VAGF.DE vs. DFND.AS

Last updated Jun 13, 2026

VAGF.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) and DFND.AS (iShares Global Aerospace & Defence UCITS ETF) are both exchange-traded funds - VAGF.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), 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 0.03 correlation, their price movements are largely independent. VAGF.DE charges 0.10%/yr vs 0.35%/yr for DFND.AS.

Performance

VAGF.DE vs. DFND.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) and iShares Global Aerospace & Defence UCITS ETF (DFND.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

VAGF.DE

• 1D: 0.47%
• 1M: 0.21%
• YTD: -0.46%
• 6M: -0.42%
• 1Y: 1.28%
• 3Y*: 2.14%
• 5Y*: -1.75%
• 10Y*: —

DFND.AS

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

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

VAGF.DE vs. DFND.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc	-0.46%	3.03%	2.35%
DFND.AS iShares Global Aerospace & Defence UCITS ETF	0.00%	0.00%	19.34%

Correlation

The correlation between VAGF.DE and DFND.AS is 0.03, 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	0.03

Return for Risk

VAGF.DE vs. DFND.AS — Risk / Return Rank

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

VAGF.DE

VAGF.DE Risk / Return Rank: 12
VAGF.DE Sharpe Ratio Rank: 12
VAGF.DE Sortino Ratio Rank: 11
VAGF.DE Omega Ratio Rank: 11
VAGF.DE Calmar Ratio Rank: 14
VAGF.DE Martin Ratio Rank: 14

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.

VAGF.DE vs. DFND.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) 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.

	VAGF.DE	DFND.AS	Difference
Sharpe ratio: Return per unit of total volatility	0.19	—	—
Sortino ratio: Return per unit of downside risk	0.30	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.35	—	—
Martin ratio: Return relative to average drawdown	0.86	—	—

Drawdowns

Drawdown Indicators

	VAGF.DE	DFND.AS	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.80%	—	—
Current Drawdown Current decline from peak	-10.70%	—	—
Average Drawdown Average peak-to-trough decline	-8.98%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	—	—

Volatility

Volatility by Period

	VAGF.DE	DFND.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.18%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.92%	—	—

VAGF.DE vs. DFND.AS - Expense Ratio Comparison

VAGF.DE has a 0.10% expense ratio, which is lower than DFND.AS's 0.35% expense ratio.

Dividends

VAGF.DE vs. DFND.AS - Dividend Comparison

Neither VAGF.DE nor DFND.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VAGF.DE and DFND.AS in my portfolio?

VAGF.DE and DFND.AS have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAGF.DE or DFND.AS?

On fees, VAGF.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAGF.DE or DFND.AS?

VAGF.DE is cheaper with a 0.10% expense ratio, compared with 0.35% for DFND.AS.

What is the main difference between VAGF.DE and DFND.AS?

VAGF.DE is categorized as Global Bonds, while DFND.AS is Industrials Equities. VAGF.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), while DFND.AS tracks S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGF.DE and 0.35% for DFND.AS.