WELT.DE vs. DFEN.DE

Last updated Jun 5, 2026

WELT.DE (Amundi S&P Global Industrials ESG UCITS ETF EUR Dist) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - WELT.DE is a Industrials Equities fund tracking the S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Industrials, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past year, WELT.DE returned 23.60% vs 12.18% for DFEN.DE. A 0.50 correlation means they provide meaningful diversification when combined. WELT.DE charges 0.18%/yr vs 0.55%/yr for DFEN.DE.

Performance

WELT.DE vs. DFEN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi S&P Global Industrials ESG UCITS ETF EUR Dist (WELT.DE) and VanEck Defense UCITS ETF A (DFEN.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WELT.DE achieves a 15.23% return, which is significantly higher than DFEN.DE's 4.02% return.

WELT.DE

• 1D: -0.14%
• 1M: -0.02%
• YTD: 15.23%
• 6M: 15.37%
• 1Y: 23.60%
• 3Y*: 17.33%
• 5Y*: —
• 10Y*: —

DFEN.DE

• 1D: 0.30%
• 1M: -2.84%
• YTD: 4.02%
• 6M: 8.12%
• 1Y: 12.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WELT.DE vs. DFEN.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WELT.DE Amundi S&P Global Industrials ESG UCITS ETF EUR Dist	15.23%	10.22%	16.35%	6.88%
DFEN.DE VanEck Defense UCITS ETF A	4.02%	50.76%	51.97%	8.67%

Correlation

The correlation between WELT.DE and DFEN.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023	0.50

The correlation between WELT.DE and DFEN.DE shifts across timeframes, from 0.32 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WELT.DE vs. DFEN.DE — Risk / Return Rank

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

WELT.DE

WELT.DE Risk / Return Rank: 48
WELT.DE Sharpe Ratio Rank: 44
WELT.DE Sortino Ratio Rank: 47
WELT.DE Omega Ratio Rank: 44
WELT.DE Calmar Ratio Rank: 51
WELT.DE Martin Ratio Rank: 54

DFEN.DE

DFEN.DE Risk / Return Rank: 19
DFEN.DE Sharpe Ratio Rank: 19
DFEN.DE Sortino Ratio Rank: 20
DFEN.DE Omega Ratio Rank: 18
DFEN.DE Calmar Ratio Rank: 19
DFEN.DE Martin Ratio Rank: 18

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.

WELT.DE vs. DFEN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi S&P Global Industrials ESG UCITS ETF EUR Dist (WELT.DE) and VanEck Defense UCITS ETF A (DFEN.DE). 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.

	WELT.DE	DFEN.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.52	0.56	+0.96
Sortino ratio: Return per unit of downside risk	2.31	0.97	+1.34
Omega ratio: Gain probability vs. loss probability	1.28	1.11	+0.16
Calmar ratio: Return relative to maximum drawdown	2.45	0.75	+1.70
Martin ratio: Return relative to average drawdown	9.08	1.81	+7.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WELT.DE vs. DFEN.DE - Sharpe Ratio Comparison

The current WELT.DE Sharpe Ratio is 1.52, which is higher than the DFEN.DE Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of WELT.DE and DFEN.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WELT.DE	DFEN.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	0.56	+0.96
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	1.75	-0.49

Drawdowns

WELT.DE vs. DFEN.DE - Drawdown Comparison

The maximum WELT.DE drawdown since its inception was -20.81%, which is greater than DFEN.DE's maximum drawdown of -18.60%. Use the drawdown chart below to compare losses from any high point for WELT.DE and DFEN.DE.

Drawdown Indicators

	WELT.DE	DFEN.DE	Difference
Max Drawdown Largest peak-to-trough decline	-20.81%	-18.60%	-2.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-18.60%	+9.05%
Max Drawdown (3Y) Largest decline over 3 years	-20.81%	—	—
Current Drawdown Current decline from peak	-0.14%	-15.21%	+15.07%
Average Drawdown Average peak-to-trough decline	-2.61%	-3.27%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	7.72%	-5.14%

Volatility

WELT.DE vs. DFEN.DE - Volatility Comparison

The current volatility for Amundi S&P Global Industrials ESG UCITS ETF EUR Dist (WELT.DE) is 3.88%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.38%. This indicates that WELT.DE experiences smaller price fluctuations and is considered to be less risky than DFEN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WELT.DE	DFEN.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	7.38%	-3.50%
Volatility (6M) Calculated over the trailing 6-month period	12.34%	19.16%	-6.82%
Volatility (1Y) Calculated over the trailing 1-year period	15.36%	24.79%	-9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.32%	21.47%	-6.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.32%	21.47%	-6.15%

WELT.DE vs. DFEN.DE - Expense Ratio Comparison

WELT.DE has a 0.18% expense ratio, which is lower than DFEN.DE's 0.55% expense ratio.

Dividends

WELT.DE vs. DFEN.DE - Dividend Comparison

WELT.DE's dividend yield for the trailing twelve months is around 1.12%, while DFEN.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DFEN.DE VanEck Defense UCITS ETF A	0.00%	0.00%	0.00%	0.00%
WELT.DE Amundi S&P Global Industrials ESG UCITS ETF EUR Dist	1.12%	1.29%	1.36%	1.04%

Frequently Asked Questions

Can I hold both WELT.DE and DFEN.DE in my portfolio?

WELT.DE and DFEN.DE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WELT.DE or DFEN.DE?

On fees, WELT.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WELT.DE or DFEN.DE?

WELT.DE is cheaper with a 0.18% expense ratio, compared with 0.55% for DFEN.DE.

What is the main difference between WELT.DE and DFEN.DE?

WELT.DE is categorized as Industrials Equities, while DFEN.DE is Aerospace & Defense. WELT.DE tracks S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Industrials, while DFEN.DE tracks MarketVector Global Defense Industry Index. They also come from different issuers: Amundi and VanEck. Their fees differ too: 0.18% for WELT.DE and 0.55% for DFEN.DE.