DFNG.L vs. XAUUSD=X
DFNG.L (VanEck Defense ETF A USD Acc GBP) is Aerospace & Defense fund tracking the MarketVector Global Defense Industry index, while XAUUSD=X (Gold Spot Price US Dollar) is a currency. Over the past 3 years, DFNG.L returned 39.23%/yr vs 27.08%/yr for XAUUSD=X. At a 0.10 correlation, their price movements are largely independent.
Performance
DFNG.L vs. XAUUSD=X - Performance Comparison
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Different Trading Currencies
DFNG.L is traded in GBP, while XAUUSD=X is traded in USD. To make them comparable, the XAUUSD=X 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 3.59% return, which is significantly higher than XAUUSD=X's 1.13% return.
DFNG.L
- 1D
- 0.47%
- 1M
- -2.66%
- YTD
- 3.59%
- 6M
- 7.13%
- 1Y
- 15.22%
- 3Y*
- 39.23%
- 5Y*
- —
- 10Y*
- —
XAUUSD=X
- 1D
- -2.69%
- 1M
- -5.99%
- YTD
- 1.13%
- 6M
- 3.01%
- 1Y
- 31.34%
- 3Y*
- 27.08%
- 5Y*
- 19.43%
- 10Y*
- 14.26%
DFNG.L vs. XAUUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFNG.L VanEck Defense ETF A USD Acc GBP | 3.59% | 56.54% | 46.20% | 22.89% |
XAUUSD=X Gold Spot Price US Dollar | 1.13% | 53.01% | 29.46% | -0.11% |
Correlation
The correlation between DFNG.L and XAUUSD=X is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.10 |
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Return for Risk
DFNG.L vs. XAUUSD=X — Risk / Return Rank
DFNG.L
XAUUSD=X
DFNG.L vs. XAUUSD=X - 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 Gold Spot Price US Dollar (XAUUSD=X). 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 | XAUUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.24 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.33 | -0.40 |
| Martin ratioReturn relative to average drawdown | 2.28 | 3.40 | -1.12 |
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 | XAUUSD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.70 | 1.15 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.97 | 0.71 | +1.26 |
Drawdowns
DFNG.L vs. XAUUSD=X - Drawdown Comparison
The maximum DFNG.L drawdown since its inception was -18.38%, smaller than the maximum XAUUSD=X drawdown of -41.01%. Use the drawdown chart below to compare losses from any high point for DFNG.L and XAUUSD=X.
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Drawdown Indicators
| DFNG.L | XAUUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -41.01% | +22.63% |
Max Drawdown (1Y)Largest decline over 1 year | -18.38% | -18.58% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | -18.58% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.58% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.42% | — |
Current DrawdownCurrent decline from peak | -15.37% | -18.58% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -12.44% | +9.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 7.96% | -0.50% |
Volatility
DFNG.L vs. XAUUSD=X - Volatility Comparison
VanEck Defense ETF A USD Acc GBP (DFNG.L) has a higher volatility of 7.88% compared to Gold Spot Price US Dollar (XAUUSD=X) at 4.50%. This indicates that DFNG.L's price experiences larger fluctuations and is considered to be riskier than XAUUSD=X 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 | XAUUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.88% | 4.50% | +3.38% |
Volatility (6M)Calculated over the trailing 6-month period | 18.71% | 19.82% | -1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.17% | 21.48% | +2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.38% | 15.42% | +4.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.38% | 15.40% | +4.98% |
Frequently Asked Questions
DFNG.L and XAUUSD=X have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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