DFEU.L vs. IDFN.L

Last updated Jun 4, 2026

DFEU.L (iShares Europe Defence UCITS ETF EUR Accumulating) and IDFN.L (Invesco Defence Innovation UCITS ETF Acc) are both Aerospace & Defense funds - DFEU.L tracks the STOXX Europe Targeted Defence Index while IDFN.L tracks the S&P Kensho Global Future Defense Index. Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

DFEU.L vs. IDFN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Europe Defence UCITS ETF EUR Accumulating (DFEU.L) and Invesco Defence Innovation UCITS ETF Acc (IDFN.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DFEU.L is traded in GBP, while IDFN.L is traded in USD. To make them comparable, the IDFN.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, DFEU.L achieves a 1.23% return, which is significantly lower than IDFN.L's 35.04% return.

DFEU.L

• 1D: -1.29%
• 1M: -3.91%
• YTD: 1.23%
• 6M: 7.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IDFN.L

• 1D: -1.59%
• 1M: 13.67%
• YTD: 35.04%
• 6M: 42.69%
• 1Y: 77.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFEU.L vs. IDFN.L - Yearly Performance Comparison

	2026 (YTD)	2025
DFEU.L iShares Europe Defence UCITS ETF EUR Accumulating	1.23%	-14.38%
IDFN.L Invesco Defence Innovation UCITS ETF Acc	35.04%	20.11%

Correlation

The correlation between DFEU.L and IDFN.L is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.60

Return for Risk

DFEU.L vs. IDFN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IDFN.L

IDFN.L Risk / Return Rank: 85
IDFN.L Sharpe Ratio Rank: 88
IDFN.L Sortino Ratio Rank: 85
IDFN.L Omega Ratio Rank: 76
IDFN.L Calmar Ratio Rank: 90
IDFN.L Martin Ratio Rank: 83

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.

DFEU.L vs. IDFN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Europe Defence UCITS ETF EUR Accumulating (DFEU.L) and Invesco Defence Innovation UCITS ETF Acc (IDFN.L). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DFEU.L	IDFN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	2.36	-2.81

Drawdowns

DFEU.L vs. IDFN.L - Drawdown Comparison

The maximum DFEU.L drawdown since its inception was -20.99%, which is greater than IDFN.L's maximum drawdown of -14.61%. Use the drawdown chart below to compare losses from any high point for DFEU.L and IDFN.L.

Drawdown Indicators

	DFEU.L	IDFN.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.99%	-14.61%	-6.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.96%	—
Current Drawdown Current decline from peak	-15.78%	-5.07%	-10.71%
Average Drawdown Average peak-to-trough decline	-10.14%	-3.46%	-6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.63%	—

Volatility

Volatility by Period

	DFEU.L	IDFN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.69%	25.43%	+7.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.69%	26.37%	+6.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.69%	26.37%	+6.32%

DFEU.L vs. IDFN.L - Expense Ratio Comparison

Both DFEU.L and IDFN.L have an expense ratio of 0.35%.

Dividends

DFEU.L vs. IDFN.L - Dividend Comparison

Neither DFEU.L nor IDFN.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DFEU.L and IDFN.L in my portfolio?

DFEU.L and IDFN.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFEU.L or IDFN.L?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFEU.L or IDFN.L?

DFEU.L and IDFN.L have the same expense ratio: 0.35% per year.

What is the main difference between DFEU.L and IDFN.L?

DFEU.L tracks STOXX Europe Targeted Defence Index, while IDFN.L tracks S&P Kensho Global Future Defense Index. They also come from different issuers: iShares and Invesco.