IDFN.L vs. FWRA.L
IDFN.L (Invesco Defence Innovation UCITS ETF Acc) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both exchange-traded funds - IDFN.L is a Aerospace & Defense fund tracking the S&P Kensho Global Future Defense Index, while FWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past year, IDFN.L returned 75.98% vs 29.69% for FWRA.L. A 0.66 correlation means they provide meaningful diversification when combined. IDFN.L charges 0.35%/yr vs 0.15%/yr for FWRA.L.
Performance
IDFN.L vs. FWRA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IDFN.L achieves a 34.54% return, which is significantly higher than FWRA.L's 11.73% return.
IDFN.L
- 1D
- -1.85%
- 1M
- 12.42%
- YTD
- 34.54%
- 6M
- 43.45%
- 1Y
- 75.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FWRA.L
- 1D
- -0.65%
- 1M
- 4.86%
- YTD
- 11.73%
- 6M
- 13.36%
- 1Y
- 29.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IDFN.L vs. FWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IDFN.L Invesco Defence Innovation UCITS ETF Acc | 34.54% | 55.93% | 6.12% |
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 11.73% | 22.37% | 0.10% |
Correlation
The correlation between IDFN.L and FWRA.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024 | 0.66 |
The correlation between IDFN.L and FWRA.L has been stable across timeframes, ranging from 0.64 to 0.66 - a consistent structural relationship.
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Return for Risk
IDFN.L vs. FWRA.L — Risk / Return Rank
IDFN.L
FWRA.L
IDFN.L vs. FWRA.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 Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.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 | FWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.44 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 3.37 | +2.28 |
| Martin ratioReturn relative to average drawdown | 16.53 | 14.12 | +2.41 |
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 | FWRA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.92 | 2.39 | +0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.43 | 1.57 | +0.87 |
Drawdowns
IDFN.L vs. FWRA.L - Drawdown Comparison
The maximum IDFN.L drawdown since its inception was -13.71%, smaller than the maximum FWRA.L drawdown of -16.60%. Use the drawdown chart below to compare losses from any high point for IDFN.L and FWRA.L.
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Drawdown Indicators
| IDFN.L | FWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.71% | -16.60% | +2.89% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -8.74% | -4.65% |
Current DrawdownCurrent decline from peak | -5.01% | -0.65% | -4.36% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -1.93% | -1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 2.09% | +2.49% |
Volatility
IDFN.L vs. FWRA.L - Volatility Comparison
Invesco Defence Innovation UCITS ETF Acc (IDFN.L) has a higher volatility of 10.26% compared to Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) at 3.79%. This indicates that IDFN.L's price experiences larger fluctuations and is considered to be riskier than FWRA.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 | FWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.26% | 3.79% | +6.47% |
Volatility (6M)Calculated over the trailing 6-month period | 21.07% | 9.86% | +11.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.94% | 12.33% | +13.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.89% | 13.53% | +13.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.89% | 13.53% | +13.36% |
IDFN.L vs. FWRA.L - Expense Ratio Comparison
IDFN.L has a 0.35% expense ratio, which is higher than FWRA.L's 0.15% expense ratio.
Dividends
IDFN.L vs. FWRA.L - Dividend Comparison
Neither IDFN.L nor FWRA.L has paid dividends to shareholders.
Frequently Asked Questions
IDFN.L and FWRA.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FWRA.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FWRA.L is cheaper with a 0.15% expense ratio, compared with 0.35% for IDFN.L.
IDFN.L is categorized as Aerospace & Defense, while FWRA.L is Global Equities. IDFN.L tracks S&P Kensho Global Future Defense Index, while FWRA.L tracks FTSE All-World Index. Their fees differ too: 0.35% for IDFN.L and 0.15% for FWRA.L.
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