WDEF.L vs. IDFN.L
WDEF.L (WisdomTree Europe Defence UCITS ETF - EUR Acc EUR) and IDFN.L (Invesco Defence Innovation UCITS ETF Acc) are both Aerospace & Defense funds - WDEF.L tracks the WisdomTree Europe Defence UCITS Index while IDFN.L tracks the S&P Kensho Global Future Defense Index. Both are passively managed. Over the past year, WDEF.L returned -5.08% vs 72.47% for IDFN.L. At a 0.48 correlation, their price movements are largely independent. WDEF.L charges 0.40%/yr vs 0.35%/yr for IDFN.L.
Performance
WDEF.L vs. IDFN.L - Performance Comparison
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Different Trading Currencies
WDEF.L is traded in EUR, while IDFN.L is traded in USD. To make them comparable, the IDFN.L 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 0.87% return, which is significantly lower than IDFN.L's 36.15% return.
WDEF.L
- 1D
- -1.17%
- 1M
- -3.03%
- YTD
- 0.87%
- 6M
- 5.27%
- 1Y
- -5.08%
- 3Y*
- 9.89%
- 5Y*
- 5.18%
- 10Y*
- —
IDFN.L
- 1D
- -1.64%
- 1M
- 13.51%
- YTD
- 36.15%
- 6M
- 44.24%
- 1Y
- 72.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WDEF.L vs. IDFN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
WDEF.L WisdomTree Europe Defence UCITS ETF - EUR Acc EUR | 0.87% | 26.22% | -3.82% |
IDFN.L Invesco Defence Innovation UCITS ETF Acc | 36.15% | 37.42% | 10.87% |
Correlation
The correlation between WDEF.L and IDFN.L is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024 | 0.48 |
The correlation between WDEF.L and IDFN.L has been stable across timeframes, ranging from 0.48 to 0.52 - a consistent structural relationship.
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Return for Risk
WDEF.L vs. IDFN.L — Risk / Return Rank
WDEF.L
IDFN.L
WDEF.L vs. IDFN.L - 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 Invesco Defence Innovation UCITS ETF Acc (IDFN.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.
| WDEF.L | IDFN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.43 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 5.58 | -5.77 |
| Martin ratioReturn relative to average drawdown | -0.53 | 14.69 | -15.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WDEF.L | IDFN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.07 | 2.78 | -2.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 2.13 | -1.80 |
Drawdowns
WDEF.L vs. IDFN.L - Drawdown Comparison
The maximum WDEF.L drawdown since its inception was -35.48%, which is greater than IDFN.L's maximum drawdown of -16.28%. Use the drawdown chart below to compare losses from any high point for WDEF.L and IDFN.L.
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Drawdown Indicators
| WDEF.L | IDFN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.48% | -16.28% | -19.20% |
Max Drawdown (1Y)Largest decline over 1 year | -25.81% | -12.92% | -12.89% |
Max Drawdown (3Y)Largest decline over 3 years | -25.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.24% | — | — |
Current DrawdownCurrent decline from peak | -14.92% | -4.95% | -9.97% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -3.59% | -4.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.11% | 4.92% | +4.19% |
Volatility
WDEF.L vs. IDFN.L - Volatility Comparison
WisdomTree Europe Defence UCITS ETF - EUR Acc EUR (WDEF.L) has a higher volatility of 10.75% compared to Invesco Defence Innovation UCITS ETF Acc (IDFN.L) at 10.01%. This indicates that WDEF.L's price experiences larger fluctuations and is considered to be riskier than IDFN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WDEF.L | IDFN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.75% | 10.01% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 64.30% | 20.78% | +43.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.62% | 25.97% | +47.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.70% | 27.36% | +15.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.66% | 27.36% | +14.30% |
WDEF.L vs. IDFN.L - Expense Ratio Comparison
WDEF.L has a 0.40% expense ratio, which is higher than IDFN.L's 0.35% expense ratio.
Dividends
WDEF.L vs. IDFN.L - Dividend Comparison
Neither WDEF.L nor IDFN.L has paid dividends to shareholders.
Frequently Asked Questions
WDEF.L and IDFN.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IDFN.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IDFN.L is cheaper with a 0.35% expense ratio, compared with 0.40% for WDEF.L.
WDEF.L tracks WisdomTree Europe Defence UCITS Index, while IDFN.L tracks S&P Kensho Global Future Defense Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.40% for WDEF.L and 0.35% for IDFN.L.
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