CMCX.L vs. DFND

Last updated Jun 13, 2026

CMCX.L (CMC Markets plc) is a stock, while DFND (Siren DIVCON Dividend Defender ETF) is Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index. Over the past 10 years, CMCX.L returned 10.03%/yr vs 8.08%/yr for DFND. At a 0.04 correlation, their price movements are largely independent.

Performance

CMCX.L vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in CMC Markets plc (CMCX.L) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CMCX.L is traded in GBp, while DFND is traded in USD. To make them comparable, the DFND values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CMCX.L achieves a 55.18% return, which is significantly higher than DFND's 0.24% return. Over the past 10 years, CMCX.L has outperformed DFND with an annualized return of 10.03%, while DFND has yielded a comparatively lower 8.08% annualized return.

CMCX.L

• 1D: 0.11%
• 1M: 22.43%
• YTD: 55.18%
• 6M: 62.81%
• 1Y: 93.05%
• 3Y*: 46.87%
• 5Y*: 3.69%
• 10Y*: 10.03%

DFND

• 1D: 0.63%
• 1M: -0.12%
• YTD: 0.24%
• 6M: 0.24%
• 1Y: 3.50%
• 3Y*: 5.56%
• 5Y*: 5.80%
• 10Y*: 8.08%

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

CMCX.L vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMCX.L CMC Markets plc	55.18%	27.16%	144.09%	-51.43%	-10.97%	-28.25%	183.92%	43.23%	-26.78%	45.42%
DFND Siren DIVCON Dividend Defender ETF	0.24%	3.28%	10.37%	6.52%	-10.03%	15.88%	12.71%	14.98%	3.99%	6.27%

Correlation

The correlation between CMCX.L and DFND is -0.05, 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	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Feb 5, 2016	0.04

Return for Risk

CMCX.L vs. DFND — Risk / Return Rank

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

CMCX.L

CMCX.L Risk / Return Rank: 93
CMCX.L Sharpe Ratio Rank: 90
CMCX.L Sortino Ratio Rank: 97
CMCX.L Omega Ratio Rank: 94
CMCX.L Calmar Ratio Rank: 93
CMCX.L Martin Ratio Rank: 92

DFND

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

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.

CMCX.L vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CMC Markets plc (CMCX.L) 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.

	CMCX.L	DFND	Difference
Sharpe ratio: Return per unit of total volatility	2.09	0.36	+1.74
Sortino ratio: Return per unit of downside risk	4.44	0.59	+3.85
Omega ratio: Gain probability vs. loss probability	1.52	1.07	+0.44
Calmar ratio: Return relative to maximum drawdown	5.16	0.63	+4.52
Martin ratio: Return relative to average drawdown	13.26	1.22	+12.04

CMCX.L vs. DFND - Sharpe Ratio Comparison

The current CMCX.L Sharpe Ratio is 2.09, which is higher than the DFND Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of CMCX.L 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.

Drawdowns

CMCX.L vs. DFND - Drawdown Comparison

The maximum CMCX.L drawdown since its inception was -81.04%, which is greater than DFND's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for CMCX.L and DFND.

Drawdown Indicators

	CMCX.L	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-81.04%	-17.79%	-63.25%
Max Drawdown (1Y) Largest decline over 1 year	-17.02%	-6.63%	-10.39%
Max Drawdown (3Y) Largest decline over 3 years	-45.29%	-17.79%	-27.50%
Max Drawdown (5Y) Largest decline over 5 years	-78.60%	-17.79%	-60.81%
Max Drawdown (10Y) Largest decline over 10 years	-81.04%	-17.79%	-63.25%
Current Drawdown Current decline from peak	-0.22%	-8.19%	+7.97%
Average Drawdown Average peak-to-trough decline	-40.52%	-5.30%	-35.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.63%	4.50%	+2.13%

Volatility

CMCX.L vs. DFND - Volatility Comparison

CMC Markets plc (CMCX.L) has a higher volatility of 17.61% compared to Siren DIVCON Dividend Defender ETF (DFND) at 1.80%. This indicates that CMCX.L'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

	CMCX.L	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.61%	1.80%	+15.81%
Volatility (6M) Calculated over the trailing 6-month period	24.26%	7.53%	+16.73%
Volatility (1Y) Calculated over the trailing 1-year period	41.97%	11.86%	+30.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.85%	22.74%	+24.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.35%	20.32%	+26.03%

Dividends

CMCX.L vs. DFND - Dividend Comparison

CMCX.L's dividend yield for the trailing twelve months is around 2.97%, while DFND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMCX.L CMC Markets plc	2.97%	4.62%	4.19%	4.67%	5.53%	9.46%	5.47%	2.41%	6.94%	5.95%
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 CMCX.L and DFND in my portfolio?

CMCX.L and DFND have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.