DFEN.DE vs. VH2.DE

Last updated Jun 13, 2026

DFEN.DE (VanEck Defense UCITS ETF A) is Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while VH2.DE (Friedrich Vorwerk Group SE) is a stock. Over the past 3 years, DFEN.DE returned 37.43%/yr vs 81.64%/yr for VH2.DE. At a 0.24 correlation, their price movements are largely independent.

Performance

DFEN.DE vs. VH2.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Defense UCITS ETF A (DFEN.DE) and Friedrich Vorwerk Group SE (VH2.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFEN.DE achieves a 3.04% return, which is significantly higher than VH2.DE's -18.84% return.

DFEN.DE

• 1D: 0.60%
• 1M: 2.28%
• YTD: 3.04%
• 6M: 4.46%
• 1Y: 14.07%
• 3Y*: 37.43%
• 5Y*: —
• 10Y*: —

VH2.DE

• 1D: 6.71%
• 1M: -11.59%
• YTD: -18.84%
• 6M: -18.24%
• 1Y: 12.57%
• 3Y*: 81.64%
• 5Y*: 10.33%
• 10Y*: —

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

DFEN.DE vs. VH2.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFEN.DE VanEck Defense UCITS ETF A	3.04%	50.76%	51.97%	22.65%
VH2.DE Friedrich Vorwerk Group SE	-18.84%	200.72%	77.44%	45.45%

Correlation

The correlation between DFEN.DE and VH2.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023	0.24

Return for Risk

DFEN.DE vs. VH2.DE — 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: 19
DFEN.DE Sharpe Ratio Rank: 19
DFEN.DE Sortino Ratio Rank: 20
DFEN.DE Omega Ratio Rank: 19
DFEN.DE Calmar Ratio Rank: 20
DFEN.DE Martin Ratio Rank: 18

VH2.DE

VH2.DE Risk / Return Rank: 50
VH2.DE Sharpe Ratio Rank: 51
VH2.DE Sortino Ratio Rank: 50
VH2.DE Omega Ratio Rank: 48
VH2.DE Calmar Ratio Rank: 50
VH2.DE Martin Ratio Rank: 49

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. VH2.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF A (DFEN.DE) and Friedrich Vorwerk Group SE (VH2.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	VH2.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.56	0.22	+0.34
Sortino ratio: Return per unit of downside risk	0.97	0.77	+0.20
Omega ratio: Gain probability vs. loss probability	1.11	1.09	+0.02
Calmar ratio: Return relative to maximum drawdown	0.74	0.27	+0.47
Martin ratio: Return relative to average drawdown	1.72	0.58	+1.15

DFEN.DE vs. VH2.DE - Sharpe Ratio Comparison

The current DFEN.DE Sharpe Ratio is 0.56, which is higher than the VH2.DE Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of DFEN.DE and VH2.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFEN.DE vs. VH2.DE - Drawdown Comparison

The maximum DFEN.DE drawdown since its inception was -18.88%, smaller than the maximum VH2.DE drawdown of -82.66%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and VH2.DE.

Drawdown Indicators

	DFEN.DE	VH2.DE	Difference
Max Drawdown Largest peak-to-trough decline	-18.88%	-82.66%	+63.78%
Max Drawdown (1Y) Largest decline over 1 year	-18.88%	-45.85%	+26.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-45.85%	+26.97%
Max Drawdown (5Y) Largest decline over 5 years	—	-81.44%	—
Current Drawdown Current decline from peak	-16.01%	-37.57%	+21.56%
Average Drawdown Average peak-to-trough decline	-3.25%	-44.01%	+40.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.15%	21.75%	-13.60%

Volatility

DFEN.DE vs. VH2.DE - Volatility Comparison

The current volatility for VanEck Defense UCITS ETF A (DFEN.DE) is 7.34%, while Friedrich Vorwerk Group SE (VH2.DE) has a volatility of 15.89%. This indicates that DFEN.DE experiences smaller price fluctuations and is considered to be less risky than VH2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEN.DE	VH2.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	15.89%	-8.55%
Volatility (6M) Calculated over the trailing 6-month period	19.34%	40.29%	-20.95%
Volatility (1Y) Calculated over the trailing 1-year period	25.01%	57.29%	-32.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.22%	52.61%	-31.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.22%	51.88%	-30.66%

Dividends

DFEN.DE vs. VH2.DE - Dividend Comparison

DFEN.DE has not paid dividends to shareholders, while VH2.DE's dividend yield for the trailing twelve months is around 1.69%.

Position	TTM	2025	2024	2023	2022
DFEN.DE VanEck Defense UCITS ETF A	0.00%	0.00%	0.00%	0.00%	0.00%
VH2.DE Friedrich Vorwerk Group SE	1.69%	0.37%	0.44%	0.77%	0.91%

Frequently Asked Questions

Can I hold both DFEN.DE and VH2.DE in my portfolio?

DFEN.DE and VH2.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.