# Invesco Defence Innovation UCITS ETF AccumUSD (DFNX)

**Source:** https://fundology.uk/fund/dfnx · ISIN IE000BRM9046 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## 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 30/09/2026, DFNX (Invesco Defence Innovation UCITS ETF AccumUSD, ISIN IE000BRM9046) closed at £7.19 on the London Stock Exchange. Its ongoing charge is 0.39% a year (about £39 on £10,000). Over the year to 30/09/2026 its total return was +18.4%, or +14.7% after UK CPIH inflation.

## Summary

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.

Latest close: **£7.19** (30/09/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | DFNX |
| ISIN | IE000BRM9046 |
| Category | Technology |
| Type | ETF |
| Provider | Invesco |
| Tracks | S&P Kensho Global Future Defense |
| Income | Accumulating |
| Ongoing charge | 0.39% a year (£39 per £10,000) |
| Fund size | £87.3m |
| Launched | 2024 |
| Domicile | Ireland |

## Past returns (periods to 30/09/2026)

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

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +18.38% | +14.66% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Invesco Defence Innovation UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund): 2025 +48.7%; 2026 to 30/09/2026 +13.6%. 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: +19.2%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2025 | +48.7% | +43.6% | Price |
| 2026 to 30/09/2026 | +13.6% | +10.4% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 31.13% | -17.25% |

## Largest fall

Volatility of Invesco Defence Innovation UCITS ETF AccumUSD in pounds, annualised from weekly returns to 30/09/2026: 31.1% over 1 year. Largest fall in the price of Invesco Defence Innovation UCITS ETF AccumUSD since November 2024, in pounds: −17.3% from 29/05/2026 to 11/09/2026. On 30/09/2026 the price of Invesco Defence Innovation UCITS ETF AccumUSD was 16.9% below its highest weekly close since November 2024 (29/05/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Invesco Defence Innovation UCITS ETF AccumUSD 0.39% a year, as of 01/10/2026: 86 of the 118 other technology funds charge more, 2 the same and 30 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.39%** per year
- ISA eligible: yes
- SIPP eligible: yes

## Top holdings

Largest positions (as of 30/09/2026):

| Holding | Weight |
|---|---|
| Bruker Corp USD0.01 | 2.14% |
| Rocket Lab | 1.98% |
| Kopin Corp USD0.01 | 1.94% |
| Firefly Aerosp USD 0.000100000 | 1.90% |
| Moog Inc- USD1 · Class A | 1.86% |
| Ducommun Inc USD0.01 | 1.85% |
| Mda Space Ltdcad | 1.85% |
| Saab Ab-B Sek | 1.85% |
| Iridium Communications | 1.83% |
| Teledyne Technologies Inc USD0.01 | 1.83% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed.

### By sector

As published by Invesco, as of 30/09/2026.

| Sector | Weight |
|---|---|
| Industrials | 72.5% |
| Information Technology | 18.5% |
| Health Care | 3.2% |
| Communication Services | 3.0% |
| Energy | 1.6% |
| Consumer Discretionary | 1.2% |

### By country

As published by Invesco, as of 30/09/2026.

| Country | Weight |
|---|---|
| United States | 67.7% |
| France | 9.2% |
| United Kingdom | 5.2% |
| Australia | 3.1% |
| Italy | 3.0% |
| Germany | 2.9% |
| Canada | 1.9% |
| Sweden | 1.9% |
| Other countries | 5.3% |

### By type of asset

Added up from the holdings Invesco publishes, as of 30/09/2026.

| Type of asset | Weight |
|---|---|
| Equity | 100.0% |
| Cash and money market | 0.0% |

All 68 holdings: https://fundology.uk/fund/dfnx/holdings

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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.