DFEN.DE vs. AYEP.DE
DFEN.DE (VanEck Defense UCITS ETF A) and AYEP.DE (iShares Asia Property Yield UCITS ETF USD Acc) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while AYEP.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed Asia Dividend+. Both are passively managed. Over the past year, DFEN.DE returned 14.03% vs 4.48% for AYEP.DE. At a 0.30 correlation, their price movements are largely independent. DFEN.DE charges 0.55%/yr vs 0.59%/yr for AYEP.DE.
Performance
DFEN.DE vs. AYEP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DFEN.DE achieves a 4.02% return, which is significantly higher than AYEP.DE's -5.35% return.
DFEN.DE
- 1D
- 0.30%
- 1M
- -3.33%
- YTD
- 4.02%
- 6M
- 6.91%
- 1Y
- 14.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AYEP.DE
- 1D
- -0.02%
- 1M
- -6.11%
- YTD
- -5.35%
- 6M
- -4.80%
- 1Y
- 4.48%
- 3Y*
- 0.62%
- 5Y*
- -1.21%
- 10Y*
- —
DFEN.DE vs. AYEP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 4.02% | 50.76% | 51.97% | 8.67% |
AYEP.DE iShares Asia Property Yield UCITS ETF USD Acc | -5.35% | 15.89% | -4.24% | -1.08% |
Correlation
The correlation between DFEN.DE and AYEP.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023 | 0.30 |
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Return for Risk
DFEN.DE vs. AYEP.DE — Risk / Return Rank
DFEN.DE
AYEP.DE
DFEN.DE vs. AYEP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and iShares Asia Property Yield UCITS ETF USD Acc (AYEP.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.
| DFEN.DE | AYEP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.08 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 0.36 | +0.39 |
| Martin ratioReturn relative to average drawdown | 1.81 | 1.10 | +0.71 |
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
| DFEN.DE | AYEP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 0.41 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.75 | 0.00 | +1.75 |
Drawdowns
DFEN.DE vs. AYEP.DE - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.60%, smaller than the maximum AYEP.DE drawdown of -38.46%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and AYEP.DE.
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Drawdown Indicators
| DFEN.DE | AYEP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.60% | -38.46% | +19.86% |
Max Drawdown (1Y)Largest decline over 1 year | -18.60% | -12.31% | -6.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.31% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.65% | — |
Current DrawdownCurrent decline from peak | -15.21% | -16.71% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -15.03% | +11.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.72% | 4.07% | +3.65% |
Volatility
DFEN.DE vs. AYEP.DE - Volatility Comparison
VanEck Defense UCITS ETF A (DFEN.DE) has a higher volatility of 7.38% compared to iShares Asia Property Yield UCITS ETF USD Acc (AYEP.DE) at 2.79%. This indicates that DFEN.DE's price experiences larger fluctuations and is considered to be riskier than AYEP.DE 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 | AYEP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 2.79% | +4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 19.16% | 8.31% | +10.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.79% | 10.94% | +13.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 11.71% | +9.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 15.43% | +6.04% |
DFEN.DE vs. AYEP.DE - Expense Ratio Comparison
DFEN.DE has a 0.55% expense ratio, which is lower than AYEP.DE's 0.59% expense ratio.
Dividends
DFEN.DE vs. AYEP.DE - Dividend Comparison
Neither DFEN.DE nor AYEP.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEN.DE and AYEP.DE have a correlation of 0.23, 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 0.59% for AYEP.DE.
DFEN.DE is categorized as Aerospace & Defense, while AYEP.DE is REIT. DFEN.DE tracks MarketVector Global Defense Industry Index, while AYEP.DE tracks FTSE EPRA/NAREIT Developed Asia Dividend+. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFEN.DE and 0.59% for AYEP.DE.
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