DFNS.L vs. IDFN.L
DFNS.L (VanEck Defense UCITS ETF) and IDFN.L (Invesco Defence Innovation UCITS ETF Acc) are both Aerospace & Defense funds - DFNS.L tracks the MarketVector™ Global Defense Industry Index while IDFN.L tracks the S&P Kensho Global Future Defense Index. Both are passively managed. Over the past year, DFNS.L returned 15.78% vs 75.98% for IDFN.L. A 0.78 correlation means they provide meaningful diversification when combined. DFNS.L charges 0.55%/yr vs 0.35%/yr for IDFN.L.
Performance
DFNS.L vs. IDFN.L - Performance Comparison
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Returns By Period
In the year-to-date period, DFNS.L achieves a 2.88% return, which is significantly lower than IDFN.L's 34.54% return.
DFNS.L
- 1D
- -1.80%
- 1M
- -5.10%
- YTD
- 2.88%
- 6M
- 8.71%
- 1Y
- 15.78%
- 3Y*
- 42.95%
- 5Y*
- —
- 10Y*
- —
IDFN.L
- 1D
- -1.85%
- 1M
- 12.42%
- YTD
- 34.54%
- 6M
- 43.45%
- 1Y
- 75.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNS.L vs. IDFN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DFNS.L VanEck Defense UCITS ETF | 2.88% | 68.21% | -2.34% |
IDFN.L Invesco Defence Innovation UCITS ETF Acc | 34.54% | 55.93% | 6.12% |
Correlation
The correlation between DFNS.L and IDFN.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024 | 0.78 |
The correlation between DFNS.L and IDFN.L has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.
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Return for Risk
DFNS.L vs. IDFN.L — Risk / Return Rank
DFNS.L
IDFN.L
DFNS.L vs. IDFN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNS.L) and Invesco Defence Innovation UCITS ETF Acc (IDFN.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.
| DFNS.L | IDFN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.29 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.45 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 5.65 | -4.81 |
| Martin ratioReturn relative to average drawdown | 2.09 | 16.53 | -14.44 |
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
| DFNS.L | IDFN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 2.92 | -2.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.01 | 2.43 | -0.43 |
Drawdowns
DFNS.L vs. IDFN.L - Drawdown Comparison
The maximum DFNS.L drawdown since its inception was -18.72%, which is greater than IDFN.L's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for DFNS.L and IDFN.L.
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Drawdown Indicators
| DFNS.L | IDFN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -13.71% | -5.01% |
Max Drawdown (1Y)Largest decline over 1 year | -18.72% | -13.39% | -5.33% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | — | — |
Current DrawdownCurrent decline from peak | -15.86% | -5.01% | -10.85% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -2.99% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.50% | 4.58% | +2.92% |
Volatility
DFNS.L vs. IDFN.L - Volatility Comparison
The current volatility for VanEck Defense UCITS ETF (DFNS.L) is 8.07%, while Invesco Defence Innovation UCITS ETF Acc (IDFN.L) has a volatility of 10.26%. This indicates that DFNS.L experiences smaller price fluctuations and is considered to be less risky than IDFN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFNS.L | IDFN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.07% | 10.26% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 19.53% | 21.07% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.88% | 25.94% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.56% | 26.89% | -5.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 26.89% | -5.33% |
DFNS.L vs. IDFN.L - Expense Ratio Comparison
DFNS.L has a 0.55% expense ratio, which is higher than IDFN.L's 0.35% expense ratio.
Dividends
DFNS.L vs. IDFN.L - Dividend Comparison
Neither DFNS.L nor IDFN.L has paid dividends to shareholders.
Frequently Asked Questions
DFNS.L and IDFN.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IDFN.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IDFN.L is cheaper with a 0.35% expense ratio, compared with 0.55% for DFNS.L.
DFNS.L tracks MarketVector™ Global Defense Industry Index, while IDFN.L tracks S&P Kensho Global Future Defense Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.55% for DFNS.L and 0.35% for IDFN.L.
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