GlobeNewswire Inc.T3·7mo ago
KDEF PLUS Korea Defense Industry Index ETF
ETF 30.55 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
KDEF
$30.55
—
Key stats
$30.55
- 52-Week Range
- $28.25 – $67.41
- YTD
- -33.34%
- IV Rank (30D)
- 50.44
- Straddle Price
- $4.25
- P/C Vol Ratio
- 0.23
- Open
- $30.51
- Day Range
- $29.97 – $30.51
- Volume
- 17,548
- Prev Close
- $30.70
About
PLUS Korea Defense Industry Index ETF (KDEF) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2025-02-04
- Has Options
- Yes
Fund profile
holdings as of Aug 31, 2026SEC filingthrough Aug 2026flows, SEC filings
International Equity
Single Country#91 of 162 by assets
PLUS
Aerospace & Defense
South Korea
Emerging Markets
Index-tracking
- Expense ratio
- 0.65% prospectus, filed Mar 27, 2026
- Assets
- $113M SEC filing, Aug 31, 2026
- Trailing yield
- 7.24%
- Average daily volume
- $1.8M 30 sessions
- Holdings
- 20 top 10 are 70.4%
- Listed
- Feb 4, 2025 NYSE Arca
- Tracking difference
- -4.35 pts vs index, after fees, FY 2025
Cost27
Liquidity42
Scale31
Diversification27
Moves with. US large-cap stocks (22% of its variance, beta 1.86); Emerging markets over US (9% of its variance, beta 0.77). These factors explain 30% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. The PLUS Korea Defense Industry Index ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Korea Defense Industry Index (the Index). (from the fund's prospectus)
All 20 holdingsFlow historySimilar fundsOverlap toolAll Single Country ETFs
Fund flows
through Aug 2026SEC filings- Aug 2026
- $0 latest reported month
- Latest 3 months
- −$22M −19.4% of assets
- Latest 12 months
- +$83M +73.2% of assets
View as a table
| Month | Net flow |
|---|---|
| Aug 2026 | $0 |
| Jul 2026 | −$2.0M |
| Jun 2026 | −$20M |
| May 2026 | −$5.9M |
| Apr 2026 | +$11M |
| Mar 2026 | +$17M |
| Feb 2026 | +$17M |
| Jan 2026 | +$46M |
| Dec 2025 | +$7.0M |
| Nov 2025 | +$1.2M |
| Oct 2025 | +$9.9M |
| Sep 2025 | +$1.4M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 21 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| WDAFWisdomTree Asia Defense Fund | 38% | 0.45% | $22M | −16.2% | compare |
| KMCAPLUS Korea Manufacturing Core Alliance Index ETF | 19% | 0.65% | $7.3M | — | compare |
| WDGFWisdomTree Global Defense Fund | 6% | 0.45% | $5.3M | −3.4% | compare |
| IDEFBlackRock ETF Trust iShares Defense Industrials and Tech Active ETF | 5% | 0.55% | $3.6B | −5.2% | compare |
Ranked by how much of the two portfolios is the same securities.
What changed in the portfolio
May 31, 2026 → Aug 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Decrease | HYUNDAI ROTEM COMPANY | 16.88% | 7.63% | −50.6% |
| New position | SNT HOLDINGS CO LTD | — | 2.53% | — |
| Exit | SAMYANG COMTECH CO LTD | 2.31% | — | — |
| Decrease | HD HYUNDAI HEAVY INDUSTRIES CO LTD | 4.74% | 2.55% | −38.3% |
| Increase | KOREA AEROSPACE INDUSTRIES LTD | 4.52% | 6.71% | +41.5% |
| Decrease | HANWHA SYSTEMS CO LTD | 4.07% | 2.31% | −39.6% |
| Increase | SK OCEANPLANT CO LTD | 2.81% | 4.33% | +41.4% |
| Decrease | FIRSTEC COMPANY LTD | 4.48% | 2.98% | −20.3% |
| Increase | SNT MOTIV CO LTD | 2.96% | 4.25% | +22.3% |
| Increase | WOORI TECHNOLOGY INC | 2.36% | 3.58% | +47.5% |
1 new, 1 exited, 7 increased and 4 decreased between the fund's two latest holdings reports; turnover 19.0%. Full holdings and history
Under the hood
fiscal year to Nov 30, 2025SEC census- Authorized participants
- 4 active of 4 with agreements; top 3 did 99%
- Created · redeemed
- $47M · $0 over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 10,000 shares
- Securities lending
