DFNS.L vs. IUES.L
DFNS.L (VanEck Defense UCITS ETF) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index, while IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, DFNS.L returned 42.95%/yr vs 17.06%/yr for IUES.L. At a 0.21 correlation, their price movements are largely independent. DFNS.L charges 0.55%/yr vs 0.15%/yr for IUES.L.
Performance
DFNS.L vs. IUES.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 IUES.L's 30.93% return.
DFNS.L
- 1D
- -1.80%
- 1M
- -5.10%
- YTD
- 2.88%
- 6M
- 8.71%
- 1Y
- 15.78%
- 3Y*
- 42.95%
- 5Y*
- —
- 10Y*
- —
IUES.L
- 1D
- 2.28%
- 1M
- 0.12%
- YTD
- 30.93%
- 6M
- 30.27%
- 1Y
- 44.67%
- 3Y*
- 17.06%
- 5Y*
- 20.42%
- 10Y*
- 9.52%
DFNS.L vs. IUES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFNS.L VanEck Defense UCITS ETF | 2.88% | 68.21% | 43.74% | 25.73% |
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 30.93% | 9.82% | 3.87% | 0.15% |
Correlation
The correlation between DFNS.L and IUES.L is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.21 |
The correlation between DFNS.L and IUES.L shifts across timeframes, from -0.00 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFNS.L vs. IUES.L — Risk / Return Rank
DFNS.L
IUES.L
DFNS.L vs. IUES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNS.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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 | IUES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.34 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 3.07 | -2.23 |
| Martin ratioReturn relative to average drawdown | 2.09 | 9.67 | -7.58 |
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 | IUES.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 2.04 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.76 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.01 | 0.31 | +1.70 |
Drawdowns
DFNS.L vs. IUES.L - Drawdown Comparison
The maximum DFNS.L drawdown since its inception was -18.72%, smaller than the maximum IUES.L drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for DFNS.L and IUES.L.
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Drawdown Indicators
| DFNS.L | IUES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -66.78% | +48.06% |
Max Drawdown (1Y)Largest decline over 1 year | -18.72% | -14.49% | -4.23% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | -20.90% | +2.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.78% | — |
Current DrawdownCurrent decline from peak | -15.86% | -7.11% | -8.75% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -14.21% | +10.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.50% | 4.61% | +2.89% |
Volatility
DFNS.L vs. IUES.L - Volatility Comparison
VanEck Defense UCITS ETF (DFNS.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) have volatilities of 8.07% and 8.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFNS.L | IUES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.07% | 8.17% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 19.53% | 18.58% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.88% | 21.87% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.56% | 26.72% | -5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 28.50% | -6.94% |
DFNS.L vs. IUES.L - Expense Ratio Comparison
DFNS.L has a 0.55% expense ratio, which is higher than IUES.L's 0.15% expense ratio.
Dividends
DFNS.L vs. IUES.L - Dividend Comparison
Neither DFNS.L nor IUES.L has paid dividends to shareholders.
Frequently Asked Questions
DFNS.L and IUES.L have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUES.L is cheaper with a 0.15% expense ratio, compared with 0.55% for DFNS.L.
DFNS.L is categorized as Aerospace & Defense, while IUES.L is Energy Equities. DFNS.L tracks MarketVector™ Global Defense Industry Index, while IUES.L tracks MSCI World/Energy NR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for DFNS.L and 0.15% for IUES.L.
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