DFNG.L vs. EXH4.DE
DFNG.L (VanEck Defense ETF A USD Acc GBP) and EXH4.DE (iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE)) are both exchange-traded funds - DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index, while EXH4.DE is a Industrials Equities fund tracking the STOXX® Europe 600 Industrial Goods & Services. Both are passively managed. Over the past 3 years, DFNG.L returned 39.39%/yr vs 17.69%/yr for EXH4.DE. At a 0.50 correlation, their price movements are largely independent. DFNG.L charges 0.55%/yr vs 0.46%/yr for EXH4.DE.
Performance
DFNG.L vs. EXH4.DE - Performance Comparison
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Different Trading Currencies
DFNG.L is traded in GBP, while EXH4.DE is traded in EUR. To make them comparable, the EXH4.DE 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 EXH4.DE's 7.04% return.
DFNG.L
- 1D
- -1.51%
- 1M
- -3.80%
- YTD
- 3.11%
- 6M
- 7.91%
- 1Y
- 16.52%
- 3Y*
- 39.39%
- 5Y*
- —
- 10Y*
- —
EXH4.DE
- 1D
- -0.97%
- 1M
- 3.77%
- YTD
- 7.04%
- 6M
- 10.31%
- 1Y
- 18.09%
- 3Y*
- 17.69%
- 5Y*
- 11.26%
- 10Y*
- 13.14%
DFNG.L vs. EXH4.DE - 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% |
EXH4.DE iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) | 7.04% | 30.16% | 9.66% | 12.03% |
Correlation
The correlation between DFNG.L and EXH4.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.50 |
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Return for Risk
DFNG.L vs. EXH4.DE — Risk / Return Rank
DFNG.L
EXH4.DE
DFNG.L vs. EXH4.DE - 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 STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) (EXH4.DE). 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 | EXH4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.18 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 1.28 | -0.38 |
| Martin ratioReturn relative to average drawdown | 2.23 | 4.50 | -2.27 |
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 | EXH4.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 0.94 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.57 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.97 | 0.44 | +1.53 |
Drawdowns
DFNG.L vs. EXH4.DE - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -18.38%, smaller than the maximum EXH4.DE drawdown of -51.92%. Use the drawdown chart below to compare losses from any high point for DFNG.L and EXH4.DE.
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Drawdown Indicators
| DFNG.L | EXH4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -51.92% | +33.54% |
Max Drawdown (1Y)Largest decline over 1 year | -18.38% | -14.10% | -4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | -17.68% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.09% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.37% | — |
Current DrawdownCurrent decline from peak | -15.77% | -3.28% | -12.49% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -8.13% | +5.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.40% | 4.01% | +3.39% |
Volatility
DFNG.L vs. EXH4.DE - Volatility Comparison
VanEck Defense ETF A USD Acc GBP (DFNG.L) has a higher volatility of 7.86% compared to iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) (EXH4.DE) at 6.91%. This indicates that DFNG.L's price experiences larger fluctuations and is considered to be riskier than EXH4.DE 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 | EXH4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 6.91% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 18.80% | 16.23% | +2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.20% | 19.21% | +4.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.40% | 19.40% | +1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 19.35% | +1.05% |
DFNG.L vs. EXH4.DE - Expense Ratio Comparison
DFNG.L has a 0.55% expense ratio, which is higher than EXH4.DE's 0.46% expense ratio.
Dividends
DFNG.L vs. EXH4.DE - Dividend Comparison
DFNG.L has not paid dividends to shareholders, while EXH4.DE's dividend yield for the trailing twelve months is around 1.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
EXH4.DE iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE) | 1.19% | 1.31% | 1.51% | 1.72% | 1.68% | 1.08% | 0.85% | 1.69% | 1.67% | 2.38% | 2.10% | 2.79% |
Frequently Asked Questions
DFNG.L and EXH4.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXH4.DE is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXH4.DE is cheaper with a 0.46% expense ratio, compared with 0.55% for DFNG.L.
DFNG.L is categorized as Aerospace & Defense, while EXH4.DE is Industrials Equities. DFNG.L tracks MarketVector Global Defense Industry index, while EXH4.DE tracks STOXX® Europe 600 Industrial Goods & Services. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFNG.L and 0.46% for EXH4.DE.
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