AAPY vs. DFND

Last updated Jun 4, 2026

AAPY (Kurv Yield Premium Strategy Apple (AAPL) ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds. AAPY is actively managed, while DFND is passively managed. Over the past year, AAPY returned 43.66% vs 0.20% for DFND. At a 0.02 correlation, their price movements are largely independent. AAPY charges 0.99%/yr vs 1.50%/yr for DFND.

Performance

AAPY vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAPY

• 1D: -1.55%
• 1M: 13.81%
• YTD: 14.66%
• 6M: 11.04%
• 1Y: 43.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFND

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -1.09%
• 1Y: 0.20%
• 3Y*: 7.91%
• 5Y*: 4.54%
• 10Y*: 7.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPY vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	14.66%	5.04%	20.54%	9.23%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	2.63%

Correlation

The correlation between AAPY and DFND is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Oct 30, 2023	0.02

Return for Risk

AAPY vs. DFND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPY

AAPY Risk / Return Rank: 58
AAPY Sharpe Ratio Rank: 60
AAPY Sortino Ratio Rank: 58
AAPY Omega Ratio Rank: 62
AAPY Calmar Ratio Rank: 61
AAPY Martin Ratio Rank: 50

DFND

DFND Risk / Return Rank: 9
DFND Sharpe Ratio Rank: 9
DFND Sortino Ratio Rank: 8
DFND Omega Ratio Rank: 8
DFND Calmar Ratio Rank: 9
DFND Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPY vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and Siren DIVCON Dividend Defender ETF (DFND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAPY	DFND	Difference
Sharpe ratio: Return per unit of total volatility	2.05	0.02	+2.03
Sortino ratio: Return per unit of downside risk	2.80	0.11	+2.69
Omega ratio: Gain probability vs. loss probability	1.38	1.02	+0.36
Calmar ratio: Return relative to maximum drawdown	3.03	0.07	+2.96
Martin ratio: Return relative to average drawdown	8.23	0.13	+8.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPY vs. DFND - Sharpe Ratio Comparison

The current AAPY Sharpe Ratio is 2.05, which is higher than the DFND Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of AAPY and DFND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAPY	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	0.02	+2.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.21	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.36	+0.51

Drawdowns

AAPY vs. DFND - Drawdown Comparison

The maximum AAPY drawdown since its inception was -29.22%, which is greater than DFND's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for AAPY and DFND.

Drawdown Indicators

	AAPY	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-22.65%	-6.57%
Max Drawdown (1Y) Largest decline over 1 year	-14.47%	-3.44%	-11.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.65%	—
Current Drawdown Current decline from peak	-1.55%	-3.69%	+2.14%
Average Drawdown Average peak-to-trough decline	-6.34%	-5.70%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	3.70%	+1.62%

Volatility

AAPY vs. DFND - Volatility Comparison

Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) has a higher volatility of 6.18% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that AAPY's price experiences larger fluctuations and is considered to be riskier than DFND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPY	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	0.00%	+6.18%
Volatility (6M) Calculated over the trailing 6-month period	17.77%	6.16%	+11.61%
Volatility (1Y) Calculated over the trailing 1-year period	21.42%	10.92%	+10.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.58%	22.46%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.58%	19.09%	+3.49%

AAPY vs. DFND - Expense Ratio Comparison

AAPY has a 0.99% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

AAPY vs. DFND - Dividend Comparison

AAPY's dividend yield for the trailing twelve months is around 11.30%, more than DFND's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	11.30%	12.66%	17.15%	2.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFND Siren DIVCON Dividend Defender ETF	0.62%	1.10%	1.64%	1.84%	0.29%	0.00%	0.00%	0.77%	0.53%	0.02%

Frequently Asked Questions

Can I hold both AAPY and DFND in my portfolio?

AAPY and DFND have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPY or DFND?

AAPY has higher volatility (6.18%) compared to DFND (0.00%). In terms of maximum drawdown, AAPY dropped -29.22% vs DFND's -22.65%.

Which ETF is better, AAPY or DFND?

On 1-year performance, AAPY leads with 43.66% vs 0.20% for DFND. On fees, AAPY is cheaper at 0.99% per year. On volatility, DFND has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPY or DFND?

Over the 1-year period, AAPY has performed better with a 43.66% return vs 0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPY or DFND?

AAPY is cheaper with a 0.99% expense ratio, compared with 1.50% for DFND.

Which ETF pays a higher dividend yield, AAPY or DFND?

AAPY has the higher dividend yield at 11.30%, compared with 0.62% for DFND.

What is the main difference between AAPY and DFND?

They also come from different issuers: Kurv and SRN Advisors. Their fees differ too: 0.99% for AAPY and 1.50% for DFND.

Which has better risk-adjusted returns?

AAPY currently has the higher Sharpe Ratio (2.05 vs 0.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.