iShares Europe Defence UCITS ETF

iShares Europe Defence UCITS ETF

About

iShares Europe Defence UCITS ETF (IE000IAXNM41) is a UCITS-compliant equity ETF tracking the STOXX Europe Targeted Defence Index. With a TER of 0.35%, it is moderately priced, reinvesting dividends. The fund holds 42 positions across 10 regions with 355M in assets, with heavy concentration — 96% in Industrials.

ISIN
Fund Size €355.5M
Issuer iShares
Distribution Re-Invests Dividends
Replication Physical
Inception May 2025
Base Currency EUR
Index STOXX Europe Targeted Defence Index
Asset Class Equities
Category European Equity

Costs

7.9
This fund has low total costs, with competitive tracking and expense ratios.

Cost Metrics Explained

What TER, tracking difference, and TD consistency measure

TER (Total Expense Ratio) is the annual fee the fund charges, deducted from assets. It’s the headline cost, but not the full picture.

Tracking Difference measures how much the fund actually lags (or leads) its benchmark index per year. This is the single best measure of true cost — it captures TER plus all other drags like sampling error and tax withholding. A lower (or negative) value is better.

TD Consistency measures how stable the tracking difference is from year to year. A low value means predictable, reliable costs; a high value means costs can vary significantly.
TER0.00%
Tracking Difference0.00%

Cumulative Returns

Performance across different time periods.
1 Month+0.00%
3 Months+0.00%
Year to Date+0.00%
1 Year+0.00%
Inception+0.00%

Holdings

2.2
With only 42 individual holdings, this fund is relatively concentrated compared to other ETFs.
#1
STOXX 600 INDUS SEP 26
26.00%
#2
Rolls-Royce Holdings PLC
16.13%
#3
BAE Systems PLC
13.90%
#4
Thales SA
12.60%
#5
Leonardo SpA
11.75%
#6
Rheinmetall AG
9.77%
#7
Saab AB
5.37%
#8
Aselsan Elektronik Sanayi Ve Ticaret AS
5.09%
#9
Babcock International Group PLC
3.39%
#10
SEK CASH
3.10%

Sectors

1.1
This fund is concentrated in just a few of its 3 sectors, reducing diversification.

Regions

4.2
This fund is concentrated in just 11 countries, with significant geographic concentration.

Nerd Stuff

Advanced risk and return metrics (2025-05-22 — 2026-06-18).
22.1%
Volatility
-20.2%
Max Drawdown
0.01
Sharpe Ratio
0.01
Sortino Ratio
0.01
Calmar Ratio
0.13
Beta
-1.24%
Alpha (Jensen's)
0.004
R²
Benchmark-relative metrics (Beta, Alpha, R²) are calculated against the iShares Core S&P 500 ETF (IE00B5BMR087).

Documents

Regulatory and fund documents.
Key Information DocumentFact Sheet

Broker Availability

Where you can buy this ETF.
flatex
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Free
Savings Plan
Free
Account
Free
Trade Republic
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€1.00
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Free
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Free
Trading 212
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Free
Savings Plan
Free
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Free

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