XCS5.DE vs. DFEN.DE

Last updated Jun 5, 2026

XCS5.DE (Xtrackers MSCI India Swap UCITS ETF 1C) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - XCS5.DE is a Asia Pacific Equities fund tracking the MSCI India, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past year, XCS5.DE returned -14.48% vs 14.03% for DFEN.DE. At a 0.21 correlation, their price movements are largely independent. XCS5.DE charges 0.75%/yr vs 0.55%/yr for DFEN.DE.

Performance

XCS5.DE vs. DFEN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers MSCI India Swap UCITS ETF 1C (XCS5.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, XCS5.DE achieves a -11.32% return, which is significantly lower than DFEN.DE's 4.02% return.

XCS5.DE

• 1D: 1.17%
• 1M: -1.71%
• YTD: -11.32%
• 6M: -12.06%
• 1Y: -14.48%
• 3Y*: 2.32%
• 5Y*: 3.97%
• 10Y*: 6.41%

DFEN.DE

• 1D: 0.30%
• 1M: -3.33%
• YTD: 4.02%
• 6M: 6.91%
• 1Y: 14.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XCS5.DE vs. DFEN.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XCS5.DE Xtrackers MSCI India Swap UCITS ETF 1C	-11.32%	-10.02%	16.45%	14.94%
DFEN.DE VanEck Defense UCITS ETF A	4.02%	50.76%	51.97%	8.67%

Correlation

The correlation between XCS5.DE and DFEN.DE is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jun 20, 2023	0.21

Return for Risk

XCS5.DE vs. DFEN.DE — Risk / Return Rank

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

XCS5.DE

XCS5.DE Risk / Return Rank: 2
XCS5.DE Sharpe Ratio Rank: 2
XCS5.DE Sortino Ratio Rank: 2
XCS5.DE Omega Ratio Rank: 3
XCS5.DE Calmar Ratio Rank: 3
XCS5.DE Martin Ratio Rank: 1

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.

XCS5.DE vs. DFEN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI India Swap UCITS ETF 1C (XCS5.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.

	XCS5.DE	DFEN.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.88	0.56	-1.44
Sortino ratio: Return per unit of downside risk	-1.21	0.97	-2.18
Omega ratio: Gain probability vs. loss probability	0.87	1.11	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.72	0.75	-1.47
Martin ratio: Return relative to average drawdown	-1.49	1.81	-3.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCS5.DE vs. DFEN.DE - Sharpe Ratio Comparison

The current XCS5.DE Sharpe Ratio is -0.88, which is lower than the DFEN.DE Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of XCS5.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

	XCS5.DE	DFEN.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.88	0.56	-1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	1.75	-1.51

Drawdowns

XCS5.DE vs. DFEN.DE - Drawdown Comparison

The maximum XCS5.DE drawdown since its inception was -41.37%, 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 XCS5.DE and DFEN.DE.

Drawdown Indicators

	XCS5.DE	DFEN.DE	Difference
Max Drawdown Largest peak-to-trough decline	-41.37%	-18.60%	-22.77%
Max Drawdown (1Y) Largest decline over 1 year	-20.16%	-18.60%	-1.56%
Max Drawdown (3Y) Largest decline over 3 years	-28.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.37%	—	—
Current Drawdown Current decline from peak	-25.66%	-15.21%	-10.45%
Average Drawdown Average peak-to-trough decline	-10.00%	-3.27%	-6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.73%	7.72%	+2.01%

Volatility

XCS5.DE vs. DFEN.DE - Volatility Comparison

The current volatility for Xtrackers MSCI India Swap UCITS ETF 1C (XCS5.DE) is 5.61%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.38%. This indicates that XCS5.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

	XCS5.DE	DFEN.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	7.38%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	19.16%	-5.49%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	24.79%	-8.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	21.47%	-5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.39%	21.47%	-1.08%

XCS5.DE vs. DFEN.DE - Expense Ratio Comparison

XCS5.DE has a 0.75% expense ratio, which is higher than DFEN.DE's 0.55% expense ratio.

Dividends

XCS5.DE vs. DFEN.DE - Dividend Comparison

Neither XCS5.DE nor DFEN.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XCS5.DE and DFEN.DE in my portfolio?

XCS5.DE and DFEN.DE have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCS5.DE or DFEN.DE?

On fees, DFEN.DE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCS5.DE or DFEN.DE?

DFEN.DE is cheaper with a 0.55% expense ratio, compared with 0.75% for XCS5.DE.

What is the main difference between XCS5.DE and DFEN.DE?

XCS5.DE is categorized as Asia Pacific Equities, while DFEN.DE is Aerospace & Defense. XCS5.DE tracks MSCI India, while DFEN.DE tracks MarketVector Global Defense Industry Index. They also come from different issuers: Xtrackers and VanEck. Their fees differ too: 0.75% for XCS5.DE and 0.55% for DFEN.DE.