ARMY vs. XDEF

Last updated Aug 2, 2026

ARMY (Tema International Defense ETF) and XDEF (Xtrackers Europe Defense Technologies ETF) are both Aerospace & Defense funds. ARMY is actively managed, while XDEF is passively managed. Their correlation of 0.93 means they have usually moved in the same direction. ARMY charges 0.68%/yr vs 0.35%/yr for XDEF.

Performance

ARMY vs. XDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema International Defense ETF (ARMY) and Xtrackers Europe Defense Technologies ETF (XDEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ARMY

• 1D: 0.13%
• 1M: -0.13%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

XDEF

• 1D: -0.02%
• 1M: 1.13%
• 6M: -99.17%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
ARMY Tema International Defense ETF	$60.49K	$59.12K	$65.58K
XDEF Xtrackers Europe Defense Technologies ETF	$25.38K	$19.51K	$30.56K

ARMY vs. XDEF - Yearly Performance Comparison

	2026 (YTD)
ARMY Tema International Defense ETF	2.13%
XDEF Xtrackers Europe Defense Technologies ETF	9.05%

Correlation

The correlation between ARMY and XDEF is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 31, 2026	0.93

Return for Risk

ARMY vs. XDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema International Defense ETF (ARMY) and Xtrackers Europe Defense Technologies ETF (XDEF). 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.

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

Drawdowns

ARMY vs. XDEF - Drawdown Comparison

The maximum ARMY drawdown since its inception was -16.37%, smaller than the maximum XDEF drawdown of -99.30%. Use the drawdown chart below to compare losses from any high point for ARMY and XDEF.

Drawdown Indicators

	ARMY	XDEF	Difference
Max Drawdown Largest peak-to-trough decline	-16.37%	-99.30%	+82.93%
Current Drawdown Current decline from peak	-6.39%	-99.21%	+92.82%
Average Drawdown Average peak-to-trough decline	-7.53%	-77.91%	+70.38%

Volatility

Volatility by Period

	ARMY	XDEF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	31.33%	134.34%	-103.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.33%	134.34%	-103.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.33%	134.34%	-103.01%

ARMY vs. XDEF - Expense Ratio Comparison

ARMY has a 0.68% expense ratio, which is higher than XDEF's 0.35% expense ratio.

Dividends

ARMY vs. XDEF - Dividend Comparison

ARMY has not paid dividends to shareholders, while XDEF's dividend yield for the trailing twelve months is around 1.41%.

Position	TTM
ARMY Tema International Defense ETF	0.00%
XDEF Xtrackers Europe Defense Technologies ETF	1.41%

Frequently Asked Questions

Can I hold both ARMY and XDEF in my portfolio?

With a correlation of 0.93, ARMY and XDEF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ARMY or XDEF?

On fees, XDEF is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARMY or XDEF?

XDEF is cheaper with a 0.35% expense ratio, compared with 0.68% for ARMY.

Which ETF pays a higher dividend yield, ARMY or XDEF?

XDEF has the higher dividend yield at 1.41%, compared with 0.00% for ARMY.

What is the main difference between ARMY and XDEF?

They also come from different issuers: Tema and Xtrackers. Their fees differ too: 0.68% for ARMY and 0.35% for XDEF.