DFNG.L vs. CSJP.L
DFNG.L (VanEck Defense ETF A USD Acc GBP) and CSJP.L (iShares MSCI Japan UCITS ETF USD (Acc)) are both exchange-traded funds - DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index, while CSJP.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 3 years, DFNG.L returned 37.60%/yr vs 14.40%/yr for CSJP.L. At a 0.31 correlation, their price movements are largely independent. DFNG.L charges 0.55%/yr vs 0.48%/yr for CSJP.L.
Performance
DFNG.L vs. CSJP.L - Performance Comparison
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Different Trading Currencies
DFNG.L is traded in GBP, while CSJP.L is traded in GBp. To make them comparable, the CSJP.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 1.28% return, which is significantly lower than CSJP.L's 15.51% return.
DFNG.L
- 1D
- 0.00%
- 1M
- -0.58%
- YTD
- 1.28%
- 6M
- 2.03%
- 1Y
- 12.40%
- 3Y*
- 37.60%
- 5Y*
- —
- 10Y*
- —
CSJP.L
- 1D
- 2.35%
- 1M
- 1.27%
- YTD
- 15.51%
- 6M
- 14.39%
- 1Y
- 33.78%
- 3Y*
- 14.40%
- 5Y*
- 9.91%
- 10Y*
- 10.23%
DFNG.L vs. CSJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFNG.L VanEck Defense ETF A USD Acc GBP | 1.28% | 56.54% | 46.20% | -1.18% |
CSJP.L iShares MSCI Japan UCITS ETF USD (Acc) | 15.51% | 17.48% | 9.01% | 9.89% |
Correlation
The correlation between DFNG.L and CSJP.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 (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.31 |
The correlation between DFNG.L and CSJP.L shifts across timeframes, from 0.18 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFNG.L vs. CSJP.L — Risk / Return Rank
DFNG.L
CSJP.L
DFNG.L vs. CSJP.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 iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.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.
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.
| DFNG.L | CSJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.33 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 3.15 | -2.41 |
| Martin ratioReturn relative to average drawdown | 1.83 | 9.95 | -8.13 |
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Drawdowns
DFNG.L vs. CSJP.L - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -22.59%, smaller than the maximum CSJP.L drawdown of -36.79%. Use the drawdown chart below to compare losses from any high point for DFNG.L and CSJP.L.
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Drawdown Indicators
| DFNG.L | CSJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -36.79% | +14.20% |
Max Drawdown (1Y)Largest decline over 1 year | -19.68% | -10.49% | -9.19% |
Max Drawdown (3Y)Largest decline over 3 years | -19.68% | -14.32% | -5.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.31% | — |
Current DrawdownCurrent decline from peak | -17.26% | -1.02% | -16.24% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -9.95% | +4.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.94% | 3.32% | +4.62% |
Volatility
DFNG.L vs. CSJP.L - Volatility Comparison
VanEck Defense ETF A USD Acc GBP (DFNG.L) has a higher volatility of 8.19% compared to iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) at 4.44%. This indicates that DFNG.L's price experiences larger fluctuations and is considered to be riskier than CSJP.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 | CSJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.19% | 4.44% | +3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 19.02% | 15.19% | +3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.56% | 18.62% | +5.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.38% | 15.95% | +7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.38% | 15.98% | +7.40% |
DFNG.L vs. CSJP.L - Expense Ratio Comparison
DFNG.L has a 0.55% expense ratio, which is higher than CSJP.L's 0.48% expense ratio.
Dividends
DFNG.L vs. CSJP.L - Dividend Comparison
Neither DFNG.L nor CSJP.L has paid dividends to shareholders.
Frequently Asked Questions
DFNG.L and CSJP.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, CSJP.L is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSJP.L is cheaper with a 0.48% expense ratio, compared with 0.55% for DFNG.L.
DFNG.L is categorized as Aerospace & Defense, while CSJP.L is Japan Equities. DFNG.L tracks MarketVector Global Defense Industry index, while CSJP.L tracks TOPIX TR JPY. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFNG.L and 0.48% for CSJP.L.
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