DFNG.L vs. DFEU.L
DFNG.L (VanEck Defense ETF A USD Acc GBP) and DFEU.L (iShares Europe Defence UCITS ETF EUR Accumulating) are both Aerospace & Defense funds - DFNG.L tracks the MarketVector Global Defense Industry index while DFEU.L tracks the STOXX Europe Targeted Defence Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. DFNG.L charges 0.55%/yr vs 0.35%/yr for DFEU.L.
Performance
DFNG.L vs. DFEU.L - Performance Comparison
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Returns By Period
In the year-to-date period, DFNG.L achieves a 3.11% return, which is significantly higher than DFEU.L's 1.23% return.
DFNG.L
- 1D
- -1.51%
- 1M
- -3.80%
- YTD
- 3.11%
- 6M
- 7.91%
- 1Y
- 16.52%
- 3Y*
- 39.39%
- 5Y*
- —
- 10Y*
- —
DFEU.L
- 1D
- -1.29%
- 1M
- -3.91%
- YTD
- 1.23%
- 6M
- 7.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNG.L vs. DFEU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFNG.L VanEck Defense ETF A USD Acc GBP | 3.11% | 10.43% |
DFEU.L iShares Europe Defence UCITS ETF EUR Accumulating | 1.23% | -14.38% |
Correlation
The correlation between DFNG.L and DFEU.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025 | 0.76 |
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Return for Risk
DFNG.L vs. DFEU.L — Risk / Return Rank
DFNG.L
DFEU.L
DFNG.L vs. DFEU.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 Europe Defence UCITS ETF EUR Accumulating (DFEU.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 | DFEU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | — | — |
| Martin ratioReturn relative to average drawdown | 2.23 | — | — |
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 | DFEU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.97 | -0.45 | +2.41 |
Drawdowns
DFNG.L vs. DFEU.L - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -18.38%, smaller than the maximum DFEU.L drawdown of -20.99%. Use the drawdown chart below to compare losses from any high point for DFNG.L and DFEU.L.
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Drawdown Indicators
| DFNG.L | DFEU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -20.99% | +2.61% |
Max Drawdown (1Y)Largest decline over 1 year | -18.38% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | — | — |
Current DrawdownCurrent decline from peak | -15.77% | -15.78% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -10.14% | +7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.40% | — | — |
Volatility
DFNG.L vs. DFEU.L - Volatility Comparison
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Volatility by Period
| DFNG.L | DFEU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 18.80% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.20% | 32.69% | -8.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.40% | 32.69% | -12.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 32.69% | -12.29% |
DFNG.L vs. DFEU.L - Expense Ratio Comparison
DFNG.L has a 0.55% expense ratio, which is higher than DFEU.L's 0.35% expense ratio.
Dividends
DFNG.L vs. DFEU.L - Dividend Comparison
Neither DFNG.L nor DFEU.L has paid dividends to shareholders.
Frequently Asked Questions
DFNG.L and DFEU.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DFEU.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DFEU.L is cheaper with a 0.35% expense ratio, compared with 0.55% for DFNG.L.
DFNG.L tracks MarketVector Global Defense Industry index, while DFEU.L tracks STOXX Europe Targeted Defence Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFNG.L and 0.35% for DFEU.L.
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