DFEU.L vs. VGK

Last updated Jun 4, 2026

DFEU.L (iShares Europe Defence UCITS ETF EUR Accumulating) and VGK (Vanguard FTSE Europe ETF) are both exchange-traded funds - DFEU.L is a Aerospace & Defense fund tracking the STOXX Europe Targeted Defence Index, while VGK is a Europe Equities fund tracking the FTSE Developed Europe All Cap Index. Both are passively managed. At a 0.28 correlation, their price movements are largely independent. DFEU.L charges 0.35%/yr vs 0.06%/yr for VGK.

Performance

DFEU.L vs. VGK - 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 Vanguard FTSE Europe ETF (VGK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DFEU.L is traded in GBP, while VGK is traded in USD. To make them comparable, the VGK 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 VGK's 6.01% return.

DFEU.L

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

VGK

• 1D: -0.93%
• 1M: 3.63%
• YTD: 6.01%
• 6M: 8.09%
• 1Y: 18.84%
• 3Y*: 13.44%
• 5Y*: 9.40%
• 10Y*: 10.12%

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

DFEU.L vs. VGK - Yearly Performance Comparison

	2026 (YTD)	2025
DFEU.L iShares Europe Defence UCITS ETF EUR Accumulating	1.23%	-14.38%
VGK Vanguard FTSE Europe ETF	6.01%	10.68%

Correlation

The correlation between DFEU.L and VGK is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.28

Return for Risk

DFEU.L vs. VGK — Risk / Return Rank

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

VGK

VGK Risk / Return Rank: 31
VGK Sharpe Ratio Rank: 31
VGK Sortino Ratio Rank: 31
VGK Omega Ratio Rank: 30
VGK Calmar Ratio Rank: 30
VGK Martin Ratio Rank: 35

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. VGK - 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 Vanguard FTSE Europe ETF (VGK). 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	VGK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.49	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	0.33	-0.78

Drawdowns

DFEU.L vs. VGK - Drawdown Comparison

The maximum DFEU.L drawdown since its inception was -20.99%, smaller than the maximum VGK drawdown of -45.00%. Use the drawdown chart below to compare losses from any high point for DFEU.L and VGK.

Drawdown Indicators

	DFEU.L	VGK	Difference
Max Drawdown Largest peak-to-trough decline	-20.99%	-45.00%	+24.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.11%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.91%	—
Current Drawdown Current decline from peak	-15.78%	-1.91%	-13.87%
Average Drawdown Average peak-to-trough decline	-10.14%	-7.01%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.85%	—

Volatility

Volatility by Period

	DFEU.L	VGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.69%	12.76%	+19.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.69%	14.31%	+18.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.69%	16.53%	+16.16%

DFEU.L vs. VGK - Expense Ratio Comparison

DFEU.L has a 0.35% expense ratio, which is higher than VGK's 0.06% expense ratio.

Dividends

DFEU.L vs. VGK - Dividend Comparison

DFEU.L has not paid dividends to shareholders, while VGK's dividend yield for the trailing twelve months is around 2.82%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEU.L iShares Europe Defence UCITS ETF EUR Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGK Vanguard FTSE Europe ETF	2.82%	2.86%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%

Frequently Asked Questions

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

DFEU.L and VGK 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, DFEU.L or VGK?

On fees, VGK is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFEU.L or VGK?

VGK is cheaper with a 0.06% expense ratio, compared with 0.35% for DFEU.L.

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

DFEU.L is categorized as Aerospace & Defense, while VGK is Europe Equities. DFEU.L tracks STOXX Europe Targeted Defence Index, while VGK tracks FTSE Developed Europe All Cap Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.35% for DFEU.L and 0.06% for VGK.