TEET.L vs. DFNS.L
TEET.L (VanEck European Equal Weight Screened UCITS ETF) and DFNS.L (VanEck Defense UCITS ETF) are both exchange-traded funds - TEET.L is a Europe Equities fund tracking the VanEck European Equal Weight Screened UCITS ETF, while DFNS.L is a Aerospace & Defense fund tracking the MarketVector™ Global Defense Industry Index. Both are passively managed. Over the past 3 years, TEET.L returned 16.68%/yr vs 35.29%/yr for DFNS.L. At a 0.45 correlation, their price movements are largely independent. TEET.L charges 0.40%/yr vs 0.55%/yr for DFNS.L.
Performance
TEET.L vs. DFNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, TEET.L achieves a 6.60% return, which is significantly higher than DFNS.L's -5.22% return.
TEET.L
- 1D
- -0.53%
- 1M
- -1.05%
- 6M
- 4.97%
- YTD
- 6.60%
- 1Y
- 17.45%
- 3Y*
- 16.68%
- 5Y*
- 10.23%
- 10Y*
- 11.68%
DFNS.L
- 1D
- 0.00%
- 1M
- -5.79%
- 6M
- -20.35%
- YTD
- -5.22%
- 1Y
- 2.66%
- 3Y*
- 35.29%
- 5Y*
- —
- 10Y*
- —
TEET.L vs. DFNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TEET.L VanEck European Equal Weight Screened UCITS ETF | 6.60% | 36.69% | 5.24% | 11.90% |
DFNS.L VanEck Defense UCITS ETF | -5.22% | 68.21% | 43.74% | 25.97% |
Correlation
The correlation between TEET.L and DFNS.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.45 |
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Return for Risk
TEET.L vs. DFNS.L — Risk / Return Rank
TEET.L
DFNS.L
TEET.L vs. DFNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck European Equal Weight Screened UCITS ETF (TEET.L) and VanEck Defense UCITS ETF (DFNS.L). 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.
| TEET.L | DFNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.04 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 0.11 | +1.22 |
| Martin ratioReturn relative to average drawdown | 4.82 | 0.26 | +4.56 |
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Drawdowns
TEET.L vs. DFNS.L - Drawdown Comparison
The maximum TEET.L drawdown since its inception was -37.34%, which is greater than DFNS.L's maximum drawdown of -25.29%. Use the drawdown chart below to compare losses from any high point for TEET.L and DFNS.L.
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Drawdown Indicators
| TEET.L | DFNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.34% | -25.29% | -12.05% |
Max Drawdown (1Y)Largest decline over 1 year | -12.35% | -25.29% | +12.94% |
Max Drawdown (3Y)Largest decline over 3 years | -15.53% | -25.29% | +9.76% |
Max Drawdown (5Y)Largest decline over 5 years | -34.03% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.34% | — | — |
Current DrawdownCurrent decline from peak | -2.26% | -22.48% | +20.22% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -3.97% | -3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 10.18% | -6.79% |
Volatility
TEET.L vs. DFNS.L - Volatility Comparison
The current volatility for VanEck European Equal Weight Screened UCITS ETF (TEET.L) is 4.76%, while VanEck Defense UCITS ETF (DFNS.L) has a volatility of 8.92%. This indicates that TEET.L experiences smaller price fluctuations and is considered to be less risky than DFNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEET.L | DFNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 8.92% | -4.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.79% | 19.77% | -4.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.16% | 25.92% | -8.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 21.86% | -3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.11% | 21.86% | -2.75% |
TEET.L vs. DFNS.L - Expense Ratio Comparison
TEET.L has a 0.40% expense ratio, which is lower than DFNS.L's 0.55% expense ratio.
Dividends
TEET.L vs. DFNS.L - Dividend Comparison
TEET.L's dividend yield for the trailing twelve months is around 2.68%, while DFNS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DFNS.L VanEck Defense UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TEET.L VanEck European Equal Weight Screened UCITS ETF | 2.68% | 2.41% | 2.84% | 2.58% | 2.92% | 2.60% | 2.20% | 3.69% | 4.29% | 2.69% |
Frequently Asked Questions
TEET.L and DFNS.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TEET.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TEET.L is cheaper with a 0.40% expense ratio, compared with 0.55% for DFNS.L.
TEET.L is categorized as Europe Equities, while DFNS.L is Aerospace & Defense. TEET.L tracks VanEck European Equal Weight Screened UCITS ETF, while DFNS.L tracks MarketVector™ Global Defense Industry Index. Their fees differ too: 0.40% for TEET.L and 0.55% for DFNS.L.
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