MLPD vs. DFEN.DE
MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - MLPD is a Derivative Income fund tracking the Cboe MLPX ATM BuyWrite Index, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past year, MLPD returned 15.24% vs 15.81% for DFEN.DE. At a 0.14 correlation, their price movements are largely independent. MLPD charges 0.60%/yr vs 0.55%/yr for DFEN.DE.
Performance
MLPD vs. DFEN.DE - Performance Comparison
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Different Trading Currencies
MLPD is traded in USD, while DFEN.DE is traded in EUR. To make them comparable, the DFEN.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MLPD achieves a 5.20% return, which is significantly higher than DFEN.DE's 2.46% return.
MLPD
- 1D
- 0.22%
- 1M
- -0.32%
- YTD
- 5.20%
- 6M
- 6.70%
- 1Y
- 15.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFEN.DE
- 1D
- -1.67%
- 1M
- -5.18%
- YTD
- 2.46%
- 6M
- 8.65%
- 1Y
- 15.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MLPD vs. DFEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MLPD Global X MLP & Energy Infrastructure Covered Call ETF | 5.20% | 11.77% | 9.42% |
DFEN.DE VanEck Defense UCITS ETF A | 2.46% | 70.20% | 17.47% |
Correlation
The correlation between MLPD and DFEN.DE is 0.05, 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 (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 9, 2024 | 0.14 |
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Return for Risk
MLPD vs. DFEN.DE — Risk / Return Rank
MLPD
DFEN.DE
MLPD vs. DFEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) and VanEck Defense UCITS ETF A (DFEN.DE). 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.
| MLPD | DFEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.12 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 0.84 | +2.35 |
| Martin ratioReturn relative to average drawdown | 10.41 | 2.11 | +8.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MLPD | DFEN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 0.63 | +1.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 1.84 | -0.69 |
Drawdowns
MLPD vs. DFEN.DE - Drawdown Comparison
The maximum MLPD drawdown since its inception was -12.90%, smaller than the maximum DFEN.DE drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for MLPD and DFEN.DE.
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Drawdown Indicators
| MLPD | DFEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.90% | -18.74% | +5.84% |
Max Drawdown (1Y)Largest decline over 1 year | -4.80% | -18.74% | +13.94% |
Current DrawdownCurrent decline from peak | -1.77% | -15.76% | +13.99% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -3.53% | +2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 7.47% | -6.00% |
Volatility
MLPD vs. DFEN.DE - Volatility Comparison
The current volatility for Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) is 2.91%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.47%. This indicates that MLPD experiences smaller price fluctuations and is considered to be less risky than DFEN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPD | DFEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 7.47% | -4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 5.32% | 19.44% | -14.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.40% | 25.04% | -17.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.40% | 21.97% | -10.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.40% | 21.97% | -10.57% |
MLPD vs. DFEN.DE - Expense Ratio Comparison
MLPD has a 0.60% expense ratio, which is higher than DFEN.DE's 0.55% expense ratio.
Dividends
MLPD vs. DFEN.DE - Dividend Comparison
MLPD's dividend yield for the trailing twelve months is around 13.44%, while DFEN.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DFEN.DE VanEck Defense UCITS ETF A | 0.00% | 0.00% | 0.00% |
MLPD Global X MLP & Energy Infrastructure Covered Call ETF | 13.44% | 13.45% | 6.68% |
Frequently Asked Questions
MLPD and DFEN.DE have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DFEN.DE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DFEN.DE is cheaper with a 0.55% expense ratio, compared with 0.60% for MLPD.
MLPD is categorized as Derivative Income, while DFEN.DE is Aerospace & Defense. MLPD tracks Cboe MLPX ATM BuyWrite Index, while DFEN.DE tracks MarketVector Global Defense Industry Index. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.60% for MLPD and 0.55% for DFEN.DE.
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