FLKR vs. KDEF

Last updated Jun 4, 2026

FLKR (Franklin FTSE South Korea ETF) and KDEF (PLUS Korea Defense Industry Index ETF) are both exchange-traded funds - FLKR is a Asia Pacific Equities fund tracking the FTSE South Korea RIC Capped Index, while KDEF is a Aerospace & Defense fund tracking the The Korea Defence Industry Index. Both are passively managed. Over the past year, FLKR returned 238.40% vs 40.06% for KDEF. At a 0.50 correlation, their price movements are largely independent. FLKR charges 0.09%/yr vs 0.65%/yr for KDEF.

Performance

FLKR vs. KDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE South Korea ETF (FLKR) and PLUS Korea Defense Industry Index ETF (KDEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLKR achieves a 114.41% return, which is significantly higher than KDEF's 6.06% return.

FLKR

• 1D: -0.79%
• 1M: 29.00%
• YTD: 114.41%
• 6M: 130.14%
• 1Y: 238.40%
• 3Y*: 51.14%
• 5Y*: 19.48%
• 10Y*: —

KDEF

• 1D: -2.40%
• 1M: -26.87%
• YTD: 6.06%
• 6M: 18.05%
• 1Y: 40.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLKR vs. KDEF - Yearly Performance Comparison

	2026 (YTD)	2025
FLKR Franklin FTSE South Korea ETF	114.41%	77.16%
KDEF PLUS Korea Defense Industry Index ETF	6.06%	117.16%

Correlation

The correlation between FLKR and KDEF is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.50

The correlation between FLKR and KDEF has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.

FLKR vs. KDEF - Sectors Allocation Comparison

Sectors	FLKR	KDEF
Technology	64.3%	3.1%
Industrials	12.8%	84.9%
Financial Services	7.6%	-
Consumer Cyclical	6.0%	5.8%
Basic Materials	2.6%	-
Healthcare	2.5%	2.4%
Communication Services	1.6%	-
Consumer Defensive	1.5%	-
Energy	0.4%	-
Utilities	0.3%	-
Real Estate	-	-

Return for Risk

FLKR vs. KDEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLKR

FLKR Risk / Return Rank: 96
FLKR Sharpe Ratio Rank: 98
FLKR Sortino Ratio Rank: 95
FLKR Omega Ratio Rank: 95
FLKR Calmar Ratio Rank: 97
FLKR Martin Ratio Rank: 96

KDEF

KDEF Risk / Return Rank: 26
KDEF Sharpe Ratio Rank: 25
KDEF Sortino Ratio Rank: 25
KDEF Omega Ratio Rank: 25
KDEF Calmar Ratio Rank: 28
KDEF Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLKR vs. KDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE South Korea ETF (FLKR) and PLUS Korea Defense Industry Index ETF (KDEF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FLKR	KDEF	Difference
Sharpe ratio: Return per unit of total volatility	5.83	0.90	+4.93
Sortino ratio: Return per unit of downside risk	5.23	1.42	+3.81
Omega ratio: Gain probability vs. loss probability	1.73	1.17	+0.56
Calmar ratio: Return relative to maximum drawdown	10.42	1.37	+9.06
Martin ratio: Return relative to average drawdown	38.67	4.15	+34.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLKR vs. KDEF - Sharpe Ratio Comparison

The current FLKR Sharpe Ratio is 5.83, which is higher than the KDEF Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of FLKR and KDEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLKR	KDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.83	0.90	+4.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.90	-1.35

Drawdowns

FLKR vs. KDEF - Drawdown Comparison

The maximum FLKR drawdown since its inception was -50.06%, which is greater than KDEF's maximum drawdown of -29.45%. Use the drawdown chart below to compare losses from any high point for FLKR and KDEF.

Drawdown Indicators

	FLKR	KDEF	Difference
Max Drawdown Largest peak-to-trough decline	-50.06%	-29.45%	-20.61%
Max Drawdown (1Y) Largest decline over 1 year	-23.03%	-29.45%	+6.42%
Max Drawdown (3Y) Largest decline over 3 years	-26.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.51%	—	—
Current Drawdown Current decline from peak	-1.77%	-29.45%	+27.68%
Average Drawdown Average peak-to-trough decline	-22.07%	-6.45%	-15.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	9.69%	-3.49%

Volatility

FLKR vs. KDEF - Volatility Comparison

Franklin FTSE South Korea ETF (FLKR) has a higher volatility of 20.21% compared to PLUS Korea Defense Industry Index ETF (KDEF) at 15.76%. This indicates that FLKR's price experiences larger fluctuations and is considered to be riskier than KDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLKR	KDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.21%	15.76%	+4.45%
Volatility (6M) Calculated over the trailing 6-month period	36.52%	36.50%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	41.18%	44.63%	-3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.19%	46.54%	-18.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.56%	46.54%	-18.98%

FLKR vs. KDEF - Expense Ratio Comparison

FLKR has a 0.09% expense ratio, which is lower than KDEF's 0.65% expense ratio.

Dividends

FLKR vs. KDEF - Dividend Comparison

FLKR's dividend yield for the trailing twelve months is around 1.80%, less than KDEF's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLKR Franklin FTSE South Korea ETF	1.80%	3.87%	7.08%	2.28%	3.13%	2.12%	0.99%	2.09%	1.86%	1.02%
KDEF PLUS Korea Defense Industry Index ETF	6.48%	5.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLKR and KDEF in my portfolio?

FLKR and KDEF have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLKR or KDEF?

FLKR has higher volatility (20.21%) compared to KDEF (15.76%). In terms of maximum drawdown, FLKR dropped -50.06% vs KDEF's -29.45%.

Which ETF is better, FLKR or KDEF?

On 1-year performance, FLKR leads with 238.40% vs 40.06% for KDEF. On fees, FLKR is cheaper at 0.09% per year. On volatility, KDEF has been the lower-risk option at 15.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLKR or KDEF?

Over the 1-year period, FLKR has performed better with a 238.40% return vs 40.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLKR or KDEF?

FLKR is cheaper with a 0.09% expense ratio, compared with 0.65% for KDEF.

Which ETF pays a higher dividend yield, FLKR or KDEF?

KDEF has the higher dividend yield at 6.48%, compared with 1.80% for FLKR.

What is the main difference between FLKR and KDEF?

FLKR is categorized as Asia Pacific Equities, while KDEF is Aerospace & Defense. FLKR tracks FTSE South Korea RIC Capped Index, while KDEF tracks The Korea Defence Industry Index. They also come from different issuers: Franklin Templeton and PLUS. Their fees differ too: 0.09% for FLKR and 0.65% for KDEF.

Which has better risk-adjusted returns?

FLKR currently has the higher Sharpe Ratio (5.83 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.