GFEA.DE vs. DFEN.DE
GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - GFEA.DE is a High Yield Bonds fund tracking the ICE Global Fallen Angel High Yield 10% Constrained, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past year, GFEA.DE returned 7.23% vs 12.18% for DFEN.DE. At a 0.25 correlation, their price movements are largely independent. GFEA.DE charges 0.40%/yr vs 0.55%/yr for DFEN.DE.
Performance
GFEA.DE vs. DFEN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GFEA.DE achieves a 5.14% return, which is significantly higher than DFEN.DE's 4.02% return.
GFEA.DE
- 1D
- -0.60%
- 1M
- 1.51%
- YTD
- 5.14%
- 6M
- 4.54%
- 1Y
- 7.23%
- 3Y*
- 6.53%
- 5Y*
- 4.25%
- 10Y*
- —
DFEN.DE
- 1D
- 0.30%
- 1M
- -2.84%
- YTD
- 4.02%
- 6M
- 8.12%
- 1Y
- 12.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GFEA.DE vs. DFEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 5.14% | -2.31% | 12.20% | 5.33% |
DFEN.DE VanEck Defense UCITS ETF A | 4.02% | 50.76% | 51.97% | 8.67% |
Correlation
The correlation between GFEA.DE and DFEN.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023 | 0.25 |
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Return for Risk
GFEA.DE vs. DFEN.DE — Risk / Return Rank
GFEA.DE
DFEN.DE
GFEA.DE vs. DFEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) and VanEck Defense UCITS ETF A (DFEN.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.
| GFEA.DE | DFEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.11 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 0.75 | +2.16 |
| Martin ratioReturn relative to average drawdown | 9.56 | 1.81 | +7.75 |
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
| GFEA.DE | DFEN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.56 | +0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 1.75 | -0.98 |
Drawdowns
GFEA.DE vs. DFEN.DE - Drawdown Comparison
The maximum GFEA.DE drawdown since its inception was -22.87%, which is greater than DFEN.DE's maximum drawdown of -18.60%. Use the drawdown chart below to compare losses from any high point for GFEA.DE and DFEN.DE.
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Drawdown Indicators
| GFEA.DE | DFEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.87% | -18.60% | -4.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -18.60% | +16.16% |
Max Drawdown (3Y)Largest decline over 3 years | -9.98% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.97% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | -15.21% | +14.61% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -3.27% | -0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 7.72% | -6.97% |
Volatility
GFEA.DE vs. DFEN.DE - Volatility Comparison
The current volatility for VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) is 1.85%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.38%. This indicates that GFEA.DE experiences smaller price fluctuations and is considered to be less risky than DFEN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GFEA.DE | DFEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 7.38% | -5.53% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 19.16% | -14.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 24.79% | -18.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.72% | 21.47% | -13.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.51% | 21.47% | -11.96% |
GFEA.DE vs. DFEN.DE - Expense Ratio Comparison
GFEA.DE has a 0.40% expense ratio, which is lower than DFEN.DE's 0.55% expense ratio.
Dividends
GFEA.DE vs. DFEN.DE - Dividend Comparison
Neither GFEA.DE nor DFEN.DE has paid dividends to shareholders.
Frequently Asked Questions
GFEA.DE and DFEN.DE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GFEA.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GFEA.DE is cheaper with a 0.40% expense ratio, compared with 0.55% for DFEN.DE.
GFEA.DE is categorized as High Yield Bonds, while DFEN.DE is Aerospace & Defense. GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained, while DFEN.DE tracks MarketVector Global Defense Industry Index. Their fees differ too: 0.40% for GFEA.DE and 0.55% for DFEN.DE.
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