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Exchange-traded funds: What is an ETF?</a>" data-testid="etf-profile-controls_asset-type-label"> ETF
TER
0.35% p.a.
Distribution policy
compound interest</a>.
In our article we deal with the question <a href=https://www.justetf.com/uk/"/uk/news/etf/distributing-or-accumulating-etfs-how-to-handle-investment-income.html">"Distributing or Accumulating ETFs?"</a> in detail.">
Accumulating
Replication
replication method</a> describes how the ETF tracks the index. A physically replicating ETF tracks the index by buying the securities included in the index. See also <a href=https://www.justetf.com/uk/"/uk/academy/physical-replication-of-etfs.html">physical replication</a>." data-testid="etf-profile-header_replication-tooltip">
Physical
Fund size
GBP 106 m
Inception Date
29 October 2024
Holdings
diversification of the ETF</a>.">
60
Overview
Description
The Invesco Defence Innovation UCITS ETF Acc seeks to track the S&P Kensho Global Future Defense index. The S&P Kensho Global Future Defense index tracks the performance of companies worldwide that are engaged in the military or defense industry.
Documents
Chart
Basics
Data
| Index | S&P Kensho Global Future Defense |
| Investment focus | Equity, World, Industrials |
| Fund size | GBP 106 m |
| Total expense ratio | 0.35% p.a. |
| Replication | Physical (Full replication) |
| Legal structure | ETF |
| Strategy risk | Long-only |
| Sustainability | No |
| Fund currency | USD |
| Currency risk | Currency unhedged |
| Volatility 1 year (in GBP) | 22.64% |
| Inception/ Listing Date | 29 October 2024 |
| Distribution policy | Accumulating |
| Distribution frequency | - |
| Fund domicile | Ireland |
| Fund Provider | Invesco |
| Fund Structure | Open-ended Investment Company (OEIC) |
| UCITS compliance | Yes |
| Administrator | BNY Mellon Fund Services (Ireland) Designated Activity Company |
| Investment Advisor | Invesco Capital Management LLC |
| Custodian Bank | BNY Mellon Trust Company (Ireland) Limited |
| Revision Company | PricewaterhouseCoopers |
| Fiscal Year End | 31 December |
| Swiss representative | BNP Paribas, Paris, succursale de Zurich |
| Swiss paying agent | BNP Paribas, Paris, succursale de Zurich |
| Germany | Unknown |
| Switzerland | ESTV Reporting |
| Austria | Tax Reporting Fund |
| UK | UK Reporting |
| Indextype | Total return index |
| Swap counterparty | - |
| Collateral manager | |
| Securities lending | Yes |
| Securities lending counterparty |
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Holdings
Below you find information about the composition of the Invesco Defence Innovation UCITS ETF Acc.
Top 10 Holdings
Weight of top 10 holdings
out of 60
23.30%
| Planet Labs PBC | 3.03% |
| Elbit Systems | 2.47% |
| Moog | 2.29% |
| Lockheed Martin | 2.28% |
| ELECTRO OPTIC SYSTEMS HOLDINGS ORD | 2.26% |
| Red Cat Holdings | 2.26% |
| ESCO Technologies | 2.22% |
| SAAB | 2.18% |
| Ducommun | 2.17% |
| Teledyne Technologies | 2.14% |
As of 27/02/2026
Performance
Returns overview
| YTD | +23.79% |
| 1 month | +4.22% |
| 3 months | +0.79% |
| 6 months | +26.03% |
| 1 year | +81.28% |
| 3 years | - |
| 5 years | - |
| Since inception (MAX) | +100.79% |
| 2025 | +45.41% |
| 2024 | - |
| 2023 | - |
| 2022 | - |
Monthly returns in a heat map
Risk
Risk metrics in this section:
- Volatility, annualised, measured for 1, 3 and 5 year periods. The annualised volatility reflects the degree of price fluctuations during a one year period. The higher the volatility, the more significantly the price of the asset (stock, ETF, etc.) has changed in the past. Assets with higher volatility are generally considered more risky. We calculate the volatility based on the data for the past 1, 3 and 5 years so that you can see if price fluctuations for the ETF became stronger or weaker over time.
- Return per risk for 1, 3 and 5 year periods. This is the annualised (i.e. converted to a one year period) past return divided by the past annualised volatility. The metric puts the historical return of an asset in relation to its historical risk and gives you a retrospective indication of the degree of price fluctuation you had to bear with in order to obtain the return. We calculate this parameter for 1, 3 and 5 year periods to display its evolution over time.
