DFNG.L vs. AVSG.L
DFNG.L (VanEck Defense ETF A USD Acc GBP) and AVSG.L (Avantis Global Small Cap Value UCITS ETF USD Acc) are both exchange-traded funds - DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index, while AVSG.L is a Small Cap Value Equities fund actively managed by Avantis. DFNG.L is passively managed, while AVSG.L is actively managed. Over the past year, DFNG.L returned 16.52% vs 38.87% for AVSG.L. At a 0.29 correlation, their price movements are largely independent. DFNG.L charges 0.55%/yr vs 0.39%/yr for AVSG.L.
Performance
DFNG.L vs. AVSG.L - Performance Comparison
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Different Trading Currencies
DFNG.L is traded in GBP, while AVSG.L is traded in USD. To make them comparable, the AVSG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, DFNG.L achieves a 3.11% return, which is significantly lower than AVSG.L's 17.58% return.
DFNG.L
- 1D
- -1.51%
- 1M
- -3.80%
- YTD
- 3.11%
- 6M
- 7.91%
- 1Y
- 16.52%
- 3Y*
- 39.39%
- 5Y*
- —
- 10Y*
- —
AVSG.L
- 1D
- -0.14%
- 1M
- 3.68%
- YTD
- 17.58%
- 6M
- 17.39%
- 1Y
- 38.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNG.L vs. AVSG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DFNG.L VanEck Defense ETF A USD Acc GBP | 3.11% | 56.54% | -2.65% |
AVSG.L Avantis Global Small Cap Value UCITS ETF USD Acc | 17.58% | 4.18% | -3.04% |
Correlation
The correlation between DFNG.L and AVSG.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024 | 0.29 |
The correlation between DFNG.L and AVSG.L shifts across timeframes, from 0.18 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFNG.L vs. AVSG.L — Risk / Return Rank
DFNG.L
AVSG.L
DFNG.L vs. AVSG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense ETF A USD Acc GBP (DFNG.L) and Avantis Global Small Cap Value UCITS ETF USD Acc (AVSG.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.
| DFNG.L | AVSG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.46 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 5.94 | -5.04 |
| Martin ratioReturn relative to average drawdown | 2.23 | 21.05 | -18.82 |
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
| DFNG.L | AVSG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 2.66 | -1.98 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.97 | 0.69 | +1.27 |
Drawdowns
DFNG.L vs. AVSG.L - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -18.38%, smaller than the maximum AVSG.L drawdown of -25.25%. Use the drawdown chart below to compare losses from any high point for DFNG.L and AVSG.L.
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Drawdown Indicators
| DFNG.L | AVSG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -25.25% | +6.87% |
Max Drawdown (1Y)Largest decline over 1 year | -18.38% | -6.51% | -11.87% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | — | — |
Current DrawdownCurrent decline from peak | -15.77% | -0.70% | -15.07% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -7.70% | +4.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.40% | 1.84% | +5.56% |
Volatility
DFNG.L vs. AVSG.L - Volatility Comparison
VanEck Defense ETF A USD Acc GBP (DFNG.L) has a higher volatility of 7.86% compared to Avantis Global Small Cap Value UCITS ETF USD Acc (AVSG.L) at 3.63%. This indicates that DFNG.L's price experiences larger fluctuations and is considered to be riskier than AVSG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFNG.L | AVSG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 3.63% | +4.23% |
Volatility (6M)Calculated over the trailing 6-month period | 18.80% | 10.49% | +8.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.20% | 14.60% | +9.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.40% | 17.71% | +2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 17.71% | +2.69% |
DFNG.L vs. AVSG.L - Expense Ratio Comparison
DFNG.L has a 0.55% expense ratio, which is higher than AVSG.L's 0.39% expense ratio.
Dividends
DFNG.L vs. AVSG.L - Dividend Comparison
Neither DFNG.L nor AVSG.L has paid dividends to shareholders.
Frequently Asked Questions
DFNG.L and AVSG.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AVSG.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AVSG.L is cheaper with a 0.39% expense ratio, compared with 0.55% for DFNG.L.
DFNG.L is categorized as Aerospace & Defense, while AVSG.L is Small Cap Value Equities. They also come from different issuers: VanEck and Avantis. Their fees differ too: 0.55% for DFNG.L and 0.39% for AVSG.L.
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