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DGRC.TO vs. DFND
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DGRC.TO vs. DFND

Last updated Jun 4, 2026

DGRC.TO (CI Canada Quality Dividend Growth Index ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both exchange-traded funds - DGRC.TO is a Dividend fund managed by CI Investments, while DFND is a Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index. Over the past 5 years, DGRC.TO returned 12.71%/yr vs 7.53%/yr for DFND. At a 0.19 correlation, their price movements are largely independent. DGRC.TO charges 0.23%/yr vs 1.50%/yr for DFND.

Performance

DGRC.TO vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Canada Quality Dividend Growth Index ETF (DGRC.TO) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

DGRC.TO is traded in CAD, while DFND is traded in USD. To make them comparable, the DFND values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DGRC.TO achieves a 14.54% return, which is significantly higher than DFND's 0.92% return.

DGRC.TO

1D
0.42%
1M
2.95%
YTD
14.54%
6M
14.94%
1Y
32.94%
3Y*
20.12%
5Y*
12.71%
10Y*
—

DFND

1D
0.41%
1M
2.00%
YTD
0.92%
6M
-1.47%
1Y
1.49%
3Y*
9.16%
5Y*
7.53%
10Y*
7.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DGRC.TO vs. DFND - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
DGRC.TO
CI Canada Quality Dividend Growth Index ETF		14.54%27.20%12.36%7.79%-1.70%20.84%7.22%18.60%-3.85%
DFND
Siren DIVCON Dividend Defender ETF		0.92%5.68%17.79%9.66%-13.86%13.76%14.15%13.66%5.15%

Correlation

The correlation between DGRC.TO and DFND is 0.03, 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

0.03

Correlation (3Y)
Calculated over the trailing 3-year period

0.05

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Feb 5, 2018

0.19

The correlation between DGRC.TO and DFND shifts across timeframes, from 0.03 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

DGRC.TO vs. DFND - Sectors Allocation Comparison

Sectors
DGRC.TO
DFND

Energy

27.7%
1.7%

Financial Services

24.3%
18.2%

Industrials

16.1%
17.1%

Consumer Defensive

10.7%
4.2%

Consumer Cyclical

10.2%
3.5%

Basic Materials

8.0%
4.3%

Communication Services

1.7%
0.8%

Technology

1.2%
24.8%

Real Estate

0.1%
2.0%

Healthcare

-

10.7%

Utilities

-

-

Energy

DGRC.TO
27.7%
DFND
1.7%

Financial Services

DGRC.TO
24.3%
DFND
18.2%

Industrials

DGRC.TO
16.1%
DFND
17.1%

Consumer Defensive

DGRC.TO
10.7%
DFND
4.2%

Consumer Cyclical

DGRC.TO
10.2%
DFND
3.5%

Basic Materials

DGRC.TO
8.0%
DFND
4.3%

Communication Services

DGRC.TO
1.7%
DFND
0.8%

Technology

DGRC.TO
1.2%
DFND
24.8%

Real Estate

DGRC.TO
0.1%
DFND
2.0%

Healthcare

DGRC.TO

-

DFND
10.7%

Utilities

DGRC.TO

-

DFND

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Canada Quality Dividend Growth Index ETF

Siren DIVCON Dividend Defender ETF

Often compared with DGRC.TO:
DGRC.TO vs. VDY.TODGRC.TO vs. VYMDGRC.TO vs. RIT.TODGRC.TO vs. ISPA.DEDGRC.TO vs. PDC.TODGRC.TO vs. VDIV.DEDGRC.TO vs. SCHD
Often compared with DFND:
DFND vs. DFNG.LDFND vs. ITADFND vs. CLSEDFND vs. QAIDFND vs. 2B7C.DEDFND vs. HTUSDFND vs. VOO

