Data as of .
KDEF vs WDAF: which is really different?
KDEF and WDAF hold 37% of their weight in the same names, and WDAF 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
37% 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 WDAF hold 37% of their money in the same securities at the same weight.
| Holding | KDEF | WDAF |
|---|---|---|
| HANWHA AEROSPACE CO LTD | 18.69% | 7.32% |
| HYUNDAI ROTEM COMPANY | 17.07% | 6.84% |
| LIG DEFENSE & AEROSPACE CO LTD | 5.87% | 7.01% |
| KOREA AEROSPACE INDUSTRIES LTD | 4.58% | 7.70% |
| HANWHA SYSTEMS CO LTD | 4.12% | 3.66% |
| HD HYUNDAI HEAVY INDUSTRIES CO LTD | 4.79% | 3.64% |
| HANWHA OCEAN CO LTD | 3.29% | 2.98% |
| WOORI TECHNOLOGY INC | 2.39% | 0.83% |
| POONGSAN CORP | 4.14% | 0.42% |
| SATREC INITIATIVE CO LTD | 2.67% | 0.25% |
| SK OCEANPLANT CO LTD | 2.84% | 0.17% |
| HJ SHIPBUILDING & CONSTRUCT CO LTD | 3.03% | 0.13% |
| Only in KDEF | Only in WDAF |
|---|---|
| SAMHYUN CO LTD 3.64% | HINDUSTAN AERONAUTICS LTD 8.01% |
| HYUNDAI WIA CORP 3.63% | BHARAT ELECTRONICS LTD 7.82% |
| SPHERE CORP 2.89% | IHI CORP 4.58% |
| KAWASAKI HEAVY INDUSTRIES LTD 4.22% | |
| MITSUBISHI HEAVY INDUSTRIES LTD 4.17% | |
| SINGAPORE TECHNOLOGIES ENGINEERING LTD 3.96% | |
| MAZAGON DOCK SHIPBUILDERS LTD 1.83% | |
| BHARAT FORGE LTD 1.75% |
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 | WDAF | KDEF | WDAF | KDEF | WDAF | |
| 3 months | −11.8% | −8.2% | −14.1 pts | −10.5 pts | −9.3 pts | −5.8 pts |
| 6 months | −18.0% | −4.9% | −36.0 pts | −22.9 pts | −42.2 pts | −29.1 pts |
| 1 year | −8.0% | −1.4% | −24.5 pts | −17.9 pts | −29.7 pts | −23.1 pts |
| Since launch | +113.7% | −0.1% | +85.1 pts | −17.5 pts | +75.7 pts | −23.7 pts |
| KDEF PLUS Korea Defense Industry Index ETF Holds 20 stocks in defense, 0% of its weight in S&P 500 companies | WDAF WisdomTree Asia Defense Fund Holds 61 stocks in defense, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | PLUS | WisdomTree |
| Theme | Defense | Defense |
| In the S&P 500 | 0.0% | 0.0% |
| Active share vs the S&P 500 | 100.0% | 100.0% |
| In the Nasdaq-100 | 0.0% | 0.0% |
| Holdings | 20 | 61 |
| Top ten, share of the fund | 71.4% | 61.6% |
| Expense ratio | 0.65% | 0.45% |
| Fee for the differing part | 0.65% | 0.45% |
| Total return, 1 year | −8.0% | −1.4% |
| vs the S&P 500 | −24.5 pts | −17.9 pts |
| vs the Nasdaq-100 | −29.7 pts | −23.1 pts |
| Below its high | −34.6% | −18.8% |
| Net assets | $157m | $12m |
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.
WDAF in plain words
By weight, 0% of WDAF'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 61 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned −1.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 17.9 pts. It sits 18.8% below its all-time high of May 5, 2026.
Questions people ask
- Do KDEF and WDAF hold the same stocks?
- By their latest filings, 37% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, KDEF or WDAF?
- KDEF has 0% of its weight in S&P 500 names and WDAF has 0%, so KDEF differs more from the index.
- Which is cheaper, KDEF or WDAF?
- KDEF charges 0.65% a year and WDAF charges 0.45%, so WDAF 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 WDAF, data as of Sep 18, 2026. https://etfiq.com/compare/themes/kdef-vs-wdaf Free to use with attribution; the underlying files are at Open data.