ETF · Invesco
DFNX Invesco Defence Innovation UCITS ETF AccumUSD
ISIN IE000BRM9046London Stock Exchange: DFNXInvesco Ltd.
- Technology
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE£6.83
on
- Ongoing charge
- 0.39% a year
- Fund size
- £114m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, DFNX (Invesco Defence Innovation UCITS ETF AccumUSD, ISIN IE000BRM9046) closed at £6.83 on the London Stock Exchange. Its ongoing charge is 0.39% a year (about £39 on £10,000). Over the year to 13/11/2026 its total return was +11.5%, or +7.5% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +11.5%
- +7.5% after inflation (UK CPIH)
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Invesco Defence Innovation UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund): 2025 +44.5%; 2026 to 13/11/2026 +8.0%. Returns of Invesco Defence Innovation UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +12.0%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +8.0% | +4.5% | |
| to | +44.5% | +39.6% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +12.0% | +8.0% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
31.5%over 1 year
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2024
- −24.3%
- From to
- Lowest 12-month return
- +5.2%
- 12 months to
- Highest 12-month return
- +86.3%
- 12 months to
- Below its highest weekly close since November 2024
- 21.1%
- High of , latest
In words: Volatility of Invesco Defence Innovation UCITS ETF AccumUSD in pounds, annualised from weekly returns to 13/11/2026: 31.5% over 1 year. Largest fall in the price of Invesco Defence Innovation UCITS ETF AccumUSD since November 2024, in pounds: −24.3% from 29/05/2026 to 06/11/2026. The lowest 12-month return of Invesco Defence Innovation UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) since November 2024 was +5.2% (12 months to 23/10/2026); the highest was +86.3% (12 months to 29/05/2026). On 13/11/2026 the price of Invesco Defence Innovation UCITS ETF AccumUSD was 21.1% below its highest weekly close since November 2024 (29/05/2026), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.39%
- a year
- On £10,000
- £39
- a year, roughly
- Over five years
- £193
- of £10,000, before growth
- 29 charge less
- 2 the same
- 88 charge more
Ongoing charge of Invesco Defence Innovation UCITS ETF AccumUSD 0.39% a year. Compared on 14/11/2026, 88 of the 119 other technology funds charge more, 2 the same and 29 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Invesco Defence Innovation UCITS ETF AccumUSD is an exchange-traded fund (ETF) from Invesco, launched in 2024.
It tracks the S&P Kensho Global Future Defense.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.39% a year — about £39 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.
Technology: Software, chips, AI and other tech companies. One sector only, so prices can move more than a broad fund.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- DFNX
- ISIN
- IE000BRM9046
- Also listed as
- IDFN (London Stock Exchange, US dollars), IVDF (Xetra, euros)
- Provider
- Invesco
- Tracks
- S&P Kensho Global Future Defense
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.39% a year · about £39 on £10,000
- Fund size
- £114m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Technology
Price chart
Over the last year, the closing price went from £6.06 on 14/11/2025 to £6.83 on 13/11/2026 (+12.7%). The lowest close shown was £5.94 on 21/11/2025 and the highest £8.65 on 29/05/2026.
One close a week. Before 30/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
106 weekly closes, from 08/11/2024 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 68
- on record
- Ten largest
- 20.4%
- of the whole fund
- Effective number of holdings
- 63
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 2.1%
- Firefly Aerospace
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Firefly AerospaceFLY | 2.14% |
| 2 | KarmanKRMN | 2.13% |
| 3 | Lockheed MartinLMT | 2.12% |
| 4 | BrukerBRKR | 2.05% |
| 5 | Teledyne TechnologiesTDY | 2.01% |
| 6 | HeicoHEI | 2.00% |
| 7 | L3Harris TechnologiesLHX | 2.00% |
| 8 | AvioAVIO | 1.99% |
| 9 | ParsonsPSN | 1.99% |
| 10 | Northrop GrummanNOC | 1.96% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By sector
- Industrials74.8%
- Information Technology16.3%
- Communication Services3.2%
- Health Care3.1%
- Consumer Discretionary1.4%
- Energy1.3%
By country
- United States67.4%
- France9.7%
- United Kingdom5.2%
- Italy3.2%
- Germany2.7%
- Australia2.2%
- Canada1.9%
- Sweden1.9%
- Other countries5.6%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 68 largest and what changed since .
All holdings
The fund publishes 68 holdings; the ten largest make up 20.4% of it.
Create a free account to see the full holdings list
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1 year, from weekly returns in pounds.
With a free accountRolling returns
The full range of 54 rolling 12-month returns since November 2024, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since November 2024, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Rank among similar funds
Rank by total return over 1 year among up to 47 technology funds investing globally, not currency-hedged, highest first.
Pro
Pro — currently by invitation
Pro includes the rank among similar funds
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of DFNX?
The ongoing charge of DFNX is 0.39% a year — about £39 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 Invesco Defence Innovation UCITS ETF AccumUSD 0.39% a year. Compared on 14/11/2026, 88 of the 119 other technology funds charge more, 2 the same and 29 less (share classes counted once).
What does DFNX track?
DFNX tracks the S&P Kensho Global Future Defense.
Is DFNX accumulating or distributing?
DFNX 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 DFNX?
The ISIN of DFNX is IE000BRM9046. An ISIN identifies one exact share class of a fund; DFNX is its ticker on the London Stock Exchange. The same share class is also listed as IDFN (London Stock Exchange, US dollars) and IVDF (Xetra, euros).
What does DFNX hold?
As of 12/11/2026, DFNX holds 68 positions, according to its published holdings. The largest is Firefly Aerospace at 2.14% of the fund; the ten largest make up 20.4%. Its ten largest holdings are Firefly Aerospace (2.14%), Karman (2.13%), Lockheed Martin (2.12%), Bruker (2.05%), Teledyne Technologies (2.01%), Heico (2.00%), L3Harris Technologies (2.00%), Avio (1.99%), Parsons (1.99%) and Northrop Grumman (1.96%).
What were DFNX’s returns in each of the last five years?
Calendar-year returns of DFNX in pounds (price, with income reinvested in the fund): 2025 +44.5%; 2026 to 13/11/2026 +8.0%. Past performance is not a guide to future returns.
How has DFNX done after inflation?
Over the year to 13/11/2026 DFNX’s total return was +11.5%, or +7.5% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
Methodology:ReturnsCategoriesAll methods
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