IDFN.L vs. DFNS.L
IDFN.L (Invesco Defence Innovation UCITS ETF Acc) and DFNS.L (VanEck Defense UCITS ETF) are both Aerospace & Defense funds - IDFN.L tracks the S&P Kensho Global Future Defense Index while DFNS.L tracks the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past year, IDFN.L returned 81.92% vs 19.28% for DFNS.L. A 0.78 correlation means they provide meaningful diversification when combined. IDFN.L charges 0.35%/yr vs 0.55%/yr for DFNS.L.
Performance
IDFN.L vs. DFNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IDFN.L achieves a 37.08% return, which is significantly higher than DFNS.L's 4.76% return.
IDFN.L
- 1D
- 0.90%
- 1M
- 14.54%
- YTD
- 37.08%
- 6M
- 47.19%
- 1Y
- 81.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFNS.L
- 1D
- -2.00%
- 1M
- -3.37%
- YTD
- 4.76%
- 6M
- 11.80%
- 1Y
- 19.28%
- 3Y*
- 43.81%
- 5Y*
- —
- 10Y*
- —
IDFN.L vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IDFN.L Invesco Defence Innovation UCITS ETF Acc | 37.08% | 55.93% | 6.12% |
DFNS.L VanEck Defense UCITS ETF | 4.76% | 68.21% | -2.34% |
Correlation
The correlation between IDFN.L and DFNS.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024 | 0.78 |
The correlation between IDFN.L and DFNS.L has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.
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Return for Risk
IDFN.L vs. DFNS.L — Risk / Return Rank
IDFN.L
DFNS.L
IDFN.L vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Defence Innovation UCITS ETF Acc (IDFN.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.
| IDFN.L | DFNS.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.15 | 0.77 | +2.38 |
Sortino ratioReturn per unit of downside risk | 4.02 | 1.25 | +2.78 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.14 | +0.34 |
Calmar ratioReturn relative to maximum drawdown | 5.92 | 0.94 | +4.98 |
Martin ratioReturn relative to average drawdown | 17.35 | 2.38 | +14.98 |
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
| IDFN.L | DFNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.15 | 0.77 | +2.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.52 | 2.05 | +0.47 |
Drawdowns
IDFN.L vs. DFNS.L - Drawdown Comparison
The maximum IDFN.L drawdown since its inception was -13.71%, smaller than the maximum DFNS.L drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for IDFN.L and DFNS.L.
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Drawdown Indicators
| IDFN.L | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.71% | -18.72% | +5.01% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -18.72% | +5.33% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.72% | — |
Current DrawdownCurrent decline from peak | -3.22% | -14.32% | +11.10% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -3.37% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.57% | 7.44% | -2.87% |
Volatility
IDFN.L vs. DFNS.L - Volatility Comparison
Invesco Defence Innovation UCITS ETF Acc (IDFN.L) has a higher volatility of 9.94% compared to VanEck Defense UCITS ETF (DFNS.L) at 7.90%. This indicates that IDFN.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
| IDFN.L | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.94% | 7.90% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 20.97% | 19.53% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.86% | 24.82% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.87% | 21.55% | +5.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.87% | 21.55% | +5.32% |
IDFN.L vs. DFNS.L - Expense Ratio Comparison
IDFN.L has a 0.35% expense ratio, which is lower than DFNS.L's 0.55% expense ratio.
Dividends
IDFN.L vs. DFNS.L - Dividend Comparison
Neither IDFN.L nor DFNS.L has paid dividends to shareholders.
Frequently Asked Questions
IDFN.L and DFNS.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IDFN.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IDFN.L is cheaper with a 0.35% expense ratio, compared with 0.55% for DFNS.L.
IDFN.L tracks S&P Kensho Global Future Defense Index, while DFNS.L tracks MarketVector™ Global Defense Industry Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.35% for IDFN.L and 0.55% for DFNS.L.
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