AM.PA vs. DFEN.DE
AM.PA (Dassault Aviation SA) is a stock, while DFEN.DE (VanEck Defense UCITS ETF A) is Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Over the past 3 years, AM.PA returned 22.09%/yr vs 37.43%/yr for DFEN.DE. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
AM.PA vs. DFEN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AM.PA achieves a 10.33% return, which is significantly higher than DFEN.DE's 3.04% return.
AM.PA
- 1D
- -1.07%
- 1M
- 6.74%
- YTD
- 10.33%
- 6M
- 10.98%
- 1Y
- -0.89%
- 3Y*
- 22.09%
- 5Y*
- 25.58%
- 10Y*
- 19.12%
DFEN.DE
- 1D
- 0.60%
- 1M
- 2.28%
- YTD
- 3.04%
- 6M
- 4.46%
- 1Y
- 14.07%
- 3Y*
- 37.43%
- 5Y*
- —
- 10Y*
- —
AM.PA vs. DFEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AM.PA Dassault Aviation SA | 10.33% | 40.99% | 11.84% | -0.49% |
DFEN.DE VanEck Defense UCITS ETF A | 3.04% | 50.76% | 51.97% | 22.65% |
Correlation
The correlation between AM.PA and DFEN.DE is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.53 |
The correlation between AM.PA and DFEN.DE has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.
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Return for Risk
AM.PA vs. DFEN.DE — Risk / Return Rank
AM.PA
DFEN.DE
AM.PA vs. DFEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dassault Aviation SA (AM.PA) and VanEck Defense UCITS ETF A (DFEN.DE). 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.
| AM.PA | DFEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.11 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 0.74 | -0.78 |
| Martin ratioReturn relative to average drawdown | -0.09 | 1.72 | -1.81 |
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Drawdowns
AM.PA vs. DFEN.DE - Drawdown Comparison
The maximum AM.PA drawdown since its inception was -55.76%, which is greater than DFEN.DE's maximum drawdown of -18.88%. Use the drawdown chart below to compare losses from any high point for AM.PA and DFEN.DE.
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Drawdown Indicators
| AM.PA | DFEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.76% | -18.88% | -36.88% |
Max Drawdown (1Y)Largest decline over 1 year | -20.80% | -18.88% | -1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -22.02% | -18.88% | -3.14% |
Max Drawdown (5Y)Largest decline over 5 years | -29.32% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.76% | — | — |
Current DrawdownCurrent decline from peak | -14.52% | -16.01% | +1.49% |
Average DrawdownAverage peak-to-trough decline | -12.09% | -3.25% | -8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.11% | 8.15% | +1.96% |
Volatility
AM.PA vs. DFEN.DE - Volatility Comparison
Dassault Aviation SA (AM.PA) has a higher volatility of 7.81% compared to VanEck Defense UCITS ETF A (DFEN.DE) at 7.34%. This indicates that AM.PA's price experiences larger fluctuations and is considered to be riskier than DFEN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AM.PA | DFEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.81% | 7.34% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 24.02% | 19.34% | +4.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.73% | 25.01% | +5.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.14% | 21.22% | +7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.96% | 21.22% | +8.74% |
Dividends
AM.PA vs. DFEN.DE - Dividend Comparison
AM.PA's dividend yield for the trailing twelve months is around 1.61%, while DFEN.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM.PA Dassault Aviation SA | 1.61% | 1.72% | 1.71% | 1.67% | 1.57% | 12.95% | 0.00% | 18.12% | 12.64% | 9.32% | 11.40% | 8.72% |
DFEN.DE VanEck Defense UCITS ETF A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AM.PA and DFEN.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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