JEDI vs. DFNS.L

Last updated Jun 4, 2026

JEDI (Defiance Drone & Modern Warfare ETF) and DFNS.L (VanEck Defense UCITS ETF) are both Aerospace & Defense funds - JEDI tracks the BITA Drone & Modern Warfare Select Index while DFNS.L tracks the MarketVector™ Global Defense Industry Index. Both are passively managed. A 0.66 correlation means they provide meaningful diversification when combined. JEDI charges 0.69%/yr vs 0.55%/yr for DFNS.L.

Performance

JEDI vs. DFNS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Drone & Modern Warfare ETF (JEDI) and VanEck Defense UCITS ETF (DFNS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEDI achieves a 52.32% return, which is significantly higher than DFNS.L's 2.88% return.

JEDI

• 1D: -8.76%
• 1M: 33.56%
• YTD: 52.32%
• 6M: 62.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFNS.L

• 1D: -1.80%
• 1M: -5.10%
• YTD: 2.88%
• 6M: 8.71%
• 1Y: 15.78%
• 3Y*: 42.95%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JEDI vs. DFNS.L - Yearly Performance Comparison

	2026 (YTD)	2025
JEDI Defiance Drone & Modern Warfare ETF	52.32%	-3.73%
DFNS.L VanEck Defense UCITS ETF	2.88%	-3.31%

Correlation

The correlation between JEDI and DFNS.L is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.66

Return for Risk

JEDI vs. DFNS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFNS.L

DFNS.L Risk / Return Rank: 19
DFNS.L Sharpe Ratio Rank: 19
DFNS.L Sortino Ratio Rank: 20
DFNS.L Omega Ratio Rank: 18
DFNS.L Calmar Ratio Rank: 19
DFNS.L Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JEDI vs. DFNS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Drone & Modern Warfare ETF (JEDI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JEDI	DFNS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	2.01	-0.41

Drawdowns

JEDI vs. DFNS.L - Drawdown Comparison

The maximum JEDI drawdown since its inception was -21.67%, which is greater than DFNS.L's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for JEDI and DFNS.L.

Drawdown Indicators

	JEDI	DFNS.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.67%	-18.72%	-2.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.72%	—
Current Drawdown Current decline from peak	-12.85%	-15.86%	+3.01%
Average Drawdown Average peak-to-trough decline	-9.16%	-3.39%	-5.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.50%	—

Volatility

Volatility by Period

	JEDI	DFNS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	47.61%	24.88%	+22.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.61%	21.56%	+26.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.61%	21.56%	+26.05%

JEDI vs. DFNS.L - Expense Ratio Comparison

JEDI has a 0.69% expense ratio, which is higher than DFNS.L's 0.55% expense ratio.

Dividends

JEDI vs. DFNS.L - Dividend Comparison

Neither JEDI nor DFNS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JEDI and DFNS.L in my portfolio?

JEDI and DFNS.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEDI or DFNS.L?

On fees, DFNS.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEDI or DFNS.L?

DFNS.L is cheaper with a 0.55% expense ratio, compared with 0.69% for JEDI.

What is the main difference between JEDI and DFNS.L?

JEDI tracks BITA Drone & Modern Warfare Select Index, while DFNS.L tracks MarketVector™ Global Defense Industry Index. Their fees differ too: 0.69% for JEDI and 0.55% for DFNS.L.