BRCE vs. DFND

Last updated Jun 4, 2026

BRCE (MFS Blended Research Core Equity ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds. BRCE is actively managed, while DFND is passively managed. At a 0.02 correlation, their price movements are largely independent. BRCE charges 0.24%/yr vs 1.50%/yr for DFND.

Performance

BRCE vs. DFND - Performance Comparison

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

Returns By Period

BRCE

• 1D: -0.85%
• 1M: 4.81%
• YTD: 11.86%
• 6M: 12.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFND

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.06%
• 1Y: 1.01%
• 3Y*: 8.09%
• 5Y*: 4.54%
• 10Y*: 7.15%

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

BRCE vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025
BRCE MFS Blended Research Core Equity ETF	11.86%	2.68%
DFND Siren DIVCON Dividend Defender ETF	0.00%	0.54%

Correlation

The correlation between BRCE 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 Oct 23, 2025	0.02

Return for Risk

BRCE vs. DFND — Risk / Return Rank

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

DFND

DFND Risk / Return Rank: 11
DFND Sharpe Ratio Rank: 11
DFND Sortino Ratio Rank: 10
DFND Omega Ratio Rank: 11
DFND Calmar Ratio Rank: 13
DFND Martin Ratio Rank: 12

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.

BRCE vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Blended Research Core Equity ETF (BRCE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BRCE	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.11	—
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	1.82	0.36	+1.46

Drawdowns

BRCE vs. DFND - Drawdown Comparison

The maximum BRCE drawdown since its inception was -8.77%, smaller than the maximum DFND drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for BRCE and DFND.

Drawdown Indicators

	BRCE	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-8.77%	-22.65%	+13.88%
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	-0.85%	-3.69%	+2.84%
Average Drawdown Average peak-to-trough decline	-1.55%	-5.70%	+4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.71%	—

Volatility

Volatility by Period

	BRCE	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	10.92%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	22.45%	-8.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	19.08%	-4.93%

BRCE vs. DFND - Expense Ratio Comparison

BRCE has a 0.24% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

BRCE vs. DFND - Dividend Comparison

BRCE's dividend yield for the trailing twelve months is around 0.34%, less than DFND's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRCE MFS Blended Research Core Equity ETF	0.34%	0.19%	0.00%	0.00%	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 BRCE and DFND in my portfolio?

BRCE 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, BRCE or DFND?

On fees, BRCE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BRCE or DFND?

BRCE is cheaper with a 0.24% expense ratio, compared with 1.50% for DFND.

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

DFND has the higher dividend yield at 0.62%, compared with 0.34% for BRCE.

What is the main difference between BRCE and DFND?

They also come from different issuers: MFS and SRN Advisors. Their fees differ too: 0.24% for BRCE and 1.50% for DFND.