DFND vs. BRK-B

Last updated Jun 14, 2026

DFND (Siren DIVCON Dividend Defender ETF) is Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, DFND returned 7.15%/yr vs 13.22%/yr for BRK-B. At a 0.33 correlation, their price movements are largely independent.

Performance

DFND vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren DIVCON Dividend Defender ETF (DFND) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, DFND has underperformed BRK-B with an annualized return of 7.15%, while BRK-B has yielded a comparatively higher 13.22% annualized return.

DFND

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 1.72%
• 3Y*: 8.10%
• 5Y*: 4.54%
• 10Y*: 7.15%

BRK-B

• 1D: 0.71%
• 1M: 1.36%
• YTD: -2.67%
• 6M: -2.06%
• 1Y: 0.35%
• 3Y*: 13.30%
• 5Y*: 11.27%
• 10Y*: 13.22%

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

DFND vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	12.13%	-19.59%	14.80%	16.12%	19.53%	-1.83%	16.33%
BRK-B Berkshire Hathaway Inc.	-2.67%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between DFND and BRK-B is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 14, 2016	0.33

Over the past year, the correlation between DFND and BRK-B has dropped to 0.06 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.

Return for Risk

DFND vs. BRK-B — Risk / Return Rank

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

DFND

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

BRK-B

BRK-B Risk / Return Rank: 39
BRK-B Sharpe Ratio Rank: 42
BRK-B Sortino Ratio Rank: 34
BRK-B Omega Ratio Rank: 33
BRK-B Calmar Ratio Rank: 42
BRK-B Martin Ratio Rank: 42

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.

DFND vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren DIVCON Dividend Defender ETF (DFND) and Berkshire Hathaway Inc. (BRK-B). 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.

	DFND	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	0.19	-0.02	+0.21
Sortino ratio: Return per unit of downside risk	0.35	0.08	+0.27
Omega ratio: Gain probability vs. loss probability	1.05	1.01	+0.04
Calmar ratio: Return relative to maximum drawdown	0.60	-0.02	+0.62
Martin ratio: Return relative to average drawdown	1.08	-0.05	+1.13

DFND vs. BRK-B - Sharpe Ratio Comparison

The current DFND Sharpe Ratio is 0.19, which is higher than the BRK-B Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of DFND and BRK-B, 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

DFND vs. BRK-B - Drawdown Comparison

The maximum DFND drawdown since its inception was -22.65%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for DFND and BRK-B.

Drawdown Indicators

	DFND	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-22.65%	-53.86%	+31.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.44%	-9.42%	+5.98%
Max Drawdown (3Y) Largest decline over 3 years	-12.56%	-14.95%	+2.39%
Max Drawdown (5Y) Largest decline over 5 years	-22.65%	-26.58%	+3.93%
Max Drawdown (10Y) Largest decline over 10 years	-22.65%	-29.57%	+6.92%
Current Drawdown Current decline from peak	-3.69%	-9.36%	+5.67%
Average Drawdown Average peak-to-trough decline	-5.70%	-11.07%	+5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	4.53%	-0.81%

Volatility

DFND vs. BRK-B - Volatility Comparison

The current volatility for Siren DIVCON Dividend Defender ETF (DFND) is 0.00%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.95%. This indicates that DFND experiences smaller price fluctuations and is considered to be less risky than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFND	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	3.95%	-3.95%
Volatility (6M) Calculated over the trailing 6-month period	6.10%	10.78%	-4.68%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	14.38%	-3.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.44%	17.12%	+5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	19.44%	-0.36%

Dividends

DFND vs. BRK-B - Dividend Comparison

Neither DFND nor BRK-B has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	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 DFND and BRK-B in my portfolio?

DFND and BRK-B have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFND or BRK-B?

BRK-B has higher volatility (3.95%) compared to DFND (0.00%). In terms of maximum drawdown, DFND dropped -22.65% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

DFND currently has the higher Sharpe Ratio (0.19 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.