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THEME INDICES

STOXX Europe Targeted Defence

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Index Description

The STOXX Europe Targeted Defence Index is comprised of European companies which derive revenue from providing military equipment and services. The index component weights are based on the proportion of a company’s overall revenue in relation to these products and services.

Key facts

  • Index selection is based on Military Equipment and Services Revenue from ISS ESG maximum revenue share factor data.
  • Revenue adjusted free-float market-capitalization weighting with 15% component cap
  • The index is reviewed annually in June, with weight cap factors calculated quarterly in March, June, September and December.

Descriptive Statistics

Index Market Cap (USD bn) Components (USD bn) Component weight (%) Turnover (%)
Full Free-float Mean Median Largest Smallest Largest Smallest Last 12 monts
STOXX Europe Targeted Defence N/A 11.6 0.4 0.2 1.7 0.0 14.7 0.0 64.0
STOXX Europe AC All Cap 18,586.1 14,249.8 5.7 0.5 293.8 0.0 2.1 0.0 3.1

Supersector weighting (top 10)

Country weighting

Risk and return figures1

Index returns Return (%) Annualized return (%)
Last month YTD 1Y 3Y 5Y Last month YTD 1Y 3Y 5Y
STOXX Europe Targeted Defence -4.0 114.2 120.7 396.2 645.1 N/A N/A 123.5 71.6 50.1
STOXX Europe AC All Cap -1.4 21.6 14.5 51.1 65.0 N/A N/A 14.5 14.7 10.5
Index volatility and risk Annualized volatility (%) Annualized Sharpe ratio2
STOXX Europe Targeted Defence N/A N/A 33.6 26.2 26.2 N/A N/A 2.3 1.9 1.5
STOXX Europe AC All Cap N/A N/A 16.9 16.8 17.9 N/A N/A 0.6 0.7 0.5
Index to benchmark Correlation Tracking error (%)
STOXX Europe Targeted Defence 0.3 0.5 0.5 0.5 0.6 24.7 33.7 28.9 22.4 21.8
Index to benchmark Beta Annualized information ratio
STOXX Europe Targeted Defence 0.7 1.1 1.0 0.8 0.8 -1.2 3.0 2.4 1.8 1.4

1For information on data calculation, please refer to STOXX calculation reference guide

2Based on EURIBOR1M

(USD, Net Return), all data as of July 31, 2025

THEME INDICES

STOXX Europe Targeted Defence

Fundamentals

Index Price/earnings incl. negative Price/earnings excl. negative Price/book Dividend yield (%)3 Price/sales Price/cash flow
Trailing Projected Trailing Projected Trailing Trailing Trailing
STOXX Europe Targeted Defence 35.0 31.7 32.5 31.7 7.0 1.8 2.8 29.1
STOXX Europe AC All Cap 20.0 15.0 16.8 14.8 2.0 2.8 1.3 1.6

Performance and annual returns

Methodology

The STOXX Europe Targeted Defence index is derived from the STOXX Europe AC All Cap index. From the starting universe, a set of exclusion criteria is applied using the ISS ESG Norms Based Screening assessment and a set of definitions for Controversial Weapons. Securities are also screened for liquidity and size.
After the initial screening, the remaining companies are selected and grouped based on their Military Equipment and Services Revenue (as defined by ISS ESG):
>High Revenue Tier: Military Equipment and Services Revenue > 50%
>Medium Revenue Tier: 50% >= Military Equipment and Services Revenue > 25%
>Low Revenue Tier: 25% >= Military Equipment and Services Revenue > 10%
Index constituents are weighted based on defense-related revenue share and their market cap. Additionally, tier-based capping is also applied. The index composition is reviewed annually in June.

Versions and symbols

Index ISIN Symbol Bloomberg Reuters
Gross Return EUR CH1362050192 SWEUTDGR SWEUTDGR INDEX .SWEUTDGR
Net Return EUR CH1362050184 SWEUTDR SWEUTDR INDEX .SWEUTDR
Price EUR CH1362050176 SWEUTDP SWEUTDP INDEX .SWEUTDP
Gross Return GBP CH1362050259 SWEUTDBR .SWEUTDBR
Net Return GBP CH1362050242 SWEUTDBN .SWEUTDBN
Price GBP CH1362050234 SWEUTDBP .SWEUTDBP
Gross Return USD CH1362050226 SWEUTDGV .SWEUTDGV
Price USD CH1362050200 SWEUTDL .SWEUTDL
Net Return USD CH1362050218 SWEUTDV .SWEUTDV

Quick Facts

Weighting Price weighted
Cap Factor 0.15
No. of components Variable
Review frequency Annually
Calculation/distribution Realtime 15 sec
Calculation hours 00:00:00 22:30:00
Base value/base date 1000 as of June. 24, 2019
History Available from Jun. 24, 2019
Inception date April. 30, 2025
To learn more about the inception date, the currency, the calculation hours and historical values, please see our data vendor code sheet.

Top 10 Components4

Company Supersector Country Weight
RHEINMETALL Industrial Goods and Services Germany 1,467.877%
BAE SYSTEMS Industrial Goods and Services UK 1,393.817%
THALES Industrial Goods and Services France 1,304.221%
ROLLS ROYCE HLDG Industrial Goods and Services UK 1,254.800%
LEONARDO Industrial Goods and Services Italy 1,094.475%
SAAB B Industrial Goods and Services Sweden 910.526%
BABCOCK INTERNATIONAL Industrial Goods and Services UK 348.480%
HENSOLDT Industrial Goods and Services Germany 331.666%
RENK Industrial Goods and Services Germany 293.431%
DASSAULT AVIATION Industrial Goods and Services France 283.772%

3Net dividend yield is calculated as net return index return minus price index return

4Based on the composition as of July 31, 2025

CONTACT DETAILS

  • STOXX customer support
  • P +41 43 430 7272
  • customersupport@stoxx.com
  • https://stoxx.com/support/

DISCLAIMER

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX indices, DAX indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Börse Group or their licensors, research partners or data providers.

BACKTESTED PERFORMANCE

This document contains index performance data based on backtesting, i.e. calculations of how the index might have performed prior to launch if it had existed using the same index methodology and based on historical constituents. Backtested performance information is purely hypothetical and is provided in this document solely for information purposes. Backtested performance does not represent actual performance and should not be interpreted as an indication of actual performance.

CUSTOMIZATION

The index can be used as a basis for the definition of STOXX Customized Indices, which can be tailored to specific client or mandate needs. STOXX offers a wide range of customization, in terms of component selection, weighting schemes and personalized calculation methodologies.

CONTACT DETAILS

  • STOXX customer support
  • P +41 43 430 7272
  • customersupport@stoxx.com
  • https://stoxx.com/support/

DISCLAIMER

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX indices, DAX indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Börse Group or their licensors, research partners or data providers.

BACKTESTED PERFORMANCE

This document contains index performance data based on backtesting, i.e. calculations of how the index might have performed prior to launch if it had existed using the same index methodology and based on historical constituents. Backtested performance information is purely hypothetical and is provided in this document solely for information purposes. Backtested performance does not represent actual performance and should not be interpreted as an indication of actual performance.

CUSTOMIZATION

The index can be used as a basis for the definition of STOXX Customized Indices, which can be tailored to specific client or mandate needs. STOXX offers a wide range of customization, in terms of component selection, weighting schemes and personalized calculation methodologies.