KMCA vs. KDEF

Last updated Jul 28, 2026

KMCA (PLUS Korea Manufacturing Core Alliance Index ETF) and KDEF (PLUS Korea Defense Industry Index ETF) are both exchange-traded funds - KMCA is a South Korea Equities fund tracking the Akros Korea Manufacturing Core Alliance Index, while KDEF is a Aerospace & Defense fund tracking the The Korea Defence Industry Index. Both are passively managed. Their 0.54 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.65% expense ratio.

Performance

KMCA vs. KDEF - Performance Comparison

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

Returns By Period

KMCA

• 1D: -2.42%
• 1M: -18.16%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

KDEF

• 1D: -8.44%
• 1M: -6.75%
• 6M: -35.50%
• YTD: -16.11%
• 1Y: -8.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 49.96%

*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)
KDEF PLUS Korea Defense Industry Index ETF	$2.23M	$2.53M	$6.21M
KMCA PLUS Korea Manufacturing Core Alliance Index ETF	$196.23K	$272.35K	$280.66K

KMCA vs. KDEF - Yearly Performance Comparison

	2026 (YTD)
KMCA PLUS Korea Manufacturing Core Alliance Index ETF	-25.65%
KDEF PLUS Korea Defense Industry Index ETF	-42.34%

Correlation

The correlation between KMCA and KDEF is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 7, 2026	0.54

Return for Risk

KMCA vs. KDEF — Risk / Return Rank

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

KMCA

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

KDEF

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

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.

KMCA vs. KDEF - Risk-Adjusted Trends Comparison

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

	KMCA	KDEF	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.17	—
Sortino ratio: Return per unit of downside risk	—	0.10	—
Omega ratio: Gain probability vs. loss probability	—	1.01	—
Calmar ratio: Return relative to maximum drawdown	—	-0.18	—
Martin ratio: Return relative to average drawdown	—	-0.49	—

Drawdowns

KMCA vs. KDEF - Drawdown Comparison

The maximum KMCA drawdown since its inception was -30.84%, smaller than the maximum KDEF drawdown of -44.20%. Use the drawdown chart below to compare losses from any high point for KMCA and KDEF.

Drawdown Indicators

	KMCA	KDEF	Difference
Max Drawdown Largest peak-to-trough decline	-30.84%	-44.20%	+13.36%
Max Drawdown (1Y) Largest decline over 1 year	—	-44.20%	—
Current Drawdown Current decline from peak	-30.84%	-44.20%	+13.36%
Average Drawdown Average peak-to-trough decline	-13.24%	-9.27%	-3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.63%	—

Volatility

Volatility by Period

	KMCA	KDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	41.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	72.62%	49.33%	+23.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.62%	48.87%	+23.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.62%	48.87%	+23.75%

KMCA vs. KDEF - Expense Ratio Comparison

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

Dividends

KMCA vs. KDEF - Dividend Comparison

KMCA has not paid dividends to shareholders, while KDEF's dividend yield for the trailing twelve months is around 8.19%.

Position	TTM	2025
KDEF PLUS Korea Defense Industry Index ETF	8.19%	5.06%
KMCA PLUS Korea Manufacturing Core Alliance Index ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both KMCA and KDEF in my portfolio?

KMCA and KDEF have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KMCA or KDEF?

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, KMCA or KDEF?

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

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

KDEF has the higher dividend yield at 8.19%, compared with 0.00% for KMCA.

What is the main difference between KMCA and KDEF?

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