ED3F.DE vs. DFNC.DE

Last updated Apr 14, 2026

ED3F.DE (Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating) and DFNC.DE (iShares Europe Defence UCITS ETF EUR Acc) are both Aerospace & Defense funds — ED3F.DE tracks the Mirae Asset Europe Defence Tech Index while DFNC.DE tracks the STOXX Europe Targeted Defence Index. Both are passively managed. With a 0.95 correlation, they move nearly in lockstep. ED3F.DE charges 0.40%/yr vs 0.35%/yr for DFNC.DE.

Performance

ED3F.DE vs. DFNC.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.DE) and iShares Europe Defence UCITS ETF EUR Acc (DFNC.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ED3F.DE achieves a 16.69% return, which is significantly higher than DFNC.DE's 15.40% return.

ED3F.DE

• 1D: -0.14%
• 1M: -2.24%
• YTD: 16.69%
• 6M: 4.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFNC.DE

• 1D: 2.00%
• 1M: -2.15%
• YTD: 15.40%
• 6M: 5.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ED3F.DE vs. DFNC.DE - Yearly Performance Comparison

	2026 (YTD)	2025
ED3F.DE Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating	16.69%	-1.33%
DFNC.DE iShares Europe Defence UCITS ETF EUR Acc	15.40%	-5.19%

Correlation

The correlation between ED3F.DE and DFNC.DE is 0.95 — these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2025	0.95

Return for Risk

ED3F.DE vs. DFNC.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.DE) and iShares Europe Defence UCITS ETF EUR Acc (DFNC.DE). 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.

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

Sharpe Ratios by Period

	ED3F.DE	DFNC.DE	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.36	+0.47

Drawdowns

ED3F.DE vs. DFNC.DE - Drawdown Comparison

The maximum ED3F.DE drawdown since its inception was -20.72%, roughly equal to the maximum DFNC.DE drawdown of -20.23%. Use the drawdown chart below to compare losses from any high point for ED3F.DE and DFNC.DE.

Drawdown Indicators

	ED3F.DE	DFNC.DE	Difference
Max Drawdown Largest peak-to-trough decline	-20.72%	-20.23%	-0.49%
Current Drawdown Current decline from peak	-7.61%	-4.78%	-2.83%
Average Drawdown Average peak-to-trough decline	-7.11%	-6.96%	-0.15%

Volatility

Volatility by Period

	ED3F.DE	DFNC.DE	Difference
Volatility (1Y) Calculated over the trailing 1-year period	30.14%	29.81%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.14%	29.81%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.14%	29.81%	+0.33%

ED3F.DE vs. DFNC.DE - Expense Ratio Comparison

ED3F.DE has a 0.40% expense ratio, which is higher than DFNC.DE's 0.35% expense ratio.

Dividends

ED3F.DE vs. DFNC.DE - Dividend Comparison

Neither ED3F.DE nor DFNC.DE has paid dividends to shareholders.

Tickers have no history of dividend payments