Data as of .
KDEF vs NATO: which is really different?
KDEF and NATO hold 0% of their weight in the same names, and NATO 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, KDEF and NATO hold 0% of their money in the same securities at the same weight.
| Only in KDEF | Only in NATO |
|---|---|
| HANWHA AEROSPACE CO LTD 18.69% | General Electric Co 9.73% |
| HYUNDAI ROTEM COMPANY 17.07% | RTX Corp 7.61% |
| LIG DEFENSE & AEROSPACE CO LTD 5.87% | Boeing Co/The 7.28% |
| HD HYUNDAI HEAVY INDUSTRIES CO LTD 4.79% | Rolls-Royce Holdings PLC 7.16% |
| KOREA AEROSPACE INDUSTRIES LTD 4.58% | Lockheed Martin Corp 5.19% |
| FIRSTEC COMPANY LTD 4.53% | Airbus SE 5.10% |
| POONGSAN CORP 4.14% | Safran SA 4.89% |
| HANWHA SYSTEMS CO LTD 4.12% | Howmet Aerospace Inc 4.85% |
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 | |||
|---|---|---|---|---|---|---|
| KDEF | NATO | KDEF | NATO | KDEF | NATO | |
| 3 months | −11.8% | −6.6% | −14.1 pts | −8.9 pts | −9.3 pts | −4.1 pts |
| 6 months | −18.0% | −3.4% | −36.0 pts | −21.5 pts | −42.2 pts | −27.7 pts |
| 1 year | −8.0% | +0.6% | −24.5 pts | −16.0 pts | −29.7 pts | −21.2 pts |
| Since launch | +113.7% | +49.9% | +85.1 pts | +15.4 pts | +75.7 pts | +2.3 pts |
| KDEF PLUS Korea Defense Industry Index ETF Holds 20 stocks in defense, 0% of its weight in S&P 500 companies | NATO Themes Transatlantic Defense ETF Holds 84 stocks in defense, 58% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | PLUS | Themes |
| Theme | Defense | Defense |
| In the S&P 500 | 0.0% | 58.4% |
| Active share vs the S&P 500 | 100.0% | 97.6% |
| In the Nasdaq-100 | 0.0% | 5.1% |
| Holdings | 20 | 84 |
| Top ten, share of the fund | 71.4% | 58.8% |
| Expense ratio | 0.65% | 0.35% |
| Fee for the differing part | 0.65% | 0.36% |
| Total return, 1 year | −8.0% | +0.6% |
| vs the S&P 500 | −24.5 pts | −16.0 pts |
| vs the Nasdaq-100 | −29.7 pts | −21.2 pts |
| Below its high | −34.6% | −14.4% |
| Net assets | $157m | $95m |
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.
NATO in plain words
By weight, 58% of NATO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 59% of the fund across 84 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +0.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 16.0 pts. It sits 14.4% below its all-time high of Mar 2, 2026.
Questions people ask
- Do KDEF and NATO 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, KDEF or NATO?
- KDEF has 0% of its weight in S&P 500 names and NATO has 58%, so KDEF differs more from the index.
- Which is cheaper, KDEF or NATO?
- KDEF charges 0.65% a year and NATO charges 0.35%, so NATO 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, KDEF against NATO, data as of Sep 18, 2026. https://etfiq.com/compare/themes/kdef-vs-nato Free to use with attribution; the underlying files are at Open data.