DFNC.DE vs. ASWC.DE

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Europe Defence UCITS ETF EUR Acc (DFNC.DE) and HANetf Future of Defence UCITS ETF Acc EUR (ASWC.DE).

DFNC.DE and ASWC.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFNC.DE is a passively managed fund by iShares that tracks the performance of the STOXX Europe Targeted Defence Index. It was launched on May 23, 2025. ASWC.DE is a passively managed fund by HANetf that tracks the performance of the EQM Future of Defence Index. It was launched on Jul 3, 2023. Both DFNC.DE and ASWC.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DFNC.DE vs. ASWC.DE - 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 Defence UCITS ETF Acc EUR (ASWC.DE). The values are adjusted to include any dividend payments, if applicable.

DFNC.DE vs. ASWC.DE - Yearly Performance Comparison

	2026 (YTD)	2025
DFNC.DE iShares Europe Defence UCITS ETF EUR Acc	16.46%	-5.19%
ASWC.DE HANetf Future of Defence UCITS ETF Acc EUR	3.89%	3.91%

Returns By Period

In the year-to-date period, DFNC.DE achieves a 16.46% return, which is significantly higher than ASWC.DE's 3.89% return.

DFNC.DE

• 1D: 6.50%
• 1M: -1.09%
• YTD: 16.46%
• 6M: 2.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASWC.DE

• 1D: 0.43%
• 1M: -6.18%
• YTD: 3.89%
• 6M: -2.22%
• 1Y: 22.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFNC.DE vs. ASWC.DE - Expense Ratio Comparison

DFNC.DE has a 0.35% expense ratio, which is lower than ASWC.DE's 0.49% expense ratio.

ASWC.DE

HANetf Future of Defence UCITS ETF Acc EUR

DFNC.DE

iShares Europe Defence UCITS ETF EUR Acc

Return for Risk

DFNC.DE vs. ASWC.DE — Risk / Return Rank

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

ASWC.DE

ASWC.DE Risk / Return Rank: 56
ASWC.DE Sharpe Ratio Rank: 59
ASWC.DE Sortino Ratio Rank: 61
ASWC.DE Omega Ratio Rank: 51
ASWC.DE Calmar Ratio Rank: 65
ASWC.DE Martin Ratio Rank: 45

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. ASWC.DE - 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 Defence UCITS ETF Acc EUR (ASWC.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.

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

Sharpe Ratios by Period

	DFNC.DE	ASWC.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	1.85	-1.43

Correlation

The correlation between DFNC.DE and ASWC.DE is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFNC.DE vs. ASWC.DE - Dividend Comparison

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

Tickers have no history of dividend payments

Drawdowns

DFNC.DE vs. ASWC.DE - Drawdown Comparison

The maximum DFNC.DE drawdown since its inception was -20.23%, which is greater than ASWC.DE's maximum drawdown of -12.58%. Use the drawdown chart below to compare losses from any high point for DFNC.DE and ASWC.DE.

Drawdown Indicators

	DFNC.DE	ASWC.DE	Difference
Max Drawdown Largest peak-to-trough decline	-20.23%	-12.58%	-7.65%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.58%	—
Current Drawdown Current decline from peak	-3.91%	-9.16%	+5.25%
Average Drawdown Average peak-to-trough decline	-7.01%	-2.26%	-4.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.90%	—

Volatility

Volatility by Period

	DFNC.DE	ASWC.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.54%	22.59%	+6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.54%	18.91%	+10.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.54%	18.91%	+10.63%