General Dynamics

ISIN US3695501086

WKN 851143

Market cap (in EUR)

84,163 m

Country

United States

Sector

Industrials

Dividend yield

1.69%

Overview

Quote

Description

General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment includes the production of business jets, technology aircraft, repair, support and completion services. The Marine Systems segment involves the design and building of nuclear-powered submarines, surface combatant, and auxiliary ship design and construction. The Combat Systems segment focuses on manufacturing and integrating land combat solutions, wheeled and tracked combat vehicles, weapons systems, and munitions. The Technologies segment consists of services, technologies, and products for electronic hardware with its software. The company was founded on February 21, 1952 and is headquartered in Reston, VA.

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Industrials Industrial Manufacturing Aerospace and Defense Manufacturing United States

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Financials

Key metrics

Market capitalisation, EUR	84,163 m
EPS, EUR	13.73
P/B ratio	3.7
P/E ratio	22.6
Dividend yield	1.69%

Income statement (2025)

Revenue, EUR	46,581 m
Net income, EUR	3,732 m
Profit margin	8.01%

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Capital at risk

What ETF is General Dynamics in?

There are 200 ETFs which contain General Dynamics. All of these ETFs are listed in the table below. The ETF with the largest weighting of General Dynamics is the Global X Defence Tech UCITS ETF USD Accumulating.

ETF	Weight	Investment focus	Fund size (in m EUR)
UBS MSCI USA Select Factor Mix UCITS ETF hEUR acc	0.42%	Equity United States Multi-Factor Strategy	8
iShares MSCI World Sector & Country Neutral Equal Weight UCITS ETF USD (Acc)	0.07%	Equity World Equal Weighted	20
UBS Core MSCI World UCITS ETF hCHF acc	0.09%	Equity World	966
UBS Factor MSCI USA Low Volatility UCITS ETF USD dis	0.68%	Equity United States Low Volatility/Risk Weighted	35
Xtrackers Portfolio UCITS ETF 1C	0.01%	Equity World Multi-Asset Strategy	737
Invesco MSCI World Equal Weight UCITS ETF Acc	0.07%	Equity World Equal Weighted	1,364
Amundi Core MSCI USA UCITS ETF EUR Hedged (Acc)	0.12%	Equity United States	3
UBS ETF (IE) MSCI USA UCITS ETF (USD) A-UKdis	0.12%	Equity United States	44
State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)	0.14%	Equity United States	14,958
UBS Core MSCI World UCITS ETF USD dis	0.09%	Equity World	1,843
Vanguard LifeStrategy 40% Equity UCITS ETF Distributing	0.02%	Equity World Multi-Asset Strategy	42
iShares MSCI ACWI UCITS ETF USD (Dist)	0.08%	Equity World	11
UBS MSCI USA Value UCITS ETF USD dis	0.24%	Equity United States Value	553
Amundi Core MSCI USA UCITS ETF Acc	0.12%	Equity United States	3,544
Franklin U.S. Equity UCITS ETF	0.37%	Equity United States Multi-Factor Strategy	66
First Trust Capital Strength UCITS ETF Acc	2.06%	Equity United States Fundamental/Quality	9
Fidelity US Equity Research Enhanced UCITS ETF ACC-USD	0.22%	Equity United States Social/Environmental	1,331
iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)	0.19%	Equity United States Equal Weighted	381
Scalable MSCI AC World Xtrackers UCITS ETF 1C	0.10%	Equity World	622
Xtrackers MSCI World Minimum Volatility UCITS ETF 1C	0.23%	Equity World Low Volatility/Risk Weighted	981
JPMorgan Global Equity Multi-Factor UCITS ETF USD (dist)	0.27%	Equity World Multi-Factor Strategy	0
Vanguard LifeStrategy 20% Equity UCITS ETF Distributing	0.02%	Equity World Multi-Asset Strategy	16
UBS MSCI USA ex Mega Cap UCITS ETF USD acc	0.22%	Equity United States	2
State Street SPDR MSCI All Country World UCITS ETF USD Hedged (Acc)	0.09%	Equity World	92
Invesco FTSE All-World UCITS ETF EUR PfHdg Acc	0.06%	Equity World	54
Xtrackers MSCI World UCITS ETF 1D	0.09%	Equity World	4,755
Xtrackers S&P 500 UCITS ETF 1C - EUR Hedged	0.14%	Equity United States	429
Xtrackers S&P 500 Equal Weight UCITS ETF 1D - GBP Hedged	0.19%	Equity United States Equal Weighted	269
Xtrackers S&P 500 UCITS ETF 1D - EUR Hedged	0.14%	Equity United States	55
HSBC MSCI World UCITS ETF EUR Hedged (Acc)	0.10%	Equity World	713
UBS MSCI USA Select Factor Mix UCITS ETF USD acc	0.42%	Equity United States Multi-Factor Strategy	111
Amundi MSCI USA Ex Mega Cap UCITS ETF Acc	0.31%	Equity United States	29
Vanguard LifeStrategy 40% Equity UCITS ETF Accumulating	0.02%	Equity World Multi-Asset Strategy	226
State Street SPDR S&P 500 Low Volatility UCITS ETF USD	0.95%	Equity United States Low Volatility/Risk Weighted	97
Vanguard FTSE All-World High Dividend Yield UCITS ETF Distributing	0.21%	Equity World Dividend	8,586
HSBC PLUS USA Equity Quant Active UCITS ETF USD Acc	0.38%	Equity United States Multi-Factor Strategy	88
Xtrackers MSCI World Industrials UCITS ETF 1C	0.78%	Equity World Industrials	827
HSBC PLUS World Equity Income Quant Active UCITS ETF USD Acc	0.30%	Equity World Dividend	3
UBS Core S&P 500 UCITS ETF hGBP dis	0.15%	Equity United States	65
iShares Core S&P 500 UCITS ETF USD (Dist)	0.14%	Equity United States	18,815
Xtrackers Portfolio Income UCITS ETF 1D	0.02%	Equity World Multi-Asset Strategy	59
iShares Edge MSCI World Minimum Volatility UCITS ETF USD (Acc)	0.23%	Equity World Low Volatility/Risk Weighted	2,275
Invesco S&P 500 Equal Weight UCITS ETF Acc	0.17%	Equity United States Equal Weighted	1,044
Vanguard LifeStrategy 80% Equity UCITS ETF (EUR) Accumulating	0.06%	Equity World Multi-Asset Strategy	1,118
First Trust US Large Cap Core AlphaDEX UCITS ETF Dist	0.16%	Equity United States Multi-Factor Strategy	40
Amundi Core MSCI USA UCITS ETF UCITS ETF CHF Hedged Acc	0.12%	Equity United States	1
Amundi Prime Global UCITS ETF Acc	0.08%	Equity World	2,058
Fidelity Global Value Research Enhanced UCITS ETF ACC-USD	0.38%	Equity World Value	5
UBS MSCI USA Select Factor Mix UCITS ETF USD dis	0.42%	Equity United States Multi-Factor Strategy	27
HSBC MSCI World UCITS ETF USD	0.10%	Equity World	13,192
UBS Core S&P 500 UCITS ETF hEUR acc	0.15%	Equity United States	225
L&G Global Equity UCITS ETF	0.08%	Equity World Social/Environmental	1,314
Vanguard FTSE All-World High Dividend Yield UCITS ETF Acc	0.21%	Equity World Dividend	2,369
State Street SPDR S&P U.S. Industrials Select Sector UCITS ETF USD	1.61%	Equity United States Industrials	790
UBS Core MSCI World UCITS ETF hGBP dis	0.09%	Equity World	103
Vanguard LifeStrategy 80% Equity UCITS ETF Distributing	0.06%	Equity World Multi-Asset Strategy	82
Xtrackers MSCI USA UCITS ETF 1C	0.13%	Equity United States	10,909
UBS Core MSCI World UCITS ETF hEUR acc	0.09%	Equity World	797
UBS Core MSCI USA UCITS ETF EUR Hedged dis	0.12%	Equity United States	187
Franklin FTSE Developed World UCITS ETF USD Capitalisation	0.09%	Equity World	19
First Trust Indxx Global Aerospace & Defence UCITS ETF Class A USD ACC	4.81%	Equity World Industrials Military & Defense	120
Fidelity Global Equity Research Enhanced UCITS ETF ACC-USD	0.17%	Equity World Social/Environmental	234
iShares Core MSCI World UCITS ETF GBP Hedged (Dist)	0.09%	Equity World	1,150
iShares S&P 500 Equal Weight UCITS ETF USD (Dist)	0.19%	Equity United States Equal Weighted	24
UBS Core MSCI USA UCITS ETF CHF Hedged acc	0.12%	Equity United States	581
iShares Core S&P 500 UCITS ETF EUR Hedged (Acc)	0.14%	Equity United States	86
L&G S&P 100 Equal Weight UCITS ETF USD Acc	0.87%	Equity United States Large Cap	29
Amundi Core MSCI World UCITS ETF Acc	0.09%	Equity World	13,541
iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Dist)	0.21%	Equity United States Momentum	14
UBS Core MSCI USA UCITS ETF hGBP acc	0.12%	Equity United States	46
Vanguard LifeStrategy 60% Equity UCITS ETF Accumulating	0.04%	Equity World Multi-Asset Strategy	861
Xtrackers MSCI World UCITS ETF 2D - GBP Hedged	0.09%	Equity World	459
iShares Core MSCI World UCITS ETF USD (Acc)	0.09%	Equity World	120,983
iShares Core S&P 500 UCITS ETF GBP Hedged (Dist)	0.14%	Equity United States	2,164
Xtrackers MSCI North America High Dividend Yield UCITS ETF 1C	0.59%	Equity North America Dividend	126
iShares Core S&P 500 UCITS ETF USD (Acc)	0.14%	Equity United States	127,852
BNP Paribas Easy S&P 500 II UCITS ETF USD (Acc)	0.15%	Equity United States	117
L&G US Equity UCITS ETF	0.12%	Equity United States Social/Environmental	1,297
State Street SPDR MSCI World UCITS ETF EUR Hedged (Acc)	0.09%	Equity World	767
Amundi Core MSCI World UCITS ETF EUR Hedged Acc	0.09%	Equity World	63
UBS Core MSCI USA UCITS ETF USD dis	0.12%	Equity United States	1,248
Vanguard FTSE All-World UCITS ETF (USD) Distributing	0.08%	Equity World	22,083
First Trust Value Line® Dividend Index UCITS ETF Acc	0.44%	Equity United States Dividend	8
State Street SPDR MSCI All Country World UCITS ETF USD Unhedged (Acc)	0.09%	Equity World	13,400
iShares MSCI USA UCITS ETF (Acc)	0.12%	Equity United States	4,114
iShares Global Aerospace & Defence UCITS ETF USD (Acc)	4.37%	Equity World Industrials Military & Defense	1,624
JPMorgan Global Equity Multi-Factor UCITS ETF USD (acc)	0.27%	Equity World Multi-Factor Strategy	233
UBS MSCI World ex Mega Cap UCITS ETF USD acc	0.16%	Equity World	8
Fidelity US Equity Research Enhanced UCITS ETF EUR Hedged Acc	0.22%	Equity United States Social/Environmental	104
Xtrackers MSCI World IMI UCITS ETF 1C Capitalisation	0.08%	Equity World	10
Xtrackers S&P 500 UCITS ETF 4D	0.14%	Equity United States	1
iShares Edge MSCI World Minimum Volatility UCITS ETF EUR Hedged (Acc)	0.23%	Equity World Low Volatility/Risk Weighted	158
UBS Core S&P 500 UCITS ETF USD dis	0.15%	Equity United States	1,160
Invesco Defence Innovation UCITS ETF Acc	1.17%	Equity World Industrials Military & Defense	153
UBS Core S&P 500 UCITS ETF hCHF acc	0.15%	Equity United States	670
Vanguard LifeStrategy 60% Equity UCITS ETF Distributing	0.04%	Equity World Multi-Asset Strategy	110
L&G S&P 100 UCITS ETF USD Acc	0.17%	Equity United States Large Cap	4
Xtrackers MSCI USA UCITS ETF 2C EUR Hedged	0.13%	Equity United States	595
UBS Core MSCI World UCITS ETF USD acc	0.09%	Equity World	9,057
iShares Core MSCI World UCITS ETF USD (Dist)	0.09%	Equity World	741
Xtrackers S&P 500 Equal Weight UCITS ETF 1C	0.19%	Equity United States Equal Weighted	9,397
State Street SPDR S&P U.S. Dividend Aristocrats UCITS ETF EUR Hedged (Dist)	0.70%	Equity United States Dividend	47
Invesco RAFI All-World Fundamental Value UCITS ETF	0.08%	Equity World Value	218
State Street SPDR S&P U.S. Dividend Aristocrats UCITS ETF USD Unhedged (Dist)	0.70%	Equity United States Dividend	3,169
Invesco FTSE All-World UCITS ETF GBP PfHdg Dist	0.06%	Equity World	25
UBS MSCI USA NSL UCITS ETF USD acc	0.13%	Equity United States	2,969
UBS Factor MSCI USA Low Volatility UCITS ETF hEUR acc	0.68%	Equity United States Low Volatility/Risk Weighted	4
BNP Paribas Easy MSCI World UCITS ETF USD Acc	0.09%	Equity World	77
Amundi Prime All Country World UCITS ETF Acc	0.07%	Equity World	1,926
UBS MSCI World UCITS ETF USD dis	0.09%	Equity World	1,422
Xtrackers MSCI USA Minimum Volatility UCITS ETF 1D	0.07%	Equity United States Low Volatility/Risk Weighted	4
Vanguard FTSE Developed World UCITS ETF Acc	0.09%	Equity World	5,450
iShares S&P 500 3% Capped UCITS ETF USD (Acc)	0.17%	Equity United States	181
HSBC Multi-Factor Worldwide Equity UCITS ETF USD	0.70%	Equity World Multi-Factor Strategy	942
Xtrackers S&P 500 Equal Weight UCITS ETF 2D	0.19%	Equity United States Equal Weighted	473
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)	0.06%	Equity World	5,752
iShares Edge S&P 500 Minimum Volatility UCITS ETF EUR Hedged (Acc)	0.64%	Equity United States Low Volatility/Risk Weighted	29
State Street SPDR S&P 500 UCITS ETF GBP Hedged (Dist)	0.14%	Equity United States	298
State Street SPDR S&P 500 UCITS ETF USD Unhedged (Dist)	0.14%	Equity United States	17,866
iShares S&P 500 3% Capped UCITS ETF EUR Hedged Acc	0.17%	Equity United States	31
State Street SPDR MSCI World UCITS ETF USD Unhedged	0.09%	Equity World	16,356
iShares S&P 500 Equal Weight UCITS ETF EUR Hedged (Acc)	0.19%	Equity United States Equal Weighted	226
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Dist)	0.06%	Equity World	133
Vanguard FTSE Developed World UCITS ETF Distributing	0.09%	Equity World	3,970
Invesco RAFI US Fundamental Value UCITS ETF Dist	0.17%	Equity United States Value	820
Vanguard FTSE North America UCITS ETF (USD) Accumulating	0.13%	Equity North America	2,616
HSBC S&P 500 UCITS ETF USD	0.14%	Equity United States	8,250
Xtrackers S&P 500 Equal Weight UCITS ETF 3C - CHF Hedged	0.19%	Equity United States Equal Weighted	65
HANetf Future of Defence UCITS ETF	4.79%	Equity World Military & Defense	2,783
Xtrackers S&P 500 Equal Weight UCITS ETF 2C EUR Hedged	0.19%	Equity United States Equal Weighted	1,261
UBS Core MSCI USA UCITS ETF EUR Hedged acc	0.12%	Equity United States	679
Xtrackers MSCI World UCITS ETF 2C - EUR Hedged	0.09%	Equity World	409
State Street SPDR MSCI World UCITS ETF GBP Hedged (Dist)	0.09%	Equity World	306
BNP Paribas Easy MSCI World UCITS ETF EUR Acc	0.09%	Equity World	154
Invesco FTSE All-World UCITS ETF Acc	0.06%	Equity World	3,292
Vanguard S&P 500 UCITS ETF (USD) Accumulating	0.14%	Equity United States	28,352
UBS Core MSCI USA UCITS ETF USD acc	0.12%	Equity United States	2,612
State Street SPDR MSCI World Industrials UCITS ETF USD	0.78%	Equity World Industrials	188
Invesco S&P 500 Equal Weight UCITS ETF Dist	0.17%	Equity United States Equal Weighted	335
HSBC MSCI World UCITS ETF CHF hedged	0.10%	Equity World	83
Amundi Core MSCI World UCITS ETF USD Dist	0.09%	Equity World	1,533
Amundi Core MSCI USA UCITS ETF Dist	0.12%	Equity United States	1,041
BNP Paribas Easy MSCI USA UCITS ETF EUR Acc	0.12%	Equity United States	17
Amundi Core S&P 500 UCITS ETF UCITS ETF Acc	0.13%	Equity United States	21
BNP Paribas Easy MSCI USA UCITS ETF USD Acc	0.12%	Equity United States	17
iShares Russell 1000 Value UCITS ETF USD (Acc)	0.26%	Equity United States Value	503
Vanguard FTSE North America UCITS ETF (USD) Distributing	0.13%	Equity North America	2,844
Xtrackers S&P 500 UCITS ETF 4C	0.14%	Equity United States	1,308
Xtrackers MSCI USA Industrials UCITS ETF 1D	1.40%	Equity United States Industrials	267
iShares Edge MSCI World Minimum Volatility UCITS ETF GBP hedged (Acc)	0.23%	Equity World Low Volatility/Risk Weighted	58
iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc)	0.64%	Equity United States Low Volatility/Risk Weighted	1,415
iShares MSCI World UCITS ETF (Dist)	0.09%	Equity World	8,012
Invesco S&P 500 QVM UCITS ETF	0.68%	Equity United States Multi-Factor Strategy	63
iShares Core MSCI World UCITS ETF EUR Hedged (Dist)	0.09%	Equity World	1,745
iShares S&P 500 GBP Hedged UCITS ETF (Acc)	0.14%	Equity United States	1,348
State Street SPDR S&P 500 UCITS ETF EUR Hedged	0.14%	Equity United States	2,437
iShares S&P 500 EUR Hedged UCITS ETF (Acc)	0.14%	Equity United States	8,556
Vanguard FTSE All-World UCITS ETF (USD) Accumulating	0.08%	Equity World	41,124
HSBC MSCI World UCITS ETF USD (Acc)	0.10%	Equity World	1,851
Xtrackers MSCI USA UCITS ETF 1D	0.13%	Equity United States	274
iShares MSCI North America UCITS ETF	0.12%	Equity North America	1,210
Global X Defence Tech UCITS ETF USD Accumulating	7.59%	Equity World Industrials Military & Defense	511
BNP Paribas Easy S&P 500 II UCITS ETF USD (Dist)	0.15%	Equity United States	87
Xtrackers MSCI World UCITS ETF 3C - CHF Hedged	0.09%	Equity World	49
JPMorgan BetaBuilders US Equity UCITS ETF USD (dist)	0.13%	Equity United States	3
UBS Core MSCI World UCITS ETF hGBP acc	0.09%	Equity World	54
iShares MSCI ACWI UCITS ETF USD (Acc)	0.08%	Equity World	28,661
HSBC S&P 500 UCITS ETF USD (Acc)	0.14%	Equity United States	629
iShares S&P 500 Industrials Sector UCITS ETF	1.60%	Equity United States Industrials	621
HSBC PLUS World Equity Quant Active UCITS ETF USD Acc	0.40%	Equity World Multi-Factor Strategy	561
UBS MSCI USA Select Factor Mix UCITS ETF hCHF acc	0.42%	Equity United States Multi-Factor Strategy	31
Vanguard S&P 500 UCITS ETF (USD) Distributing	0.14%	Equity United States	44,679
State Street SPDR MSCI All Country World UCITS ETF EUR Hedged (Acc)	0.09%	Equity World	1,560
iShares S&P 500 Equal Weight UCITS ETF USD (Acc)	0.19%	Equity United States Equal Weighted	3,897
iShares MSCI World EUR Hedged UCITS ETF (Acc)	0.09%	Equity World	5,223
Xtrackers FTSE All-World UCITS ETF 1C	0.08%	Equity World	21
Invesco FTSE All-World UCITS ETF Dist	0.06%	Equity World	249
Goldman Sachs MSCI World Private Equity Return Tracker UCITS ETF USD (Acc)	2.04%	Equity World Private Equity	10
iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)	0.64%	Equity United States Low Volatility/Risk Weighted	125
JPMorgan BetaBuilders US Equity UCITS ETF USD (acc)	0.13%	Equity United States	77
Vanguard LifeStrategy 20% Equity UCITS ETF Accumulating	0.02%	Equity World Multi-Asset Strategy	98
First Trust US Large Cap Core AlphaDEX UCITS ETF Acc	0.16%	Equity United States Multi-Factor Strategy	118
HSBC PLUS World Equity Income Quant Active UCITS ETF USD Dist	0.30%	Equity World Dividend	122
Xtrackers S&P 500 UCITS ETF 3C CHF hedged	0.14%	Equity United States	66
Invesco S&P 500 Low Volatility UCITS ETF Acc	0.87%	Equity United States Low Volatility/Risk Weighted	117
Amundi Prime Global UCITS ETF Dist	0.08%	Equity World	1,522
Xtrackers MSCI World UCITS ETF 1C	0.09%	Equity World	18,957
iShares MSCI World GBP Hedged UCITS ETF (Acc)	0.09%	Equity World	531
iShares S&P 500 3% Capped UCITS ETF USD (Dist)	0.17%	Equity United States	1
UBS Core S&P 500 UCITS ETF USD acc	0.15%	Equity United States	1,597
Amundi Prime All Country World UCITS ETF Dist	0.07%	Equity World	4,223
iShares Edge MSCI USA Momentum Factor UCITS ETF	0.21%	Equity United States Momentum	526
HSBC Multi Factor Worldwide Equity UCITS ETF USD (Acc)	0.70%	Equity World Multi-Factor Strategy	4
Xtrackers MSCI USA UCITS ETF 3C CHF Hedged	0.13%	Equity United States	344
Invesco FTSE All-World UCITS ETF CHF PfHdg Acc	0.06%	Equity World	59
iShares Edge MSCI World Minimum Volatility UCITS ETF USD (Dist)	0.23%	Equity World Low Volatility/Risk Weighted	11
Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged	0.14%	Equity United States	646
Fidelity US Value Research Enhanced UCITS ETF ACC-USD	0.48%	Equity United States Value	3
HSBC S&P 500 UCITS ETF CHF Hedged (Acc)	0.14%	Equity United States	12
UBS MSCI USA UCITS ETF USD dis	0.13%	Equity United States	489

Performance

Returns overview

YTD	+5.91%
1 month	+6.01%
3 months	+1.48%
6 months	+4.69%
1 year	+31.32%
3 years	+57.52%
5 years	+97.07%
Since inception (MAX)	+184.85%
2025	+20.04%
2024	+3.76%
2023	-1.49%
2022	+33.94%

Monthly returns in a heat map

Risk

Risk metrics in this section:

Volatility, annualised, measured for 1, 3 and 5 year periods. The annualised volatility reflects the degree of price fluctuations during a one year period. The higher the volatility, the more significantly the price of the asset (stock, ETF, etc.) has changed in the past. Assets with higher volatility are generally considered more risky. We calculate the volatility based on the data for the past 1, 3 and 5 years so that you can see if price fluctuations for the ETF became stronger or weaker over time.
Return per risk for 1, 3 and 5 year periods. This is the annualised (i.e. converted to a one year period) past return divided by the past annualised volatility. The metric puts the historical return of an asset in relation to its historical risk and gives you a retrospective indication of the degree of price fluctuation you had to bear with in order to obtain the return. We calculate this parameter for 1, 3 and 5 year periods to display its evolution over time.
Maximum drawdown for a period. This shows the worst possible loss an investor could have suffered during the respective period, by first buying and subsequently selling the asset at the least favourable prices. For example, if there was the following sequence of daily ETF prices: 10€, 5€, 12€, 20€, an investor would have suffered the worst loss by buying for 10€ and subsequently selling for 5€. Therefore in this case the maximum drawdown would be (5€ - 10€)/10€ = -50%.

ETF returns include dividend payments (if applicable).