CNX1.L vs. DFEN.DE
CNX1.L (iShares NASDAQ 100 UCITS ETF USD (Acc)) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - CNX1.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past year, CNX1.L returned 40.87% vs 17.11% for DFEN.DE. At a 0.41 correlation, their price movements are largely independent. CNX1.L charges 0.36%/yr vs 0.55%/yr for DFEN.DE.
Performance
CNX1.L vs. DFEN.DE - Performance Comparison
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Different Trading Currencies
CNX1.L is traded in GBp, while DFEN.DE is traded in EUR. To make them comparable, the DFEN.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNX1.L achieves a 19.85% return, which is significantly higher than DFEN.DE's 3.20% return.
CNX1.L
- 1D
- -0.63%
- 1M
- 8.17%
- YTD
- 19.85%
- 6M
- 17.68%
- 1Y
- 40.87%
- 3Y*
- 24.68%
- 5Y*
- 18.83%
- 10Y*
- 22.43%
DFEN.DE
- 1D
- 0.42%
- 1M
- -3.11%
- YTD
- 3.20%
- 6M
- 5.87%
- 1Y
- 17.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CNX1.L vs. DFEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CNX1.L iShares NASDAQ 100 UCITS ETF USD (Acc) | 19.85% | 11.57% | 28.51% | 13.06% |
DFEN.DE VanEck Defense UCITS ETF A | 3.15% | 58.61% | 45.35% | 10.39% |
Correlation
The correlation between CNX1.L and DFEN.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023 | 0.41 |
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Return for Risk
CNX1.L vs. DFEN.DE — Risk / Return Rank
CNX1.L
DFEN.DE
CNX1.L vs. DFEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) 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.
| CNX1.L | DFEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.12 | ||
| Sortino ratioReturn per unit of downside risk | +2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.13 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 0.92 | +2.85 |
| Martin ratioReturn relative to average drawdown | 11.10 | 2.27 | +8.83 |
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
| CNX1.L | DFEN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.82 | 0.70 | +2.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 1.82 | -0.67 |
Drawdowns
CNX1.L vs. DFEN.DE - Drawdown Comparison
The maximum CNX1.L drawdown since its inception was -27.56%, which is greater than DFEN.DE's maximum drawdown of -18.56%. Use the drawdown chart below to compare losses from any high point for CNX1.L and DFEN.DE.
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Drawdown Indicators
| CNX1.L | DFEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.56% | -18.56% | -9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -18.56% | +7.53% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.56% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -15.42% | +14.79% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -3.21% | -1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 7.53% | -3.78% |
Volatility
CNX1.L vs. DFEN.DE - Volatility Comparison
The current volatility for iShares NASDAQ 100 UCITS ETF USD (Acc) (CNX1.L) is 4.13%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.45%. This indicates that CNX1.L 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
| CNX1.L | DFEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.13% | 7.45% | -3.32% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 18.60% | -8.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.70% | 24.33% | -9.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.16% | 21.07% | -1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.44% | 21.07% | -1.63% |
CNX1.L vs. DFEN.DE - Expense Ratio Comparison
CNX1.L has a 0.36% expense ratio, which is lower than DFEN.DE's 0.55% expense ratio.
Dividends
CNX1.L vs. DFEN.DE - Dividend Comparison
Neither CNX1.L nor DFEN.DE has paid dividends to shareholders.
Frequently Asked Questions
CNX1.L and DFEN.DE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNX1.L is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNX1.L is cheaper with a 0.36% expense ratio, compared with 0.55% for DFEN.DE.
CNX1.L is categorized as Nasdaq-100, while DFEN.DE is Aerospace & Defense. CNX1.L tracks NASDAQ-100 Index, while DFEN.DE tracks MarketVector Global Defense Industry Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.36% for CNX1.L and 0.55% for DFEN.DE.
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