PLUS Korea Defense Industry Index ETF
KDEF
New York Stock Exchange Arca- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 280 Park Avenue, New York, NY 10017 New York City United States of America
- IPO Date
- Feb 4, 2025
- Website
- plusetf.com.
- Similar Companies
- Business
- PLUS Korea Defense Industry Index ETF (KDEF) is an exchange-traded fund that seeks to provide investment results corresponding generally to the total return performance, before fees and expenses, of the Korea Defense Industry Index. The Fund, a series of Exchange Listed Funds Trust headquartered in Oklahoma City, Oklahoma, invests at least 80% of its net assets in securities comprising the Index, which tracks South Korean companies demonstrating high relevance to the defense sector through an AI-driven scoring methodology utilizing large language models to analyze public disclosures for defense-related keywords. Eligible constituents are drawn from KOSPI and KOSDAQ-listed common stocks in industries including aerospace product and parts manufacturing, ship and boat building, industrial machinery manufacturing, motor vehicle parts manufacturing, navigational and control instruments manufacturing, and satellite telecommunications; the Index targets approximately 20 constituents weighted 70% by market capitalization and 30% by thematic relevance scores, with quarterly rebalancing and a maximum 20% weighting per holding, while ensuring over 50% of revenue derives from defense activities. The Fund's top holdings as of September 2025 include Hanwha Aerospace Co., Ltd. (17.00%), Hyundai Rotem Company (12.87%), HJ Shipbuilding & Construction Co., Ltd. (8.92%), Korea Aerospace Industries, Ltd. (6.23%), and LIG Nex1 Co., Ltd. (5.67%), comprising leading South Korean firms in defense manufacturing, aerospace components, missile systems, naval construction, and related technologies; the portfolio totals 25 holdings with 70.93% concentration in the top 10, focusing on mid- to large-cap equity securities traded primarily on Korean exchanges. KDEF operates with a 0.65% expense ratio, non-diversified status under the 1940 Act, and concentration in the aerospace products and parts manufacturing industry as defined by the Akros Industry Classification System; it targets U.S. investors seeking exposure to Korea's defense sector innovations, including partnerships with global firms like GE and Pratt & Whitney for aircraft engines, K239 Chunmoo rocket launchers exported to Poland and the Middle East, and space programs such as the Nuri launch vehicle. Launched on February 5, 2025, on NYSE Arca through a strategic partnership between Exchange Traded Concepts LLC (the adviser) and Hanwha Asset Management Co., Ltd. (the Index provider), KDEF represents the U.S. expansion of Hanwha's PLUS K-Defense ETF listed in Korea, leveraging the same methodology for seamless access to firms driving national security and global competitiveness in defense. The Index, created by Akros Index Engineering, Inc. and calculated by Solactive AG, applies minimum eligibility criteria of KRW 300 billion market cap, $250,000 average daily traded value, and 250,000 share volume, with recent quarterly rebalances maintaining alignment amid rising global defense spending. As of late 2025, assets under management stand at approximately $66 million, with no reported acquisitions, funding rounds, or major reorganizations beyond the initial launch.