DFEN.DE vs. BTCE.DE
DFEN.DE (VanEck Defense UCITS ETF A) and BTCE.DE (ETC Group Physical Bitcoin) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while BTCE.DE is a Cryptocurrency fund actively managed by ETC Issuance. DFEN.DE is passively managed, while BTCE.DE is actively managed. Over the past 3 years, DFEN.DE returned 37.67%/yr vs 28.04%/yr for BTCE.DE. At a 0.28 correlation, their price movements are largely independent. DFEN.DE charges 0.55%/yr vs 2.00%/yr for BTCE.DE.
Performance
DFEN.DE vs. BTCE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DFEN.DE achieves a 1.84% return, which is significantly higher than BTCE.DE's -27.02% return.
DFEN.DE
- 1D
- 0.53%
- 1M
- -0.93%
- YTD
- 1.84%
- 6M
- 3.89%
- 1Y
- 10.60%
- 3Y*
- 37.67%
- 5Y*
- —
- 10Y*
- —
BTCE.DE
- 1D
- -3.79%
- 1M
- -19.04%
- YTD
- -27.02%
- 6M
- -29.77%
- 1Y
- -41.51%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
DFEN.DE vs. BTCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 1.84% | 50.76% | 51.97% | 22.65% |
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 125.79% | 49.35% |
Correlation
The correlation between DFEN.DE and BTCE.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.28 |
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Return for Risk
DFEN.DE vs. BTCE.DE — Risk / Return Rank
DFEN.DE
BTCE.DE
DFEN.DE vs. BTCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and ETC Group Physical Bitcoin (BTCE.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 | BTCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.51 | ||
| Sortino ratioReturn per unit of downside risk | +2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.83 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | -0.83 | +1.46 |
| Martin ratioReturn relative to average drawdown | 1.46 | -1.46 | +2.92 |
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 | BTCE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | -1.04 | +1.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.20 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.84 | 0.58 | +1.26 |
Drawdowns
DFEN.DE vs. BTCE.DE - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.60%, smaller than the maximum BTCE.DE drawdown of -74.62%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and BTCE.DE.
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Drawdown Indicators
| DFEN.DE | BTCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.60% | -74.62% | +56.02% |
Max Drawdown (1Y)Largest decline over 1 year | -18.60% | -49.76% | +31.16% |
Max Drawdown (3Y)Largest decline over 3 years | -18.60% | -49.76% | +31.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -74.62% | — |
Current DrawdownCurrent decline from peak | -16.99% | -49.27% | +32.28% |
Average DrawdownAverage peak-to-trough decline | -3.20% | -30.28% | +27.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.93% | 28.52% | -20.59% |
Volatility
DFEN.DE vs. BTCE.DE - Volatility Comparison
The current volatility for VanEck Defense UCITS ETF A (DFEN.DE) is 7.01%, while ETC Group Physical Bitcoin (BTCE.DE) has a volatility of 9.82%. This indicates that DFEN.DE experiences smaller price fluctuations and is considered to be less risky than BTCE.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 | BTCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 9.82% | -2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 19.21% | 31.25% | -12.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.92% | 39.81% | -14.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.20% | 52.58% | -31.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 57.85% | -36.65% |
DFEN.DE vs. BTCE.DE - Expense Ratio Comparison
DFEN.DE has a 0.55% expense ratio, which is lower than BTCE.DE's 2.00% expense ratio.
Dividends
DFEN.DE vs. BTCE.DE - Dividend Comparison
Neither DFEN.DE nor BTCE.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEN.DE and BTCE.DE have a correlation of 0.35, 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 2.00% for BTCE.DE.
DFEN.DE is categorized as Aerospace & Defense, while BTCE.DE is Cryptocurrency. They also come from different issuers: VanEck and ETC Issuance. Their fees differ too: 0.55% for DFEN.DE and 2.00% for BTCE.DE.
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