DIVE vs. DANA

Last updated Jun 4, 2026

DIVE (Dana Concentrated Dividend ETF) and DANA (Dana Limited Volatility ETF) are both exchange-traded funds - DIVE is a Dividend fund actively managed by Dana, while DANA is a Short-Term Bond fund actively managed by Dana. Both are actively managed. At a 0.21 correlation, their price movements are largely independent. DIVE charges 0.65%/yr vs 0.35%/yr for DANA.

Performance

DIVE vs. DANA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dana Concentrated Dividend ETF (DIVE) and Dana Limited Volatility ETF (DANA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DIVE having a 0.38% return and DANA slightly lower at 0.37%.

DIVE

• 1D: -0.22%
• 1M: -1.09%
• YTD: 0.38%
• 6M: 1.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DANA

• 1D: -0.20%
• 1M: 0.21%
• YTD: 0.37%
• 6M: 1.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVE vs. DANA - Yearly Performance Comparison

	2026 (YTD)	2025
DIVE Dana Concentrated Dividend ETF	0.38%	1.41%
DANA Dana Limited Volatility ETF	0.37%	0.81%

Correlation

The correlation between DIVE and DANA is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025	0.21

Return for Risk

DIVE vs. DANA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dana Concentrated Dividend ETF (DIVE) and Dana Limited Volatility ETF (DANA). 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.

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

Sharpe Ratios by Period

	DIVE	DANA	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.83	-0.55

Drawdowns

DIVE vs. DANA - Drawdown Comparison

The maximum DIVE drawdown since its inception was -11.45%, which is greater than DANA's maximum drawdown of -1.04%. Use the drawdown chart below to compare losses from any high point for DIVE and DANA.

Drawdown Indicators

	DIVE	DANA	Difference
Max Drawdown Largest peak-to-trough decline	-11.45%	-1.04%	-10.41%
Current Drawdown Current decline from peak	-4.35%	-0.53%	-3.82%
Average Drawdown Average peak-to-trough decline	-3.11%	-0.52%	-2.59%

Volatility

Volatility by Period

	DIVE	DANA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	12.93%	2.92%	+10.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.93%	2.92%	+10.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.93%	2.92%	+10.01%

DIVE vs. DANA - Expense Ratio Comparison

DIVE has a 0.65% expense ratio, which is higher than DANA's 0.35% expense ratio.

Dividends

DIVE vs. DANA - Dividend Comparison

DIVE's dividend yield for the trailing twelve months is around 0.98%, less than DANA's 1.46% yield.

Position	TTM	2025
DANA Dana Limited Volatility ETF	1.46%	0.29%
DIVE Dana Concentrated Dividend ETF	0.98%	0.66%

Frequently Asked Questions

Can I hold both DIVE and DANA in my portfolio?

DIVE and DANA have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DIVE or DANA?

On fees, DANA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DIVE or DANA?

DANA is cheaper with a 0.35% expense ratio, compared with 0.65% for DIVE.

Which ETF pays a higher dividend yield, DIVE or DANA?

DANA has the higher dividend yield at 1.46%, compared with 0.98% for DIVE.

What is the main difference between DIVE and DANA?

DIVE is categorized as Dividend, while DANA is Short-Term Bond. Their fees differ too: 0.65% for DIVE and 0.35% for DANA.