IEZ vs. IDEF

Last updated Apr 1, 2026

Compare and contrast key facts about iShares U.S. Oil Equipment & Services ETF (IEZ) and iShares Defense Industrials Active ETF (IDEF).

IEZ and IDEF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEZ is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Oil Equipment & Services Index. It was launched on May 5, 2006. IDEF is an actively managed fund by iShares. It was launched on May 19, 2025.

Performance

IEZ vs. IDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Oil Equipment & Services ETF (IEZ) and iShares Defense Industrials Active ETF (IDEF). The values are adjusted to include any dividend payments, if applicable.

IEZ vs. IDEF - Yearly Performance Comparison

	2026 (YTD)	2025
IEZ iShares U.S. Oil Equipment & Services ETF	39.05%	30.69%
IDEF iShares Defense Industrials Active ETF	6.20%	23.05%

Returns By Period

In the year-to-date period, IEZ achieves a 39.05% return, which is significantly higher than IDEF's 6.20% return.

IEZ

• 1D: 0.63%
• 1M: 0.17%
• YTD: 39.05%
• 6M: 51.03%
• 1Y: 51.15%
• 3Y*: 16.17%
• 5Y*: 17.40%
• 10Y*: -0.06%

IDEF

• 1D: 4.15%
• 1M: -8.78%
• YTD: 6.20%
• 6M: 3.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IEZ vs. IDEF - Expense Ratio Comparison

IEZ has a 0.42% expense ratio, which is lower than IDEF's 0.55% expense ratio.

IDEF

iShares Defense Industrials Active ETF

IEZ

iShares U.S. Oil Equipment & Services ETF

Return for Risk

IEZ vs. IDEF — Risk / Return Rank

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

IEZ

IEZ Risk / Return Rank: 72
IEZ Sharpe Ratio Rank: 77
IEZ Sortino Ratio Rank: 76
IEZ Omega Ratio Rank: 74
IEZ Calmar Ratio Rank: 78
IEZ Martin Ratio Rank: 58

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.

IEZ vs. IDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil Equipment & Services ETF (IEZ) and iShares Defense Industrials Active ETF (IDEF). 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.

	IEZ	IDEF	Difference
Sharpe ratio Return per unit of total volatility	1.39	—	—
Sortino ratio Return per unit of downside risk	1.88	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	2.04	—	—
Martin ratio Return relative to average drawdown	5.55	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IEZ	IDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	1.85	-1.89

Correlation

The correlation between IEZ and IDEF is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IEZ vs. IDEF - Dividend Comparison

IEZ's dividend yield for the trailing twelve months is around 1.25%, more than IDEF's 0.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEZ iShares U.S. Oil Equipment & Services ETF	1.25%	1.87%	1.76%	0.97%	0.65%	1.20%	2.07%	2.28%	1.81%	3.42%	0.91%	2.40%
IDEF iShares Defense Industrials Active ETF	0.16%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

IEZ vs. IDEF - Drawdown Comparison

The maximum IEZ drawdown since its inception was -92.52%, which is greater than IDEF's maximum drawdown of -14.63%. Use the drawdown chart below to compare losses from any high point for IEZ and IDEF.

Drawdown Indicators

	IEZ	IDEF	Difference
Max Drawdown Largest peak-to-trough decline	-92.52%	-14.63%	-77.89%
Max Drawdown (1Y) Largest decline over 1 year	-25.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-88.29%	—	—
Current Drawdown Current decline from peak	-54.11%	-11.08%	-43.03%
Average Drawdown Average peak-to-trough decline	-48.23%	-2.88%	-45.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	—	—

Volatility

Volatility by Period

	IEZ	IDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	36.94%	20.00%	+16.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.04%	20.00%	+17.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.67%	20.00%	+21.67%