- not authorized
- Return vs index
- -4.35 pts after fees; -3.70 before; daily s.d. 1.87
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-08-31
Holdings
20
AUM
$112.7M
Provider
Nport
Inception
2025-02-04
Exchange
ARCX
Data As Of
2026-08-31
Expense Ratio
0.65%
Dividend Yield
7.33%
Distribution
—
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-30 | 2025-12-31 | $2.2217 | CD |
Asset Allocation
Top Holdings
top 20 of 20 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | HANWHA AEROSPACE CO LTD | 23.38% | Equity (common) | KR |
| — | HYUNDAI ROTEM COMPANY | 7.63% | Equity (common) | KR |
| — | KOREA AEROSPACE INDUSTRIES LTD | 6.71% | Equity (common) | KR |
| — | LIG DEFENSE & AEROSPACE CO LTD | 6.66% | Equity (common) | KR |
| — | POONGSAN CORP | 6.04% | Equity (common) | KR |
| — | SK OCEANPLANT CO LTD | 4.33% | Equity (common) | KR |
| — | SNT MOTIV CO LTD | 4.25% | Equity (common) | KR |
| — | SNT DYNAMICS CO LTD | 3.94% | Equity (common) | KR |
| — | SAMHYUN CO LTD | 3.71% | Equity (common) | KR |
| — | SATREC INITIATIVE CO LTD | 3.70% | Equity (common) | KR |
| — | WOORI TECHNOLOGY INC | 3.58% | Equity (common) | KR |
| — | SPHERE CORP | 3.36% | Equity (common) | KR |
| — | HJ SHIPBUILDING & CONSTRUCT CO LTD | 3.18% | Equity (common) | KR |
| — | MNC SOLUTION CO LTD | 3.09% | Equity (common) | KR |
| — | FIRSTEC COMPANY LTD | 2.98% | Equity (common) | KR |
| — | HYUNDAI WIA CORP | 2.95% | Equity (common) | KR |
| — | HANWHA OCEAN CO LTD | 2.94% | Equity (common) | KR |
| — | HD HYUNDAI HEAVY INDUSTRIES CO LTD | 2.55% | Equity (common) | KR |
| — | SNT HOLDINGS CO LTD | 2.53% | Equity (common) | KR |
| — | HANWHA SYSTEMS CO LTD | 2.31% | Equity (common) | KR |
Geographic Breakdown
Seasonality
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | -- | 25.77% | 25.77% |
| Feb | 15.52% | 9.10% | 12.31% |
| Mar | 0.18% | -16.84% | -8.33% |
| Apr | 14.37% | 14.72% | 14.54% |
| May | 15.46% | -22.78% | -3.66% |
| Jun | 19.10% | -18.84% | 0.13% |
| Jul | 2.87% | -14.51% | -5.82% |
| Aug | 3.21% | 12.51% | 7.86% |
| Sep | 11.92% | 2.02% | 6.97% |
| Oct | -3.00% | -26.25% | -14.62% |
| Nov | -18.17% | -5.23%* | -11.70% |
| Dec | 11.32% | -- | 11.32% |
| Total | 91.10% | -43.73% | 23.69% |
* Only 2 year(s) of data available.
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $32.51
SMA 50: $37.83
SMA 200: $47.70
Current: $30.31
EMA 12: $31.17
EMA 26: $33.49
MACD: -2.3204 | Signal: 0.1197
BEARISH
ADX (14): 36.70
TREND
+DI: 22.18
−DI: 44.09
Momentum Oscillators
RSI (14): 36.39
NEUTRAL
Stoch %K: 39.28
Stoch %D: 33.81
Williams %R: -66.88
Volume & Volatility
BB Upper: $37.74
BB Lower: $27.29
NEUTRAL
OBV: -449,715
Vol SMA 20: 48,920
Vol ROC: -58.20%
ATR: $1.26
True Range: $0.73
HV 20: 64.5%
HV 30: 58.2%
HV 60: 54.1%
Data Summary
Data Points: 447
Last Updated:
Date Range: 2025-02-05T00:00:00 – 2026-11-13T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL with a confidence level of 6/10
Key Drivers:
- Technical indicators suggest a range-bound market with potential for a breakout
- Options activity indicates high bullish sentiment, but IV is relatively low compared to historical volatility
- Recent news headlines are positive, but overall market context suggests caution
Technical Analysis
Trend Direction: Range-bound (short-term), Neutral (medium-term)
Support/Resistance Levels:
- SMA 20: $42.44
- Lower Bollinger Band: $40.44
Momentum Signals:
- RSI interpretation: Neutral (48.87)
- MACD signal: Bullish (0.11 / -0.05 / 0.15)
Volume Analysis: Volume is currently low compared to historical levels, suggesting institutional interest may be waning.
