PSWD vs. XDEF

Last updated Jul 14, 2026

PSWD (Xtrackers Cybersecurity Select Equity ETF) and XDEF (Xtrackers Europe Defense Technologies ETF) are both exchange-traded funds - PSWD is a Technology Equities fund tracking the Solactive Cyber Security ESG Screened Index, while XDEF is a Aerospace & Defense fund tracking the STOXX Europe Total Market Defence, Space and Cybersecurity Innovation 50-25 Index. Both are passively managed. At a 0.26 correlation, their price movements are largely independent. PSWD charges 0.20%/yr vs 0.35%/yr for XDEF.

Performance

PSWD vs. XDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Cybersecurity Select Equity ETF (PSWD) and Xtrackers Europe Defense Technologies ETF (XDEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PSWD

• 1D: 0.34%
• 1M: 12.87%
• 6M: 25.45%
• YTD: 29.56%
• 1Y: 21.93%
• 3Y*: 20.08%
• 5Y*: —
• 10Y*: —

XDEF

• 1D: -2.61%
• 1M: -3.50%
• 6M: -99.27%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSWD vs. XDEF - Yearly Performance Comparison

	2026 (YTD)
PSWD Xtrackers Cybersecurity Select Equity ETF	29.56%
XDEF Xtrackers Europe Defense Technologies ETF	-99.18%

Correlation

The correlation between PSWD and XDEF is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 2, 2026	0.26

Return for Risk

PSWD vs. XDEF — Risk / Return Rank

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

PSWD

PSWD Risk / Return Rank: 26
PSWD Sharpe Ratio Rank: 28
PSWD Sortino Ratio Rank: 27
PSWD Omega Ratio Rank: 28
PSWD Calmar Ratio Rank: 24
PSWD Martin Ratio Rank: 22

XDEF

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

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.

PSWD vs. XDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Cybersecurity Select Equity ETF (PSWD) and Xtrackers Europe Defense Technologies ETF (XDEF). 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.

	PSWD	XDEF	Difference
Sharpe ratio: Return per unit of total volatility	0.83	—	—
Sortino ratio: Return per unit of downside risk	1.25	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.93	—	—
Martin ratio: Return relative to average drawdown	2.09	—	—

Drawdowns

PSWD vs. XDEF - Drawdown Comparison

The maximum PSWD drawdown since its inception was -23.70%, smaller than the maximum XDEF drawdown of -99.30%. Use the drawdown chart below to compare losses from any high point for PSWD and XDEF.

Drawdown Indicators

	PSWD	XDEF	Difference
Max Drawdown Largest peak-to-trough decline	-23.70%	-99.30%	+75.60%
Max Drawdown (1Y) Largest decline over 1 year	-23.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.70%	—	—
Current Drawdown Current decline from peak	-2.68%	-99.27%	+96.59%
Average Drawdown Average peak-to-trough decline	-6.44%	-75.63%	+69.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.51%	—	—

Volatility

Volatility by Period

	PSWD	XDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.55%	141.11%	-114.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.92%	141.11%	-117.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.92%	141.11%	-117.19%

PSWD vs. XDEF - Expense Ratio Comparison

PSWD has a 0.20% expense ratio, which is lower than XDEF's 0.35% expense ratio.

Dividends

PSWD vs. XDEF - Dividend Comparison

PSWD's dividend yield for the trailing twelve months is around 0.60%, less than XDEF's 1.54% yield.

Position	TTM	2025	2024	2023
PSWD Xtrackers Cybersecurity Select Equity ETF	0.60%	0.88%	1.49%	0.55%
XDEF Xtrackers Europe Defense Technologies ETF	1.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSWD and XDEF in my portfolio?

PSWD and XDEF have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSWD or XDEF?

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

Which ETF is cheaper, PSWD or XDEF?

PSWD is cheaper with a 0.20% expense ratio, compared with 0.35% for XDEF.

Which ETF pays a higher dividend yield, PSWD or XDEF?

XDEF has the higher dividend yield at 1.54%, compared with 0.60% for PSWD.

What is the main difference between PSWD and XDEF?

PSWD is categorized as Technology Equities, while XDEF is Aerospace & Defense. PSWD tracks Solactive Cyber Security ESG Screened Index, while XDEF tracks STOXX Europe Total Market Defence, Space and Cybersecurity Innovation 50-25 Index. Their fees differ too: 0.20% for PSWD and 0.35% for XDEF.