DFNG.L vs. WENS.L
DFNG.L (VanEck Defense ETF A USD Acc GBP) and WENS.L (iShares MSCI World Energy Sector UCITS ETF USD (Dist)) are both exchange-traded funds - DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index, while WENS.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, DFNG.L returned 39.39%/yr vs 14.24%/yr for WENS.L. At a 0.21 correlation, their price movements are largely independent. DFNG.L charges 0.55%/yr vs 0.25%/yr for WENS.L.
Performance
DFNG.L vs. WENS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DFNG.L achieves a 3.11% return, which is significantly lower than WENS.L's 31.95% return.
DFNG.L
- 1D
- -1.51%
- 1M
- -3.80%
- YTD
- 3.11%
- 6M
- 7.91%
- 1Y
- 16.52%
- 3Y*
- 39.39%
- 5Y*
- —
- 10Y*
- —
WENS.L
- 1D
- 2.03%
- 1M
- 0.99%
- YTD
- 31.95%
- 6M
- 27.20%
- 1Y
- 42.36%
- 3Y*
- 14.24%
- 5Y*
- —
- 10Y*
- —
DFNG.L vs. WENS.L - 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% |
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist) | 31.95% | 3.24% | 2.09% | 1.08% |
Correlation
The correlation between DFNG.L and WENS.L is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.21 |
The correlation between DFNG.L and WENS.L shifts across timeframes, from -0.01 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DFNG.L vs. WENS.L — Risk / Return Rank
DFNG.L
WENS.L
DFNG.L vs. WENS.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 World Energy Sector UCITS ETF USD (Dist) (WENS.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 | WENS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.36 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 2.88 | -1.99 |
| Martin ratioReturn relative to average drawdown | 2.23 | 9.35 | -7.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| DFNG.L | WENS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 1.98 | -1.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.97 | 0.60 | +1.37 |
Drawdowns
DFNG.L vs. WENS.L - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -18.38%, smaller than the maximum WENS.L drawdown of -22.49%. Use the drawdown chart below to compare losses from any high point for DFNG.L and WENS.L.
Loading charts...
Drawdown Indicators
| DFNG.L | WENS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -22.49% | +4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -18.38% | -14.63% | -3.75% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | -22.49% | +4.11% |
Current DrawdownCurrent decline from peak | -15.77% | -7.22% | -8.55% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -9.15% | +6.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.40% | 4.52% | +2.88% |
Volatility
DFNG.L vs. WENS.L - Volatility Comparison
VanEck Defense ETF A USD Acc GBP (DFNG.L) and iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L) have volatilities of 7.86% and 8.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DFNG.L | WENS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 8.03% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.80% | 18.21% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.20% | 21.39% | +2.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.40% | 21.50% | -1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 21.50% | -1.10% |
DFNG.L vs. WENS.L - Expense Ratio Comparison
DFNG.L has a 0.55% expense ratio, which is higher than WENS.L's 0.25% expense ratio.
Dividends
DFNG.L vs. WENS.L - Dividend Comparison
Neither DFNG.L nor WENS.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DFNG.L VanEck Defense ETF A USD Acc GBP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist) | 0.00% | 0.00% | 1.75% | 3.61% | 1.77% |
Frequently Asked Questions
DFNG.L and WENS.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WENS.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WENS.L is cheaper with a 0.25% expense ratio, compared with 0.55% for DFNG.L.
DFNG.L is categorized as Aerospace & Defense, while WENS.L is Energy Equities. DFNG.L tracks MarketVector Global Defense Industry index, while WENS.L tracks MSCI World/Energy NR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFNG.L and 0.25% for WENS.L.
Find the right allocation for DFNG.L and WENS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer