DFND
Siren DIVCON Dividend Defender ETF
DFND tracks an index of dividend-paying US large-cap stocks that are likely to increase dividends, while shorting those that are unlikely to do so. At rebalance, the fund is 75% long, 25% short.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
189 bp
EXPENSES
$9.2 M
ASSETS UNDER MGMT
Fund Basics
Fund sponsor | SRN Advisors |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Jan 07, 2020 |
Assets (mns) | $9 |
Expense ratio | 189 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Proprietary |
Weighting | Proprietary |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | No |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
DOMINION RESOURCES INC/VA | 11.2 % |
CENTERPOINT ENERGY INC | 11.1 % |
FORD MOTOR CO | 10.7 % |
WESTROCK CO. | 8.9 % |
FREEPORT-MCMORAN COPPER | 8.7 % |
INTERNATIONAL PAPER CO | 7.7 % |
SOUTHWEST AIRLINES CO | 7.6 % |
AT&T INC | 7.3 % |
NEWS CORP - CLASS B | 7.2 % |
INTEL CORP | 5.5 % |
Constituent Breakdown
Number of holdings | 69 |
Herfindahl-Hirschman Index | 829 |
Wgt avg mkt cap (mns) | $42,769 |
Large cap (>$10bn) | 95.7% |
Mid cap ($2-10bn) | 4.3% |
Small cap (<$2bn) | 0.0% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 100.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 6.7% | 8.8% | 10.2% | 2.5% | 6.8% | -- | 6.3% | Volatility | 26.8% | 19.8% | 21.8% | 19.4% | 20.3% | -- | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.53 | 54% |
MSCI EAFE | 0.43 | 32% |
MSCI Emg Mkts | 0.28 | 14% |
Liquidity Measures
Avg. volume (000) | 0 |
Turnover | 0.0% |
Avg. Bid/Ask (% of price) | 0.64% |
ADV of underlying (mns) | $6,124 |
Technical Indicators
Recent close | $39.95 |
30d moving avg. | $39.06 |
Annualized volatility | 13.1% |
Relative strength (RSI) | 46 |
Short interest (ETF) | 0.9% |
Short interest (underlying) | 1.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. DFND |
Expenses vs. DFND |
ALTAR Score™ vs. DFND |
---|---|---|---|---|
VLUE | iShares MSCI USA Value Factor ETF | 13.8% | -174 bp | +4.1% |
FTXR | First Trust Nasdaq Transportation ETF | 11.1% | -129 bp | -1.1% |
IYM | iShares U.S. Basic Materials ETF | 10.1% | -149 bp | +0.4% |
Risk and Returns: DFND vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DFND
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
DFND
6.5%
Cat. Avg
5.7%
Fund Category: US
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 6.5% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. DFND's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places DFND in the 62nd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DFND
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
Peer Group | Rules-Based US Equity ETFs |
# of ETFs | 609 |
Avg. Expense Ratio | 46.6 bp |
Std. Deviation | 32.9 bp |
DFND (189 bp) Percentile rank | 99 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
DFND | 189.0 | 63.8 | 252.8 |
Peer Avg. | 44.3 | 17.3 | 61.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .