DFEN.DE vs. VVSM.DE

Last updated Jun 5, 2026

DFEN.DE (VanEck Defense UCITS ETF A) and VVSM.DE (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index, while VVSM.DE is a Semiconductors fund tracking the MVIS US Listed Semiconductor 10% Capped ESG Index. Both are passively managed. Over the past year, DFEN.DE returned 14.03% vs 166.04% for VVSM.DE. At a 0.38 correlation, their price movements are largely independent. DFEN.DE charges 0.55%/yr vs 0.35%/yr for VVSM.DE.

Performance

DFEN.DE vs. VVSM.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Defense UCITS ETF A (DFEN.DE) and VanEck Semiconductor UCITS ETF (VVSM.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 4.02% return, which is significantly lower than VVSM.DE's 86.02% return.

DFEN.DE

• 1D: 0.30%
• 1M: -3.33%
• YTD: 4.02%
• 6M: 6.91%
• 1Y: 14.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VVSM.DE

• 1D: -2.77%
• 1M: 22.85%
• YTD: 86.02%
• 6M: 85.84%
• 1Y: 166.04%
• 3Y*: 56.95%
• 5Y*: 38.05%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023
DFEN.DE VanEck Defense UCITS ETF A	4.02%	50.76%	51.97%	8.67%
VVSM.DE VanEck Semiconductor UCITS ETF	86.02%	33.22%	31.47%	14.90%

Correlation

The correlation between DFEN.DE and VVSM.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023	0.38

The correlation between DFEN.DE and VVSM.DE shifts across timeframes, from 0.28 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFEN.DE vs. VVSM.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: 18
DFEN.DE Calmar Ratio Rank: 19
DFEN.DE Martin Ratio Rank: 18

VVSM.DE

VVSM.DE Risk / Return Rank: 96
VVSM.DE Sharpe Ratio Rank: 98
VVSM.DE Sortino Ratio Rank: 95
VVSM.DE Omega Ratio Rank: 94
VVSM.DE Calmar Ratio Rank: 98
VVSM.DE Martin Ratio Rank: 97

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. VVSM.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 Semiconductor UCITS ETF (VVSM.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	VVSM.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.56	5.17	-4.61
Sortino ratio: Return per unit of downside risk	0.97	5.30	-4.33
Omega ratio: Gain probability vs. loss probability	1.11	1.68	-0.57
Calmar ratio: Return relative to maximum drawdown	0.75	14.16	-13.41
Martin ratio: Return relative to average drawdown	1.81	48.94	-47.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current DFEN.DE Sharpe Ratio is 0.56, which is lower than the VVSM.DE Sharpe Ratio of 5.17. The chart below compares the historical Sharpe Ratios of DFEN.DE and VVSM.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.

Sharpe Ratios by Period

	DFEN.DE	VVSM.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	5.17	-4.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.75	1.24	+0.52

Drawdowns

DFEN.DE vs. VVSM.DE - Drawdown Comparison

The maximum DFEN.DE drawdown since its inception was -18.60%, smaller than the maximum VVSM.DE drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for DFEN.DE and VVSM.DE.

Drawdown Indicators

	DFEN.DE	VVSM.DE	Difference
Max Drawdown Largest peak-to-trough decline	-18.60%	-37.64%	+19.04%
Max Drawdown (1Y) Largest decline over 1 year	-18.60%	-11.65%	-6.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-37.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.64%	—
Current Drawdown Current decline from peak	-15.21%	-2.77%	-12.44%
Average Drawdown Average peak-to-trough decline	-3.27%	-10.22%	+6.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.72%	3.38%	+4.34%

Volatility

DFEN.DE vs. VVSM.DE - Volatility Comparison

The current volatility for VanEck Defense UCITS ETF A (DFEN.DE) is 7.38%, while VanEck Semiconductor UCITS ETF (VVSM.DE) has a volatility of 12.04%. This indicates that DFEN.DE experiences smaller price fluctuations and is considered to be less risky than VVSM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEN.DE	VVSM.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	12.04%	-4.66%
Volatility (6M) Calculated over the trailing 6-month period	19.16%	24.35%	-5.19%
Volatility (1Y) Calculated over the trailing 1-year period	24.79%	31.92%	-7.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	31.15%	-9.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.47%	30.81%	-9.34%

DFEN.DE vs. VVSM.DE - Expense Ratio Comparison

DFEN.DE has a 0.55% expense ratio, which is higher than VVSM.DE's 0.35% expense ratio.

Dividends

DFEN.DE vs. VVSM.DE - Dividend Comparison

Neither DFEN.DE nor VVSM.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

DFEN.DE and VVSM.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFEN.DE or VVSM.DE?

On fees, VVSM.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFEN.DE or VVSM.DE?

VVSM.DE is cheaper with a 0.35% expense ratio, compared with 0.55% for DFEN.DE.

What is the main difference between DFEN.DE and VVSM.DE?

DFEN.DE is categorized as Aerospace & Defense, while VVSM.DE is Semiconductors. DFEN.DE tracks MarketVector Global Defense Industry Index, while VVSM.DE tracks MVIS US Listed Semiconductor 10% Capped ESG Index. Their fees differ too: 0.55% for DFEN.DE and 0.35% for VVSM.DE.