CSJP.L vs. DFNG.L
CSJP.L (iShares MSCI Japan UCITS ETF USD (Acc)) and DFNG.L (VanEck Defense ETF A USD Acc GBP) are both exchange-traded funds - CSJP.L is a Japan Equities fund tracking the TOPIX TR JPY, while DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index. Both are passively managed. Over the past 3 years, CSJP.L returned 15.57%/yr vs 39.23%/yr for DFNG.L. At a 0.31 correlation, their price movements are largely independent. CSJP.L charges 0.48%/yr vs 0.55%/yr for DFNG.L.
Performance
CSJP.L vs. DFNG.L - Performance Comparison
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Different Trading Currencies
CSJP.L is traded in GBp, while DFNG.L is traded in GBP. To make them comparable, the DFNG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSJP.L achieves a 16.41% return, which is significantly higher than DFNG.L's 3.59% return.
CSJP.L
- 1D
- -0.24%
- 1M
- 6.26%
- YTD
- 16.41%
- 6M
- 15.60%
- 1Y
- 34.17%
- 3Y*
- 15.57%
- 5Y*
- 10.06%
- 10Y*
- 10.09%
DFNG.L
- 1D
- 0.47%
- 1M
- -3.43%
- YTD
- 3.59%
- 6M
- 5.95%
- 1Y
- 17.04%
- 3Y*
- 39.23%
- 5Y*
- —
- 10Y*
- —
CSJP.L vs. DFNG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CSJP.L iShares MSCI Japan UCITS ETF USD (Acc) | 16.41% | 17.48% | 9.01% | 10.86% |
DFNG.L VanEck Defense ETF A USD Acc GBP | 3.59% | 56.54% | 46.20% | 22.89% |
Correlation
The correlation between CSJP.L and DFNG.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.31 |
The correlation between CSJP.L and DFNG.L shifts across timeframes, from 0.15 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CSJP.L vs. DFNG.L — Risk / Return Rank
CSJP.L
DFNG.L
CSJP.L vs. DFNG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) and VanEck Defense ETF A USD Acc GBP (DFNG.L). 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.
| CSJP.L | DFNG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.14 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 0.92 | +2.32 |
| Martin ratioReturn relative to average drawdown | 10.33 | 2.28 | +8.05 |
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
| CSJP.L | DFNG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 0.70 | +1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 1.97 | -1.34 |
Drawdowns
CSJP.L vs. DFNG.L - Drawdown Comparison
The maximum CSJP.L drawdown since its inception was -24.31%, which is greater than DFNG.L's maximum drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for CSJP.L and DFNG.L.
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Drawdown Indicators
| CSJP.L | DFNG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.31% | -18.38% | -5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.49% | -18.38% | +7.89% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -18.38% | +4.06% |
Max Drawdown (5Y)Largest decline over 5 years | -18.68% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.31% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -15.37% | +15.13% |
Average DrawdownAverage peak-to-trough decline | -6.10% | -3.13% | -2.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 7.46% | -4.16% |
Volatility
CSJP.L vs. DFNG.L - Volatility Comparison
The current volatility for iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) is 3.77%, while VanEck Defense ETF A USD Acc GBP (DFNG.L) has a volatility of 7.88%. This indicates that CSJP.L experiences smaller price fluctuations and is considered to be less risky than DFNG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSJP.L | DFNG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 7.88% | -4.11% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 18.71% | -3.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.35% | 24.17% | -5.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 20.38% | -4.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.96% | 20.38% | -4.42% |
CSJP.L vs. DFNG.L - Expense Ratio Comparison
CSJP.L has a 0.48% expense ratio, which is lower than DFNG.L's 0.55% expense ratio.
Dividends
CSJP.L vs. DFNG.L - Dividend Comparison
Neither CSJP.L nor DFNG.L has paid dividends to shareholders.
Frequently Asked Questions
CSJP.L and DFNG.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSJP.L is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSJP.L is cheaper with a 0.48% expense ratio, compared with 0.55% for DFNG.L.
CSJP.L is categorized as Japan Equities, while DFNG.L is Aerospace & Defense. CSJP.L tracks TOPIX TR JPY, while DFNG.L tracks MarketVector Global Defense Industry index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.48% for CSJP.L and 0.55% for DFNG.L.
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