IUSQ.DE vs. DFNS.L
IUSQ.DE (iShares MSCI ACWI UCITS ETF (Acc)) and DFNS.L (VanEck Defense UCITS ETF) are both exchange-traded funds - IUSQ.DE is a Global Equities fund tracking the MSCI All Country World (ACWI), while DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past 3 years, IUSQ.DE returned 17.12%/yr vs 37.18%/yr for DFNS.L. A 0.51 correlation means they provide meaningful diversification when combined. IUSQ.DE charges 0.20%/yr vs 0.55%/yr for DFNS.L.
Performance
IUSQ.DE vs. DFNS.L - Performance Comparison
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Different Trading Currencies
IUSQ.DE is traded in EUR, while DFNS.L is traded in USD. To make them comparable, the DFNS.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUSQ.DE achieves a 11.73% return, which is significantly higher than DFNS.L's 2.37% return.
IUSQ.DE
- 1D
- 1.86%
- 1M
- 2.20%
- YTD
- 11.73%
- 6M
- 13.44%
- 1Y
- 25.86%
- 3Y*
- 17.12%
- 5Y*
- 12.02%
- 10Y*
- 12.55%
DFNS.L
- 1D
- 0.00%
- 1M
- 1.17%
- YTD
- 2.37%
- 6M
- 3.98%
- 1Y
- 13.01%
- 3Y*
- 37.18%
- 5Y*
- —
- 10Y*
- —
IUSQ.DE vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IUSQ.DE iShares MSCI ACWI UCITS ETF (Acc) | 11.73% | 9.02% | 24.53% | 13.77% |
DFNS.L VanEck Defense UCITS ETF | 2.37% | 48.25% | 53.23% | 23.77% |
Correlation
The correlation between IUSQ.DE and DFNS.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.51 |
The correlation between IUSQ.DE and DFNS.L shifts across timeframes, from 0.40 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IUSQ.DE vs. DFNS.L — Risk / Return Rank
IUSQ.DE
DFNS.L
IUSQ.DE vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI UCITS ETF (Acc) (IUSQ.DE) 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.
| IUSQ.DE | DFNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.11 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | 0.69 | +3.28 |
| Martin ratioReturn relative to average drawdown | 16.29 | 1.60 | +14.69 |
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Drawdowns
IUSQ.DE vs. DFNS.L - Drawdown Comparison
The maximum IUSQ.DE drawdown since its inception was -33.60%, which is greater than DFNS.L's maximum drawdown of -18.92%. Use the drawdown chart below to compare losses from any high point for IUSQ.DE and DFNS.L.
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Drawdown Indicators
| IUSQ.DE | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.60% | -18.92% | -14.68% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -18.92% | +12.44% |
Max Drawdown (3Y)Largest decline over 3 years | -21.25% | -18.92% | -2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -21.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.60% | — | — |
Current DrawdownCurrent decline from peak | -1.37% | -17.00% | +15.63% |
Average DrawdownAverage peak-to-trough decline | -4.18% | -3.26% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 8.13% | -6.55% |
Volatility
IUSQ.DE vs. DFNS.L - Volatility Comparison
The current volatility for iShares MSCI ACWI UCITS ETF (Acc) (IUSQ.DE) is 3.41%, while VanEck Defense UCITS ETF (DFNS.L) has a volatility of 7.77%. This indicates that IUSQ.DE 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
| IUSQ.DE | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 7.77% | -4.36% |
Volatility (6M)Calculated over the trailing 6-month period | 8.53% | 19.34% | -10.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.69% | 25.13% | -13.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 21.47% | -7.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 21.47% | -6.44% |
IUSQ.DE vs. DFNS.L - Expense Ratio Comparison
IUSQ.DE has a 0.20% expense ratio, which is lower than DFNS.L's 0.55% expense ratio.
Dividends
IUSQ.DE vs. DFNS.L - Dividend Comparison
Neither IUSQ.DE nor DFNS.L has paid dividends to shareholders.
Frequently Asked Questions
IUSQ.DE and DFNS.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSQ.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSQ.DE is cheaper with a 0.20% expense ratio, compared with 0.55% for DFNS.L.
IUSQ.DE is categorized as Global Equities, while DFNS.L is Aerospace & Defense. IUSQ.DE tracks MSCI All Country World (ACWI), while DFNS.L tracks MarketVector™ Global Defense Industry Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.20% for IUSQ.DE and 0.55% for DFNS.L.
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