EIMI.L vs. DFNS.L
EIMI.L (iShares Core MSCI EM IMI UCITS ETF) and DFNS.L (VanEck Defense UCITS ETF) are both exchange-traded funds - EIMI.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index, while DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past 3 years, EIMI.L returned 21.64%/yr vs 40.45%/yr for DFNS.L. At a 0.42 correlation, their price movements are largely independent. EIMI.L charges 0.18%/yr vs 0.55%/yr for DFNS.L.
Performance
EIMI.L vs. DFNS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EIMI.L achieves a 22.83% return, which is significantly higher than DFNS.L's 0.90% return.
EIMI.L
- 1D
- 3.53%
- 1M
- 1.15%
- YTD
- 22.83%
- 6M
- 26.10%
- 1Y
- 43.20%
- 3Y*
- 21.64%
- 5Y*
- 7.50%
- 10Y*
- 10.60%
DFNS.L
- 1D
- 0.00%
- 1M
- -0.02%
- YTD
- 0.90%
- 6M
- 2.54%
- 1Y
- 12.91%
- 3Y*
- 40.45%
- 5Y*
- —
- 10Y*
- —
EIMI.L vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 22.83% | 32.16% | 7.36% | 6.75% |
DFNS.L VanEck Defense UCITS ETF | 0.90% | 68.21% | 43.74% | 25.97% |
Correlation
The correlation between EIMI.L and DFNS.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.42 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EIMI.L vs. DFNS.L — Risk / Return Rank
EIMI.L
DFNS.L
EIMI.L vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EM IMI UCITS ETF (EIMI.L) and VanEck Defense UCITS ETF (DFNS.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.
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.
| EIMI.L | DFNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.10 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 0.66 | +2.74 |
| Martin ratioReturn relative to average drawdown | 11.76 | 1.61 | +10.15 |
Loading charts...
Drawdowns
EIMI.L vs. DFNS.L - Drawdown Comparison
The maximum EIMI.L drawdown since its inception was -38.73%, which is greater than DFNS.L's maximum drawdown of -19.66%. Use the drawdown chart below to compare losses from any high point for EIMI.L and DFNS.L.
Loading charts...
Drawdown Indicators
| EIMI.L | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.73% | -19.66% | -19.07% |
Max Drawdown (1Y)Largest decline over 1 year | -12.66% | -19.66% | +7.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.44% | -19.66% | +2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -35.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | — | — |
Current DrawdownCurrent decline from peak | -3.75% | -17.48% | +13.73% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -3.49% | -10.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 8.00% | -4.34% |
Volatility
EIMI.L vs. DFNS.L - Volatility Comparison
iShares Core MSCI EM IMI UCITS ETF (EIMI.L) and VanEck Defense UCITS ETF (DFNS.L) have volatilities of 8.37% and 8.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EIMI.L | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 8.29% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 17.62% | 19.56% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.94% | 25.07% | -5.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 21.58% | -3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.20% | 21.58% | -2.38% |
EIMI.L vs. DFNS.L - Expense Ratio Comparison
EIMI.L has a 0.18% expense ratio, which is lower than DFNS.L's 0.55% expense ratio.
Dividends
EIMI.L vs. DFNS.L - Dividend Comparison
Neither EIMI.L nor DFNS.L has paid dividends to shareholders.
Frequently Asked Questions
EIMI.L and DFNS.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIMI.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIMI.L is cheaper with a 0.18% expense ratio, compared with 0.55% for DFNS.L.
EIMI.L is categorized as Emerging Markets Equities, while DFNS.L is Aerospace & Defense. EIMI.L tracks MSCI Emerging Markets Investable Market Index, while DFNS.L tracks MarketVector™ Global Defense Industry Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.18% for EIMI.L and 0.55% for DFNS.L.
Find the right allocation for EIMI.L and DFNS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer