HEI vs. DFEN.DE

Last updated Jun 13, 2026

HEI (HEICO Corporation) is a stock, while DFEN.DE (VanEck Defense UCITS ETF A) is Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Over the past 3 years, HEI returned 26.36%/yr vs 40.64%/yr for DFEN.DE. At a 0.36 correlation, their price movements are largely independent.

Performance

HEI vs. DFEN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HEICO Corporation (HEI) and VanEck Defense UCITS ETF A (DFEN.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HEI is traded in USD, while DFEN.DE is traded in EUR. To make them comparable, the DFEN.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HEI achieves a 2.52% return, which is significantly higher than DFEN.DE's 1.46% return.

HEI

• 1D: -2.24%
• 1M: 13.64%
• YTD: 2.52%
• 6M: 6.84%
• 1Y: 9.12%
• 3Y*: 26.36%
• 5Y*: 18.39%
• 10Y*: 25.98%

DFEN.DE

• 1D: 0.49%
• 1M: 1.00%
• YTD: 1.46%
• 6M: 2.92%
• 1Y: 13.94%
• 3Y*: 40.64%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HEI vs. DFEN.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HEI HEICO Corporation	2.52%	36.22%	33.05%	6.02%
DFEN.DE VanEck Defense UCITS ETF A	1.46%	70.20%	43.28%	24.17%

Correlation

The correlation between HEI and DFEN.DE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023	0.36

Return for Risk

HEI vs. DFEN.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HEI

HEI Risk / Return Rank: 50
HEI Sharpe Ratio Rank: 53
HEI Sortino Ratio Rank: 48
HEI Omega Ratio Rank: 48
HEI Calmar Ratio Rank: 51
HEI Martin Ratio Rank: 52

DFEN.DE

DFEN.DE Risk / Return Rank: 19
DFEN.DE Sharpe Ratio Rank: 19
DFEN.DE Sortino Ratio Rank: 20
DFEN.DE Omega Ratio Rank: 19
DFEN.DE Calmar Ratio Rank: 20
DFEN.DE Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HEI vs. DFEN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HEICO Corporation (HEI) 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.

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.

	HEI	DFEN.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.27	0.55	-0.27
Sortino ratio: Return per unit of downside risk	0.65	0.95	-0.31
Omega ratio: Gain probability vs. loss probability	1.08	1.11	-0.03
Calmar ratio: Return relative to maximum drawdown	0.34	0.71	-0.37
Martin ratio: Return relative to average drawdown	0.82	1.73	-0.92

HEI vs. DFEN.DE - Sharpe Ratio Comparison

The current HEI Sharpe Ratio is 0.27, which is lower than the DFEN.DE Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of HEI and DFEN.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HEI vs. DFEN.DE - Drawdown Comparison

The maximum HEI drawdown since its inception was -75.50%, which is greater than DFEN.DE's maximum drawdown of -19.59%. Use the drawdown chart below to compare losses from any high point for HEI and DFEN.DE.

Drawdown Indicators

	HEI	DFEN.DE	Difference
Max Drawdown Largest peak-to-trough decline	-75.50%	-19.59%	-55.91%
Max Drawdown (1Y) Largest decline over 1 year	-27.11%	-19.59%	-7.52%
Max Drawdown (3Y) Largest decline over 3 years	-27.11%	-19.59%	-7.52%
Max Drawdown (5Y) Largest decline over 5 years	-27.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.73%	—	—
Current Drawdown Current decline from peak	-7.38%	-16.58%	+9.20%
Average Drawdown Average peak-to-trough decline	-19.95%	-3.51%	-16.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.18%	8.02%	+3.16%

Volatility

HEI vs. DFEN.DE - Volatility Comparison

HEICO Corporation (HEI) has a higher volatility of 14.84% compared to VanEck Defense UCITS ETF A (DFEN.DE) at 7.93%. This indicates that HEI's price experiences larger fluctuations and is considered to be riskier than DFEN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEI	DFEN.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.84%	7.93%	+6.91%
Volatility (6M) Calculated over the trailing 6-month period	27.73%	19.89%	+7.84%
Volatility (1Y) Calculated over the trailing 1-year period	33.32%	25.41%	+7.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.71%	21.76%	+5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.65%	21.76%	+8.89%

Dividends

HEI vs. DFEN.DE - Dividend Comparison

HEI's dividend yield for the trailing twelve months is around 0.07%, while DFEN.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEN.DE VanEck Defense UCITS ETF A	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HEI HEICO Corporation	0.07%	0.07%	0.09%	0.11%	0.12%	0.12%	0.12%	0.12%	0.14%	0.08%	0.22%	0.28%

Frequently Asked Questions

Can I hold both HEI and DFEN.DE in my portfolio?

HEI and DFEN.DE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.