DFNS.L vs. JEDG.L
DFNS.L (VanEck Defense UCITS ETF) and JEDG.L (VanEck Space Innovators UCITS ETF) are both exchange-traded funds - DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index, while JEDG.L is a Industrials Equities fund tracking the MSCI World/Materials NR USD. Both are passively managed. Over the past 3 years, DFNS.L returned 42.94%/yr vs 70.12%/yr for JEDG.L. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.
Performance
DFNS.L vs. JEDG.L - Performance Comparison
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Different Trading Currencies
DFNS.L is traded in USD, while JEDG.L is traded in GBP. To make them comparable, the JEDG.L 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 3.39% return, which is significantly lower than JEDG.L's 74.46% return.
DFNS.L
- 1D
- 0.49%
- 1M
- -4.34%
- YTD
- 3.39%
- 6M
- 6.74%
- 1Y
- 16.14%
- 3Y*
- 42.94%
- 5Y*
- —
- 10Y*
- —
JEDG.L
- 1D
- 1.54%
- 1M
- 22.67%
- YTD
- 74.46%
- 6M
- 98.10%
- 1Y
- 208.94%
- 3Y*
- 70.12%
- 5Y*
- —
- 10Y*
- —
DFNS.L vs. JEDG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFNS.L VanEck Defense UCITS ETF | 3.39% | 68.21% | 43.74% | 25.73% |
JEDG.L VanEck Space Innovators UCITS ETF | 74.46% | 93.99% | 43.70% | 6.74% |
Correlation
The correlation between DFNS.L and JEDG.L 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 (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.54 |
The correlation between DFNS.L and JEDG.L has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
DFNS.L vs. JEDG.L — Risk / Return Rank
DFNS.L
JEDG.L
DFNS.L vs. JEDG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNS.L) and VanEck Space Innovators UCITS ETF (JEDG.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 | JEDG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.96 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.57 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 8.47 | -7.61 |
| Martin ratioReturn relative to average drawdown | 2.12 | 28.03 | -25.90 |
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 | JEDG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 4.60 | -3.96 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.02 | 1.40 | +0.62 |
Drawdowns
DFNS.L vs. JEDG.L - Drawdown Comparison
The maximum DFNS.L drawdown since its inception was -18.72%, smaller than the maximum JEDG.L drawdown of -27.38%. Use the drawdown chart below to compare losses from any high point for DFNS.L and JEDG.L.
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Drawdown Indicators
| DFNS.L | JEDG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -27.38% | +8.66% |
Max Drawdown (1Y)Largest decline over 1 year | -18.72% | -24.52% | +5.80% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | -25.63% | +6.91% |
Current DrawdownCurrent decline from peak | -15.44% | -14.03% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -3.40% | -8.79% | +5.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.56% | 7.42% | +0.14% |
Volatility
DFNS.L vs. JEDG.L - Volatility Comparison
The current volatility for VanEck Defense UCITS ETF (DFNS.L) is 8.10%, while VanEck Space Innovators UCITS ETF (JEDG.L) has a volatility of 19.56%. This indicates that DFNS.L experiences smaller price fluctuations and is considered to be less risky than JEDG.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 | JEDG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 19.56% | -11.46% |
Volatility (6M)Calculated over the trailing 6-month period | 19.53% | 35.71% | -16.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.86% | 45.14% | -20.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.55% | 34.52% | -12.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 34.52% | -12.97% |
DFNS.L vs. JEDG.L - Expense Ratio Comparison
Both DFNS.L and JEDG.L have an expense ratio of 0.55%.
Dividends
DFNS.L vs. JEDG.L - Dividend Comparison
Neither DFNS.L nor JEDG.L has paid dividends to shareholders.
Frequently Asked Questions
DFNS.L and JEDG.L 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.
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 JEDG.L have the same expense ratio: 0.55% per year.
DFNS.L is categorized as Aerospace & Defense, while JEDG.L is Industrials Equities. DFNS.L tracks MarketVector™ Global Defense Industry Index, while JEDG.L tracks MSCI World/Materials NR USD.
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