KDEF vs SPY
PLUS Korea Defense Industry Index ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | KDEF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $100M | $789.1B | |
| Dividend Yield | 5.56% | 1.01% | |
| Holdings | 24 | 505 | |
| YTD Return | -3.64% | +13.39% | |
| 1Y Return | +15.41% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 57.2% | 15.3% | |
| Max Drawdown | -48.6% | -56.5% | |
| Fund Family | PLUS ETF | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 5, 2025 | Jan 22, 1993 |
KDEF vs SPY Performance
PLUS Korea Defense Industry Index ETF (KDEF) is a ETF from PLUS ETF and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KDEF returned +15.41% while SPY returned +22.52%. Year to date, KDEF is down 3.64% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
KDEF has been the more volatile fund, with annualized monthly volatility of 57.2% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -48.6% for KDEF and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
KDEF charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, KDEF currently yields 5.56% against 1.01% for SPY.
Holdings Overlap
KDEF and SPY share 0 holdings out of 523 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, KDEF or SPY?
KDEF has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, KDEF or SPY?
Over the past year KDEF returned +15.41% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), KDEF annualized +67.75% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, KDEF or SPY?
KDEF has been the more volatile fund at 57.2% annualized versus 15.3% for SPY. Worst drawdown: KDEF -48.6% vs SPY -56.5%.
Should I hold both KDEF and SPY?
KDEF and SPY have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between KDEF and SPY?
KDEF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 523 unique securities.
Which pays a higher dividend, KDEF or SPY?
KDEF yields 5.56% while SPY yields 1.01%, so KDEF currently pays the higher dividend yield.
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