DFEN.DE vs. IS3N.DE
DFEN.DE (VanEck Defense UCITS ETF A) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI). Both are passively managed. Over the past 3 years, DFEN.DE returned 37.43%/yr vs 18.80%/yr for IS3N.DE. At a 0.37 correlation, their price movements are largely independent. DFEN.DE charges 0.55%/yr vs 0.18%/yr for IS3N.DE.
Performance
DFEN.DE vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DFEN.DE achieves a 3.04% return, which is significantly lower than IS3N.DE's 24.88% return.
DFEN.DE
- 1D
- 0.60%
- 1M
- 0.90%
- YTD
- 3.04%
- 6M
- 4.46%
- 1Y
- 11.89%
- 3Y*
- 37.43%
- 5Y*
- —
- 10Y*
- —
IS3N.DE
- 1D
- 3.12%
- 1M
- 1.48%
- YTD
- 24.88%
- 6M
- 27.74%
- 1Y
- 45.03%
- 3Y*
- 18.80%
- 5Y*
- 8.46%
- 10Y*
- 10.23%
DFEN.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 3.04% | 50.76% | 51.97% | 22.65% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 24.88% | 17.14% | 13.88% | 5.78% |
Correlation
The correlation between DFEN.DE and IS3N.DE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.37 |
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Return for Risk
DFEN.DE vs. IS3N.DE — Risk / Return Rank
DFEN.DE
IS3N.DE
DFEN.DE vs. IS3N.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 Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DFEN.DE | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.44 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 4.10 | -3.36 |
| Martin ratioReturn relative to average drawdown | 1.72 | 14.25 | -12.53 |
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Drawdowns
DFEN.DE vs. IS3N.DE - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.88%, smaller than the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and IS3N.DE.
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Drawdown Indicators
| DFEN.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.88% | -35.06% | +16.18% |
Max Drawdown (1Y)Largest decline over 1 year | -18.88% | -10.52% | -8.36% |
Max Drawdown (3Y)Largest decline over 3 years | -18.88% | -19.18% | +0.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.51% | — |
Current DrawdownCurrent decline from peak | -16.01% | -3.21% | -12.80% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -9.27% | +6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 3.03% | +5.12% |
Volatility
DFEN.DE vs. IS3N.DE - Volatility Comparison
VanEck Defense UCITS ETF A (DFEN.DE) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) have volatilities of 7.34% and 7.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEN.DE | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.34% | 7.31% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 19.34% | 15.53% | +3.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.01% | 18.01% | +7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.22% | 16.34% | +4.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.22% | 18.08% | +3.14% |
DFEN.DE vs. IS3N.DE - Expense Ratio Comparison
DFEN.DE has a 0.55% expense ratio, which is higher than IS3N.DE's 0.18% expense ratio.
Dividends
DFEN.DE vs. IS3N.DE - Dividend Comparison
Neither DFEN.DE nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEN.DE and IS3N.DE have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3N.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3N.DE is cheaper with a 0.18% expense ratio, compared with 0.55% for DFEN.DE.
DFEN.DE is categorized as Aerospace & Defense, while IS3N.DE is Emerging Markets Equities. DFEN.DE tracks MarketVector Global Defense Industry Index, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFEN.DE and 0.18% for IS3N.DE.
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