DFEN.DE vs. AM.PA
DFEN.DE (VanEck Defense UCITS ETF A) is Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while AM.PA (Dassault Aviation SA) is a stock. Over the past 3 years, DFEN.DE returned 37.43%/yr vs 22.09%/yr for AM.PA. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
DFEN.DE vs. AM.PA - Performance Comparison
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Returns By Period
In the year-to-date period, DFEN.DE achieves a 3.04% return, which is significantly lower than AM.PA's 10.33% return.
DFEN.DE
- 1D
- 0.60%
- 1M
- 2.28%
- YTD
- 3.04%
- 6M
- 4.46%
- 1Y
- 14.07%
- 3Y*
- 37.43%
- 5Y*
- —
- 10Y*
- —
AM.PA
- 1D
- -1.07%
- 1M
- 6.74%
- YTD
- 10.33%
- 6M
- 10.98%
- 1Y
- -0.89%
- 3Y*
- 22.09%
- 5Y*
- 25.58%
- 10Y*
- 19.12%
DFEN.DE vs. AM.PA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 3.04% | 50.76% | 51.97% | 22.65% |
AM.PA Dassault Aviation SA | 10.33% | 40.99% | 11.84% | -0.49% |
Correlation
The correlation between DFEN.DE and AM.PA is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.53 |
The correlation between DFEN.DE and AM.PA has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.
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Return for Risk
DFEN.DE vs. AM.PA — Risk / Return Rank
DFEN.DE
AM.PA
DFEN.DE vs. AM.PA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and Dassault Aviation SA (AM.PA). 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 | AM.PA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.02 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | -0.04 | +0.78 |
| Martin ratioReturn relative to average drawdown | 1.72 | -0.09 | +1.81 |
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Drawdowns
DFEN.DE vs. AM.PA - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.88%, smaller than the maximum AM.PA drawdown of -55.76%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and AM.PA.
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Drawdown Indicators
| DFEN.DE | AM.PA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.88% | -55.76% | +36.88% |
Max Drawdown (1Y)Largest decline over 1 year | -18.88% | -20.80% | +1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -18.88% | -22.02% | +3.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.76% | — |
Current DrawdownCurrent decline from peak | -16.01% | -14.52% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -12.09% | +8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 10.11% | -1.96% |
Volatility
DFEN.DE vs. AM.PA - Volatility Comparison
The current volatility for VanEck Defense UCITS ETF A (DFEN.DE) is 7.34%, while Dassault Aviation SA (AM.PA) has a volatility of 7.81%. This indicates that DFEN.DE experiences smaller price fluctuations and is considered to be less risky than AM.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEN.DE | AM.PA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.34% | 7.81% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 19.34% | 24.02% | -4.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.01% | 30.73% | -5.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.22% | 29.14% | -7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.22% | 29.96% | -8.74% |
Dividends
DFEN.DE vs. AM.PA - Dividend Comparison
DFEN.DE has not paid dividends to shareholders, while AM.PA's dividend yield for the trailing twelve months is around 1.61%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM.PA Dassault Aviation SA | 1.61% | 1.72% | 1.71% | 1.67% | 1.57% | 12.95% | 0.00% | 18.12% | 12.64% | 9.32% | 11.40% | 8.72% |
DFEN.DE VanEck Defense UCITS ETF A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFEN.DE and AM.PA have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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