ISX5.L vs. DFNS.L
ISX5.L (iShares Core EURO STOXX 50 UCITS ETF) and DFNS.L (VanEck Defense UCITS ETF) are both exchange-traded funds - ISX5.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past 3 years, ISX5.L returned 18.31%/yr vs 40.45%/yr for DFNS.L. At a 0.48 correlation, their price movements are largely independent. ISX5.L charges 0.00%/yr vs 0.55%/yr for DFNS.L.
Performance
ISX5.L vs. DFNS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ISX5.L achieves a 7.24% return, which is significantly higher than DFNS.L's 0.90% return.
ISX5.L
- 1D
- 2.46%
- 1M
- 3.59%
- YTD
- 7.24%
- 6M
- 8.56%
- 1Y
- 19.84%
- 3Y*
- 18.31%
- 5Y*
- 10.63%
- 10Y*
- 13.05%
DFNS.L
- 1D
- 0.00%
- 1M
- -1.09%
- YTD
- 0.90%
- 6M
- 2.54%
- 1Y
- 10.82%
- 3Y*
- 40.45%
- 5Y*
- —
- 10Y*
- —
ISX5.L vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ISX5.L iShares Core EURO STOXX 50 UCITS ETF | 7.24% | 37.35% | 4.59% | 10.16% |
DFNS.L VanEck Defense UCITS ETF | 0.90% | 68.21% | 43.74% | 25.97% |
Correlation
The correlation between ISX5.L and DFNS.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.48 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ISX5.L vs. DFNS.L — Risk / Return Rank
ISX5.L
DFNS.L
ISX5.L vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core EURO STOXX 50 UCITS ETF (ISX5.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.
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.
| ISX5.L | DFNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.10 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 0.66 | +0.74 |
| Martin ratioReturn relative to average drawdown | 4.69 | 1.61 | +3.07 |
Loading charts...
Drawdowns
ISX5.L vs. DFNS.L - Drawdown Comparison
The maximum ISX5.L drawdown since its inception was -38.62%, which is greater than DFNS.L's maximum drawdown of -19.66%. Use the drawdown chart below to compare losses from any high point for ISX5.L and DFNS.L.
Loading charts...
Drawdown Indicators
| ISX5.L | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -19.66% | -18.96% |
Max Drawdown (1Y)Largest decline over 1 year | -12.92% | -19.66% | +6.74% |
Max Drawdown (3Y)Largest decline over 3 years | -15.36% | -19.66% | +4.30% |
Max Drawdown (5Y)Largest decline over 5 years | -34.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -17.48% | +17.29% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -3.49% | -4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 8.00% | -4.15% |
Volatility
ISX5.L vs. DFNS.L - Volatility Comparison
The current volatility for iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) is 5.29%, while VanEck Defense UCITS ETF (DFNS.L) has a volatility of 8.29%. This indicates that ISX5.L experiences smaller price fluctuations and is considered to be less risky than DFNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ISX5.L | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 8.29% | -3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 15.25% | 19.56% | -4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.30% | 25.07% | -6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.91% | 21.58% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.97% | 21.58% | +0.39% |
ISX5.L vs. DFNS.L - Expense Ratio Comparison
ISX5.L has a 0.00% expense ratio, which is lower than DFNS.L's 0.55% expense ratio.
Dividends
ISX5.L vs. DFNS.L - Dividend Comparison
Neither ISX5.L nor DFNS.L has paid dividends to shareholders.
Frequently Asked Questions
ISX5.L and DFNS.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISX5.L is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISX5.L is cheaper with a 0.00% expense ratio, compared with 0.55% for DFNS.L.
ISX5.L is categorized as Europe Equities, while DFNS.L is Aerospace & Defense. ISX5.L tracks MSCI EMU NR EUR, while DFNS.L tracks MarketVector™ Global Defense Industry Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.00% for ISX5.L and 0.55% for DFNS.L.
Find the right allocation for ISX5.L and DFNS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer