DFNS.L vs. PPA
Compare and contrast key facts about VanEck Defense UCITS ETF (DFNS.L) and Invesco Aerospace & Defense ETF (PPA).
DFNS.L and PPA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFNS.L is a passively managed fund by VanEck that tracks the performance of the MarketVector™ Global Defense Industry Index. It was launched on Mar 31, 2023. PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005. Both DFNS.L and PPA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DFNS.L or PPA.
Key characteristics
| DFNS.L | PPA | |
|---|---|---|
| YTD Return | 58.96% | 33.93% |
| 1Y Return | 61.61% | 43.03% |
| Sharpe Ratio | 3.77 | 3.28 |
| Sortino Ratio | 4.97 | 4.43 |
| Omega Ratio | 1.65 | 1.59 |
| Calmar Ratio | 9.26 | 8.05 |
| Martin Ratio | 33.02 | 27.20 |
| Ulcer Index | 1.87% | 1.65% |
| Daily Std Dev | 16.38% | 13.66% |
| Max Drawdown | -8.31% | -57.37% |
| Current Drawdown | -0.79% | -1.22% |
Correlation
The correlation between DFNS.L and PPA is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
DFNS.L vs. PPA - Performance Comparison
In the year-to-date period, DFNS.L achieves a 58.96% return, which is significantly higher than PPA's 33.93% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DFNS.L vs. PPA - Expense Ratio Comparison
DFNS.L has a 0.55% expense ratio, which is lower than PPA's 0.61% expense ratio.
Risk-Adjusted Performance
DFNS.L vs. PPA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNS.L) and Invesco Aerospace & Defense ETF (PPA). 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.
Dividends
DFNS.L vs. PPA - Dividend Comparison
DFNS.L has not paid dividends to shareholders, while PPA's dividend yield for the trailing twelve months is around 0.53%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFNS.L VanEck Defense UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PPA Invesco Aerospace & Defense ETF | 0.53% | 0.67% | 0.83% | 0.59% | 0.88% | 0.95% | 0.90% | 0.67% | 1.70% | 1.41% | 0.62% | 1.26% |
Drawdowns
DFNS.L vs. PPA - Drawdown Comparison
The maximum DFNS.L drawdown since its inception was -8.31%, smaller than the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for DFNS.L and PPA. For additional features, visit the drawdowns tool.
Volatility
DFNS.L vs. PPA - Volatility Comparison
VanEck Defense UCITS ETF (DFNS.L) has a higher volatility of 6.59% compared to Invesco Aerospace & Defense ETF (PPA) at 5.79%. This indicates that DFNS.L's price experiences larger fluctuations and is considered to be riskier than PPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.