DFND vs. MARB
DFND (Siren DIVCON Dividend Defender ETF) and MARB (First Trust Merger Arbitrage ETF) are both exchange-traded funds - DFND is a Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index, while MARB is a Long-Short fund actively managed by First Trust. DFND is passively managed, while MARB is actively managed. Over the past 5 years, DFND returned 4.54%/yr vs 2.96%/yr for MARB. At a 0.13 correlation, their price movements are largely independent. DFND charges 1.50%/yr vs 2.30%/yr for MARB.
Performance
DFND vs. MARB - Performance Comparison
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Returns By Period
DFND
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 2.18%
- 3Y*
- 8.10%
- 5Y*
- 4.54%
- 10Y*
- 7.15%
MARB
- 1D
- 0.94%
- 1M
- 0.57%
- YTD
- 1.77%
- 6M
- 1.89%
- 1Y
- 6.71%
- 3Y*
- 4.36%
- 5Y*
- 2.96%
- 10Y*
- —
DFND vs. MARB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DFND Siren DIVCON Dividend Defender ETF | 0.00% | 10.37% | 8.48% | 12.13% | -19.59% | 14.80% | 12.62% |
MARB First Trust Merger Arbitrage ETF | 1.77% | 7.02% | 0.73% | 2.16% | 3.89% | 0.26% | -2.55% |
Correlation
The correlation between DFND and MARB is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2020 | 0.13 |
The correlation between DFND and MARB shifts across timeframes, from -0.14 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFND vs. MARB — Risk / Return Rank
DFND
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MARB
DFND vs. MARB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Siren DIVCON Dividend Defender ETF (DFND) and First Trust Merger Arbitrage ETF (MARB). 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 | MARB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.35 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 2.78 | -2.18 |
| Martin ratioReturn relative to average drawdown | 1.08 | 22.96 | -21.88 |
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Drawdowns
DFND vs. MARB - Drawdown Comparison
The maximum DFND drawdown since its inception was -22.65%, which is greater than MARB's maximum drawdown of -11.99%. Use the drawdown chart below to compare losses from any high point for DFND and MARB.
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Drawdown Indicators
| DFND | MARB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.65% | -11.99% | -10.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -2.43% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.56% | -3.67% | -8.89% |
Max Drawdown (5Y)Largest decline over 5 years | -22.65% | -3.67% | -18.98% |
Max Drawdown (10Y)Largest decline over 10 years | -22.65% | — | — |
Current DrawdownCurrent decline from peak | -3.69% | 0.00% | -3.69% |
Average DrawdownAverage peak-to-trough decline | -5.70% | -1.39% | -4.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 0.29% | +3.43% |
Volatility
DFND vs. MARB - Volatility Comparison
The current volatility for Siren DIVCON Dividend Defender ETF (DFND) is 0.00%, while First Trust Merger Arbitrage ETF (MARB) has a volatility of 1.06%. This indicates that DFND experiences smaller price fluctuations and is considered to be less risky than MARB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFND | MARB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 1.06% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 6.10% | 2.35% | +3.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.88% | 5.35% | +5.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.44% | 4.28% | +18.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.08% | 5.59% | +13.49% |
DFND vs. MARB - Expense Ratio Comparison
DFND has a 1.50% expense ratio, which is lower than MARB's 2.30% expense ratio.
Dividends
DFND vs. MARB - Dividend Comparison
DFND has not paid dividends to shareholders, while MARB's dividend yield for the trailing twelve months is around 2.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
MARB First Trust Merger Arbitrage ETF | 2.96% | 3.01% | 2.11% | 2.20% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFND and MARB have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARB has higher volatility (1.06%) compared to DFND (0.00%). In terms of maximum drawdown, DFND dropped -22.65% vs MARB's -11.99%.
On 5-year performance, DFND leads with 4.54% vs 2.96% for MARB. On fees, DFND is cheaper at 1.50% per year. On volatility, DFND has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DFND has performed better with a 4.54% return vs 2.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFND is cheaper with a 1.50% expense ratio, compared with 2.30% for MARB.
MARB has the higher dividend yield at 2.96%, compared with 0.62% for DFND.
DFND is categorized as Large Cap Blend Equities, while MARB is Long-Short. They also come from different issuers: SRN Advisors and First Trust. Their fees differ too: 1.50% for DFND and 2.30% for MARB.
MARB currently has the higher Sharpe Ratio (1.26 vs 0.19), 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.
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