IS15.L vs. DFNG.L
IS15.L (iShares GBP Corporate Bond 0-5yr UCITS ETF) and DFNG.L (VanEck Defense UCITS ETF) are both exchange-traded funds - IS15.L is a European Corporate Bonds fund tracking the Markit iBoxx GBP NonGilts 1-5 TR, while DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index. Both are passively managed. Over the past 3 years, IS15.L returned 6.31%/yr vs 34.05%/yr for DFNG.L. At a 0.10 correlation, their price movements are largely independent. IS15.L charges 0.20%/yr vs 0.55%/yr for DFNG.L.
Performance
IS15.L vs. DFNG.L - Performance Comparison
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Returns By Period
In the year-to-date period, IS15.L achieves a 1.00% return, which is significantly higher than DFNG.L's -5.39% return.
IS15.L
- 1D
- -0.05%
- 1M
- -0.08%
- 6M
- 0.70%
- YTD
- 1.00%
- 1Y
- 3.87%
- 3Y*
- 6.31%
- 5Y*
- 2.40%
- 10Y*
- 2.24%
DFNG.L
- 1D
- 0.00%
- 1M
- -5.59%
- 6M
- -20.55%
- YTD
- -5.39%
- 1Y
- 1.83%
- 3Y*
- 34.05%
- 5Y*
- —
- 10Y*
- —
IS15.L vs. DFNG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IS15.L iShares GBP Corporate Bond 0-5yr UCITS ETF | 1.00% | 6.24% | 4.89% | 6.01% |
DFNG.L VanEck Defense UCITS ETF | -5.39% | 56.54% | 46.20% | -1.18% |
Correlation
The correlation between IS15.L and DFNG.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.10 |
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Return for Risk
IS15.L vs. DFNG.L — Risk / Return Rank
IS15.L
DFNG.L
IS15.L vs. DFNG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GBP Corporate Bond 0-5yr UCITS ETF (IS15.L) and VanEck Defense UCITS ETF (DFNG.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IS15.L | DFNG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.03 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 0.08 | +1.91 |
| Martin ratioReturn relative to average drawdown | 7.57 | 0.18 | +7.39 |
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Drawdowns
IS15.L vs. DFNG.L - Drawdown Comparison
The maximum IS15.L drawdown since its inception was -12.18%, smaller than the maximum DFNG.L drawdown of -24.31%. Use the drawdown chart below to compare losses from any high point for IS15.L and DFNG.L.
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Drawdown Indicators
| IS15.L | DFNG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.18% | -24.31% | +12.13% |
Max Drawdown (1Y)Largest decline over 1 year | -1.94% | -24.31% | +22.37% |
Max Drawdown (3Y)Largest decline over 3 years | -1.94% | -24.31% | +22.37% |
Max Drawdown (5Y)Largest decline over 5 years | -12.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.18% | — | — |
Current DrawdownCurrent decline from peak | -0.44% | -22.71% | +22.27% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -5.39% | +4.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 10.00% | -9.49% |
Volatility
IS15.L vs. DFNG.L - Volatility Comparison
The current volatility for iShares GBP Corporate Bond 0-5yr UCITS ETF (IS15.L) is 0.80%, while VanEck Defense UCITS ETF (DFNG.L) has a volatility of 9.66%. This indicates that IS15.L experiences smaller price fluctuations and is considered to be less risky than DFNG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS15.L | DFNG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 9.66% | -8.86% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 19.49% | -17.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.68% | 25.74% | -23.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.32% | 23.67% | -20.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 23.67% | -20.54% |
IS15.L vs. DFNG.L - Expense Ratio Comparison
IS15.L has a 0.20% expense ratio, which is lower than DFNG.L's 0.55% expense ratio.
Dividends
IS15.L vs. DFNG.L - Dividend Comparison
IS15.L's dividend yield for the trailing twelve months is around 4.52%, while DFNG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFNG.L VanEck Defense 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% |
IS15.L iShares GBP Corporate Bond 0-5yr UCITS ETF | 4.52% | 4.35% | 4.06% | 3.05% | 1.80% | 1.72% | 1.81% | 2.03% | 2.08% | 2.15% | 2.55% | 2.91% |
Frequently Asked Questions
IS15.L and DFNG.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS15.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS15.L is cheaper with a 0.20% expense ratio, compared with 0.55% for DFNG.L.
IS15.L is categorized as European Corporate Bonds, while DFNG.L is Aerospace & Defense. IS15.L tracks Markit iBoxx GBP NonGilts 1-5 TR, while DFNG.L tracks MarketVector Global Defense Industry index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.20% for IS15.L and 0.55% for DFNG.L.
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