GIGB.L vs. DFNS.L
GIGB.L (VanEck S&P Global Mining UCITS ETF) and DFNS.L (VanEck Defense UCITS ETF) are both exchange-traded funds - GIGB.L is a Global Equities fund tracking the VanEck S&P Global Mining UCITS ETF, while DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past 3 years, GIGB.L returned 20.60%/yr vs 34.28%/yr for DFNS.L. At a 0.25 correlation, their price movements are largely independent. GIGB.L charges 0.50%/yr vs 0.55%/yr for DFNS.L.
Performance
GIGB.L vs. DFNS.L - Performance Comparison
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Different Trading Currencies
GIGB.L is traded in GBP, while DFNS.L is traded in USD. To make them comparable, the DFNS.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GIGB.L achieves a 0.48% return, which is significantly higher than DFNS.L's -4.62% return.
GIGB.L
- 1D
- 0.00%
- 1M
- -13.91%
- 6M
- -11.20%
- YTD
- 0.48%
- 1Y
- 52.68%
- 3Y*
- 20.60%
- 5Y*
- 13.45%
- 10Y*
- —
DFNS.L
- 1D
- 0.00%
- 1M
- -5.64%
- 6M
- -20.00%
- YTD
- -4.62%
- 1Y
- 2.63%
- 3Y*
- 34.28%
- 5Y*
- —
- 10Y*
- —
GIGB.L vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GIGB.L VanEck S&P Global Mining UCITS ETF | 0.48% | 77.74% | -7.37% | -1.18% |
DFNS.L VanEck Defense UCITS ETF | -4.62% | 56.23% | 46.26% | 22.03% |
Correlation
The correlation between GIGB.L and DFNS.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.25 |
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Return for Risk
GIGB.L vs. DFNS.L — Risk / Return Rank
GIGB.L
DFNS.L
GIGB.L vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck S&P Global Mining UCITS ETF (GIGB.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.
| GIGB.L | DFNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.04 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 0.11 | +1.84 |
| Martin ratioReturn relative to average drawdown | 5.30 | 0.26 | +5.03 |
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Drawdowns
GIGB.L vs. DFNS.L - Drawdown Comparison
The maximum GIGB.L drawdown since its inception was -45.07%, which is greater than DFNS.L's maximum drawdown of -24.00%. Use the drawdown chart below to compare losses from any high point for GIGB.L and DFNS.L.
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Drawdown Indicators
| GIGB.L | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -24.00% | -21.07% |
Max Drawdown (1Y)Largest decline over 1 year | -26.52% | -24.00% | -2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -26.52% | -24.00% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -29.29% | — | — |
Current DrawdownCurrent decline from peak | -24.02% | -22.27% | -1.75% |
Average DrawdownAverage peak-to-trough decline | -14.82% | -3.75% | -11.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.76% | 10.01% | -0.25% |
Volatility
GIGB.L vs. DFNS.L - Volatility Comparison
VanEck S&P Global Mining UCITS ETF (GIGB.L) has a higher volatility of 10.51% compared to VanEck Defense UCITS ETF (DFNS.L) at 8.71%. This indicates that GIGB.L's price experiences larger fluctuations and is considered to be riskier 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
| GIGB.L | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.51% | 8.71% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 28.35% | 18.95% | +9.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.84% | 25.34% | +8.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.68% | 21.24% | +8.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.36% | 21.24% | +8.12% |
GIGB.L vs. DFNS.L - Expense Ratio Comparison
GIGB.L has a 0.50% expense ratio, which is lower than DFNS.L's 0.55% expense ratio.
Dividends
GIGB.L vs. DFNS.L - Dividend Comparison
Neither GIGB.L nor DFNS.L has paid dividends to shareholders.
Frequently Asked Questions
GIGB.L and DFNS.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GIGB.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GIGB.L is cheaper with a 0.50% expense ratio, compared with 0.55% for DFNS.L.
GIGB.L is categorized as Global Equities, while DFNS.L is Aerospace & Defense. GIGB.L tracks VanEck S&P Global Mining UCITS ETF, while DFNS.L tracks MarketVector™ Global Defense Industry Index. Their fees differ too: 0.50% for GIGB.L and 0.55% for DFNS.L.
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