ACEP vs. DFND

Last updated Jun 25, 2026

ACEP (ARS Core Equity Portfolio ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds. ACEP is actively managed, while DFND is passively managed. At a correlation of -0.02, they often move in opposite directions. ACEP charges 0.45%/yr vs 1.50%/yr for DFND.

Performance

ACEP vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARS Core Equity Portfolio ETF (ACEP) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ACEP

• 1D: -1.13%
• 1M: -0.03%
• YTD: 20.25%
• 6M: 18.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFND

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -0.25%
• 3Y*: 8.10%
• 5Y*: 4.54%
• 10Y*: 7.15%

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

ACEP vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025
ACEP ARS Core Equity Portfolio ETF	20.25%	8.00%
DFND Siren DIVCON Dividend Defender ETF	0.00%	-1.00%

Correlation

The correlation between ACEP and DFND is -0.02, 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 (All Time) Calculated using the full available price history since Nov 21, 2025	-0.02

ACEP vs. DFND - Sectors Allocation Comparison

Sectors	ACEP	DFND
Technology	34.9%	24.8%
Financial Services	14.2%	18.2%
Basic Materials	12.5%	4.3%
Energy	12.2%	1.7%
Industrials	10.7%	17.1%
Healthcare	7.2%	10.7%
Consumer Cyclical	2.9%	3.5%
Consumer Defensive	2.2%	4.2%
Real Estate	2.0%	2.0%
Communication Services	1.2%	0.8%
Utilities	-	-

Return for Risk

ACEP vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARS Core Equity Portfolio ETF (ACEP) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ACEP	DFND	Difference
Sharpe ratio: Return per unit of total volatility	—	0.19	—
Sortino ratio: Return per unit of downside risk	—	0.35	—
Omega ratio: Gain probability vs. loss probability	—	1.05	—
Calmar ratio: Return relative to maximum drawdown	—	0.60	—
Martin ratio: Return relative to average drawdown	—	1.08	—

Drawdowns

ACEP vs. DFND - Drawdown Comparison

The maximum ACEP drawdown since its inception was -7.06%, smaller than the maximum DFND drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for ACEP and DFND.

Drawdown Indicators

	ACEP	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-7.06%	-22.65%	+15.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.44%	—
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	-3.96%	-3.69%	-0.27%
Average Drawdown Average peak-to-trough decline	-1.50%	-5.70%	+4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.72%	—

Volatility

Volatility by Period

	ACEP	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.83%	10.88%	+6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.83%	22.44%	-4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.83%	19.08%	-1.25%

ACEP vs. DFND - Expense Ratio Comparison

ACEP has a 0.45% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

ACEP vs. DFND - Dividend Comparison

ACEP's dividend yield for the trailing twelve months is around 0.11%, while DFND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACEP ARS Core Equity Portfolio ETF	0.11%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFND Siren DIVCON Dividend Defender ETF	0.29%	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 ACEP and DFND in my portfolio?

ACEP and DFND have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACEP or DFND?

On fees, ACEP is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACEP or DFND?

ACEP is cheaper with a 0.45% expense ratio, compared with 1.50% for DFND.

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

DFND has the higher dividend yield at 0.29%, compared with 0.11% for ACEP.

What is the main difference between ACEP and DFND?

They also come from different issuers: ARS Investment Partners and SRN Advisors. Their fees differ too: 0.45% for ACEP and 1.50% for DFND.