Return for Risk

DGRC.TO vs. DFND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DGRC.TO
DGRC.TO Risk / Return Rank: 8888
Overall Rank
DGRC.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
DGRC.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
DGRC.TO Omega Ratio Rank: 8585
Omega Ratio Rank
DGRC.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
DGRC.TO Martin Ratio Rank: 9090
Martin Ratio Rank
DFND
DFND Risk / Return Rank: 99
Overall Rank
DFND Sharpe Ratio Rank: 99
Sharpe Ratio Rank
DFND Sortino Ratio Rank: 88
Sortino Ratio Rank
DFND Omega Ratio Rank: 88
Omega Ratio Rank
DFND Calmar Ratio Rank: 99
Calmar Ratio Rank
DFND Martin Ratio Rank: 99
Martin Ratio Rank
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.

DGRC.TO vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Canada Quality Dividend Growth Index ETF (DGRC.TO) 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.

DGRC.TODFNDDifference
Sharpe ratioReturn per unit of total volatility
2.86
0.15

+2.71

Sortino ratioReturn per unit of downside risk
3.88
0.29

+3.59

Omega ratioGain probability vs. loss probability

1.52

1.04

+0.48

Calmar ratioReturn relative to maximum drawdown

5.52

0.30

+5.22

Martin ratioReturn relative to average drawdown

20.77

0.57

+20.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGRC.TO vs. DFND - Sharpe Ratio Comparison

The current DGRC.TO Sharpe Ratio is 2.86, which is higher than the DFND Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of DGRC.TO 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.

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Sharpe Ratios by Period

DGRC.TODFNDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.86

0.15

+2.71

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.35

+0.67

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.42

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.34

+0.48

Drawdowns

DGRC.TO vs. DFND - Drawdown Comparison

The maximum DGRC.TO drawdown since its inception was -36.59%, which is greater than DFND's maximum drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for DGRC.TO and DFND.

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Drawdown Indicators

DGRC.TODFNDDifference

Max Drawdown

Largest peak-to-trough decline

-36.59%

-21.72%

-14.87%

Max Drawdown (1Y)

Largest decline over 1 year

-5.99%

-5.87%

-0.12%

Max Drawdown (3Y)

Largest decline over 3 years

-12.90%

-15.30%

+2.40%

Max Drawdown (5Y)

Largest decline over 5 years

-15.39%

-21.72%

+6.33%

Max Drawdown (10Y)

Largest decline over 10 years

—

-21.72%

—

Current Drawdown

Current decline from peak

-0.15%

-4.46%

+4.31%

Average Drawdown

Average peak-to-trough decline

-3.20%

-6.41%

+3.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.59%

4.30%

-2.71%

Volatility

DGRC.TO vs. DFND - Volatility Comparison

CI Canada Quality Dividend Growth Index ETF (DGRC.TO) has a higher volatility of 2.59% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.80%. This indicates that DGRC.TO'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.

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Volatility by Period

DGRC.TODFNDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.59%

0.80%

+1.79%

Volatility (6M)

Calculated over the trailing 6-month period

9.16%

6.78%

+2.38%

Volatility (1Y)

Calculated over the trailing 1-year period

11.58%

11.63%

-0.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.47%

22.24%

-9.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.73%

19.11%

-4.38%

DGRC.TO vs. DFND - Expense Ratio Comparison

DGRC.TO has a 0.23% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

DGRC.TO vs. DFND - Dividend Comparison

DGRC.TO's dividend yield for the trailing twelve months is around 2.41%, more than DFND's 0.62% yield.

PositionTTM202520242023202220212020201920182017
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%
DGRC.TO
CI Canada Quality Dividend Growth Index ETF		2.41%2.58%2.46%2.56%2.48%1.87%3.06%2.20%1.63%0.00%

Frequently Asked Questions

DGRC.TO and DFND have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, DGRC.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

DGRC.TO is cheaper with a 0.23% expense ratio, compared with 1.50% for DFND.

DGRC.TO is categorized as Dividend, while DFND is Large Cap Blend Equities. They also come from different issuers: CI Investments and SRN Advisors. Their fees differ too: 0.23% for DGRC.TO and 1.50% for DFND.

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