DFND vs. SPXM

Last updated Jul 14, 2026

DFND (Siren DIVCON Dividend Defender ETF) and SPXM (Azoria 500 Meritocracy ETF) are both Large Cap Blend Equities funds. DFND is passively managed, while SPXM is actively managed. At a 0.12 correlation, their price movements are largely independent. DFND charges 1.50%/yr vs 0.47%/yr for SPXM.

Performance

DFND vs. SPXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren DIVCON Dividend Defender ETF (DFND) and Azoria 500 Meritocracy ETF (SPXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFND

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

SPXM

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 8.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFND vs. SPXM - Yearly Performance Comparison

	2026 (YTD)	2025
DFND Siren DIVCON Dividend Defender ETF	0.00%	0.44%
SPXM Azoria 500 Meritocracy ETF	0.00%	9.27%

Correlation

The correlation between DFND and SPXM is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.12

Return for Risk

DFND vs. SPXM — 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.

SPXM

SPXM Risk / Return Rank: 57
SPXM Sharpe Ratio Rank: 47
SPXM Sortino Ratio Rank: 46
SPXM Omega Ratio Rank: 77
SPXM Calmar Ratio Rank: 50
SPXM Martin Ratio Rank: 66

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. SPXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren DIVCON Dividend Defender ETF (DFND) and Azoria 500 Meritocracy ETF (SPXM). 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	SPXM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.33	—
Sortino ratio: Return per unit of downside risk	—	1.88	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	2.01	—
Martin ratio: Return relative to average drawdown	—	9.42	—

Drawdowns

Drawdown Indicators

	DFND	SPXM	Difference
Max Drawdown Largest peak-to-trough decline	—	-5.08%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-5.08%	—
Current Drawdown Current decline from peak	—	-0.75%	—
Average Drawdown Average peak-to-trough decline	—	-0.78%	—

Volatility

Volatility by Period

	DFND	SPXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	7.68%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	7.66%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	7.66%	—

DFND vs. SPXM - Expense Ratio Comparison

DFND has a 1.50% expense ratio, which is higher than SPXM's 0.47% expense ratio.

Dividends

DFND vs. SPXM - Dividend Comparison

DFND has not paid dividends to shareholders, while SPXM's dividend yield for the trailing twelve months is around 0.24%.

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%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFND and SPXM in my portfolio?

DFND and SPXM have a correlation of 0.11, 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 SPXM?

On fees, SPXM is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFND or SPXM?

SPXM is cheaper with a 0.47% expense ratio, compared with 1.50% for DFND.

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

DFND has the higher dividend yield at 0.29%, compared with 0.24% for SPXM.

What is the main difference between DFND and SPXM?

They also come from different issuers: SRN Advisors and Azoria. Their fees differ too: 1.50% for DFND and 0.47% for SPXM.