KDEF vs. KMCA

Last updated Jul 17, 2026

KDEF (PLUS Korea Defense Industry Index ETF) and KMCA (PLUS Korea Manufacturing Core Alliance Index ETF) are both exchange-traded funds - KDEF is a Aerospace & Defense fund tracking the The Korea Defence Industry Index, while KMCA is a South Korea Equities fund tracking the Akros Korea Manufacturing Core Alliance Index. Both are passively managed. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

KDEF vs. KMCA - Performance Comparison

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

Returns By Period

KDEF

• 1D: 1.01%
• 1M: -26.57%
• 6M: -32.11%
• YTD: -12.28%
• 1Y: -1.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMCA

• 1D: -3.57%
• 1M: -25.38%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KDEF vs. KMCA - Yearly Performance Comparison

	2026 (YTD)
KDEF PLUS Korea Defense Industry Index ETF	-39.71%
KMCA PLUS Korea Manufacturing Core Alliance Index ETF	-23.16%

Correlation

The correlation between KDEF and KMCA 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 (All Time) Calculated using the full available price history since May 7, 2026	0.51

Return for Risk

KDEF vs. KMCA — Risk / Return Rank

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

KDEF

KDEF Risk / Return Rank: 10
KDEF Sharpe Ratio Rank: 9
KDEF Sortino Ratio Rank: 11
KDEF Omega Ratio Rank: 10
KDEF Calmar Ratio Rank: 9
KDEF Martin Ratio Rank: 9

KMCA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

KDEF vs. KMCA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PLUS Korea Defense Industry Index ETF (KDEF) and PLUS Korea Manufacturing Core Alliance Index ETF (KMCA). 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.

	KDEF	KMCA	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	—	—
Sortino ratio: Return per unit of downside risk	0.29	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	-0.04	—	—
Martin ratio: Return relative to average drawdown	-0.12	—	—

Drawdowns

KDEF vs. KMCA - Drawdown Comparison

The maximum KDEF drawdown since its inception was -42.23%, which is greater than KMCA's maximum drawdown of -28.52%. Use the drawdown chart below to compare losses from any high point for KDEF and KMCA.

Drawdown Indicators

	KDEF	KMCA	Difference
Max Drawdown Largest peak-to-trough decline	-42.23%	-28.52%	-13.71%
Max Drawdown (1Y) Largest decline over 1 year	-42.23%	—	—
Current Drawdown Current decline from peak	-41.65%	-28.52%	-13.13%
Average Drawdown Average peak-to-trough decline	-8.65%	-11.06%	+2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.13%	—	—

Volatility

Volatility by Period

	KDEF	KMCA	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	39.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	48.14%	75.07%	-26.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.43%	75.07%	-26.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.43%	75.07%	-26.64%

KDEF vs. KMCA - Expense Ratio Comparison

Both KDEF and KMCA have an expense ratio of 0.65%.

Dividends

KDEF vs. KMCA - Dividend Comparison

KDEF's dividend yield for the trailing twelve months is around 7.83%, while KMCA has not paid dividends to shareholders.

Position	TTM	2025
KDEF PLUS Korea Defense Industry Index ETF	7.83%	5.06%
KMCA PLUS Korea Manufacturing Core Alliance Index ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both KDEF and KMCA in my portfolio?

KDEF and KMCA 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 ETF is better, KDEF or KMCA?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KDEF or KMCA?

KDEF and KMCA have the same expense ratio: 0.65% per year.

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

KDEF has the higher dividend yield at 7.83%, compared with 0.00% for KMCA.

What is the main difference between KDEF and KMCA?

KDEF is categorized as Aerospace & Defense, while KMCA is South Korea Equities. KDEF tracks The Korea Defence Industry Index, while KMCA tracks Akros Korea Manufacturing Core Alliance Index.