CNIE.DE vs. DFEN.DE
CNIE.DE (VanEck New China ESG UCITS ETF A) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - CNIE.DE is a China Equities fund tracking the MarketGrader New China ESG, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past year, CNIE.DE returned 6.61% vs 12.18% for DFEN.DE. At a 0.13 correlation, their price movements are largely independent. CNIE.DE charges 0.60%/yr vs 0.55%/yr for DFEN.DE.
Performance
CNIE.DE vs. DFEN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CNIE.DE achieves a -3.41% return, which is significantly lower than DFEN.DE's 4.02% return.
CNIE.DE
- 1D
- -0.76%
- 1M
- -3.01%
- YTD
- -3.41%
- 6M
- -5.32%
- 1Y
- 6.61%
- 3Y*
- -0.19%
- 5Y*
- —
- 10Y*
- —
DFEN.DE
- 1D
- 0.30%
- 1M
- -2.84%
- YTD
- 4.02%
- 6M
- 8.12%
- 1Y
- 12.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CNIE.DE vs. DFEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CNIE.DE VanEck New China ESG UCITS ETF A | -3.41% | 8.76% | 7.28% | -13.53% |
DFEN.DE VanEck Defense UCITS ETF A | 4.02% | 50.76% | 51.97% | 8.67% |
Correlation
The correlation between CNIE.DE and DFEN.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023 | 0.13 |
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Return for Risk
CNIE.DE vs. DFEN.DE — Risk / Return Rank
CNIE.DE
DFEN.DE
CNIE.DE vs. DFEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck New China ESG UCITS ETF A (CNIE.DE) 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.
| CNIE.DE | DFEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.11 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.75 | -0.22 |
| Martin ratioReturn relative to average drawdown | 1.17 | 1.81 | -0.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNIE.DE | DFEN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 0.56 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 1.75 | -1.91 |
Drawdowns
CNIE.DE vs. DFEN.DE - Drawdown Comparison
The maximum CNIE.DE drawdown since its inception was -45.69%, which is greater than DFEN.DE's maximum drawdown of -18.60%. Use the drawdown chart below to compare losses from any high point for CNIE.DE and DFEN.DE.
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Drawdown Indicators
| CNIE.DE | DFEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.69% | -18.60% | -27.09% |
Max Drawdown (1Y)Largest decline over 1 year | -12.45% | -18.60% | +6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -29.20% | — | — |
Current DrawdownCurrent decline from peak | -25.25% | -15.21% | -10.04% |
Average DrawdownAverage peak-to-trough decline | -24.67% | -3.27% | -21.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.70% | 7.72% | -2.02% |
Volatility
CNIE.DE vs. DFEN.DE - Volatility Comparison
The current volatility for VanEck New China ESG UCITS ETF A (CNIE.DE) is 4.49%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.38%. This indicates that CNIE.DE experiences smaller price fluctuations and is considered to be less risky 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
| CNIE.DE | DFEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 7.38% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.68% | 19.16% | -8.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.04% | 24.79% | -8.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.27% | 21.47% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.27% | 21.47% | +2.80% |
CNIE.DE vs. DFEN.DE - Expense Ratio Comparison
CNIE.DE has a 0.60% expense ratio, which is higher than DFEN.DE's 0.55% expense ratio.
Dividends
CNIE.DE vs. DFEN.DE - Dividend Comparison
Neither CNIE.DE nor DFEN.DE has paid dividends to shareholders.
Frequently Asked Questions
CNIE.DE and DFEN.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DFEN.DE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DFEN.DE is cheaper with a 0.55% expense ratio, compared with 0.60% for CNIE.DE.
CNIE.DE is categorized as China Equities, while DFEN.DE is Aerospace & Defense. CNIE.DE tracks MarketGrader New China ESG, while DFEN.DE tracks MarketVector Global Defense Industry Index. Their fees differ too: 0.60% for CNIE.DE and 0.55% for DFEN.DE.
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