DFNX.L vs. JEDI

Last updated Jun 24, 2026

DFNX.L (VanEck Defense UCITS ETF) and JEDI (Defiance Drone & Modern Warfare ETF) are both Aerospace & Defense funds - DFNX.L tracks the MarketVector Global Defense Industry Index while JEDI tracks the BITA Drone & Modern Warfare Select Index. Both are passively managed. A 0.72 correlation means they provide meaningful diversification when combined. DFNX.L charges 0.55%/yr vs 0.69%/yr for JEDI.

Performance

DFNX.L vs. JEDI - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Defense UCITS ETF (DFNX.L) and Defiance Drone & Modern Warfare ETF (JEDI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DFNX.L is traded in GBp, while JEDI is traded in USD. To make them comparable, the JEDI values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, DFNX.L achieves a 25.15% return, which is significantly higher than JEDI's 18.83% return.

DFNX.L

• 1D: 0.00%
• 1M: -3.33%
• YTD: 25.15%
• 6M: 23.29%
• 1Y: 57.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEDI

• 1D: -2.91%
• 1M: -14.75%
• YTD: 18.83%
• 6M: 14.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFNX.L vs. JEDI - Yearly Performance Comparison

	2026 (YTD)	2025
DFNX.L VanEck Defense UCITS ETF	25.15%	4.27%
JEDI Defiance Drone & Modern Warfare ETF	18.83%	-3.95%

Correlation

The correlation between DFNX.L and JEDI is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	0.72

Return for Risk

DFNX.L vs. JEDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFNX.L

DFNX.L Risk / Return Rank: 42
DFNX.L Sharpe Ratio Rank: 35
DFNX.L Sortino Ratio Rank: 41
DFNX.L Omega Ratio Rank: 66
DFNX.L Calmar Ratio Rank: 39
DFNX.L Martin Ratio Rank: 29

JEDI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFNX.L vs. JEDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNX.L) and Defiance Drone & Modern Warfare ETF (JEDI). 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.

	DFNX.L	JEDI	Difference
Sharpe ratio: Return per unit of total volatility	1.16	—	—
Sortino ratio: Return per unit of downside risk	1.93	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	1.82	—	—
Martin ratio: Return relative to average drawdown	3.82	—	—

Drawdowns

DFNX.L vs. JEDI - Drawdown Comparison

The maximum DFNX.L drawdown since its inception was -31.65%, roughly equal to the maximum JEDI drawdown of -32.15%. Use the drawdown chart below to compare losses from any high point for DFNX.L and JEDI.

Drawdown Indicators

	DFNX.L	JEDI	Difference
Max Drawdown Largest peak-to-trough decline	-31.65%	-32.15%	+0.50%
Max Drawdown (1Y) Largest decline over 1 year	-31.65%	—	—
Current Drawdown Current decline from peak	-11.94%	-32.15%	+20.21%
Average Drawdown Average peak-to-trough decline	-8.29%	-10.13%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.07%	—	—

Volatility

Volatility by Period

	DFNX.L	JEDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	49.71%	50.33%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6,013.40%	50.33%	+5,963.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6,013.40%	50.33%	+5,963.07%

DFNX.L vs. JEDI - Expense Ratio Comparison

DFNX.L has a 0.55% expense ratio, which is lower than JEDI's 0.69% expense ratio.

Dividends

DFNX.L vs. JEDI - Dividend Comparison

Neither DFNX.L nor JEDI has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DFNX.L and JEDI in my portfolio?

DFNX.L and JEDI have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFNX.L or JEDI?

On fees, DFNX.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFNX.L or JEDI?

DFNX.L is cheaper with a 0.55% expense ratio, compared with 0.69% for JEDI.

What is the main difference between DFNX.L and JEDI?

DFNX.L tracks MarketVector Global Defense Industry Index, while JEDI tracks BITA Drone & Modern Warfare Select Index. Their fees differ too: 0.55% for DFNX.L and 0.69% for JEDI.