DFEN.DE vs. DFND.AS

Last updated Apr 1, 2026

Compare and contrast key facts about VanEck Defense UCITS ETF A (DFEN.DE) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS).

DFEN.DE and DFND.AS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFEN.DE is a passively managed fund by VanEck that tracks the performance of the MarketVector Global Defense Industry. It was launched on Mar 31, 2023. DFND.AS is a passively managed fund by iShares that tracks the performance of the S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. It was launched on Feb 1, 2024. Both DFEN.DE and DFND.AS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DFEN.DE vs. DFND.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Defense UCITS ETF A (DFEN.DE) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). The values are adjusted to include any dividend payments, if applicable.

DFEN.DE vs. DFND.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFEN.DE VanEck Defense UCITS ETF A	8.44%	50.76%	31.30%
DFND.AS iShares Global Aerospace & Defence UCITS ETF	0.00%	0.00%	19.34%

Different Trading Currencies

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

Returns By Period

DFEN.DE

• 1D: 0.18%
• 1M: -3.97%
• YTD: 8.44%
• 6M: 2.37%
• 1Y: 39.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFND.AS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFEN.DE vs. DFND.AS - Expense Ratio Comparison

DFEN.DE has a 0.55% expense ratio, which is higher than DFND.AS's 0.35% expense ratio.

DFEN.DE

VanEck Defense UCITS ETF A

DFND.AS

iShares Global Aerospace & Defence UCITS ETF

Return for Risk

DFEN.DE vs. DFND.AS — 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: 79
DFEN.DE Sharpe Ratio Rank: 82
DFEN.DE Sortino Ratio Rank: 84
DFEN.DE Omega Ratio Rank: 74
DFEN.DE Calmar Ratio Rank: 87
DFEN.DE Martin Ratio Rank: 69

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. DFND.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). 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	DFND.AS	Difference
Sharpe ratio Return per unit of total volatility	1.53	—	—
Sortino ratio Return per unit of downside risk	2.14	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	2.65	—	—
Martin ratio Return relative to average drawdown	6.56	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DFEN.DE	DFND.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.01	—	—

Correlation

The correlation between DFEN.DE and DFND.AS is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DFEN.DE vs. DFND.AS - Dividend Comparison

Neither DFEN.DE nor DFND.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

Drawdown Indicators

	DFEN.DE	DFND.AS	Difference
Max Drawdown Largest peak-to-trough decline	-14.00%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.00%	—	—
Current Drawdown Current decline from peak	-11.61%	—	—
Average Drawdown Average peak-to-trough decline	-2.71%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.65%	—	—

Volatility

Volatility by Period

	DFEN.DE	DFND.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.80%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.18%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	—	—