IAPD.AS vs. DFND.AS

Last updated Jun 5, 2026

IAPD.AS (iShares Asia Pacific Dividend UCITS ETF) and DFND.AS (iShares Global Aerospace & Defence UCITS ETF) are both exchange-traded funds - IAPD.AS is a Asia Pacific Equities fund tracking the MSCI AC Asia Pacific NR USD, while DFND.AS is a Industrials Equities fund tracking the S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. Both are passively managed. At a 0.17 correlation, their price movements are largely independent. IAPD.AS charges 0.59%/yr vs 0.35%/yr for DFND.AS.

Performance

IAPD.AS vs. DFND.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Asia Pacific Dividend UCITS ETF (IAPD.AS) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IAPD.AS is traded in EUR, while DFND.AS is traded in USD. To make them comparable, the DFND.AS values have been converted to EUR using the latest available exchange rates.

Returns By Period

IAPD.AS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFND.AS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAPD.AS vs. DFND.AS - Yearly Performance Comparison

	2025	2024
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	12.38%	9.13%
DFND.AS iShares Global Aerospace & Defence UCITS ETF	0.00%	19.34%

Correlation

The correlation between IAPD.AS and DFND.AS is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Feb 19, 2024	0.17

Return for Risk

IAPD.AS vs. DFND.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Asia Pacific Dividend UCITS ETF (IAPD.AS) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Volatility

IAPD.AS vs. DFND.AS - Expense Ratio Comparison

IAPD.AS has a 0.59% expense ratio, which is higher than DFND.AS's 0.35% expense ratio.

Dividends

IAPD.AS vs. DFND.AS - Dividend Comparison

IAPD.AS's dividend yield for the trailing twelve months is around 4.85%, while DFND.AS has not paid dividends to shareholders.

Position	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFND.AS iShares Global Aerospace & Defence UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	4.85%	5.58%	6.33%	7.38%	6.33%	4.28%	6.18%	6.90%	5.48%	4.80%	5.95%

Frequently Asked Questions

Can I hold both IAPD.AS and DFND.AS in my portfolio?

IAPD.AS and DFND.AS have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IAPD.AS or DFND.AS?

On fees, DFND.AS is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IAPD.AS or DFND.AS?

DFND.AS is cheaper with a 0.35% expense ratio, compared with 0.59% for IAPD.AS.

What is the main difference between IAPD.AS and DFND.AS?

IAPD.AS is categorized as Asia Pacific Equities, while DFND.AS is Industrials Equities. IAPD.AS tracks MSCI AC Asia Pacific NR USD, while DFND.AS tracks S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. Their fees differ too: 0.59% for IAPD.AS and 0.35% for DFND.AS.