DFNS.L vs. DRNZ

Last updated Jun 4, 2026

DFNS.L (VanEck Defense UCITS ETF) and DRNZ (REX Drone ETF) are both Aerospace & Defense funds - DFNS.L tracks the MarketVector™ Global Defense Industry Index while DRNZ tracks the VettaFi Drone Index. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. DFNS.L charges 0.55%/yr vs 0.65%/yr for DRNZ.

Performance

DFNS.L vs. DRNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Defense UCITS ETF (DFNS.L) and REX Drone ETF (DRNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFNS.L achieves a 2.88% return, which is significantly lower than DRNZ's 24.77% return.

DFNS.L

• 1D: -1.80%
• 1M: -5.10%
• YTD: 2.88%
• 6M: 8.71%
• 1Y: 15.78%
• 3Y*: 42.95%
• 5Y*: —
• 10Y*: —

DRNZ

• 1D: -6.81%
• 1M: 4.78%
• YTD: 24.77%
• 6M: 32.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFNS.L vs. DRNZ - Yearly Performance Comparison

	2026 (YTD)	2025
DFNS.L VanEck Defense UCITS ETF	2.88%	-4.46%
DRNZ REX Drone ETF	24.77%	-10.89%

Correlation

The correlation between DFNS.L and DRNZ is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025	0.59

Return for Risk

DFNS.L vs. DRNZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFNS.L

DFNS.L Risk / Return Rank: 19
DFNS.L Sharpe Ratio Rank: 19
DFNS.L Sortino Ratio Rank: 20
DFNS.L Omega Ratio Rank: 18
DFNS.L Calmar Ratio Rank: 19
DFNS.L Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFNS.L vs. DRNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNS.L) and REX Drone ETF (DRNZ). 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	DRNZ	Difference
Sharpe ratio: Return per unit of total volatility	0.63	—	—
Sortino ratio: Return per unit of downside risk	1.06	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	0.84	—	—
Martin ratio: Return relative to average drawdown	2.09	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DFNS.L	DRNZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.01	0.39	+1.62

Drawdowns

DFNS.L vs. DRNZ - Drawdown Comparison

The maximum DFNS.L drawdown since its inception was -18.72%, smaller than the maximum DRNZ drawdown of -24.52%. Use the drawdown chart below to compare losses from any high point for DFNS.L and DRNZ.

Drawdown Indicators

	DFNS.L	DRNZ	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-24.52%	+5.80%
Max Drawdown (1Y) Largest decline over 1 year	-18.72%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	—	—
Current Drawdown Current decline from peak	-15.86%	-7.44%	-8.42%
Average Drawdown Average peak-to-trough decline	-3.39%	-11.12%	+7.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.50%	—	—

Volatility

Volatility by Period

	DFNS.L	DRNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.88%	50.82%	-25.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.56%	50.82%	-29.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.56%	50.82%	-29.26%

DFNS.L vs. DRNZ - Expense Ratio Comparison

DFNS.L has a 0.55% expense ratio, which is lower than DRNZ's 0.65% expense ratio.

Dividends

DFNS.L vs. DRNZ - Dividend Comparison

Neither DFNS.L nor DRNZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DFNS.L and DRNZ in my portfolio?

DFNS.L and DRNZ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFNS.L or DRNZ?

On fees, DFNS.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFNS.L or DRNZ?

DFNS.L is cheaper with a 0.55% expense ratio, compared with 0.65% for DRNZ.

What is the main difference between DFNS.L and DRNZ?

DFNS.L tracks MarketVector™ Global Defense Industry Index, while DRNZ tracks VettaFi Drone Index. They also come from different issuers: VanEck and REX. Their fees differ too: 0.55% for DFNS.L and 0.65% for DRNZ.