Data as of .
KDEF vs SHLD: which is really different?
KDEF and SHLD hold 6% of their weight in the same names, and SHLD 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
6% 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 SHLD hold 6% of their money in the same securities at the same weight.
| Holding | KDEF | SHLD |
|---|---|---|
| HANWHA AEROSPACE CO LTD | 18.69% | 3.86% |
| LIG DEFENSE & AEROSPACE CO LTD | 5.87% | 1.01% |
| HANWHA SYSTEMS CO LTD | 4.12% | 0.66% |
| Only in KDEF | Only in SHLD |
|---|---|
| HYUNDAI ROTEM COMPANY 17.07% | PALANTIR TECHNOLOGIES INC-A 10.77% |
| HD HYUNDAI HEAVY INDUSTRIES CO LTD 4.79% | RTX CORPORATION 9.10% |
| KOREA AEROSPACE INDUSTRIES LTD 4.58% | GENERAL DYNAMICS CORP 8.54% |
| FIRSTEC COMPANY LTD 4.53% | LOCKHEED MARTIN CORP 8.29% |
| POONGSAN CORP 4.14% | NORTHROP GRUMMAN CORP 7.88% |
| SNT DYNAMICS CO LTD 4.00% | BAE SYSTEMS PLC 4.72% |
| SAMHYUN CO LTD 3.64% | RHEINMETALL AG 3.80% |
| HYUNDAI WIA CORP 3.63% | THALES SA 3.76% |
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 May 31, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| KDEF | SHLD | KDEF | SHLD | KDEF | SHLD | |
| 3 months | −11.8% | +0.9% | −14.1 pts | −1.3 pts | −9.3 pts | +3.4 pts |
| 6 months | −18.0% | −14.0% | −36.0 pts | −32.1 pts | −42.2 pts | −38.3 pts |
| 1 year | −8.0% | −5.1% | −24.5 pts | −21.7 pts | −29.7 pts | −26.9 pts |
| 3 years | not published | +156.1% | not published | +77.7 pts | not published | +57.9 pts |
| Since launch | +113.7% | +157.7% | +85.1 pts | +80.2 pts | +75.7 pts | +61.5 pts |
| KDEF PLUS Korea Defense Industry Index ETF Holds 20 stocks in defense, 0% of its weight in S&P 500 companies | SHLD Global X Defense Tech ETF Holds 59 stocks in defense, 40% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | PLUS | Global X |
| Theme | Defense | Defense |
| In the S&P 500 | 0.0% | 39.9% |
| Active share vs the S&P 500 | 100.0% | 99.1% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 20 | 59 |
| Top ten, share of the fund | 71.4% | 64.4% |
| Expense ratio | 0.65% | 0.50% |
| Fee for the differing part | 0.65% | 0.50% |
| Total return, 1 year | −8.0% | −5.1% |
| vs the S&P 500 | −24.5 pts | −21.7 pts |
| vs the Nasdaq-100 | −29.7 pts | −26.9 pts |
| Below its high | −34.6% | −19.4% |
| Net assets | $157m | $7.1bn |
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.
SHLD in plain words
By weight, 40% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 64% of the fund across 59 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −5.1% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 21.7 pts. It sits 19.4% below its all-time high of Mar 9, 2026.
Questions people ask
- Do KDEF and SHLD hold the same stocks?
- By their latest filings, 6% 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 SHLD?
- KDEF has 0% of its weight in S&P 500 names and SHLD has 40%, so KDEF differs more from the index.
- Which is cheaper, KDEF or SHLD?
- KDEF charges 0.65% a year and SHLD charges 0.50%, so SHLD 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 SHLD, data as of Sep 18, 2026. https://etfiq.com/compare/themes/kdef-vs-shld Free to use with attribution; the underlying files are at Open data.