PPFB.DE vs. DFEN.DE
PPFB.DE (iShares Physical Gold ETC) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - PPFB.DE is a Precious Metals fund tracking the Gold, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past 3 years, PPFB.DE returned 28.05%/yr vs 37.67%/yr for DFEN.DE. At a 0.13 correlation, their price movements are largely independent. PPFB.DE charges 0.12%/yr vs 0.55%/yr for DFEN.DE.
Performance
PPFB.DE vs. DFEN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PPFB.DE achieves a 2.74% return, which is significantly higher than DFEN.DE's 1.84% return.
PPFB.DE
- 1D
- 0.61%
- 1M
- -3.85%
- YTD
- 2.74%
- 6M
- 6.61%
- 1Y
- 31.41%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
DFEN.DE
- 1D
- 0.53%
- 1M
- -0.93%
- YTD
- 1.84%
- 6M
- 3.89%
- 1Y
- 10.60%
- 3Y*
- 37.67%
- 5Y*
- —
- 10Y*
- —
PPFB.DE vs. DFEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PPFB.DE iShares Physical Gold ETC | 2.74% | 49.11% | 34.17% | 1.12% |
DFEN.DE VanEck Defense UCITS ETF A | 1.84% | 50.76% | 51.97% | 22.65% |
Correlation
The correlation between PPFB.DE and DFEN.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.13 |
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Return for Risk
PPFB.DE vs. DFEN.DE — Risk / Return Rank
PPFB.DE
DFEN.DE
PPFB.DE vs. DFEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) 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.
| PPFB.DE | DFEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.10 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 0.62 | +1.19 |
| Martin ratioReturn relative to average drawdown | 4.60 | 1.46 | +3.14 |
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
| PPFB.DE | DFEN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 0.46 | +0.84 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 1.84 | -0.58 |
Drawdowns
PPFB.DE vs. DFEN.DE - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -16.60%, smaller than the maximum DFEN.DE drawdown of -18.60%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and DFEN.DE.
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Drawdown Indicators
| PPFB.DE | DFEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.60% | -18.60% | +2.00% |
Max Drawdown (1Y)Largest decline over 1 year | -16.60% | -18.60% | +2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -18.60% | +2.00% |
Current DrawdownCurrent decline from peak | -15.00% | -16.99% | +1.99% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -3.20% | -1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 7.93% | -1.38% |
Volatility
PPFB.DE vs. DFEN.DE - Volatility Comparison
The current volatility for iShares Physical Gold ETC (PPFB.DE) is 5.11%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.01%. This indicates that PPFB.DE 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
| PPFB.DE | DFEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 7.01% | -1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 19.21% | +0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.12% | 24.92% | -1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 21.20% | -5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 21.20% | -5.07% |
PPFB.DE vs. DFEN.DE - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than DFEN.DE's 0.55% expense ratio.
Dividends
PPFB.DE vs. DFEN.DE - Dividend Comparison
Neither PPFB.DE nor DFEN.DE has paid dividends to shareholders.
Frequently Asked Questions
PPFB.DE and DFEN.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPFB.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPFB.DE is cheaper with a 0.12% expense ratio, compared with 0.55% for DFEN.DE.
PPFB.DE is categorized as Precious Metals, while DFEN.DE is Aerospace & Defense. PPFB.DE tracks Gold, while DFEN.DE tracks MarketVector Global Defense Industry Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.12% for PPFB.DE and 0.55% for DFEN.DE.
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