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›ETF Issuers›iShares›DFNC

DFNC

iShares Europe Defence UCITS ETF

Passive ETF Equity Theme: Europe Defense

Not rated

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 32 underlying holdings. The dividend policy is capitalization.

€5.46

N/A

Data as of 07/30/26

1D price range

N/A

52W price range

€4.62€6.05

YTD Perf.

+8.61%

YTD Flows

Annualized volatility

Fund AuM

€366M

Share class AuM

€366M

TTM Yield

Tracking Error

Tracking Difference

Characteristics

ISIN

IE000IAXNM41

TER

0.35%

Inception date

5/23/2025

Issuer

iShares

Benchmark

STOXX Europe Targeted Defence Index

Replication method

Dividend policy

Capitalization

Compare similar ETFs

ETF Name	1w perf.
DFSV State Street SPDR S&P Europe Defense Vision UCITS ETF	+3.73%
XDEF Xtrackers Europe Defence Technologies UCITS ETF	+3.59%
D6RU Deka Europe Defense UCITS ETF	+3.86%
DEFS Amundi Stoxx Europe Defense UCITS ETF	+3.96%
GUARD BNP Paribas Easy Bloomberg Europe Defense UCITS ETF	+4.21%
WDEF WisdomTree Europe Defence UCITS ETF	+3.35%
XDEF Xtrackers Europe Defense Technologies ETF	+4.05%
WDEF WisdomTree Europe Defense Fund	+3.84%
EXH4 iShares STOXX Europe 600 Industrial Goods & Services UCITS ETF (DE)	+3.00%
ED3F Global X Europe Focused Defence Tech UCITS ETF	-0.64%
STQ State Street SPDR MSCI Europe Industrials UCITS ETF	+2.66%
ESIN iShares MSCI Europe Industrials Sector UCITS ETF	+2.66%
DXSL Xtrackers MSCI Europe Industrials UCITS ETF	+2.66%
ARMY Tema International Defense ETF	+2.23%
EXV8 iShares STOXX Europe 600 Construction & Materials UCITS ETF (DE)	+3.09%

API

PerformanceDec 30, 2025 - Jul 30, 2026

Flows

Join for free to unlock

Sector exposures

Data as of 06/30/26

Industrials

97.73%

Business Services

1.44%

Unavailable

0.23%

Other

0.58%

Latest DFNC news

European Defence ETFs Gain Up to 11% as Consolidation Accelerates

Moving Markets · July 6, 2026

European Defense Stocks Gain as Ukraine War Intensifies

Moving Markets · May 25, 2026

Trump’s $1.5tn Defense Push Ignites Global Defense ETFs

Moving Markets · January 12, 2026

FAQ about DFNC

DFNC is a Passive ETF. This ETF provides exposure to Other European Aerospace & Defense Equities.

DFNC tracks the STOXX Europe Targeted Defence Index - EUR, through a full replication replication method.

DFNC carries a total expense ratio (TER) of 0.35%, indicating the annual cost for holding the fund.

DFNC was introduced to the market on May 23, 2025. It trades on Netherlands, among other exchanges

iShares Europe Defence UCITS ETF, DFNC, is provided by iShares. Learn more about iShares here.

DFNC oversees €366M in assets as of July 30, 2026.

DFNC follows a capitalizing, meaning it reinvests income within the fund.

As of June 30, 2026, DFNC has significant geographic allocations in United Kingdom, France and Germany.

As of June 30, 2026, DFNC focuses largely on Industrials and Business Services.

As of June 30, 2026, DFNC holds 32 positions in its portfolio, with 93.77% of assets concentrated in its top 15 holdings.

As of June 30, 2026, DFNC top three holdings include Rolls-Royce Holdings Plc, BAE Systems Plc and Rheinmetall AG.

The base currency of DFNC is EUR.

Top 10 holdings

Data as of 06/30/26

Rolls-Royce Holdings Plc

17.94%

BAE Systems Plc

14.77%

Rheinmetall AG

12.59%

Thales SA

8.09%

Leonardo SpA

6.64%

Kongsberg Gruppen ASA

6.53%

Safran SA

5.56%

Saab AB

5.52%

Airbus SE

4.95%

Aselsan Elektronik Sanayi ve Ticaret AS

3.09%

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