News & Sentiment Analysis
Recent Headlines Summary: Positive sentiment from Corbin Advisors' Industrial Sentiment Survey.
Sentiment Assessment: Positive (POSITIVE sentiment dominates recent news headlines).
Catalyst Identification: No significant earnings or product launch announcements in the near-term.
Market Narrative: Recent news aligns with technical signals, suggesting a range-bound market with potential for a breakout.
Risk & Volatility Assessment
Beta Interpretation: High risk relative to the market (beta = 1.94).
Volatility Regime: Historical volatility is relatively high compared to current levels.
Options Market Signals:
- IV rank: Low (6.2%)
- Current IV: 55.0%
- Expected Move: $4.75
- Put/Call Volume Ratio: 0.00
Market Context & Positioning
Sector Performance: Industrial sector is performing relatively well compared to the broader market.
Institutional Activity: Institutional interest has been waning in recent weeks, suggesting potential for a short-term reversal.
Correlation Analysis: Stock moves are relatively independent of the broader market (R-squared = 0.46).
Key Levels & Action Items
Critical Price Levels:
- SMA 20: $42.44
- Lower Bollinger Band: $40.44
Breakout/Breakdown Levels: None identified at this time.
Time-Sensitive Catalysts: No significant earnings or product launch announcements in the near-term.
Risk Management: Stop-loss levels should be set around the SMA 20 and lower Bollinger Band to manage risk.
Please note that this analysis is based on the provided data and does not constitute investment advice. It is essential to consider additional factors, such as your personal financial situation, investment goals, and risk tolerance, before making any investment decisions.
Generated
News
All KDEF news →
KDEF Options Activity & IV Rank
KDEF IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 57.0%
7-DTE IV: 79.6%
Expected Move: $4.25
7-DTE Move: $2.20
Days to Exp: 35 (2026-12-18)
Options Flow · All expiries
Call Volume: 315
Put Volume: 73
P/C Volume: 0.232
BULLISH
Call OI: 772
Put OI: 151
P/C OI: 0.196
Total OI: 923
ATM Options Pricing
ATM Call: $1.77
ATM Put: $2.48
Call %: 5.8%
Put %: 8.1%
Chain Summary
Chain Volume: 388
Chain OI: 923
Last Updated: 11/13/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 48th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
48%
vs own history
GEX tilt
+0.46
OI-weighted, today
Vanna tilt
+0.12
δ-sensitivity to IV
Charm tilt
-0.92
δ-decay vs time
Charm tilt -0.92: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 3 ATM contracts, 0k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Put vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Call vs ATM
IV(call wing) − IV(ATM), in vol pointsThe same measure on the upside: how the OTM call is priced against the at-the-money strike.
- Negative (typical) — calls trade below ATM for most stocks and indices, so the sign alone says little.
- Percentile vs own history: high = upside calls unusually rich for this name (squeezes, takeover talk, commodity supply scares); low = calls cheaper than usual.
Reading them together
Put or call vs ATM tells you how expensive that tail is. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d put
—
—
pts
EXTREME
as of Nov 13 · No data
30 DTE / 10d put
—
—
pts
EXTREME
as of Nov 13 · ATM 55.5% / Put —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)23.9LowNov 13
IV Rank (30 DTE)50.4MediumNov 13
Straddle Price (30 DTE)$4.25Nov 13
Beta Analysis
Risk Metrics
Beta: 2.1208
Alpha: -43.65%
Correlation: 0.5086
R-Squared: 25.9%
Stock Volatility: 56.9%
Market Volatility: 13.6%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
KDEF Institutional Ownership (13F)
Filings for 2026-06-30 · 11 already for 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
1 filers$1.17M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $1.17M | 100.00% | 2026-06-30 |
2 filers$1.27M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Point72 Asset Management, L.P. | $810.00K | 63.69% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $461.70K | 36.31% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
20.88K
SI % of Float
—
Days to Cover
1.00
Short Vol Ratio
26.8%
Free Float
—
Float %
—
Short interest 2026-10-30 • Short volume 2026-11-13
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|