LEAD
Siren DIVCON Leaders Dividend ETF
LEAD tracks an index of dividend-paying US large-cap stocks that are deemed likely to increase their dividends in the next twelve months.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
52.1 M
ASSETS UNDER MGMT
43 bp
EXPENSES
Fund Basics
| Fund sponsor | SRN Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 07, 2020 |
| Assets (mns) | $52 |
| Expense ratio | 43 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
Complete list +
| CASH & OTHER | 6.4 % |
| COSTCO WHOLESALE CORP | 5.5 % |
| BROADCOM INC. | 4.2 % |
| CINTAS CORP | 3.1 % |
| VISA INC. CLASS A | 2.9 % |
| MASTERCARD INCORPORATED CLASS A | 2.8 % |
| WW GRAINGER INC | 2.7 % |
| VERISK ANALYTICS INC-CLASS A | 2.6 % |
| KLA CORPORATION | 2.5 % |
| HUBBELL INCORPORATED CLASS B | 2.4 % |
Constituent Breakdown
| Number of holdings | 57 |
| Herfindahl-Hirschman Index | 240 |
| Wgt avg mkt cap (mns) | $259,540 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 85.8 % |
 |
SWITZERLAND | 2.7 % |
 |
IRELAND | 2.6 % |
 |
BRITAIN | 2.5 % |
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 | -2.0% | 5.7% | 11.6% | 8.1% | 11.8% | -- | -- | 10.2% |
| Dividend Yield | 0.0% | 0.5% | 0.9% | 1.1% | 1.3% | -- | -- | 1.3% |
| Total Returns | -2.0% | 6.2% | 12.5% | 9.2% | 13.1% | -- | -- | 11.4% | Ann. Volatility | 25.0% | 18.4% | 15.8% | 18.6% | 18.1% | -- | -- | 22.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.04 | 92% |
| MSCI EAFE | 0.87 | 68% |
| MSCI Emg Mkts | 0.64 | 37% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $67,522 |
Technical Indicators
| Recent close | $65.13 |
| 30d moving avg. | $63.44 |
| Annualized volatility | 17.9% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.8% |
| Short interest (underlying) | 1.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. LEAD |
Expenses vs. LEAD |
ALTAR Score™ vs. LEAD |
|---|---|---|---|---|
| STXD | Strive 1000 Dividend Growth ETF | 32.2% | -8 bp | +0.7% |
| VIG | Vanguard Dividend Appreciation ETF | 29.9% | -37 bp | +1.4% |
| SPHQ | Invesco S&P 500 Quality ETF | 29.8% | -28 bp | +0.7% |
| QUAL | iShares MSCI USA Quality Factor ETF | 29.2% | -28 bp | +0.9% |
| LVOL | American Century Low Volatility ETF | 29.2% | -14 bp | +0.3% |
| PFM | Invesco Dividend Achievers ETF | 26.8% | +10 bp | +0.9% |
| BEEZ | Honeytree U.S. Equity ETF | 26.6% | +21 bp | -0.9% |
| PSET | Principal Quality ETF | 26.0% | -28 bp | +1.1% |
| OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | 25.9% | -14 bp | -0.1% |
| OUSA | ALPS O'Shares U.S. Quality Dividend ETF | 25.3% | +5 bp | +1.5% |
Risk and Returns: LEAD 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.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| 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
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 4/30/2025
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
LEAD
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
LEAD
4.8%
Cat. Avg
6.5%
ALTAR Score™ Calculation
Category Overview
There are 953 funds in the US Equity category, with an average ALTAR Score™
of 6.5% and a standard deviation of
2.7%. LEAD's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places LEAD in the 25th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
LEADSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| LEAD (43 bp) Percentile rank | 46 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| LEAD | 43.0 | 15.4 | 58.4 |
| Peer Avg. | 36.6 | 15.3 | 51.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .