DFEN.DE vs. CLOA.DE
DFEN.DE (VanEck Defense UCITS ETF A) and CLOA.DE (Invesco EUR AAA CLO UCITS ETF Acc) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while CLOA.DE is a CLO fund tracking the J.P. Morgan European Collateralized Loan Obligation AAA-only Index. Both are passively managed. Over the past year, DFEN.DE returned 14.03% vs 3.46% for CLOA.DE. At a correlation of -0.10, they often move in opposite directions. DFEN.DE charges 0.55%/yr vs 0.25%/yr for CLOA.DE.
Performance
DFEN.DE vs. CLOA.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DFEN.DE achieves a 4.02% return, which is significantly higher than CLOA.DE's 1.37% return.
DFEN.DE
- 1D
- 0.30%
- 1M
- -3.33%
- YTD
- 4.02%
- 6M
- 6.91%
- 1Y
- 14.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLOA.DE
- 1D
- 0.11%
- 1M
- 0.39%
- YTD
- 1.37%
- 6M
- 1.66%
- 1Y
- 3.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFEN.DE vs. CLOA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 4.02% | 39.27% |
CLOA.DE Invesco EUR AAA CLO UCITS ETF Acc | 1.37% | 2.88% |
Correlation
The correlation between DFEN.DE and CLOA.DE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | -0.10 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DFEN.DE vs. CLOA.DE — Risk / Return Rank
DFEN.DE
CLOA.DE
DFEN.DE vs. CLOA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and Invesco EUR AAA CLO UCITS ETF Acc (CLOA.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 | CLOA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.55 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 11.09 | -10.34 |
| Martin ratioReturn relative to average drawdown | 1.81 | 35.06 | -33.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| DFEN.DE | CLOA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 2.68 | -2.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.75 | 2.31 | -0.56 |
Drawdowns
DFEN.DE vs. CLOA.DE - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.60%, which is greater than CLOA.DE's maximum drawdown of -0.49%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and CLOA.DE.
Loading charts...
Drawdown Indicators
| DFEN.DE | CLOA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.60% | -0.49% | -18.11% |
Max Drawdown (1Y)Largest decline over 1 year | -18.60% | -0.31% | -18.29% |
Current DrawdownCurrent decline from peak | -15.21% | -0.02% | -15.19% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -0.09% | -3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.72% | 0.10% | +7.62% |
Volatility
DFEN.DE vs. CLOA.DE - Volatility Comparison
VanEck Defense UCITS ETF A (DFEN.DE) has a higher volatility of 7.38% compared to Invesco EUR AAA CLO UCITS ETF Acc (CLOA.DE) at 0.43%. This indicates that DFEN.DE's price experiences larger fluctuations and is considered to be riskier than CLOA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DFEN.DE | CLOA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 0.43% | +6.95% |
Volatility (6M)Calculated over the trailing 6-month period | 19.16% | 0.95% | +18.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.79% | 1.30% | +23.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 1.42% | +20.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 1.42% | +20.05% |
DFEN.DE vs. CLOA.DE - Expense Ratio Comparison
DFEN.DE has a 0.55% expense ratio, which is higher than CLOA.DE's 0.25% expense ratio.
Dividends
DFEN.DE vs. CLOA.DE - Dividend Comparison
Neither DFEN.DE nor CLOA.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEN.DE and CLOA.DE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLOA.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLOA.DE is cheaper with a 0.25% expense ratio, compared with 0.55% for DFEN.DE.
DFEN.DE is categorized as Aerospace & Defense, while CLOA.DE is CLO. DFEN.DE tracks MarketVector Global Defense Industry Index, while CLOA.DE tracks J.P. Morgan European Collateralized Loan Obligation AAA-only Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.55% for DFEN.DE and 0.25% for CLOA.DE.
Find the right allocation for DFEN.DE and CLOA.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer