DFNX.L vs. NATP.L
DFNX.L (VanEck Defense UCITS ETF) and NATP.L (HANetf Future of Defence UCITS ETF Acc GBP) are both Aerospace & Defense funds - DFNX.L tracks the MarketVector Global Defense Industry Index while NATP.L tracks the EQM Future of Defence Index. Both are passively managed. Over the past year, DFNX.L returned 76.97% vs 20.99% for NATP.L. A 0.78 correlation means they provide meaningful diversification when combined. DFNX.L charges 0.55%/yr vs 0.49%/yr for NATP.L.
Performance
DFNX.L vs. NATP.L - Performance Comparison
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Returns By Period
In the year-to-date period, DFNX.L achieves a 34.91% return, which is significantly higher than NATP.L's 13.14% return.
DFNX.L
- 1D
- -1.79%
- 1M
- 13.81%
- YTD
- 34.91%
- 6M
- 42.66%
- 1Y
- 76.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NATP.L
- 1D
- -0.69%
- 1M
- 10.19%
- YTD
- 13.14%
- 6M
- 16.55%
- 1Y
- 20.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNX.L vs. NATP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DFNX.L VanEck Defense UCITS ETF | 34.91% | 45.07% | 9.49% |
NATP.L HANetf Future of Defence UCITS ETF Acc GBP | 13.14% | 43.73% | 5.91% |
Correlation
The correlation between DFNX.L and NATP.L is 0.75, 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 | 0.75 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2024 | 0.78 |
The correlation between DFNX.L and NATP.L has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.
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Return for Risk
DFNX.L vs. NATP.L — Risk / Return Rank
DFNX.L
NATP.L
DFNX.L vs. NATP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Defense UCITS ETF (DFNX.L) and HANetf Future of Defence UCITS ETF Acc GBP (NATP.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.
| DFNX.L | NATP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.20 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 6.33 | 1.81 | +4.52 |
| Martin ratioReturn relative to average drawdown | 16.40 | 4.03 | +12.36 |
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
| DFNX.L | NATP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.14 | 1.08 | +2.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.53 | 2.07 | +0.46 |
Drawdowns
DFNX.L vs. NATP.L - Drawdown Comparison
The maximum DFNX.L drawdown since its inception was -15.39%, which is greater than NATP.L's maximum drawdown of -11.66%. Use the drawdown chart below to compare losses from any high point for DFNX.L and NATP.L.
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Drawdown Indicators
| DFNX.L | NATP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.39% | -11.66% | -3.73% |
Max Drawdown (1Y)Largest decline over 1 year | -12.10% | -11.55% | -0.55% |
Current DrawdownCurrent decline from peak | -5.07% | -2.00% | -3.07% |
Average DrawdownAverage peak-to-trough decline | -3.51% | -2.36% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 5.20% | -0.52% |
Volatility
DFNX.L vs. NATP.L - Volatility Comparison
VanEck Defense UCITS ETF (DFNX.L) has a higher volatility of 9.16% compared to HANetf Future of Defence UCITS ETF Acc GBP (NATP.L) at 5.87%. This indicates that DFNX.L's price experiences larger fluctuations and is considered to be riskier than NATP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFNX.L | NATP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.16% | 5.87% | +3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 19.61% | 15.18% | +4.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.44% | 19.35% | +5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.72% | 18.36% | +6.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.72% | 18.36% | +6.36% |
DFNX.L vs. NATP.L - Expense Ratio Comparison
DFNX.L has a 0.55% expense ratio, which is higher than NATP.L's 0.49% expense ratio.
Dividends
DFNX.L vs. NATP.L - Dividend Comparison
Neither DFNX.L nor NATP.L has paid dividends to shareholders.
Frequently Asked Questions
DFNX.L and NATP.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NATP.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NATP.L is cheaper with a 0.49% expense ratio, compared with 0.55% for DFNX.L.
DFNX.L tracks MarketVector Global Defense Industry Index, while NATP.L tracks EQM Future of Defence Index. They also come from different issuers: VanEck and HANetf. Their fees differ too: 0.55% for DFNX.L and 0.49% for NATP.L.
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