DFND vs. EVIM

Last updated Aug 2, 2026

DFND (Siren DIVCON Dividend Defender ETF) and EVIM (Eaton Vance Intermediate Municipal Income ETF) are both exchange-traded funds - DFND is a Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index, while EVIM is a Municipal Bonds fund actively managed by Eaton Vance. DFND is passively managed, while EVIM is actively managed. Their 0.06 correlation means their historical movements had little consistent relationship. DFND charges 1.50%/yr vs 0.29%/yr for EVIM.

Performance

DFND vs. EVIM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren DIVCON Dividend Defender ETF (DFND) and Eaton Vance Intermediate Municipal Income ETF (EVIM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFND

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

EVIM

• 1D: -0.03%
• 1M: -1.69%
• 6M: -0.46%
• YTD: 0.54%
• 1Y: 5.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EVIM Eaton Vance Intermediate Municipal Income ETF	$1.71M	$1.89M	$1.74M

DFND vs. EVIM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	0.00%
EVIM Eaton Vance Intermediate Municipal Income ETF	0.54%	5.85%	1.65%	6.83%

Correlation

The correlation between DFND and EVIM is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.06

The correlation between DFND and EVIM shifts across timeframes, from -0.09 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFND vs. EVIM — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

EVIM

EVIM Risk / Return Rank: 76
EVIM Sharpe Ratio Rank: 89
EVIM Sortino Ratio Rank: 90
EVIM Omega Ratio Rank: 93
EVIM Calmar Ratio Rank: 57
EVIM Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFND vs. EVIM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren DIVCON Dividend Defender ETF (DFND) and Eaton Vance Intermediate Municipal Income ETF (EVIM). 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	EVIM	Difference
Sharpe ratio: Return per unit of total volatility	—	2.17	—
Sortino ratio: Return per unit of downside risk	—	3.14	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	2.03	—
Martin ratio: Return relative to average drawdown	—	6.08	—

Drawdowns

Drawdown Indicators

	DFND	EVIM	Difference
Max Drawdown Largest peak-to-trough decline	—	-4.23%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.05%	—
Current Drawdown Current decline from peak	—	-1.82%	—
Average Drawdown Average peak-to-trough decline	—	-0.88%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.02%	—

Volatility

Volatility by Period

	DFND	EVIM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.86%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	3.80%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	3.80%	—

DFND vs. EVIM - Expense Ratio Comparison

DFND has a 1.50% expense ratio, which is higher than EVIM's 0.29% expense ratio.

Dividends

DFND vs. EVIM - Dividend Comparison

DFND has not paid dividends to shareholders, while EVIM's dividend yield for the trailing twelve months is around 3.58%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
EVIM Eaton Vance Intermediate Municipal Income ETF	3.58%	3.58%	3.56%	0.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFND and EVIM in my portfolio?

DFND and EVIM have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFND or EVIM?

On fees, EVIM is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFND or EVIM?

EVIM is cheaper with a 0.29% expense ratio, compared with 1.50% for DFND.

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

EVIM has the higher dividend yield at 3.58%, compared with 0.29% for DFND.

What is the main difference between DFND and EVIM?

DFND is categorized as Large Cap Blend Equities, while EVIM is Municipal Bonds. They also come from different issuers: SRN Advisors and Eaton Vance. Their fees differ too: 1.50% for DFND and 0.29% for EVIM.