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VUKG.L vs. DFNG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUKG.L vs. DFNG.L

Last updated Jun 14, 2026

VUKG.L (Vanguard FTSE 100 UCITS ETF (GBP) Accumulating) and DFNG.L (VanEck Defense ETF A USD Acc GBP) are both exchange-traded funds - VUKG.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index. Both are passively managed. Over the past 3 years, VUKG.L returned 18.02%/yr vs 37.60%/yr for DFNG.L. At a 0.36 correlation, their price movements are largely independent. VUKG.L charges 0.09%/yr vs 0.55%/yr for DFNG.L.

Performance

VUKG.L vs. DFNG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.L) and VanEck Defense ETF A USD Acc GBP (DFNG.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VUKG.L achieves a 6.61% return, which is significantly higher than DFNG.L's 1.28% return.

VUKG.L

1D
1.55%
1M
1.11%
YTD
6.61%
6M
9.80%
1Y
21.78%
3Y*
18.02%
5Y*
15.34%
10Y*
—

DFNG.L

1D
0.00%
1M
-0.58%
YTD
1.28%
6M
2.03%
1Y
12.40%
3Y*
37.60%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VUKG.L vs. DFNG.L - Yearly Performance Comparison

2026 (YTD)202520242023
VUKG.L
Vanguard FTSE 100 UCITS ETF (GBP) Accumulating		6.61%27.30%13.56%7.28%
DFNG.L
VanEck Defense ETF A USD Acc GBP		1.28%56.54%46.20%-1.18%

Correlation

The correlation between VUKG.L and DFNG.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2023

0.36

Compare stocks, funds, or ETFs

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Vanguard FTSE 100 UCITS ETF (GBP) Accumulating

VanEck Defense ETF A USD Acc GBP

Often compared with VUKG.L:
VUKG.L vs. VUAG.LVUKG.L vs. VUKE.LVUKG.L vs. CUKX.LVUKG.L vs. VMIG.LVUKG.L vs. VUSA.LVUKG.L vs. S100.LVUKG.L vs. HUKX.L
Often compared with DFNG.L:
DFNG.L vs. NATP.LDFNG.L vs. DFNDDFNG.L vs. NATO.LDFNG.L vs. SHLDDFNG.L vs. ARMGDFNG.L vs. EQGB.LDFNG.L vs. PPA

Return for Risk

VUKG.L vs. DFNG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VUKG.L
VUKG.L Risk / Return Rank: 6363
Overall Rank
VUKG.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VUKG.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
VUKG.L Omega Ratio Rank: 7171
Omega Ratio Rank
VUKG.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
VUKG.L Martin Ratio Rank: 5252
Martin Ratio Rank
DFNG.L
DFNG.L Risk / Return Rank: 2020
Overall Rank
DFNG.L Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
DFNG.L Sortino Ratio Rank: 2121
Sortino Ratio Rank
DFNG.L Omega Ratio Rank: 2020
Omega Ratio Rank
DFNG.L Calmar Ratio Rank: 1919
Calmar Ratio Rank
DFNG.L Martin Ratio Rank: 1919
Martin Ratio Rank
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.

VUKG.L vs. DFNG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.L) and VanEck Defense ETF A USD Acc GBP (DFNG.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.

VUKG.LDFNG.LDifference
Sharpe ratioReturn per unit of total volatility
1.93
0.59

+1.33

Sortino ratioReturn per unit of downside risk
2.71
1.01

+1.70

Omega ratioGain probability vs. loss probability

1.36

1.12

+0.25

Calmar ratioReturn relative to maximum drawdown

2.41

0.74

+1.67

Martin ratioReturn relative to average drawdown

7.72

1.83

+5.90

VUKG.L vs. DFNG.L - Sharpe Ratio Comparison

The current VUKG.L Sharpe Ratio is 1.93, which is higher than the DFNG.L Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of VUKG.L and DFNG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VUKG.L vs. DFNG.L - Drawdown Comparison

The maximum VUKG.L drawdown since its inception was -34.32%, which is greater than DFNG.L's maximum drawdown of -22.59%. Use the drawdown chart below to compare losses from any high point for VUKG.L and DFNG.L.

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Drawdown Indicators

VUKG.LDFNG.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.32%

-22.59%

-11.73%

Max Drawdown (1Y)

Largest decline over 1 year

-8.74%

-19.68%

+10.94%

Max Drawdown (3Y)

Largest decline over 3 years

-12.23%

-19.68%

+7.45%

Max Drawdown (5Y)

Largest decline over 5 years

-12.23%

—

—

Current Drawdown

Current decline from peak

-3.21%

-17.26%

+14.05%

Average Drawdown

Average peak-to-trough decline

-3.97%

-4.98%

+1.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.73%

7.94%

-5.21%

Volatility

VUKG.L vs. DFNG.L - Volatility Comparison

The current volatility for Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.L) is 3.52%, while VanEck Defense ETF A USD Acc GBP (DFNG.L) has a volatility of 8.19%. This indicates that VUKG.L experiences smaller price fluctuations and is considered to be less risky than DFNG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VUKG.LDFNG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.52%

8.19%

-4.67%

Volatility (6M)

Calculated over the trailing 6-month period

9.56%

19.02%

-9.46%

Volatility (1Y)

Calculated over the trailing 1-year period

10.93%

24.56%

-13.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.88%

23.38%

-10.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.22%

23.38%

-7.16%

VUKG.L vs. DFNG.L - Expense Ratio Comparison

VUKG.L has a 0.09% expense ratio, which is lower than DFNG.L's 0.55% expense ratio.

Dividends

VUKG.L vs. DFNG.L - Dividend Comparison

Neither VUKG.L nor DFNG.L has paid dividends to shareholders.

PositionTTM2025202420232022202120202019
DFNG.L
VanEck Defense ETF A USD Acc GBP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VUKG.L
Vanguard FTSE 100 UCITS ETF (GBP) Accumulating		0.00%0.79%3.67%3.71%3.84%3.84%3.06%1.92%

Frequently Asked Questions

VUKG.L and DFNG.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VUKG.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VUKG.L is cheaper with a 0.09% expense ratio, compared with 0.55% for DFNG.L.

VUKG.L is categorized as Europe Equities, while DFNG.L is Aerospace & Defense. VUKG.L tracks FTSE AllSh TR GBP, while DFNG.L tracks MarketVector Global Defense Industry index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.09% for VUKG.L and 0.55% for DFNG.L.

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