Openbookopenbook
Openbook
DFNG
+5.18 · +11.35%
£50.84 · LSE
VanEck Defense ETF A USD Acc GBP | Sector Equity Industrial Materials
VanEck Asset Management B.V. · Ireland
AUM:£4.2B
#– of – in Sector Equity Industrial Materials ETFs
ℹ️
Reward Rating
37
Weak
82.70% 1Y return
ℹ️
Risk Rating
76
High
Risk Assessment
ℹ️

Educational tool only – Scores are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

📈 Up 82.7% over the past year, reflecting strong price momentum.

Cost Efficiency

Ongoing charge of 0.55% — moderate cost. Consider how fees compound over long holding periods.

What is DFNG?

VanEck Defense ETF A USD Acc GBP tracks Morningstar Global Bas Mat TME NR USD, providing diversified exposure across 36 holdings. Its ongoing charge is 0.55%.

Performance Highlights

Investment Breakdown

Strong Recent Performance
DFNG delivered 82.7% over the past year. Historical returns only — past performance is not indicative of future results.
Moderate Cost
Ongoing charge of 0.55%. Consider how fees compound over a long holding period.
Concentrated Holdings
Top 10 holdings account for 59.3% of the ETF — significant weight in a small number of names.

Openbook Analysis

Performance: Weak (37)

The scoring profile reflects subdued historical performance over the measured period. The ongoing charge of 0.55% should be considered against long-term return expectations. Risk indicators are high, reflecting meaningful price sensitivity (historical).

For informational and educational purposes only. Not financial advice. Past performance is not indicative of future results.

ETF Information
AUM£4.2B
Ongoing Charge0.55%
Dividend Yield0.00%
Holdings36
Inception DateMar 2023
DomicileIreland
Distribution–
IndexMorningstar Global Bas Mat TME NR USD
ProviderVanEck Asset Management B.V.
Beta–
CategorySector Equity Industrial Materials
CurrencyGBP
Portfolio Impact

How would DFNG affect your portfolio?

Sign in to see exactly what adding this ETF changes — sector exposure, yield, diversification, volatility. Real numbers from your actual holdings.

Sign in
Example preview
6168
+7 points · better diversified
Alternatives
Similar ETFs to compare
CSP1
iShares Core S&P 500
TER 0.07%
1Y+18.1%
AUM£78B
Yield1.3%
VUAG
Vanguard S&P 500 Acc
TER 0.07%
1Y+18.0%
AUM£12B
Yield—
SWDA
iShares MSCI World
TER 0.20%
1Y+15.4%
AUM£62B
Yield1.6%
VWRP
Vanguard FTSE All-World
TER 0.22%
1Y+14.8%
AUM£14B
Yield1.8%

Chart Tools

My Portfolio

Sign in to overlay your portfolio on the chart.

Sign in
Compare Equity
Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+11.9%
1Y
+24.4%
3Y
+188.7%
5Y
+205.8%
OpenBook InsightIf you had invested £10,000 in DFNG 5 years ago, it would have grown to £30,583 — a gain of £20,583.

Annual Returns

Calendar year performance

DFNG delivered positive returns in 4 of the last 4 calendar years.
YearDFNG
2026 YTD+7.2%
2025+54.6%
2024+44.7%
2023+22.9%
CAGR 3yr+40.1%
4/4 positive yearsAvg return: +32.3%Worst year: +7.2% (2026)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: MIXED
Trend Strength
67%
Positive
Volatility
24.6%
Moderate
Momentum
-4.9%
30-day change
Support Level
45.34
Key floor
Key Insights
  • Monitor key support and resistance levels as part of broader risk assessment.

Reward Rating Breakdown

Our reward rating analyses DFNG's attractiveness using 4 weighted factors. Each factor is scored 0-100, then combined using the weights shown below. Past performance does not guarantee future results.

Overall Reward Rating
37
Weak REWARD
Data Coverage: %
Factor Framework
Performance
Has the ETF delivered strong historical returns versus similar ETFs?
Cost Efficiency
Is the ETF cheap to own over long periods?
Income
Does it provide attractive and consistent distributions?
Diversification Quality
Does it spread exposure across holdings, sectors, and regions?

📈 Performance

Weight: 30%
46/100

Has the ETF delivered strong historical returns versus similar ETFs? Combines 1/3/5/10-year returns with the Sharpe ratio (risk-adjusted return).

1Y Return
82.70%
Very Good
3Y Return
0.00%
Weak
5Y Return
0.00%
Weak
10Y Return
0.00%
Weak
Sharpe Ratio
—
No Data

Moderate performance profile: 1-year return of 82.70%, 3-year annualised 0.00%, 5-year annualised 0.00%. Past performance is not indicative of future results.

💰 Cost Efficiency

Weight: 30%
30/100

Is the ETF cheap to own over long periods? Low ongoing charges compound into meaningful additional returns over a 10-year horizon.

