ESPO.L vs. DFNS.L
ESPO.L (VanEck Vectors Video Gaming and eSports UCITS ETF A USD) and DFNS.L (VanEck Defense UCITS ETF) are both exchange-traded funds - ESPO.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past 3 years, ESPO.L returned 19.90%/yr vs 42.94%/yr for DFNS.L. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
ESPO.L vs. DFNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, ESPO.L achieves a -13.69% return, which is significantly lower than DFNS.L's 3.39% return.
ESPO.L
- 1D
- -1.96%
- 1M
- -1.47%
- YTD
- -13.69%
- 6M
- -16.29%
- 1Y
- -12.37%
- 3Y*
- 19.90%
- 5Y*
- 6.61%
- 10Y*
- —
DFNS.L
- 1D
- 0.49%
- 1M
- -3.98%
- YTD
- 3.39%
- 6M
- 8.02%
- 1Y
- 13.96%
- 3Y*
- 42.94%
- 5Y*
- —
- 10Y*
- —
ESPO.L vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ESPO.L VanEck Vectors Video Gaming and eSports UCITS ETF A USD | -13.69% | 27.34% | 48.69% | 9.15% |
DFNS.L VanEck Defense UCITS ETF | 3.39% | 68.21% | 43.74% | 25.73% |
Correlation
The correlation between ESPO.L and DFNS.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.44 |
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Return for Risk
ESPO.L vs. DFNS.L — Risk / Return Rank
ESPO.L
DFNS.L
ESPO.L vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Video Gaming and eSports UCITS ETF A USD (ESPO.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.
| ESPO.L | DFNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.12 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 0.85 | -1.24 |
| Martin ratioReturn relative to average drawdown | -0.69 | 2.12 | -2.82 |
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
| ESPO.L | DFNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.58 | 0.64 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 2.02 | -1.33 |
Drawdowns
ESPO.L vs. DFNS.L - Drawdown Comparison
The maximum ESPO.L drawdown since its inception was -50.84%, which is greater than DFNS.L's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for ESPO.L and DFNS.L.
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Drawdown Indicators
| ESPO.L | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.84% | -18.72% | -32.12% |
Max Drawdown (1Y)Largest decline over 1 year | -27.42% | -18.72% | -8.70% |
Max Drawdown (3Y)Largest decline over 3 years | -27.42% | -18.72% | -8.70% |
Max Drawdown (5Y)Largest decline over 5 years | -47.52% | — | — |
Current DrawdownCurrent decline from peak | -25.32% | -15.44% | -9.88% |
Average DrawdownAverage peak-to-trough decline | -16.28% | -3.40% | -12.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.10% | 7.56% | +7.54% |
Volatility
ESPO.L vs. DFNS.L - Volatility Comparison
The current volatility for VanEck Vectors Video Gaming and eSports UCITS ETF A USD (ESPO.L) is 4.82%, while VanEck Defense UCITS ETF (DFNS.L) has a volatility of 8.10%. This indicates that ESPO.L experiences smaller price fluctuations and is considered to be less risky than DFNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESPO.L | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 8.10% | -3.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.92% | 19.53% | -5.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.01% | 24.86% | -6.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.14% | 21.55% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.60% | 21.55% | +3.05% |
ESPO.L vs. DFNS.L - Expense Ratio Comparison
Both ESPO.L and DFNS.L have an expense ratio of 0.55%.
Dividends
ESPO.L vs. DFNS.L - Dividend Comparison
Neither ESPO.L nor DFNS.L has paid dividends to shareholders.
Frequently Asked Questions
ESPO.L and DFNS.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ESPO.L and DFNS.L have the same expense ratio: 0.55% per year.
ESPO.L is categorized as Technology Equities, while DFNS.L is Aerospace & Defense. ESPO.L tracks MSCI World/Information Tech NR USD, while DFNS.L tracks MarketVector™ Global Defense Industry Index.
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