GJGB.L vs. DFNG.L
GJGB.L (VanEck Junior Gold Miners UCITS ETF) and DFNG.L (VanEck Defense ETF A USD Acc GBP) are both exchange-traded funds - GJGB.L is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index. Both are passively managed. Over the past 3 years, GJGB.L returned 42.48%/yr vs 39.23%/yr for DFNG.L. At a 0.19 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
GJGB.L vs. DFNG.L - Performance Comparison
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Returns By Period
In the year-to-date period, GJGB.L achieves a -1.48% return, which is significantly lower than DFNG.L's 3.59% return.
GJGB.L
- 1D
- 0.69%
- 1M
- -7.95%
- YTD
- -1.48%
- 6M
- 6.02%
- 1Y
- 64.29%
- 3Y*
- 42.48%
- 5Y*
- 18.91%
- 10Y*
- —
DFNG.L
- 1D
- 0.47%
- 1M
- -2.66%
- YTD
- 3.59%
- 6M
- 7.13%
- 1Y
- 15.22%
- 3Y*
- 39.23%
- 5Y*
- —
- 10Y*
- —
GJGB.L vs. DFNG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GJGB.L VanEck Junior Gold Miners UCITS ETF | -1.48% | 156.51% | 14.83% | -7.82% |
DFNG.L VanEck Defense ETF A USD Acc GBP | 3.59% | 56.54% | 46.20% | 22.89% |
Correlation
The correlation between GJGB.L and DFNG.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2023 | 0.19 |
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Return for Risk
GJGB.L vs. DFNG.L — Risk / Return Rank
GJGB.L
DFNG.L
GJGB.L vs. DFNG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners UCITS ETF (GJGB.L) and VanEck Defense ETF A USD Acc GBP (DFNG.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.
| GJGB.L | DFNG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.14 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 0.92 | +1.26 |
| Martin ratioReturn relative to average drawdown | 5.30 | 2.28 | +3.02 |
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
| GJGB.L | DFNG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 0.70 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 1.97 | -1.58 |
Drawdowns
GJGB.L vs. DFNG.L - Drawdown Comparison
The maximum GJGB.L drawdown since its inception was -49.12%, which is greater than DFNG.L's maximum drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for GJGB.L and DFNG.L.
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Drawdown Indicators
| GJGB.L | DFNG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.12% | -18.38% | -30.74% |
Max Drawdown (1Y)Largest decline over 1 year | -29.95% | -18.38% | -11.57% |
Max Drawdown (3Y)Largest decline over 3 years | -29.95% | -18.38% | -11.57% |
Max Drawdown (5Y)Largest decline over 5 years | -36.65% | — | — |
Current DrawdownCurrent decline from peak | -27.14% | -15.37% | -11.77% |
Average DrawdownAverage peak-to-trough decline | -22.35% | -3.13% | -19.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.37% | 7.46% | +4.91% |
Volatility
GJGB.L vs. DFNG.L - Volatility Comparison
VanEck Junior Gold Miners UCITS ETF (GJGB.L) has a higher volatility of 16.00% compared to VanEck Defense ETF A USD Acc GBP (DFNG.L) at 7.88%. This indicates that GJGB.L's price experiences larger fluctuations and is considered to be riskier than DFNG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GJGB.L | DFNG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.00% | 7.88% | +8.12% |
Volatility (6M)Calculated over the trailing 6-month period | 36.81% | 18.71% | +18.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.62% | 24.17% | +21.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.94% | 20.38% | +16.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.80% | 20.38% | +16.42% |
GJGB.L vs. DFNG.L - Expense Ratio Comparison
Both GJGB.L and DFNG.L have an expense ratio of 0.55%.
Dividends
GJGB.L vs. DFNG.L - Dividend Comparison
Neither GJGB.L nor DFNG.L has paid dividends to shareholders.
Frequently Asked Questions
GJGB.L and DFNG.L have a correlation of 0.26, 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.
GJGB.L and DFNG.L have the same expense ratio: 0.55% per year.
GJGB.L is categorized as Gold, while DFNG.L is Aerospace & Defense. GJGB.L tracks MVIS Global Junior Gold Miners Index, while DFNG.L tracks MarketVector Global Defense Industry index.
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