INAA.AS vs. DFND.AS
INAA.AS (iShares MSCI North America UCITS ETF) and DFND.AS (iShares Global Aerospace & Defence UCITS ETF) are both exchange-traded funds - INAA.AS is a Large Cap Blend Equities fund tracking the Russell 1000 TR 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 0.25 correlation, their price movements are largely independent. INAA.AS charges 0.40%/yr vs 0.35%/yr for DFND.AS.
Performance
INAA.AS vs. DFND.AS - Performance Comparison
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Different Trading Currencies
INAA.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
INAA.AS
- 1D
- -0.06%
- 1M
- 5.16%
- YTD
- 11.24%
- 6M
- 11.07%
- 1Y
- 24.92%
- 3Y*
- 18.57%
- 5Y*
- 13.87%
- 10Y*
- 14.24%
DFND.AS
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INAA.AS vs. DFND.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
INAA.AS iShares MSCI North America UCITS ETF | 11.24% | 4.00% | 22.65% |
DFND.AS iShares Global Aerospace & Defence UCITS ETF | 0.00% | 0.00% | 19.34% |
Correlation
The correlation between INAA.AS and DFND.AS is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 19, 2024 | 0.25 |
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Return for Risk
INAA.AS vs. DFND.AS — Risk / Return Rank
INAA.AS
DFND.AS
INAA.AS vs. DFND.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI North America UCITS ETF (INAA.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.
| INAA.AS | DFND.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.41 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | — | — |
| Martin ratioReturn relative to average drawdown | 12.06 | — | — |
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
| INAA.AS | DFND.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | — | — |
Drawdowns
INAA.AS vs. DFND.AS - Drawdown Comparison
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Drawdown Indicators
| INAA.AS | DFND.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.35% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -23.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.43% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.42% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | — | — |
Average DrawdownAverage peak-to-trough decline | -8.31% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | — | — |
Volatility
INAA.AS vs. DFND.AS - Volatility Comparison
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Volatility by Period
| INAA.AS | DFND.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.44% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.30% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.31% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | — | — |
INAA.AS vs. DFND.AS - Expense Ratio Comparison
INAA.AS has a 0.40% expense ratio, which is higher than DFND.AS's 0.35% expense ratio.
Dividends
INAA.AS vs. DFND.AS - Dividend Comparison
INAA.AS's dividend yield for the trailing twelve months is around 0.52%, while DFND.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 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% | 0.00% |
INAA.AS iShares MSCI North America UCITS ETF | 0.52% | 0.59% | 0.69% | 0.92% | 1.08% | 0.62% | 0.94% | 1.10% | 1.21% | 1.18% | 1.25% | 1.39% |
Frequently Asked Questions
INAA.AS and DFND.AS have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
DFND.AS is cheaper with a 0.35% expense ratio, compared with 0.40% for INAA.AS.
INAA.AS is categorized as Large Cap Blend Equities, while DFND.AS is Industrials Equities. INAA.AS tracks Russell 1000 TR USD, while DFND.AS tracks S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. Their fees differ too: 0.40% for INAA.AS and 0.35% for DFND.AS.
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