# State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR (DEFV)

**Page:** https://fundology.uk/fund/defv · ISIN IE0008GRJRO8

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, DEFV (State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR, ISIN IE0008GRJRO8) closed at $10.53 on the London Stock Exchange. Its ongoing charge is 0.22% a year (about £22 on £10,000). Over the year to 13/11/2026 its total return was −8.1%, or −11.3% after UK CPIH inflation.

## Summary

State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR is an exchange-traded fund (ETF) from SPDR, launched in 2025. It tracks the S&P Europe Defense Vision Index - EUR - Benchmark TR Net. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.22% a year — about £22 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **$10.53** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | DEFV |
| ISIN | IE0008GRJRO8 |
| Also listed as | DFSV (Xetra, euros) |
| Category | Single sectors |
| Type | ETF |
| Provider | SPDR |
| Tracks | S&P Europe Defense Vision Index - EUR - Benchmark TR Net |
| Income | Accumulating |
| Ongoing charge | 0.22% a year (£22 per £10,000) |
| Fund size | £23.4m |
| Launched | 2025 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 03/06/2025 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -8.05% | -11.31% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −9.8%. Returns of State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −12.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2026 to 13/11/2026 | -9.8% | -12.6% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 37.11% | -21.81% |

## Largest fall

Volatility of State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR in pounds, annualised from weekly returns to 13/11/2026: 37.1% over 1 year. Largest fall in the price of State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR since June 2025, in pounds: −21.8% from 20/02/2026 to 06/11/2026. On 13/11/2026 the price of State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR was 21.0% below its highest weekly close since June 2025 (20/02/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR 0.22% a year. Compared on 14/11/2026, 100 of the 164 other single-sector funds charge more, 0 the same and 64 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.22%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 05/11/2026, DEFV holds 30 positions, according to its published holdings. The largest is BAE Systems at 15.41% of the fund; the ten largest make up 84.3%.

### Top holdings

Largest positions (as of 05/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | BAE Systems | [BA.](https://fundology.uk/stock/BA.) | 15.41% |
| 2 | Rheinmetall | [RHM](https://fundology.uk/stock/RHM) | 13.36% |
| 3 | Saab · Class B | [SAAB_B](https://fundology.uk/stock/SAAB_B) | 11.02% |
| 4 | Leonardo | [LDO](https://fundology.uk/stock/LDO) | 9.24% |
| 5 | Thales | [HO](https://fundology.uk/stock/HO) | 9.20% |
| 6 | Safran | [SAF](https://fundology.uk/stock/SAF) | 7.31% |
| 7 | Rolls-Royce | [RR.](https://fundology.uk/stock/RR.) | 7.04% |
| 8 | Kongsberg Gruppen | [KOG](https://fundology.uk/stock/KOG) | 6.61% |
| 9 | Babcock International Group | [BAB](https://fundology.uk/stock/BAB) | 2.78% |
| 10 | Hensoldt | [HAG](https://fundology.uk/stock/HAG) | 2.29% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

Added up from the fund’s published holdings, as of 05/11/2026.

| Sector | Weight |
|---|---|
| Industrials | 98.5% |
| Information Technology | 1.4% |
| Communication Services | 0.1% |

### By country

Added up from the fund’s published holdings, as of 05/11/2026.

| Country | Weight |
|---|---|
| United Kingdom | 31.1% |
| France | 19.6% |
| Germany | 18.4% |
| Sweden | 12.0% |
| Italy | 9.5% |
| Norway | 7.0% |
| Netherlands | 1.3% |
| Spain | 0.9% |
| Other countries | 0.4% |

All 30 holdings: https://fundology.uk/fund/defv/holdings

## Questions people ask

**What is the ongoing charge of DEFV?**

The ongoing charge of DEFV is 0.22% a year — about £22 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of State Street SPDR S&P Europe Defense Vision UCITS ETF Accum EUR 0.22% a year. Compared on 14/11/2026, 100 of the 164 other single-sector funds charge more, 0 the same and 64 less (share classes counted once).

**What does DEFV track?**

DEFV tracks the S&P Europe Defense Vision Index - EUR - Benchmark TR Net.

**Is DEFV accumulating or distributing?**

DEFV is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of DEFV?**

The ISIN of DEFV is IE0008GRJRO8. An ISIN identifies one exact share class of a fund; DEFV is its ticker on the London Stock Exchange. The same share class is also listed as DFSV (Xetra, euros).

**What does DEFV hold?**

As of 05/11/2026, DEFV holds 30 positions, according to its published holdings. The largest is BAE Systems at 15.41% of the fund; the ten largest make up 84.3%. Its ten largest holdings are BAE Systems (15.41%), Rheinmetall (13.36%), Saab · Class B (11.02%), Leonardo (9.24%), Thales (9.20%), Safran (7.31%), Rolls-Royce (7.04%), Kongsberg Gruppen (6.61%), Babcock International Group (2.78%) and Hensoldt (2.29%).

**What were DEFV’s returns in each of the last five years?**

Calendar-year returns of DEFV in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −9.8%. Past performance is not a guide to future returns.

**How has DEFV done after inflation?**

Over the year to 13/11/2026 DEFV’s total return was −8.1%, or −11.3% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at State Street Global Advisors](https://www.ssga.com/uk/en_gb/intermediary/etfs/state-street-spdr-sp-europe-defense-vision-ucits-etf-acc-dfsv-gy)
- [Key investor information document (KIID)](https://www.ssga.com/library-content/kiids?isin=IE0008GRJRO8&documentType=kiid&country=uk&language=en_gb&ticker=dfsv-gy)
- [Factsheet](https://www.ssga.com/library-content/products/factsheets/etfs/emea/factsheet-emea-en_gb-dfsv-gy.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.