FLKR vs. KDEF

Last updated Aug 5, 2026

FLKR (Franklin FTSE South Korea ETF) and KDEF (PLUS Korea Defense Industry Index ETF) are both exchange-traded funds - FLKR is a South Korea 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 139.26% vs 5.65% for KDEF. Their 0.48 correlation means their historical movements had little consistent relationship. 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 76.23% return, which is significantly higher than KDEF's -2.64% return.

FLKR

• 1D: 6.64%
• 1M: -4.82%
• 6M: 39.29%
• YTD: 76.23%
• 1Y: 139.26%
• 3Y*: 41.63%
• 5Y*: 15.43%
• 10Y*: —
• ALL TIME*: 12.32%

KDEF

• 1D: 11.92%
• 1M: -1.40%
• 6M: -26.38%
• YTD: -2.64%
• 1Y: 5.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 64.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLKR Franklin FTSE South Korea ETF	$60.27M	$54.44M	$54.72M
KDEF PLUS Korea Defense Industry Index ETF	$3.20M	$2.70M	$5.35M

FLKR vs. KDEF - Yearly Performance Comparison

	2026 (YTD)	2025
FLKR Franklin FTSE South Korea ETF	76.23%	79.83%
KDEF PLUS Korea Defense Industry Index ETF	-2.64%	116.28%

Correlation

The correlation between FLKR and KDEF is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	0.48

The correlation between FLKR and KDEF has been stable across timeframes, ranging from 0.48 to 0.50 - a consistent structural relationship.

FLKR vs. KDEF - Sectors Allocation Comparison

Sectors	FLKR	KDEF
Technology	50.8%	2.1%
Industrials	17.1%	89.9%
Financial Services	12.3%	-
Consumer Cyclical	7.1%	6.2%
Healthcare	3.6%	1.8%
Basic Materials	2.9%	-
Communication Services	2.5%	-
Consumer Defensive	2.2%	-
Energy	0.7%	-
Utilities	0.5%	-
Real Estate	-	-

Return for Risk

FLKR vs. KDEF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLKR

FLKR Risk / Return Rank: 87
FLKR Sharpe Ratio Rank: 93
FLKR Sortino Ratio Rank: 79
FLKR Omega Ratio Rank: 85
FLKR Calmar Ratio Rank: 90
FLKR Martin Ratio Rank: 87

KDEF

KDEF Risk / Return Rank: 13
KDEF Sharpe Ratio Rank: 12
KDEF Sortino Ratio Rank: 16
KDEF Omega Ratio Rank: 15
KDEF Calmar Ratio Rank: 12
KDEF Martin Ratio Rank: 12

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FLKR	KDEF	Difference
Sharpe ratio: Return per unit of total volatility	2.61	0.11	+2.50
Sortino ratio: Return per unit of downside risk	2.84	0.54	+2.30
Omega ratio: Gain probability vs. loss probability	1.40	1.06	+0.34
Calmar ratio: Return relative to maximum drawdown	4.10	0.12	+3.98
Martin ratio: Return relative to average drawdown	14.19	0.32	+13.88

FLKR vs. KDEF - Sharpe Ratio Comparison

The current FLKR Sharpe Ratio is 2.61, which is higher than the KDEF Sharpe Ratio of 0.11. 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.

Drawdowns

FLKR vs. KDEF - Drawdown Comparison

The maximum FLKR drawdown since its inception was -50.06%, roughly equal to the maximum KDEF drawdown of -48.41%. 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%	-48.41%	-1.65%
Max Drawdown (1Y) Largest decline over 1 year	-34.17%	-48.41%	+14.24%
Max Drawdown (3Y) Largest decline over 3 years	-34.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.45%	—	—
Current Drawdown Current decline from peak	-21.83%	-35.24%	+13.41%
Average Drawdown Average peak-to-trough decline	-21.96%	-9.81%	-12.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.85%	17.91%	-8.06%

Volatility

FLKR vs. KDEF - Volatility Comparison

The current volatility for Franklin FTSE South Korea ETF (FLKR) is 21.75%, while PLUS Korea Defense Industry Index ETF (KDEF) has a volatility of 24.59%. This indicates that FLKR experiences smaller price fluctuations and is considered to be less risky 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	21.75%	24.59%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	50.70%	45.43%	+5.27%
Volatility (1Y) Calculated over the trailing 1-year period	53.70%	53.07%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.31%	51.20%	-18.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.87%	51.20%	-21.33%

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 2.62%, less than KDEF's 7.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLKR Franklin FTSE South Korea ETF	2.62%	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	7.06%	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 0.50, 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?

KDEF has higher volatility (24.59%) compared to FLKR (21.75%). In terms of maximum drawdown, FLKR dropped -50.06% vs KDEF's -48.41%.

Which ETF is better, FLKR or KDEF?

On 1-year performance, FLKR leads with 139.26% vs 5.65% for KDEF. On fees, FLKR is cheaper at 0.09% per year. On volatility, FLKR has been the lower-risk option at 21.75%. 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 139.26% return vs 5.65%. 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 7.06%, compared with 2.62% for FLKR.

What is the main difference between FLKR and KDEF?

FLKR is categorized as South Korea 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 (2.61 vs 0.11), 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.