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
9.7 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) | $10 |
| 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 | 45.4 % |
| SBA COMMUNICATIONS CORP | 2.7 % |
| TEXAS PACIFIC LAND CORP | 2.6 % |
| ECOLAB INC | 2.6 % |
| VISA INC | 2.6 % |
| TRAVELERS COS INC/THE | 2.6 % |
| S&P GLOBAL INC | 2.5 % |
| RESMED INC | 2.4 % |
| INTUIT INC | 2.4 % |
| MICROSOFT CORP | 2.4 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 4.8% | 5.0% | 9.4% | 5.4% | 4.8% | -- | -- | 5.2% |
| Dividend Yield | 0.0% | 0.8% | 1.5% | 1.3% | 0.8% | -- | -- | 0.8% |
| Total Returns | 4.8% | 5.7% | 10.8% | 6.7% | 5.6% | -- | -- | 6.0% | Ann. Volatility | 35.2% | 34.3% | 27.6% | 26.5% | 21.9% | -- | -- | 22.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.50 | 33% |
| MSCI EAFE | 0.39 | 21% |
| MSCI Emg Mkts | 0.37 | 19% |
Liquidity Measures
| Avg. volume (000) | 2 |
| ADV traded (mns) | $0 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.64% |
Technical Indicators
| Recent close | $42.10 |
| 30d moving avg. | $40.74 |
| Annualized volatility | 14.2% |
| Relative strength (RSI) | 51 |
| Short interest | 0.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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. | 49.0 | 20.2 | 69.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .