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
9.9 M
ASSETS UNDER MGMT
189 bp
EXPENSES
Fund Basics
| Fund sponsor | SRN Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 07, 2020 |
| Assets (mns) | $0 |
| Expense ratio | 189 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| CASH & OTHER | 12.6 % |
| KLA CORP | 3.9 % |
| QUANTA SERVICES INC | 3.3 % |
| NVIDIA CORP | 3.1 % |
| EXPEDITORS INTERNATIONAL OF WASHINGTON INC | 3.0 % |
| ELI LILLY & CO | 2.9 % |
| AMPHENOL CORP | 2.7 % |
| THERMO FISHER SCIENTIFIC INC | 2.6 % |
| MICROSOFT CORP | 2.6 % |
| TRAVELERS COS INC/THE | 2.6 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 9.6% | 2.1% | 6.1% | 7.0% | 3.5% | -- | -- | 5.5% |
| Dividend Yield | 0.2% | 0.2% | 0.9% | 1.3% | 0.8% | -- | -- | 0.7% |
| Total Returns | 9.8% | 2.3% | 7.1% | 8.3% | 4.3% | -- | -- | 6.2% | Ann. Volatility | 25.6% | 27.0% | 29.1% | 24.3% | 22.5% | -- | -- | 22.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.19 | 2% |
| MSCI EAFE | 0.21 | 2% |
| MSCI Emg Mkts | 0.28 | 3% |
Liquidity Measures
| Avg. volume (000) | 1 |
| ADV traded (mns) | $0 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 4.41% |
Technical Indicators
| 30d moving avg. (EMA) | $43.58 |
| Relative strength (RSI) | 52 |
| MACD/Signal | 0.02/0.03 |
| Bollinger Bands (Upper/Lower) | $44.10/$43.12 |
| Short interest (% of AUM) | 0.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Bid/Ask Spreads
441 bp
AVG SPREAD
195 —
675 bp
RANGE