DFNS.L vs. ARMR.AX
DFNS.L (VanEck Defense UCITS ETF) and ARMR.AX (Betashares Global Defence ETF) are both Aerospace & Defense funds - DFNS.L tracks the MarketVector™ Global Defense Industry Index while ARMR.AX tracks the VettaFi Global Defence Leaders Index. Both are passively managed. Over the past year, DFNS.L returned 15.78% vs 17.16% for ARMR.AX. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
DFNS.L vs. ARMR.AX - Performance Comparison
Loading charts...
Different Trading Currencies
DFNS.L is traded in USD, while ARMR.AX is traded in AUD. To make them comparable, the ARMR.AX values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, DFNS.L achieves a 2.88% return, which is significantly lower than ARMR.AX's 3.52% return.
DFNS.L
- 1D
- -1.80%
- 1M
- -5.10%
- YTD
- 2.88%
- 6M
- 8.71%
- 1Y
- 15.78%
- 3Y*
- 42.95%
- 5Y*
- —
- 10Y*
- —
ARMR.AX
- 1D
- -1.55%
- 1M
- 0.35%
- YTD
- 3.52%
- 6M
- 10.54%
- 1Y
- 17.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNS.L vs. ARMR.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DFNS.L VanEck Defense UCITS ETF | 2.88% | 68.21% | 2.61% |
ARMR.AX Betashares Global Defence ETF | 3.52% | 59.28% | 2.17% |
Correlation
The correlation between DFNS.L and ARMR.AX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2024 | 0.37 |
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
DFNS.L vs. ARMR.AX — Risk / Return Rank
DFNS.L
ARMR.AX
DFNS.L vs. ARMR.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNS.L) and Betashares Global Defence ETF (ARMR.AX). 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.
| DFNS.L | ARMR.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.13 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 0.98 | -0.15 |
| Martin ratioReturn relative to average drawdown | 2.09 | 2.59 | -0.50 |
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
| DFNS.L | ARMR.AX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 0.70 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.01 | 1.48 | +0.53 |
Drawdowns
DFNS.L vs. ARMR.AX - Drawdown Comparison
The maximum DFNS.L drawdown since its inception was -18.72%, which is greater than ARMR.AX's maximum drawdown of -17.28%. Use the drawdown chart below to compare losses from any high point for DFNS.L and ARMR.AX.
Loading charts...
Drawdown Indicators
| DFNS.L | ARMR.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -17.28% | -1.44% |
Max Drawdown (1Y)Largest decline over 1 year | -18.72% | -17.28% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | — | — |
Current DrawdownCurrent decline from peak | -15.86% | -12.92% | -2.94% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -4.02% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.50% | 6.59% | +0.91% |
Volatility
DFNS.L vs. ARMR.AX - Volatility Comparison
VanEck Defense UCITS ETF (DFNS.L) has a higher volatility of 8.07% compared to Betashares Global Defence ETF (ARMR.AX) at 6.73%. This indicates that DFNS.L's price experiences larger fluctuations and is considered to be riskier than ARMR.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DFNS.L | ARMR.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.07% | 6.73% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 19.53% | 19.81% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.88% | 24.25% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.56% | 24.94% | -3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 24.94% | -3.38% |
DFNS.L vs. ARMR.AX - Expense Ratio Comparison
Both DFNS.L and ARMR.AX have an expense ratio of 0.55%.
Dividends
DFNS.L vs. ARMR.AX - Dividend Comparison
DFNS.L has not paid dividends to shareholders, while ARMR.AX's dividend yield for the trailing twelve months is around 2.38%.
| Position | TTM | 2025 |
|---|---|---|
ARMR.AX Betashares Global Defence ETF | 2.38% | 2.18% |
DFNS.L VanEck Defense UCITS ETF | 0.00% | 0.00% |
Frequently Asked Questions
DFNS.L and ARMR.AX have a correlation of 0.36, 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.
DFNS.L and ARMR.AX have the same expense ratio: 0.55% per year.
DFNS.L tracks MarketVector™ Global Defense Industry Index, while ARMR.AX tracks VettaFi Global Defence Leaders Index. They also come from different issuers: VanEck and BetaShares.
Find the right allocation for DFNS.L and ARMR.AX
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