DFNG.L vs. DFNX.L
DFNG.L (VanEck Defense ETF A USD Acc GBP) and DFNX.L (VanEck Defense UCITS ETF) are both Aerospace & Defense funds from VanEck - DFNG.L tracks the MarketVector Global Defense Industry index while DFNX.L tracks the MarketVector Global Defense Industry Index. Both are passively managed. Over the past year, DFNG.L returned 16.52% vs 76.97% for DFNX.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.
Performance
DFNG.L vs. DFNX.L - Performance Comparison
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Different Trading Currencies
DFNG.L is traded in GBP, while DFNX.L is traded in GBp. To make them comparable, the DFNX.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 DFNX.L's 34.91% return.
DFNG.L
- 1D
- -1.51%
- 1M
- -3.80%
- YTD
- 3.11%
- 6M
- 7.91%
- 1Y
- 16.52%
- 3Y*
- 39.39%
- 5Y*
- —
- 10Y*
- —
DFNX.L
- 1D
- -1.79%
- 1M
- 13.81%
- YTD
- 34.91%
- 6M
- 42.66%
- 1Y
- 76.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNG.L vs. DFNX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DFNG.L VanEck Defense ETF A USD Acc GBP | 3.11% | 56.54% | 0.58% |
DFNX.L VanEck Defense UCITS ETF | 34.91% | 45.07% | 9.49% |
Correlation
The correlation between DFNG.L and DFNX.L is 0.79, 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 | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2024 | 0.79 |
The correlation between DFNG.L and DFNX.L has been stable across timeframes, ranging from 0.79 to 0.79 - a consistent structural relationship.
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Return for Risk
DFNG.L vs. DFNX.L — Risk / Return Rank
DFNG.L
DFNX.L
DFNG.L vs. DFNX.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 VanEck Defense UCITS ETF (DFNX.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 | DFNX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.48 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 6.33 | -5.43 |
| Martin ratioReturn relative to average drawdown | 2.23 | 16.40 | -14.17 |
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 | DFNX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 3.14 | -2.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.97 | 2.53 | -0.56 |
Drawdowns
DFNG.L vs. DFNX.L - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -18.38%, which is greater than DFNX.L's maximum drawdown of -15.39%. Use the drawdown chart below to compare losses from any high point for DFNG.L and DFNX.L.
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Drawdown Indicators
| DFNG.L | DFNX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -15.39% | -2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -18.38% | -12.10% | -6.28% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | — | — |
Current DrawdownCurrent decline from peak | -15.77% | -5.07% | -10.70% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -3.51% | +0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.40% | 4.68% | +2.72% |
Volatility
DFNG.L vs. DFNX.L - Volatility Comparison
The current volatility for VanEck Defense ETF A USD Acc GBP (DFNG.L) is 7.86%, while VanEck Defense UCITS ETF (DFNX.L) has a volatility of 9.16%. This indicates that DFNG.L experiences smaller price fluctuations and is considered to be less risky than DFNX.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 | DFNX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 9.16% | -1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 18.80% | 19.61% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.20% | 24.44% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.40% | 24.72% | -4.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 24.72% | -4.32% |
DFNG.L vs. DFNX.L - Expense Ratio Comparison
Both DFNG.L and DFNX.L have an expense ratio of 0.55%.
Dividends
DFNG.L vs. DFNX.L - Dividend Comparison
Neither DFNG.L nor DFNX.L has paid dividends to shareholders.
Frequently Asked Questions
DFNG.L and DFNX.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DFNG.L and DFNX.L have the same expense ratio: 0.55% per year.
DFNG.L tracks MarketVector Global Defense Industry index, while DFNX.L tracks MarketVector Global Defense Industry Index.
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