.
Annualized	+10.4%	−18.6%	IDEF	Total return as a yearly rate.
Price return	+14.5%	−29.3%	IDEF	Price change alone, distributions left out.
Risk
Volatility	22.4%	25.8%	IDEF	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	14.7%	19.7%	IDEF	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−17.1%	−42.5%	IDEF	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.38	−0.82	IDEF	Return above Treasury bills per unit of volatility.
Sortino	0.58	−1.07	IDEF	Return above Treasury bills per unit of downside deviation.
Calmar	0.61	−0.44	IDEF	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 73 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, IDEF and KWEB hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first IDEF KWEB

Only in one fund ↓

Only in IDEF

RTX 7.05%

LOCKHEED MARTIN 5.27%

GENERAL DYNAMICS CORP 4.15%

NORTHROP GRUMMAN CORP 3.92%

BOEING 3.44%

ROLLS-ROYCE HOLDINGS PLC 3.06%

PALANTIR TECHNOLOGIES CLASS A 3.02%

SPACE EXPLORATION TECHNOLOGIES COR 2.93%

Only in KWEB

TENCENT HOLDINGS LTD 9.90%

ALIBABA GROUP HOLDING LTD 8.70%

PDD HOLDINGS INC 8.45%

MEITUAN-CLASS B 7.40%

NETEASE INC 6.54%

KE HOLDINGS INC-CL A 4.97%

LENOVO GROUP LTD 4.59%

JD.COM INC-CLASS A 4.16%

Check overlap with more funds →

Window by window

Window by window: IDEF vs KWEB: Holdings Overlap & Returns
	Total return
Window	IDEF	KWEB
3 months	−3.0%	−17.3%
6 months	−5.8%	−17.9%
1 year	−5.7%	−40.6%
3 years	–	−3.2%
Since launchNot the same days: IDEF May 2025 · KWEB Aug 2013	+22.1%	+12.7%

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Side by side

IDEF iShares Defense Industrials and Tech Active ETF · Holds 155 stocks in defense, 42% of its weight in S&P 500 companies KWEB KraneShares CSI China Internet ETF · Holds 45 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies

Issuer iShares KraneShares

Theme Defense Internet and e-commerce

In the S&P 500 42.5% 0.0%

Active share vs the S&P 500 92.2% 100.0%

In the Nasdaq-100 10.7% 8.4%

Holdings 155 45

Top ten, share of the fund 37.3% 61.5%

Expense ratio 0.55% 0.69%

Fee for the differing part 0.60% 0.69%

Total return, 1 year −5.7% −40.6%

vs its benchmark not measured not measured

Below its high −17.0% −73.4%

Net assets $3.7bn $4.3bn

As of Oct 28, 2026. Source: ETFIQ.

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

Client brief · page 1 of 2 Report BR-DAB82A2010

IDEF and KWEB are built for the same job. How do they differ in cost, holdings and results?

Theme. IDEF covers Defense and KWEB covers Internet and e-commerce.
Concentration. The top ten holdings are 37.3% of IDEF and 61.5% of KWEB, a gap of 24.2 points.
What each follows. IDEF follows Defense and KWEB follows Internet and e-commerce.

Data as of Oct 28, 2026.

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About each fund

IDEF

By weight, 42% of IDEF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 37% of the fund across 155 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −5.7% with distributions reinvested. It sits 17.0% below its all-time high of Mar 2, 2026.

KWEB

By weight, 0% of KWEB'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 62% of the fund across 45 positions, as published by its issuer for Oct 28, 2026. Over the year to Oct 28, 2026 the fund returned −40.6% with distributions reinvested. It sits 73.4% below its all-time high of Feb 17, 2021.

Questions people ask

Do IDEF and KWEB 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, IDEF or KWEB?: IDEF has 42% of its weight in S&P 500 names and KWEB has 0%, so KWEB differs more from the index.
Which is cheaper, IDEF or KWEB?: IDEF charges 0.55% a year and KWEB charges 0.69%, so IDEF is cheaper. Fees come from each fund's prospectus.

Other comparisons

IDEF vs FDN IDEF vs IFRA IDEF vs EUAD IDEF vs MISL KWEB vs PPA KWEB vs XAR KWEB vs SHLD KWEB vs ITA

Where to next

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

Sources and dates

IDEF filings on SEC EDGAR ↗

IDEF prospectus with the expense ratio (SEC) ↗

iShares page for IDEF ↗

KWEB filings on SEC EDGAR ↗

KWEB prospectus with the expense ratio (SEC) ↗

KraneShares page for KWEB ↗

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, IDEF against KWEB, data as of Oct 28, 2026. https://etfiq.com/compare/themes/idef-vs-kweb

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