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WDEF.L vs. DFEN
Performance
Return for Risk
Dividends
Drawdowns
Volatility

WDEF.L vs. DFEN

Last updated Apr 1, 2026

Compare and contrast key facts about WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN).

WDEF.L and DFEN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WDEF.L is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Europe Defence UCITS Index. It was launched on Mar 4, 2025. DFEN is a passively managed fund by Direxion that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index (300%). It was launched on May 3, 2017. Both WDEF.L and DFEN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

WDEF.L vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

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WDEF.L vs. DFEN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WDEF.L
WisdomTree Europe Defence UCITS ETF - EUR Acc EUR		7.03%26.22%-2.46%20.25%-19.48%26.65%3.41%37.42%-17.34%4.40%
DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares		0.40%126.16%35.46%20.96%13.62%21.15%-72.69%99.50%-29.71%54.22%
Different Trading Currencies

WDEF.L is traded in EUR, while DFEN is traded in USD. To make them comparable, the DFEN values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, WDEF.L achieves a 7.03% return, which is significantly higher than DFEN's 0.40% return.

WDEF.L

1D
2.46%
1M
-6.69%
YTD
7.03%
6M
-5.34%
1Y
24.01%
3Y*
11.83%
5Y*
8.24%
10Y*
—

DFEN

1D
10.22%
1M
-28.52%
YTD
0.40%
6M
2.71%
1Y
112.49%
3Y*
53.05%
5Y*
31.01%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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WisdomTree Europe Defence UCITS ETF - EUR Acc EUR

Direxion Daily Aerospace & Defense Bull 3X Shares

Often compared with WDEF.L:
WDEF.L vs. EUADWDEF.L vs. DFNS.LWDEF.L vs. EUDF.DEWDEF.L vs. XS6R.LWDEF.L vs. WELK.DEWDEF.L vs. NATOWDEF.L vs. VOO
Often compared with DFEN:
DFEN vs. ITADFEN vs. XARDFEN vs. PPADFEN vs. SOXLDFEN vs. VOODFEN vs. SPXLDFEN vs. EUDF.DE

WDEF.L vs. DFEN - Expense Ratio Comparison

WDEF.L has a 0.40% expense ratio, which is lower than DFEN's 0.99% expense ratio.

DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares
WDEF.L
WisdomTree Europe Defence UCITS ETF - EUR Acc EUR

Return for Risk

WDEF.L vs. DFEN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WDEF.L
WDEF.L Risk / Return Rank: 4242
Overall Rank
WDEF.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
WDEF.L Sortino Ratio Rank: 3939
Sortino Ratio Rank
WDEF.L Omega Ratio Rank: 5252
Omega Ratio Rank
WDEF.L Calmar Ratio Rank: 5353
Calmar Ratio Rank
WDEF.L Martin Ratio Rank: 4545
Martin Ratio Rank
DFEN
DFEN Risk / Return Rank: 8888
Overall Rank
DFEN Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
DFEN Sortino Ratio Rank: 8787
Sortino Ratio Rank
DFEN Omega Ratio Rank: 8484
Omega Ratio Rank
DFEN Calmar Ratio Rank: 9191
Calmar Ratio Rank
DFEN Martin Ratio Rank: 8888
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.

WDEF.L vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.

WDEF.LDFENDifference

Sharpe ratio

Return per unit of total volatility

0.31

1.60

-1.29

Sortino ratio

Return per unit of downside risk

1.07

2.10

-1.03

Omega ratio

Gain probability vs. loss probability

1.19

1.30

-0.11

Calmar ratio

Return relative to maximum drawdown

1.28

2.77

-1.48

Martin ratio

Return relative to average drawdown

4.05

8.91

-4.86

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WDEF.L vs. DFEN - Sharpe Ratio Comparison

The current WDEF.L Sharpe Ratio is 0.31, which is lower than the DFEN Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of WDEF.L and DFEN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

WDEF.LDFENDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.31

1.60

-1.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

0.54

-0.28

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

0.20

+0.18

Correlation

The correlation between WDEF.L and DFEN is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

WDEF.L vs. DFEN - Dividend Comparison

WDEF.L has not paid dividends to shareholders, while DFEN's dividend yield for the trailing twelve months is around 9.03%.

TTM202520242023202220212020201920182017
WDEF.L
WisdomTree Europe Defence UCITS ETF - EUR Acc EUR		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares		9.03%8.89%14.12%1.13%0.46%1.89%0.48%0.50%1.07%1.50%

Drawdowns

WDEF.L vs. DFEN - Drawdown Comparison

The maximum WDEF.L drawdown since its inception was -35.48%, smaller than the maximum DFEN drawdown of -91.25%. Use the drawdown chart below to compare losses from any high point for WDEF.L and DFEN.

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Drawdown Indicators

WDEF.LDFENDifference

Max Drawdown

Largest peak-to-trough decline

-35.48%

-91.36%

+55.88%

Max Drawdown (1Y)

Largest decline over 1 year

-25.81%

-41.75%

+15.94%

Max Drawdown (5Y)

Largest decline over 5 years

-30.24%

-56.23%

+25.99%

Current Drawdown

Current decline from peak

-9.72%

-35.23%

+25.51%

Average Drawdown

Average peak-to-trough decline

-8.24%

-45.54%

+37.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.17%

12.18%

-4.01%

Volatility

WDEF.L vs. DFEN - Volatility Comparison

WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) has a higher volatility of 47.29% compared to Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) at 22.78%. This indicates that WDEF.L's price experiences larger fluctuations and is considered to be riskier than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WDEF.LDFENDifference

Volatility (1M)

Calculated over the trailing 1-month period

47.29%

22.78%

+24.51%

Volatility (6M)

Calculated over the trailing 6-month period

68.75%

48.07%

+20.68%

Volatility (1Y)

Calculated over the trailing 1-year period

75.09%

70.54%

+4.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

42.69%

58.28%

-15.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

41.85%

70.87%

-29.02%