DFNC.DE vs. ARMY

Last updated Jun 27, 2026

DFNC.DE (iShares Europe Defence UCITS ETF EUR Acc) and ARMY (HANetf Future of European Defence Screened UCITS ETF) are both Aerospace & Defense funds - DFNC.DE tracks the STOXX Europe Targeted Defence Index while ARMY tracks the VettaFi European Future of Defence Screened Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. DFNC.DE charges 0.35%/yr vs 0.39%/yr for ARMY.

Performance

DFNC.DE vs. ARMY - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Europe Defence UCITS ETF EUR Acc (DFNC.DE) and HANetf Future of European Defence Screened UCITS ETF (ARMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFNC.DE

• 1D: 0.00%
• 1M: -6.55%
• YTD: -1.04%
• 6M: -1.26%
• 1Y: -5.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMY

• 1D: -0.44%
• 1M: -12.90%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFNC.DE vs. ARMY - Yearly Performance Comparison

	2026 (YTD)
DFNC.DE iShares Europe Defence UCITS ETF EUR Acc	-7.54%
ARMY HANetf Future of European Defence Screened UCITS ETF	-8.76%

Correlation

The correlation between DFNC.DE and ARMY is 0.79, 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 Mar 31, 2026	0.79

Return for Risk

DFNC.DE vs. ARMY — Risk / Return Rank

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

DFNC.DE

DFNC.DE Risk / Return Rank: 7
DFNC.DE Sharpe Ratio Rank: 8
DFNC.DE Sortino Ratio Rank: 8
DFNC.DE Omega Ratio Rank: 8
DFNC.DE Calmar Ratio Rank: 7
DFNC.DE Martin Ratio Rank: 7

ARMY

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

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.

DFNC.DE vs. ARMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Europe Defence UCITS ETF EUR Acc (DFNC.DE) and HANetf Future of European Defence Screened UCITS ETF (ARMY). 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.

	DFNC.DE	ARMY	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	—	—
Sortino ratio: Return per unit of downside risk	-0.04	—	—
Omega ratio: Gain probability vs. loss probability	1.00	—	—
Calmar ratio: Return relative to maximum drawdown	-0.25	—	—
Martin ratio: Return relative to average drawdown	-0.54	—	—

Drawdowns

DFNC.DE vs. ARMY - Drawdown Comparison

The maximum DFNC.DE drawdown since its inception was -20.23%, which is greater than ARMY's maximum drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for DFNC.DE and ARMY.

Drawdown Indicators

	DFNC.DE	ARMY	Difference
Max Drawdown Largest peak-to-trough decline	-20.23%	-16.37%	-3.86%
Max Drawdown (1Y) Largest decline over 1 year	-20.23%	—	—
Current Drawdown Current decline from peak	-18.35%	-16.37%	-1.98%
Average Drawdown Average peak-to-trough decline	-8.20%	-6.54%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.48%	—	—

Volatility

Volatility by Period

	DFNC.DE	ARMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	23.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.76%	32.01%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.72%	32.01%	-2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.72%	32.01%	-2.29%

DFNC.DE vs. ARMY - Expense Ratio Comparison

DFNC.DE has a 0.35% expense ratio, which is lower than ARMY's 0.39% expense ratio.

Dividends

DFNC.DE vs. ARMY - Dividend Comparison

Neither DFNC.DE nor ARMY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DFNC.DE and ARMY in my portfolio?

DFNC.DE and ARMY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFNC.DE or ARMY?

On fees, DFNC.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, DFNC.DE or ARMY?

DFNC.DE is cheaper with a 0.35% expense ratio, compared with 0.39% for ARMY.

What is the main difference between DFNC.DE and ARMY?

DFNC.DE tracks STOXX Europe Targeted Defence Index, while ARMY tracks VettaFi European Future of Defence Screened Index. They also come from different issuers: iShares and HANetf. Their fees differ too: 0.35% for DFNC.DE and 0.39% for ARMY.