DFNS.L vs. ISX5.L
DFNS.L (VanEck Defense UCITS ETF) and ISX5.L (iShares Core EURO STOXX 50 UCITS ETF) are both exchange-traded funds - DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index, while ISX5.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 3 years, DFNS.L returned 40.45%/yr vs 18.31%/yr for ISX5.L. At a 0.48 correlation, their price movements are largely independent. DFNS.L charges 0.55%/yr vs 0.00%/yr for ISX5.L.
Performance
DFNS.L vs. ISX5.L - Performance Comparison
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Returns By Period
In the year-to-date period, DFNS.L achieves a 0.90% return, which is significantly lower than ISX5.L's 7.24% return.
DFNS.L
- 1D
- 0.00%
- 1M
- -1.09%
- YTD
- 0.90%
- 6M
- 2.54%
- 1Y
- 10.82%
- 3Y*
- 40.45%
- 5Y*
- —
- 10Y*
- —
ISX5.L
- 1D
- 2.46%
- 1M
- 3.59%
- YTD
- 7.24%
- 6M
- 8.56%
- 1Y
- 19.84%
- 3Y*
- 18.31%
- 5Y*
- 10.63%
- 10Y*
- 13.05%
DFNS.L vs. ISX5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFNS.L VanEck Defense UCITS ETF | 0.90% | 68.21% | 43.74% | 25.97% |
ISX5.L iShares Core EURO STOXX 50 UCITS ETF | 7.24% | 37.35% | 4.59% | 10.16% |
Correlation
The correlation between DFNS.L and ISX5.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.48 |
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Return for Risk
DFNS.L vs. ISX5.L — Risk / Return Rank
DFNS.L
ISX5.L
DFNS.L vs. ISX5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNS.L) and iShares Core EURO STOXX 50 UCITS ETF (ISX5.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DFNS.L | ISX5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.19 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.39 | -0.74 |
| Martin ratioReturn relative to average drawdown | 1.61 | 4.69 | -3.07 |
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Drawdowns
DFNS.L vs. ISX5.L - Drawdown Comparison
The maximum DFNS.L drawdown since its inception was -19.66%, smaller than the maximum ISX5.L drawdown of -38.62%. Use the drawdown chart below to compare losses from any high point for DFNS.L and ISX5.L.
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Drawdown Indicators
| DFNS.L | ISX5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.66% | -38.62% | +18.96% |
Max Drawdown (1Y)Largest decline over 1 year | -19.66% | -12.92% | -6.74% |
Max Drawdown (3Y)Largest decline over 3 years | -19.66% | -15.36% | -4.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.86% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.62% | — |
Current DrawdownCurrent decline from peak | -17.48% | -0.19% | -17.29% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -8.34% | +4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.00% | 3.85% | +4.15% |
Volatility
DFNS.L vs. ISX5.L - Volatility Comparison
VanEck Defense UCITS ETF (DFNS.L) has a higher volatility of 8.29% compared to iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) at 5.29%. This indicates that DFNS.L's price experiences larger fluctuations and is considered to be riskier than ISX5.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 | ISX5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.29% | 5.29% | +3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 19.56% | 15.25% | +4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.07% | 18.30% | +6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 21.91% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.58% | 21.97% | -0.39% |
DFNS.L vs. ISX5.L - Expense Ratio Comparison
DFNS.L has a 0.55% expense ratio, which is higher than ISX5.L's 0.00% expense ratio.
Dividends
DFNS.L vs. ISX5.L - Dividend Comparison
Neither DFNS.L nor ISX5.L has paid dividends to shareholders.
Frequently Asked Questions
DFNS.L and ISX5.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISX5.L is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISX5.L is cheaper with a 0.00% expense ratio, compared with 0.55% for DFNS.L.
DFNS.L is categorized as Aerospace & Defense, while ISX5.L is Europe Equities. DFNS.L tracks MarketVector™ Global Defense Industry Index, while ISX5.L tracks MSCI EMU NR EUR. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFNS.L and 0.00% for ISX5.L.
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