IUHC.L vs. DFNS.L
IUHC.L (iShares S&P 500 Health Care Sector UCITS ETF USD (Acc)) and DFNS.L (VanEck Defense UCITS ETF) are both exchange-traded funds - IUHC.L is a Health & Biotech Equities fund tracking the S&P 500 Capped 35/20 Health Care Index, while DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past 3 years, IUHC.L returned 6.86%/yr vs 40.45%/yr for DFNS.L. At a 0.25 correlation, their price movements are largely independent. IUHC.L charges 0.15%/yr vs 0.55%/yr for DFNS.L.
Performance
IUHC.L vs. DFNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IUHC.L achieves a -0.88% return, which is significantly lower than DFNS.L's 0.90% return.
IUHC.L
- 1D
- -0.08%
- 1M
- 5.46%
- YTD
- -0.88%
- 6M
- 0.57%
- 1Y
- 14.44%
- 3Y*
- 6.86%
- 5Y*
- 5.75%
- 10Y*
- 9.60%
DFNS.L
- 1D
- 0.00%
- 1M
- -0.02%
- YTD
- 0.90%
- 6M
- 2.54%
- 1Y
- 12.91%
- 3Y*
- 40.45%
- 5Y*
- —
- 10Y*
- —
IUHC.L vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IUHC.L iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) | -0.88% | 14.72% | 2.16% | 8.13% |
DFNS.L VanEck Defense UCITS ETF | 0.90% | 68.21% | 43.74% | 25.97% |
Correlation
The correlation between IUHC.L and DFNS.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.25 |
The correlation between IUHC.L and DFNS.L shifts across timeframes, from 0.13 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IUHC.L vs. DFNS.L — Risk / Return Rank
IUHC.L
DFNS.L
IUHC.L vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IUHC.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.
| IUHC.L | DFNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.10 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 0.66 | +0.73 |
| Martin ratioReturn relative to average drawdown | 3.41 | 1.61 | +1.80 |
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Drawdowns
IUHC.L vs. DFNS.L - Drawdown Comparison
The maximum IUHC.L drawdown since its inception was -27.44%, 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 IUHC.L and DFNS.L.
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Drawdown Indicators
| IUHC.L | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.44% | -19.66% | -7.78% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -19.66% | +9.26% |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | -19.66% | +2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.44% | — | — |
Current DrawdownCurrent decline from peak | -3.36% | -17.48% | +14.12% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -3.49% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | 8.00% | -3.80% |
Volatility
IUHC.L vs. DFNS.L - Volatility Comparison
The current volatility for iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IUHC.L) is 4.95%, while VanEck Defense UCITS ETF (DFNS.L) has a volatility of 8.29%. This indicates that IUHC.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.
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Volatility by Period
| IUHC.L | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 8.29% | -3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | 19.56% | -8.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.05% | 25.07% | -10.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.80% | 21.58% | -6.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.74% | 21.58% | -5.84% |
IUHC.L vs. DFNS.L - Expense Ratio Comparison
IUHC.L has a 0.15% expense ratio, which is lower than DFNS.L's 0.55% expense ratio.
Dividends
IUHC.L vs. DFNS.L - Dividend Comparison
Neither IUHC.L nor DFNS.L has paid dividends to shareholders.
Frequently Asked Questions
IUHC.L and DFNS.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUHC.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUHC.L is cheaper with a 0.15% expense ratio, compared with 0.55% for DFNS.L.
IUHC.L is categorized as Health & Biotech Equities, while DFNS.L is Aerospace & Defense. IUHC.L tracks S&P 500 Capped 35/20 Health Care Index, while DFNS.L tracks MarketVector™ Global Defense Industry Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.15% for IUHC.L and 0.55% for DFNS.L.
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