- Maximum drawdown for a period. This shows the worst possible loss an investor could have suffered during the respective period, by first buying and subsequently selling the asset at the least favourable prices. For example, if there was the following sequence of daily ETF prices: 10€, 5€, 12€, 20€, an investor would have suffered the worst loss by buying for 10€ and subsequently selling for 5€. Therefore in this case the maximum drawdown would be (5€ - 10€)/10€ = -50%.
Risk overview
| Volatility 1 year | 22.64% |
| Volatility 3 years | - |
| Volatility 5 years | - |
| Return per risk 1 year | 3.59 |
| Return per risk 3 years | - |
| Return per risk 5 years | - |
| Maximum drawdown 1 year | -12.48% |
| Maximum drawdown 3 years | - |
| Maximum drawdown 5 years | - |
| Maximum drawdown since inception | -15.38% |
Rolling 1 year volatility
Stock exchange
Listings
| Listing | Trade Currency | Ticker | Bloomberg / iNAV Bloomberg Code | Reuters RIC / iNAV Reuters | Market Maker |
|---|---|---|---|---|---|
| gettex | EUR | IVDF | - - | - - | - |
| Borsa Italiana | EUR | IVDF | IVDF IM IDFNINE | IVDF.MI IDFNEUiv.P | BNP Paribas |
| London Stock Exchange | GBX | DFNX | DFNX LN IDFNINS | DFNX.L IDFNGBiv.P | BNP Paribas |
| London Stock Exchange | USD | IDFN | IDFN LN IDFNIN | IDFN.L IDFNUSiv.P | BNP Paribas |
| SIX Swiss Exchange | CHF | IDFN | IDFN SW IDFNINC | IDFN.S IDFNCHiv.P | BNP Paribas |
| XETRA | EUR | IVDF | IVDF GY IDFNINE | IVDF.DE IDFNEUiv.P | BNP Paribas |
Further information
Further ETFs with similar investment focus
| Fund name | Fund Size in m € (AuM) | TER p.a. | Distribution | Replication |
|---|---|---|---|---|
| VanEck Defense UCITS ETF A | 7,667 | 0.55% p.a. | Accumulating | Full replication |
| iShares Global Aerospace & Defence UCITS ETF USD (Acc) | 1,601 | 0.35% p.a. | Accumulating | Full replication |
| Global X Defence Tech UCITS ETF USD Accumulating | 585 | 0.50% p.a. | Accumulating | Full replication |
| First Trust Indxx Global Aerospace & Defence UCITS ETF Class A Accumulation | 124 | 0.65% p.a. | Accumulating | Full replication |
| Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating Share Class | 21 | 0.40% p.a. | Accumulating | Full replication |
Latest articles
Frequently asked questions
What is the name of DFNX?
The name of DFNX is Invesco Defence Innovation UCITS ETF Acc.
What is the ticker of Invesco Defence Innovation UCITS ETF Acc?
The primary ticker of Invesco Defence Innovation UCITS ETF Acc is DFNX.
What is the ISIN of Invesco Defence Innovation UCITS ETF Acc?
The ISIN of Invesco Defence Innovation UCITS ETF Acc is IE000BRM9046.
What are the costs of Invesco Defence Innovation UCITS ETF Acc?
The total expense ratio (TER) of Invesco Defence Innovation UCITS ETF Acc amounts to 0.35% p.a.. These costs are withdrawn continuously from the fund assets and already included in the performance of the ETF. You don't have to pay them separately. Please have a look at our article for more information about the cost of ETFs.
Is Invesco Defence Innovation UCITS ETF Acc paying dividends?
Invesco Defence Innovation UCITS ETF Acc is an accumulating ETF. This means that dividends are not distributed to investors. Instead, dividends are reinvested in the fund on the ex-date, which leads to an increase of the ETF's share price.
What's the fund size of Invesco Defence Innovation UCITS ETF Acc?
The fund size of Invesco Defence Innovation UCITS ETF Acc is 106m GBP. See the following article for more information about the size of ETFs.
— Data provided by Trackinsight, etfinfo, Xignite Inc., gettex, FactSet and justETF GmbH. Quotes are either real-time (gettex) or 15 minutes delayed stock exchange quotes or NAVs (daily published by the fund provider). By default, ETF returns include dividend payments (if applicable). There is no warranty for completeness, accuracy and correctness for the displayed information.