DFEN.DE vs. SPYL.DE
DFEN.DE (VanEck Defense UCITS ETF A) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, DFEN.DE returned 11.89% vs 26.53% for SPYL.DE. A 0.50 correlation means they provide meaningful diversification when combined. DFEN.DE charges 0.55%/yr vs 0.03%/yr for SPYL.DE.
Performance
DFEN.DE vs. SPYL.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 SPYL.DE's 11.37% return.
DFEN.DE
- 1D
- 0.60%
- 1M
- 0.90%
- YTD
- 3.04%
- 6M
- 4.46%
- 1Y
- 11.89%
- 3Y*
- 37.43%
- 5Y*
- —
- 10Y*
- —
SPYL.DE
- 1D
- -0.15%
- 1M
- 1.37%
- YTD
- 11.37%
- 6M
- 12.66%
- 1Y
- 26.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFEN.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 3.04% | 50.76% | 51.97% | 4.59% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between DFEN.DE and SPYL.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.50 |
The correlation between DFEN.DE and SPYL.DE shifts across timeframes, from 0.40 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFEN.DE vs. SPYL.DE — Risk / Return Rank
DFEN.DE
SPYL.DE
DFEN.DE vs. SPYL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.41 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 3.58 | -2.83 |
| Martin ratioReturn relative to average drawdown | 1.72 | 12.72 | -11.00 |
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Drawdowns
DFEN.DE vs. SPYL.DE - Drawdown Comparison
The maximum DFEN.DE drawdown since its inception was -18.88%, smaller than the maximum SPYL.DE drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and SPYL.DE.
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Drawdown Indicators
| DFEN.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.88% | -23.27% | +4.39% |
Max Drawdown (1Y)Largest decline over 1 year | -18.88% | -7.13% | -11.75% |
Max Drawdown (3Y)Largest decline over 3 years | -18.88% | — | — |
Current DrawdownCurrent decline from peak | -16.01% | -0.46% | -15.55% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -3.23% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 2.01% | +6.14% |
Volatility
DFEN.DE vs. SPYL.DE - Volatility Comparison
VanEck Defense UCITS ETF A (DFEN.DE) has a higher volatility of 7.34% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that DFEN.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.34% | 2.66% | +4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 19.34% | 7.57% | +11.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.01% | 11.52% | +13.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.22% | 14.60% | +6.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.22% | 14.60% | +6.62% |
DFEN.DE vs. SPYL.DE - Expense Ratio Comparison
DFEN.DE has a 0.55% expense ratio, which is higher than SPYL.DE's 0.03% expense ratio.
Dividends
DFEN.DE vs. SPYL.DE - Dividend Comparison
Neither DFEN.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEN.DE and SPYL.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.55% for DFEN.DE.
DFEN.DE is categorized as Aerospace & Defense, while SPYL.DE is S&P 500. DFEN.DE tracks MarketVector Global Defense Industry Index, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.55% for DFEN.DE and 0.03% for SPYL.DE.
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