Do KWEB and SHLD 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, KWEB or SHLD?

KWEB has 0% of its weight in S&P 500 names and SHLD has 45%, so KWEB differs more from the index.

Which is cheaper, KWEB or SHLD?

KWEB charges 0.69% a year and SHLD charges 0.50%, so SHLD is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

KWEB vs SHLD: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, KWEB returned −40.6% to SHLD's −6.5%; 0% of their weight is in the same names.

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Net assets: $4.3bn on Oct 28, 2026 for KraneShares CSI China Internet ETF, and $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF.

KWEB on its own →SHLD on its own →

At a glance

0.0%

KWEB in the S&P 500

44.6%

SHLD in the S&P 500

−40.6%

KWEB total return, 1 year

−6.5%

SHLD total return, 1 year

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.

SHLD · 1 year to Oct 28, 2026 55% of its weight is outside the S&P 500

45% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 2026.

Pair scorecard

SHLD costs 0.19 points a year less; their one-year returns differ by 34.1 points; SHLD is 1.4 times larger.

KWEB vs SHLD: Holdings Overlap & Returns
Measure	KWEB	SHLD
Return
Measure	KWEB	SHLD
Total return, 1 year	−40.6%	−6.5%
Drawdown
Measure	KWEB	SHLD
Below its all-time high	73.4%, high on Feb 17, 2021	18.6%, high on Mar 9, 2026
Benchmark
Measure	KWEB	SHLD
What it tracks	Internet and e-commerce	Defense
Cost and size
Measure	KWEB	SHLD
Expense ratio	0.69%	0.50%
Net assets, as of Oct 12, 2026	$4.5bn	$6.3bn
Holdings
Measure	KWEB	SHLD
Holdings in common	0%

Holdings in common uses holdings dated May 31, 2026 and Oct 28, 2026. Method

What they share

By the books each fund has filed, KWEB and SHLD hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 28, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first KWEB SHLD

Only in one fund ↓

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%

Only in SHLD

LOCKHEED MARTIN CORPORATION 8.41%

RTX CORPORATION 7.75%

GENERAL DYNAMICS CORPORATION 7.67%

PALANTIR TECHNOLOGIES INC. 7.07%

Rheinmetall Aktiengesellschaft 5.76%

BAE SYSTEMS PLC 4.88%

L3HARRIS TECHNOLOGIES, INC. 4.69%

HANWHA AEROSPACE CO., LTD. 4.40%

Check overlap with more funds →

Window by window

Window by window: KWEB vs SHLD: Holdings Overlap & Returns
	Total return
Window	KWEB	SHLD
3 months	−17.3%	+2.0%
6 months	−17.9%	−4.7%
1 year	−40.6%	−6.5%
3 years	−3.2%	+156.5%
Since launchNot the same days: KWEB Aug 2013 · SHLD Sep 2023	+12.7%	+160.2%

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Side by side

KWEB KraneShares CSI China Internet ETF · Holds 45 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies SHLD Global X Defense Tech ETF · Holds 48 stocks in defense, 45% of its weight in S&P 500 companies

Issuer KraneShares Global X

Theme Internet and e-commerce Defense

In the S&P 500 0.0% 44.6%

Active share vs the S&P 500 100.0% 98.7%

In the Nasdaq-100 8.4% 7.1%

Holdings 45 48

Top ten, share of the fund 61.5% 59.3%

Expense ratio 0.69% 0.50%

Fee for the differing part 0.69% 0.51%

Total return, 1 year −40.6% −6.5%

vs its benchmark not measured not measured

Below its high −73.4% −18.6%

Net assets, KWEB as of Oct 28, 2026 and SHLD as of Oct 12, 2026 $4.3bn $6.3bn

As of Oct 28, 2026. Source: ETFIQ.

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

Alert

About each fund

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.

SHLD

By weight, 45% 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 59% of the fund across 48 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned −6.5% with distributions reinvested. It sits 18.6% below its all-time high of Mar 9, 2026.

Questions people ask

Do KWEB and SHLD 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, KWEB or SHLD?: KWEB has 0% of its weight in S&P 500 names and SHLD has 45%, so KWEB differs more from the index.
Which is cheaper, KWEB or SHLD?: KWEB charges 0.69% a year and SHLD charges 0.50%, so SHLD is cheaper. Fees come from each fund's prospectus.

Other comparisons

KWEB vs PPA KWEB vs IDEF KWEB vs XAR KWEB vs ITA SHLD vs FDN SHLD vs ARKG SHLD vs ARTY SHLD vs BOTZ

Where to next

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

Sources and dates

KWEB filings on SEC EDGAR ↗

KWEB prospectus with the expense ratio (SEC) ↗

KraneShares page for KWEB ↗

SHLD filings on SEC EDGAR ↗

SHLD prospectus with the expense ratio (SEC) ↗

Global X page for SHLD ↗

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

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