DFEN.DE vs. PPFB.DE
DFEN.DE (VanEck Defense UCITS ETF A) and PPFB.DE (iShares Physical Gold ETC) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while PPFB.DE is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 3 years, DFEN.DE returned 37.67%/yr vs 28.05%/yr for PPFB.DE. At a 0.13 correlation, their price movements are largely independent. DFEN.DE charges 0.55%/yr vs 0.12%/yr for PPFB.DE.
Performance
DFEN.DE vs. PPFB.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DFEN.DE achieves a 1.84% return, which is significantly lower than PPFB.DE's 2.74% return.
DFEN.DE
- 1D
- 0.53%
- 1M
- -0.93%
- YTD
- 1.84%
- 6M
- 3.89%
- 1Y
- 10.60%
- 3Y*
- 37.67%
- 5Y*
- —
- 10Y*
- —
PPFB.DE
- 1D
- 0.61%
- 1M
- -3.85%
- YTD
- 2.74%
- 6M
- 6.61%
- 1Y
- 31.41%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
DFEN.DE vs. PPFB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 1.84% | 50.76% | 51.97% | 22.65% |
PPFB.DE iShares Physical Gold ETC | 2.74% | 49.11% | 34.17% | 1.12% |
Correlation
The correlation between DFEN.DE and PPFB.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.13 |
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. PPFB.DE — Risk / Return Rank
DFEN.DE
PPFB.DE
DFEN.DE vs. PPFB.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 Physical Gold ETC (PPFB.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 | PPFB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.26 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 1.81 | -1.19 |
| Martin ratioReturn relative to average drawdown | 1.46 | 4.60 | -3.14 |
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 | PPFB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.30 | -0.84 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.84 | 1.26 | +0.58 |
Drawdowns
DFEN.DE vs. PPFB.DE - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.60%, which is greater than PPFB.DE's maximum drawdown of -16.60%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and PPFB.DE.
Loading charts...
Drawdown Indicators
| DFEN.DE | PPFB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.60% | -16.60% | -2.00% |
Max Drawdown (1Y)Largest decline over 1 year | -18.60% | -16.60% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -18.60% | -16.60% | -2.00% |
Current DrawdownCurrent decline from peak | -16.99% | -15.00% | -1.99% |
Average DrawdownAverage peak-to-trough decline | -3.20% | -4.40% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.93% | 6.55% | +1.38% |
Volatility
DFEN.DE vs. PPFB.DE - Volatility Comparison
VanEck Defense UCITS ETF A (DFEN.DE) has a higher volatility of 7.01% compared to iShares Physical Gold ETC (PPFB.DE) at 5.11%. This indicates that DFEN.DE's price experiences larger fluctuations and is considered to be riskier than PPFB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DFEN.DE | PPFB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 5.11% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 19.21% | 20.18% | -0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.92% | 23.12% | +1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.20% | 16.13% | +5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 16.13% | +5.07% |
DFEN.DE vs. PPFB.DE - Expense Ratio Comparison
DFEN.DE has a 0.55% expense ratio, which is higher than PPFB.DE's 0.12% expense ratio.
Dividends
DFEN.DE vs. PPFB.DE - Dividend Comparison
Neither DFEN.DE nor PPFB.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEN.DE and PPFB.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPFB.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPFB.DE is cheaper with a 0.12% expense ratio, compared with 0.55% for DFEN.DE.
DFEN.DE is categorized as Aerospace & Defense, while PPFB.DE is Precious Metals. DFEN.DE tracks MarketVector Global Defense Industry Index, while PPFB.DE tracks Gold. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFEN.DE and 0.12% for PPFB.DE.
Find the right allocation for DFEN.DE and PPFB.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