DFNC.DE vs. ED3F.DE
DFNC.DE (iShares Europe Defence UCITS ETF EUR Acc) and ED3F.DE (Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating) are both Aerospace & Defense funds - DFNC.DE tracks the STOXX Europe Targeted Defence Index while ED3F.DE tracks the Mirae Asset Europe Defence Tech Index. Both are passively managed. Over the past year, DFNC.DE returned -2.92% vs -1.88% for ED3F.DE. Their correlation of 0.94 suggests significant overlap in exposure. DFNC.DE charges 0.35%/yr vs 0.40%/yr for ED3F.DE.
Performance
DFNC.DE vs. ED3F.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DFNC.DE achieves a 3.52% return, which is significantly higher than ED3F.DE's 0.02% return.
DFNC.DE
- 1D
- 0.58%
- 1M
- -4.97%
- YTD
- 3.52%
- 6M
- 7.52%
- 1Y
- -2.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ED3F.DE
- 1D
- -0.42%
- 1M
- -8.21%
- YTD
- 0.02%
- 6M
- 4.46%
- 1Y
- -1.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNC.DE vs. ED3F.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFNC.DE iShares Europe Defence UCITS ETF EUR Acc | 3.52% | -5.19% |
ED3F.DE Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating | 0.02% | -1.33% |
Correlation
The correlation between DFNC.DE and ED3F.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since May 29, 2025 | 0.94 |
The correlation between DFNC.DE and ED3F.DE has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
DFNC.DE vs. ED3F.DE — Risk / Return Rank
DFNC.DE
ED3F.DE
DFNC.DE vs. ED3F.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 Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.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.
| DFNC.DE | ED3F.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.01 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | -0.08 | -0.07 |
| Martin ratioReturn relative to average drawdown | -0.31 | -0.18 | -0.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFNC.DE | ED3F.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.10 | -0.06 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 0.15 | -0.21 |
Drawdowns
DFNC.DE vs. ED3F.DE - Drawdown Comparison
The maximum DFNC.DE drawdown since its inception was -20.23%, smaller than the maximum ED3F.DE drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for DFNC.DE and ED3F.DE.
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Drawdown Indicators
| DFNC.DE | ED3F.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.23% | -23.91% | +3.68% |
Max Drawdown (1Y)Largest decline over 1 year | -20.23% | -23.91% | +3.68% |
Current DrawdownCurrent decline from peak | -14.59% | -20.80% | +6.21% |
Average DrawdownAverage peak-to-trough decline | -7.72% | -8.37% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.85% | 10.25% | -1.40% |
Volatility
DFNC.DE vs. ED3F.DE - Volatility Comparison
The current volatility for iShares Europe Defence UCITS ETF EUR Acc (DFNC.DE) is 10.02%, while Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.DE) has a volatility of 10.58%. This indicates that DFNC.DE experiences smaller price fluctuations and is considered to be less risky than ED3F.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFNC.DE | ED3F.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.02% | 10.58% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 23.33% | 22.80% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.27% | 30.60% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.11% | 30.42% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.11% | 30.42% | -0.31% |
DFNC.DE vs. ED3F.DE - Expense Ratio Comparison
DFNC.DE has a 0.35% expense ratio, which is lower than ED3F.DE's 0.40% expense ratio.
Dividends
DFNC.DE vs. ED3F.DE - Dividend Comparison
Neither DFNC.DE nor ED3F.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, DFNC.DE and ED3F.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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.
DFNC.DE is cheaper with a 0.35% expense ratio, compared with 0.40% for ED3F.DE.
DFNC.DE tracks STOXX Europe Targeted Defence Index, while ED3F.DE tracks Mirae Asset Europe Defence Tech Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.35% for DFNC.DE and 0.40% for ED3F.DE.
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