SMGB.L vs. DFND.AS

Last updated Jun 14, 2026

SMGB.L (VanEck Semiconductor UCITS ETF) and DFND.AS (iShares Global Aerospace & Defence UCITS ETF) are both exchange-traded funds - SMGB.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index, 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. Both charge a 0.35% expense ratio.

Performance

SMGB.L vs. DFND.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Semiconductor UCITS ETF (SMGB.L) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

SMGB.L

• 1D: 5.59%
• 1M: 11.03%
• YTD: 87.48%
• 6M: 89.61%
• 1Y: 168.08%
• 3Y*: 55.48%
• 5Y*: 38.58%
• 10Y*: —

DFND.AS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMGB.L vs. DFND.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMGB.L VanEck Semiconductor UCITS ETF	87.48%	38.79%	10.77%
DFND.AS iShares Global Aerospace & Defence UCITS ETF	0.00%	0.00%	16.10%

Correlation

The correlation between SMGB.L 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 16, 2024	0.09

Return for Risk

SMGB.L vs. DFND.AS — Risk / Return Rank

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

SMGB.L

SMGB.L Risk / Return Rank: 97
SMGB.L Sharpe Ratio Rank: 98
SMGB.L Sortino Ratio Rank: 96
SMGB.L Omega Ratio Rank: 95
SMGB.L Calmar Ratio Rank: 98
SMGB.L Martin Ratio Rank: 98

DFND.AS

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.

SMGB.L vs. DFND.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor UCITS ETF (SMGB.L) 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.

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.

	SMGB.L	DFND.AS	Difference
Sharpe ratio: Return per unit of total volatility	5.07	—	—
Sortino ratio: Return per unit of downside risk	5.23	—	—
Omega ratio: Gain probability vs. loss probability	1.68	—	—
Calmar ratio: Return relative to maximum drawdown	13.71	—	—
Martin ratio: Return relative to average drawdown	45.80	—	—

Drawdowns

Drawdown Indicators

	SMGB.L	DFND.AS	Difference
Max Drawdown Largest peak-to-trough decline	-36.23%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-36.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-36.23%	—	—
Current Drawdown Current decline from peak	-1.44%	—	—
Average Drawdown Average peak-to-trough decline	-9.83%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	—	—

Volatility

Volatility by Period

	SMGB.L	DFND.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	32.29%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.70%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.40%	—	—

SMGB.L vs. DFND.AS - Expense Ratio Comparison

Both SMGB.L and DFND.AS have an expense ratio of 0.35%.

Dividends

SMGB.L vs. DFND.AS - Dividend Comparison

Neither SMGB.L nor DFND.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SMGB.L and DFND.AS in my portfolio?

SMGB.L 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.

Which ETF is better, SMGB.L or DFND.AS?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMGB.L or DFND.AS?

SMGB.L and DFND.AS have the same expense ratio: 0.35% per year.

What is the main difference between SMGB.L and DFND.AS?

SMGB.L is categorized as Semiconductors, while DFND.AS is Industrials Equities. SMGB.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index, while DFND.AS tracks S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. They also come from different issuers: VanEck and iShares.