XLKQ.L vs. DFNG.L
XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) and DFNG.L (VanEck Defense ETF A USD Acc GBP) are both exchange-traded funds - XLKQ.L is a Technology Equities fund tracking the S&P Select Sector Capped 20% Technology Index, while DFNG.L is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry index. Both are passively managed. Over the past 3 years, XLKQ.L returned 30.77%/yr vs 37.60%/yr for DFNG.L. At a 0.40 correlation, their price movements are largely independent. XLKQ.L charges 0.14%/yr vs 0.55%/yr for DFNG.L.
Performance
XLKQ.L vs. DFNG.L - Performance Comparison
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Different Trading Currencies
XLKQ.L is traded in GBp, while DFNG.L is traded in GBP. To make them comparable, the DFNG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, XLKQ.L achieves a 18.20% return, which is significantly higher than DFNG.L's 1.28% return.
XLKQ.L
- 1D
- 2.39%
- 1M
- 0.14%
- YTD
- 18.20%
- 6M
- 18.52%
- 1Y
- 46.40%
- 3Y*
- 30.77%
- 5Y*
- 25.01%
- 10Y*
- 26.55%
DFNG.L
- 1D
- 0.00%
- 1M
- -0.58%
- YTD
- 1.28%
- 6M
- 2.03%
- 1Y
- 12.40%
- 3Y*
- 37.60%
- 5Y*
- —
- 10Y*
- —
XLKQ.L vs. DFNG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc | 18.20% | 15.76% | 44.03% | 29.54% |
DFNG.L VanEck Defense ETF A USD Acc GBP | 1.28% | 56.54% | 46.20% | -1.18% |
Correlation
The correlation between XLKQ.L and DFNG.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023 | 0.40 |
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Return for Risk
XLKQ.L vs. DFNG.L — Risk / Return Rank
XLKQ.L
DFNG.L
XLKQ.L vs. DFNG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.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.
| XLKQ.L | DFNG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.12 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 0.74 | +1.94 |
| Martin ratioReturn relative to average drawdown | 6.86 | 1.83 | +5.03 |
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Drawdowns
XLKQ.L vs. DFNG.L - Drawdown Comparison
The maximum XLKQ.L drawdown since its inception was -38.43%, 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 XLKQ.L and DFNG.L.
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Drawdown Indicators
| XLKQ.L | DFNG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.43% | -22.59% | -15.84% |
Max Drawdown (1Y)Largest decline over 1 year | -16.76% | -19.68% | +2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -28.74% | -19.68% | -9.06% |
Max Drawdown (5Y)Largest decline over 5 years | -28.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.74% | — | — |
Current DrawdownCurrent decline from peak | -7.23% | -17.26% | +10.03% |
Average DrawdownAverage peak-to-trough decline | -8.07% | -4.98% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.57% | 7.94% | -1.37% |
Volatility
XLKQ.L vs. DFNG.L - Volatility Comparison
Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) and VanEck Defense ETF A USD Acc GBP (DFNG.L) have volatilities of 8.58% and 8.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLKQ.L | DFNG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 8.19% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 15.29% | 19.02% | -3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.96% | 24.56% | -4.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.22% | 23.38% | +2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.42% | 23.38% | +0.04% |
XLKQ.L vs. DFNG.L - Expense Ratio Comparison
XLKQ.L has a 0.14% expense ratio, which is lower than DFNG.L's 0.55% expense ratio.
Dividends
XLKQ.L vs. DFNG.L - Dividend Comparison
Neither XLKQ.L nor DFNG.L has paid dividends to shareholders.
Frequently Asked Questions
XLKQ.L and DFNG.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLKQ.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLKQ.L is cheaper with a 0.14% expense ratio, compared with 0.55% for DFNG.L.
XLKQ.L is categorized as Technology Equities, while DFNG.L is Aerospace & Defense. XLKQ.L tracks S&P Select Sector Capped 20% Technology Index, while DFNG.L tracks MarketVector Global Defense Industry index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.14% for XLKQ.L and 0.55% for DFNG.L.
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