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DFNC ETF · iShares Europe Defence UCITS ETF
The DFNC Exchange Traded Fund (ETF) is provided by iShares. It is built to track an index: STOXX Europe Targeted Defence Index. The DFNC ETF provides physical exposure, so by buying it you actually own parts of all the 26 underlying holdings. The dividend policy is capitalization.
Real-time data unavailable for DFNC
LIVE
CLOSED
This fund is part ofEurope Industrials1M perf.-2.20%
Last price
N/A
1M perf.
+6.47%
1M flows
+€52M
AuM
€333M
E/R
0.35%
Rating
Not rated
ESG Consensus®
DFNC
N/A
Performance & flows
Segment for quartile rank
December 10, 2025 → March 10, 2026
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DFNC
€5.95
+20.22%
Europe Industrials
+11.58%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | +6.47%  | +20.22% | N/A | N/A | N/A | +2.90% | +18.39% | +18.39% | |
| Flows |
Key fund info
Segment for quartile rank
Main characteristics
More details
NAV
3/10/2026
€5.95
1D NAV change
+1.59%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
26
Inception date
5/23/2025
Jurisdiction
Ireland
Distribution
Sweden
France
Germany
Saudi Arabia (Qualified Investor)
Denmark
Legal structure
Open-end Investment Company
Base currency
EUR
Classification
Investment strategy
The fund aims to achieve a total return, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the STOXX Europe Targeted Defence Index, the Fund’s benchmark index (“Index”).
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
Market news & analysis about DFNC
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Enterprise
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Learn more about Trackinsight EnterpriseLatest headlines about DFNC
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Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +20.22% | N/A | N/A | N/A |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
Built for professionals: access exclusive risk metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseExposure
Countries
United Kingdom
33.14%
Germany
18.13%
France
17.78%
Italy
11.56%
Sweden
11.43%
Turkey
3.70%
Netherlands
2.34%
Norway
1.35%
Unavailable
0.25%
Other
0.33%
Sectors
Industrials
84.85%
Unavailable
15.02%
Other
0.13%
Diversification
Total weight of top 15 holdings out of 26
Top 15 holdings
Data as of January 31, 2026
BAE SYSTEMS
RHEINMETALL
THALES
ROLLS-ROYCE HOLDINGS
LEONARDO SPA
SE0021921269
BABCOCK INTL
ASELSAN ELEKTRONIK
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DASSAULT AVIATI
HENSOLDT AG
AIRBUS SE
SAFRAN
DE000RENK730
QINETIQ GRP
NO0013536151
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Built for professionals: access exclusive exposure metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseSustainability
Integrates ESG criteria
No
SDG
ESG Consensus® by Conser
Data as of December 31, 2025
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about DFNC ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
DFNC’s has a Final Sustainability Grade of either C+, C, C-, or D.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
21.44% of holdings have positive scoring
78.81% of holdings have negative scoring
20.81%
5.56%
27.52%
45.72%
Consensus levels
Strong
Medium
Weak
Built for professionals: access exclusive sustainability metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseReplication
Trackinsight replication rating:
Not rated
Replication quality
Calculated over 12m, as of February 27, 2026
Tracking error
Tracking difference
Replication information
Index
STOXX Europe Targeted Defence Index - EUR
Index ticker
SWEUTDR Index
Index dividend policy
NTR
Replication method
Replication model
Built for professionals: access exclusive replication metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
iShares
iShares ID Card
Number of funds
1718
Total AuM
€4.97T
Expense ratio range
0.03% - 1.51%
Average expense ratio
0.285%
Top 5 funds by iShares
| AuM | ||
|---|---|---|
IVV | iShares Core S&P 500 ETF | €631.44B |
IEFA | iShares Core MSCI EAFE ETF | €148.92B |
IEMG | iShares Core MSCI Emerging Markets ETF | €120.87B |
AGG | iShares Core U.S. Aggregate Bond ETF | €120.57B |
CSSPX | iShares Core S&P 500 UCITS ETF | €113.95B |
Frequently asked questions about DFNC
What does iShares Europe Defence UCITS ETF, DFNC, invest in?
DFNC is a Passive ETF. This ETF provides exposure to Other European Aerospace & Defense Equities.
Which benchmark or index does DFNC replicate?
DFNC tracks the STOXX Europe Targeted Defence Index - EUR, through a full replication replication method.
What is the Total Expense ratio (TER) of DFNC?
DFNC carries a total expense ratio (TER) of 0.35%, indicating the annual cost for holding the fund.
When was DFNC launched?
DFNC was introduced to the market on May 23, 2025. It trades on Sweden, among other exchanges
Who is the ETF issuer of DFNC?
iShares Europe Defence UCITS ETF, DFNC, is provided by iShares. Learn more about iShares here.
What is the current assets under management (AUM) of DFNC?
DFNC oversees €333M in assets as of March 10, 2026.
How has DFNC performed lately?
Based on data from March 10, 2026, DFNC returned 6.47% over the past month, 20.22% over the last three months and 18.39% year-to-date.
What are the latest inflows or outflows for DFNC?
As of March 10, 2026, DFNC recorded net flows of +€52M over the last month and +€175M year-to-date.
Does DFNC distribute dividends?
DFNC follows a capitalizing, meaning it reinvests income within the fund.
What are the main country or region exposures of DFNC?
As of January 31, 2026, DFNC has significant geographic allocations in United Kingdom, Germany and France.
In which sector or theme does DFNC invest in?
As of January 31, 2026, DFNC focuses largely on Industrials.
How many securities does DFNC hold and how diversified is it?
As of January 31, 2026, DFNC holds 26 positions in its portfolio, with 97.55% of assets concentrated in its top 15 holdings.
What are the main positions in DFNC?
As of January 31, 2026, DFNC top three holdings include BAE SYSTEMS, RHEINMETALL and THALES.
What is the base currency of DFNC?
The base currency of DFNC is EUR.
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