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LTAM.AS vs. DFND.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LTAM.AS vs. DFND.AS

Last updated Jun 5, 2026

LTAM.AS (iShares MSCI EM Latin America UCITS ETF USD (Dist)) and DFND.AS (iShares Global Aerospace & Defence UCITS ETF) are both exchange-traded funds - LTAM.AS is a Latin America Equities fund tracking the MSCI EM Latin America NR USD, while DFND.AS is a Industrials Equities fund tracking the S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. Both are passively managed. At a 0.09 correlation, their price movements are largely independent. LTAM.AS charges 0.20%/yr vs 0.35%/yr for DFND.AS.

Performance

LTAM.AS vs. DFND.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.AS) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

LTAM.AS is traded in EUR, while DFND.AS is traded in USD. To make them comparable, the DFND.AS values have been converted to EUR using the latest available exchange rates.

Returns By Period

LTAM.AS

1D
-0.60%
1M
-7.19%
YTD
11.12%
6M
8.42%
1Y
33.48%
3Y*
9.99%
5Y*
9.23%
10Y*
6.95%

DFND.AS

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

LTAM.AS vs. DFND.AS - Yearly Performance Comparison

2026 (YTD)20252024
LTAM.AS
iShares MSCI EM Latin America UCITS ETF USD (Dist)		11.12%36.08%-21.29%
DFND.AS
iShares Global Aerospace & Defence UCITS ETF		0.00%0.00%19.34%

Correlation

The correlation between LTAM.AS and DFND.AS is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (All Time)
Calculated using the full available price history since Feb 19, 2024

0.09

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iShares MSCI EM Latin America UCITS ETF USD (Dist)

iShares Global Aerospace & Defence UCITS ETF

Often compared with LTAM.AS:
LTAM.AS vs. LTAM.LLTAM.AS vs. SWRD.ASLTAM.AS vs. EWZLTAM.AS vs. SPYLTAM.AS vs. GOAI.DELTAM.AS vs. 5MVL.DELTAM.AS vs. PRAM.DE
Often compared with DFND.AS:
DFND.AS vs. DFNS.LDFND.AS vs. DFEN.DEDFND.AS vs. ITADFND.AS vs. SHLDDFND.AS vs. NATO.LDFND.AS vs. PPADFND.AS vs. VWRP.L

Return for Risk

LTAM.AS vs. DFND.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LTAM.AS
LTAM.AS Risk / Return Rank: 5656
Overall Rank
LTAM.AS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
LTAM.AS Sortino Ratio Rank: 5555
Sortino Ratio Rank
LTAM.AS Omega Ratio Rank: 5252
Omega Ratio Rank
LTAM.AS Calmar Ratio Rank: 6161
Calmar Ratio Rank
LTAM.AS Martin Ratio Rank: 5555
Martin Ratio Rank
DFND.AS
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.

LTAM.AS vs. DFND.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.AS) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). 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.

LTAM.ASDFND.ASDifference
Sharpe ratioReturn per unit of total volatility
1.87

—

—

Sortino ratioReturn per unit of downside risk
2.60

—

—

Omega ratioGain probability vs. loss probability

1.32

—

—

Calmar ratioReturn relative to maximum drawdown

3.00

—

—

Martin ratioReturn relative to average drawdown

9.22

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LTAM.AS vs. DFND.AS - Sharpe Ratio Comparison

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Sharpe Ratios by Period

LTAM.ASDFND.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.87

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.27

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.07

—

—

Drawdowns

LTAM.AS vs. DFND.AS - Drawdown Comparison

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Drawdown Indicators

LTAM.ASDFND.ASDifference

Max Drawdown

Largest peak-to-trough decline

-60.23%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-11.01%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-25.56%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-25.56%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-49.89%

—

—

Current Drawdown

Current decline from peak

-11.01%

—

—

Average Drawdown

Average peak-to-trough decline

-26.14%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.60%

—

—

Volatility

LTAM.AS vs. DFND.AS - Volatility Comparison

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Volatility by Period

LTAM.ASDFND.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

14.94%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

17.63%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.78%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.09%

—

—

LTAM.AS vs. DFND.AS - Expense Ratio Comparison

LTAM.AS has a 0.20% expense ratio, which is lower than DFND.AS's 0.35% expense ratio.

Dividends

LTAM.AS vs. DFND.AS - Dividend Comparison

LTAM.AS's dividend yield for the trailing twelve months is around 3.02%, while DFND.AS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
DFND.AS
iShares Global Aerospace & Defence 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%
LTAM.AS
iShares MSCI EM Latin America UCITS ETF USD (Dist)		3.02%3.21%5.22%3.99%6.79%2.66%1.65%2.11%1.84%1.41%1.23%2.69%

Frequently Asked Questions

LTAM.AS and DFND.AS have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, LTAM.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

LTAM.AS is cheaper with a 0.20% expense ratio, compared with 0.35% for DFND.AS.

LTAM.AS is categorized as Latin America Equities, while DFND.AS is Industrials Equities. LTAM.AS tracks MSCI EM Latin America NR USD, while DFND.AS tracks S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. Their fees differ too: 0.20% for LTAM.AS and 0.35% for DFND.AS.

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