DFNG.L vs. BAB.L

Last updated Jun 4, 2026

DFNG.L (VanEck Defense ETF A USD Acc GBP) is Aerospace & Defense fund tracking the MarketVector Global Defense Industry index, while BAB.L (Babcock International Group plc) is a stock. Over the past 3 years, DFNG.L returned 39.39%/yr vs 49.93%/yr for BAB.L. At a 0.46 correlation, their price movements are largely independent.

Performance

DFNG.L vs. BAB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Defense ETF A USD Acc GBP (DFNG.L) and Babcock International Group plc (BAB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DFNG.L is traded in GBP, while BAB.L is traded in GBp. To make them comparable, the BAB.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 higher than BAB.L's -17.02% return.

DFNG.L

• 1D: -1.51%
• 1M: -3.80%
• YTD: 3.11%
• 6M: 7.91%
• 1Y: 16.52%
• 3Y*: 39.39%
• 5Y*: —
• 10Y*: —

BAB.L

• 1D: -0.48%
• 1M: -6.23%
• YTD: -17.02%
• 6M: -8.68%
• 1Y: 1.62%
• 3Y*: 49.93%
• 5Y*: 28.29%
• 10Y*: 1.89%

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

DFNG.L vs. BAB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFNG.L VanEck Defense ETF A USD Acc GBP	3.11%	56.54%	46.20%	22.89%
BAB.L Babcock International Group plc	-17.02%	150.05%	27.98%	32.67%

Correlation

The correlation between DFNG.L and BAB.L is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023	0.46

The correlation between DFNG.L and BAB.L shifts across timeframes, from 0.46 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DFNG.L vs. BAB.L — Risk / Return Rank

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

DFNG.L

DFNG.L Risk / Return Rank: 20
DFNG.L Sharpe Ratio Rank: 19
DFNG.L Sortino Ratio Rank: 20
DFNG.L Omega Ratio Rank: 20
DFNG.L Calmar Ratio Rank: 20
DFNG.L Martin Ratio Rank: 19

BAB.L

BAB.L Risk / Return Rank: 39
BAB.L Sharpe Ratio Rank: 42
BAB.L Sortino Ratio Rank: 37
BAB.L Omega Ratio Rank: 37
BAB.L Calmar Ratio Rank: 41
BAB.L Martin Ratio Rank: 41

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.

DFNG.L vs. BAB.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 Babcock International Group plc (BAB.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	BAB.L	Difference
Sharpe ratio: Return per unit of total volatility	0.68	0.05	+0.64
Sortino ratio: Return per unit of downside risk	1.12	0.32	+0.80
Omega ratio: Gain probability vs. loss probability	1.13	1.04	+0.09
Calmar ratio: Return relative to maximum drawdown	0.90	0.04	+0.85
Martin ratio: Return relative to average drawdown	2.23	0.12	+2.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFNG.L vs. BAB.L - Sharpe Ratio Comparison

The current DFNG.L Sharpe Ratio is 0.68, which is higher than the BAB.L Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of DFNG.L and BAB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFNG.L	BAB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	0.05	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.97	0.24	+1.73

Drawdowns

DFNG.L vs. BAB.L - Drawdown Comparison

The maximum DFNG.L drawdown since its inception was -18.38%, smaller than the maximum BAB.L drawdown of -81.10%. Use the drawdown chart below to compare losses from any high point for DFNG.L and BAB.L.

Drawdown Indicators

	DFNG.L	BAB.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-81.10%	+62.72%
Max Drawdown (1Y) Largest decline over 1 year	-18.38%	-36.28%	+17.90%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-36.28%	+17.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-79.18%	—
Current Drawdown Current decline from peak	-15.77%	-31.32%	+15.55%
Average Drawdown Average peak-to-trough decline	-3.11%	-35.12%	+32.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.40%	13.68%	-6.28%

Volatility

DFNG.L vs. BAB.L - Volatility Comparison

The current volatility for VanEck Defense ETF A USD Acc GBP (DFNG.L) is 7.86%, while Babcock International Group plc (BAB.L) has a volatility of 12.11%. This indicates that DFNG.L experiences smaller price fluctuations and is considered to be less risky than BAB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFNG.L	BAB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.86%	12.11%	-4.25%
Volatility (6M) Calculated over the trailing 6-month period	18.80%	25.97%	-7.17%
Volatility (1Y) Calculated over the trailing 1-year period	24.20%	35.57%	-11.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.40%	33.61%	-13.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	36.39%	-15.99%

Dividends

DFNG.L vs. BAB.L - Dividend Comparison

DFNG.L has not paid dividends to shareholders, while BAB.L's dividend yield for the trailing twelve months is around 0.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAB.L Babcock International Group plc	0.68%	0.56%	1.06%	0.43%	0.00%	0.00%	0.00%	4.78%	6.08%	4.04%	2.75%	2.38%
DFNG.L VanEck Defense ETF A USD Acc GBP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFNG.L and BAB.L in my portfolio?

DFNG.L and BAB.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.