DFNG.L vs. TRET.L
DFNG.L (VanEck Defense UCITS ETF) and TRET.L (VanEck Global Real Estate UCITS ETF) are both exchange-traded funds - DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index, while TRET.L is a REIT fund tracking the GPR Global 100 Index. Both are passively managed. Over the past 3 years, DFNG.L returned 32.59%/yr vs 11.17%/yr for TRET.L. At a 0.22 correlation, their price movements are largely independent. DFNG.L charges 0.55%/yr vs 0.25%/yr for TRET.L.
Performance
DFNG.L vs. TRET.L - Performance Comparison
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Different Trading Currencies
DFNG.L is traded in GBP, while TRET.L is traded in USD. To make them comparable, the TRET.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 -6.30% return, which is significantly lower than TRET.L's 12.92% return.
DFNG.L
- 1D
- 0.00%
- 1M
- -8.90%
- 6M
- -23.06%
- YTD
- -6.30%
- 1Y
- -0.54%
- 3Y*
- 32.59%
- 5Y*
- —
- 10Y*
- —
TRET.L
- 1D
- 1.13%
- 1M
- 4.35%
- 6M
- 9.23%
- YTD
- 12.92%
- 1Y
- 18.99%
- 3Y*
- 11.17%
- 5Y*
- 3.82%
- 10Y*
- 5.14%
DFNG.L vs. TRET.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFNG.L VanEck Defense UCITS ETF | -6.30% | 56.54% | 46.20% | -1.18% |
TRET.L VanEck Global Real Estate UCITS ETF | 12.92% | 6.26% | 2.84% | 11.40% |
Correlation
The correlation between DFNG.L and TRET.L is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.22 |
The correlation between DFNG.L and TRET.L shifts across timeframes, from 0.05 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFNG.L vs. TRET.L — Risk / Return Rank
DFNG.L
TRET.L
DFNG.L vs. TRET.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNG.L) and VanEck Global Real Estate UCITS ETF (TRET.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 | TRET.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.25 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 2.10 | -2.12 |
| Martin ratioReturn relative to average drawdown | -0.05 | 6.44 | -6.49 |
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Drawdowns
DFNG.L vs. TRET.L - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -24.31%, smaller than the maximum TRET.L drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for DFNG.L and TRET.L.
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Drawdown Indicators
| DFNG.L | TRET.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.31% | -36.12% | +11.81% |
Max Drawdown (1Y)Largest decline over 1 year | -24.31% | -9.00% | -15.31% |
Max Drawdown (3Y)Largest decline over 3 years | -24.31% | -15.30% | -9.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.34% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.12% | — |
Current DrawdownCurrent decline from peak | -23.46% | 0.00% | -23.46% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -10.06% | +4.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.21% | 2.94% | +7.27% |
Volatility
DFNG.L vs. TRET.L - Volatility Comparison
VanEck Defense UCITS ETF (DFNG.L) has a higher volatility of 8.96% compared to VanEck Global Real Estate UCITS ETF (TRET.L) at 5.01%. This indicates that DFNG.L's price experiences larger fluctuations and is considered to be riskier than TRET.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 | TRET.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.96% | 5.01% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 11.18% | +8.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.73% | 13.20% | +12.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.64% | 15.78% | +7.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.64% | 17.71% | +5.93% |
DFNG.L vs. TRET.L - Expense Ratio Comparison
DFNG.L has a 0.55% expense ratio, which is higher than TRET.L's 0.25% expense ratio.
Dividends
DFNG.L vs. TRET.L - Dividend Comparison
DFNG.L has not paid dividends to shareholders, while TRET.L's dividend yield for the trailing twelve months is around 3.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DFNG.L VanEck Defense UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRET.L VanEck Global Real Estate UCITS ETF | 3.22% | 3.54% | 3.56% | 3.54% | 4.55% | 1.86% | 4.18% | 3.32% | 5.03% | 3.63% |
Frequently Asked Questions
DFNG.L and TRET.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRET.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRET.L is cheaper with a 0.25% expense ratio, compared with 0.55% for DFNG.L.
DFNG.L is categorized as Aerospace & Defense, while TRET.L is REIT. DFNG.L tracks MarketVector Global Defense Industry index, while TRET.L tracks GPR Global 100 Index. Their fees differ too: 0.55% for DFNG.L and 0.25% for TRET.L.
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