DFEN.DE vs. G2X.DE
DFEN.DE (VanEck Defense UCITS ETF A) and G2X.DE (VanEck Gold Miners UCITS ETF) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while G2X.DE is a Precious Metals fund tracking the NYSE Arca Gold Miners. Both are passively managed. Over the past year, DFEN.DE returned 14.03% vs 61.05% for G2X.DE. At a 0.20 correlation, their price movements are largely independent. DFEN.DE charges 0.55%/yr vs 0.53%/yr for G2X.DE.
Performance
DFEN.DE vs. G2X.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 G2X.DE's -1.03% return.
DFEN.DE
- 1D
- 0.30%
- 1M
- -3.33%
- YTD
- 4.02%
- 6M
- 6.91%
- 1Y
- 14.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
G2X.DE
- 1D
- 1.09%
- 1M
- 0.55%
- YTD
- -1.03%
- 6M
- 7.50%
- 1Y
- 61.05%
- 3Y*
- 37.60%
- 5Y*
- 20.05%
- 10Y*
- 13.83%
DFEN.DE vs. G2X.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 4.02% | 50.76% | 51.97% | 8.67% |
G2X.DE VanEck Gold Miners UCITS ETF | -1.03% | 131.13% | 17.55% | 0.13% |
Correlation
The correlation between DFEN.DE and G2X.DE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023 | 0.20 |
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Return for Risk
DFEN.DE vs. G2X.DE — Risk / Return Rank
DFEN.DE
G2X.DE
DFEN.DE vs. G2X.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and VanEck Gold Miners UCITS ETF (G2X.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 | G2X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 2.18 | -1.43 |
| Martin ratioReturn relative to average drawdown | 1.81 | 5.49 | -3.68 |
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 | G2X.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 1.42 | -0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.60 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.75 | 0.44 | +1.32 |
Drawdowns
DFEN.DE vs. G2X.DE - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.60%, smaller than the maximum G2X.DE drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and G2X.DE.
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Drawdown Indicators
| DFEN.DE | G2X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.60% | -46.04% | +27.44% |
Max Drawdown (1Y)Largest decline over 1 year | -18.60% | -27.90% | +9.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.04% | — |
Current DrawdownCurrent decline from peak | -15.21% | -23.34% | +8.13% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -19.92% | +16.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.72% | 11.09% | -3.37% |
Volatility
DFEN.DE vs. G2X.DE - Volatility Comparison
The current volatility for VanEck Defense UCITS ETF A (DFEN.DE) is 7.38%, while VanEck Gold Miners UCITS ETF (G2X.DE) has a volatility of 13.57%. This indicates that DFEN.DE experiences smaller price fluctuations and is considered to be less risky than G2X.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 | G2X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 13.57% | -6.19% |
Volatility (6M)Calculated over the trailing 6-month period | 19.16% | 34.36% | -15.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.79% | 42.64% | -17.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 33.16% | -11.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.47% | 32.33% | -10.86% |
DFEN.DE vs. G2X.DE - Expense Ratio Comparison
DFEN.DE has a 0.55% expense ratio, which is higher than G2X.DE's 0.53% expense ratio.
Dividends
DFEN.DE vs. G2X.DE - Dividend Comparison
Neither DFEN.DE nor G2X.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEN.DE and G2X.DE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, G2X.DE is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.
G2X.DE is cheaper with a 0.53% expense ratio, compared with 0.55% for DFEN.DE.
DFEN.DE is categorized as Aerospace & Defense, while G2X.DE is Precious Metals. DFEN.DE tracks MarketVector Global Defense Industry Index, while G2X.DE tracks NYSE Arca Gold Miners. Their fees differ too: 0.55% for DFEN.DE and 0.53% for G2X.DE.
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