Ongoing Charge
0.55%
Weak
Net Expense Ratio
—
No Data
Annual Turnover
—
No Data
Tracking Difference
—
No Data

Higher-than-average cost profile: ongoing charge of 0.55%.

💵 Income

Weight: 15%
50/100

Does the ETF provide attractive and consistent distributions? Combines the current yield with distribution frequency.

Distribution Yield
—
No Data
Distribution Frequency
—
No Data

Insufficient income data available.

🌐 Diversification Quality

Weight: 25%
35/100

Does the ETF spread exposure across many holdings, sectors, and regions? Concentrated funds can be doing exactly what they're meant to do — treat the score as context, not a verdict.

Holdings
36
Very Weak
Top 10 Concentration
59.35%
Very Weak
Top Sector
Industrials84.0%
Very Weak
Top Region
North America47.9%
Good

Heavily concentrated — returns will be driven by a narrow slice of the market: 36 holdings, top 10 at 59.3%, Industrials sector at 84.0%, North America at 47.9%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Past performance is not indicative of future results.

Risk Rating Breakdown

Our risk rating analyses DFNG using 4 weighted factors. A higher score indicates higher risk. This is a framework for understanding exposure — concentrated funds can still be doing exactly what they're meant to do.

Overall Risk Rating
76
High RISK
Data Coverage: 75%
Factor Framework
Holdings Concentration
How much of the fund sits in its largest positions? Few dominant names mean returns ride on those companies.
Market Exposure
Geographic, sector and cyclical dependencies. High single-country or single-sector weight increases macro sensitivity.
Volatility
Historical price movement, beta and drawdowns — how sharply the fund moves relative to the market.
Income Reliability
How dependable the distribution yield is — cyclical-sector dependency and unusually high yields can flag payout risk.

🎯 Holdings Concentration

Weight: 25%
55/100

How much of the fund sits in a small number of positions? If the top holdings dominate, returns will be driven by those specific companies rather than the broader index.

Top 10 Weight
59.35%
Elevated
Largest Holding
7.90%
Moderate
Number of Holdings
36
Elevated
HHI (weight²)
372
Low Risk

Moderate holdings concentration: top 10 holdings at 59.3%, largest single position at 7.90%, 36 total holdings.

🌍 Market Exposure

Weight: 25%
76/100

How dependent is the fund on a single country, sector or economic cycle? Heavy exposure to one market means a single macro event can drive most of the return.

Top Region
North America47.9%
Lower Risk
Top Sector
Industrials84.0%
High Risk
Top 2 Sectors
100.00%
High Risk
Cyclical Sectors
83.98%
High Risk

High market-exposure risk — returns closely track a narrow slice of the market: North America at 47.9%, Industrials sector at 84.0%, 84.0% in cyclical sectors.

📊 Volatility

Weight: 35%
90/100

How sharply does the fund move day-to-day and how deep have its drawdowns been? High volatility means wider return outcomes over short horizons.

1Y Volatility
26.03%
Elevated
Beta
—
No Data
Max Drawdown
—
No Data

High historical volatility — expect meaningful short-term swings: 1Y volatility of 26.03% (historical).

💵 Income Reliability

Weight: 15%
50/100

How dependable is the fund's distribution yield? Heavy cyclical-sector exposure or unusually high yields can flag vulnerability to dividend cuts in a downturn.

Current Yield
—
No Data
Cyclical Sector Exposure
83.98%
No Data
Top-Sector Dependency
Industrials84.0%
No Data

No distribution yield detected — income-reliability risk is not a material concern for this fund.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Risk scoring is model-based and past data does not guarantee future results.
openbook

Stock research for everyday UK investors. Make smarter decisions, faster.

Questions? Email us at contact@openbookanalytics.com

© 2026 Openbook Analytics Ltd · Company No. SC843579 · Registered in Scotland

256-bit encryption GDPR compliant UK data centres

Openbook Analytics Ltd (Company No. SC843579) is registered in Scotland. Registered office: Strathclyde Inspire Hub, University of Strathclyde, Graham Hills Building (Level 6), 50 Richmond Street, Glasgow, G1 1XP. Openbook Analytics is not authorised or regulated by the Financial Conduct Authority (FCA). The content on this platform is provided for general informational and educational purposes only and does not constitute financial advice, investment advice, trading advice, or any other form of advice. You should not treat any content on this platform as a recommendation to buy, sell, or hold any financial instrument. Past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up, and you may get back less than you invest. User-generated content, including community posts and commentary, reflects the personal opinions of individual users, is not verified for accuracy, and does not represent the views of Openbook Analytics Ltd. You should always conduct your own research or consult a qualified, FCA-regulated financial adviser before making investment decisions. Data displayed on this platform may be delayed or inaccurate and is provided "as is" without warranty. Openbook Analytics Ltd accepts no liability for any loss arising from reliance on the information provided.