DFEN.DE vs. AHR

Last updated Jun 13, 2026

DFEN.DE (VanEck Defense UCITS ETF A) is Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while AHR (American Healthcare REIT, Inc.) is a stock. Over the past year, DFEN.DE returned 14.07% vs 34.48% for AHR. At a 0.07 correlation, their price movements are largely independent.

Performance

DFEN.DE vs. AHR - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Defense UCITS ETF A (DFEN.DE) and American Healthcare REIT, Inc. (AHR). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DFEN.DE is traded in EUR, while AHR is traded in USD. To make them comparable, the AHR values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, DFEN.DE achieves a 3.04% return, which is significantly higher than AHR's 1.54% return.

DFEN.DE

• 1D: 0.60%
• 1M: 2.28%
• YTD: 3.04%
• 6M: 4.46%
• 1Y: 14.07%
• 3Y*: 37.43%
• 5Y*: —
• 10Y*: —

AHR

• 1D: 0.64%
• 1M: -8.15%
• YTD: 1.54%
• 6M: 1.61%
• 1Y: 34.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFEN.DE vs. AHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFEN.DE VanEck Defense UCITS ETF A	3.04%	50.76%	40.00%
AHR American Healthcare REIT, Inc.	1.54%	49.85%	142.67%

Correlation

The correlation between DFEN.DE and AHR is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Feb 7, 2024	0.07

Return for Risk

DFEN.DE vs. AHR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFEN.DE

DFEN.DE Risk / Return Rank: 19
DFEN.DE Sharpe Ratio Rank: 19
DFEN.DE Sortino Ratio Rank: 20
DFEN.DE Omega Ratio Rank: 19
DFEN.DE Calmar Ratio Rank: 20
DFEN.DE Martin Ratio Rank: 18

AHR

AHR Risk / Return Rank: 80
AHR Sharpe Ratio Rank: 82
AHR Sortino Ratio Rank: 77
AHR Omega Ratio Rank: 76
AHR Calmar Ratio Rank: 81
AHR Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFEN.DE vs. AHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and American Healthcare REIT, Inc. (AHR). 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.

	DFEN.DE	AHR	Difference
Sharpe ratio: Return per unit of total volatility	0.56	1.40	-0.84
Sortino ratio: Return per unit of downside risk	0.97	1.93	-0.96
Omega ratio: Gain probability vs. loss probability	1.11	1.25	-0.14
Calmar ratio: Return relative to maximum drawdown	0.74	2.59	-1.85
Martin ratio: Return relative to average drawdown	1.72	6.48	-4.76

DFEN.DE vs. AHR - Sharpe Ratio Comparison

The current DFEN.DE Sharpe Ratio is 0.56, which is lower than the AHR Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of DFEN.DE and AHR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFEN.DE vs. AHR - Drawdown Comparison

The maximum DFEN.DE drawdown since its inception was -18.88%, which is greater than AHR's maximum drawdown of -13.37%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and AHR.

Drawdown Indicators

	DFEN.DE	AHR	Difference
Max Drawdown Largest peak-to-trough decline	-18.88%	-13.37%	-5.51%
Max Drawdown (1Y) Largest decline over 1 year	-18.88%	-13.36%	-5.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	—	—
Current Drawdown Current decline from peak	-16.01%	-11.50%	-4.51%
Average Drawdown Average peak-to-trough decline	-3.25%	-3.35%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.15%	5.33%	+2.82%

Volatility

DFEN.DE vs. AHR - Volatility Comparison

The current volatility for VanEck Defense UCITS ETF A (DFEN.DE) is 7.34%, while American Healthcare REIT, Inc. (AHR) has a volatility of 9.12%. This indicates that DFEN.DE experiences smaller price fluctuations and is considered to be less risky than AHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEN.DE	AHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	9.12%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	19.34%	19.64%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	25.01%	24.73%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.22%	27.02%	-5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.22%	27.02%	-5.80%

Dividends

DFEN.DE vs. AHR - Dividend Comparison

DFEN.DE has not paid dividends to shareholders, while AHR's dividend yield for the trailing twelve months is around 2.14%.

Position	TTM	2025	2024
AHR American Healthcare REIT, Inc.	2.14%	2.12%	3.52%
DFEN.DE VanEck Defense UCITS ETF A	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFEN.DE and AHR in my portfolio?

DFEN.DE and AHR have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.