DIVE vs. DUNK

Last updated Jun 4, 2026

DIVE (Dana Concentrated Dividend ETF) and DUNK (Dana Unconstrained Equity ETF) are both exchange-traded funds - DIVE is a Dividend fund actively managed by Dana, while DUNK is a Large Cap Growth Equities fund actively managed by Dana. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. DIVE charges 0.65%/yr vs 0.75%/yr for DUNK.

Performance

DIVE vs. DUNK - Performance Comparison

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

Returns By Period

In the year-to-date period, DIVE achieves a 0.38% return, which is significantly lower than DUNK's 3.11% return.

DIVE

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

DUNK

• 1D: -3.22%
• 1M: 12.98%
• YTD: 3.11%
• 6M: 1.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVE vs. DUNK - Yearly Performance Comparison

	2026 (YTD)	2025
DIVE Dana Concentrated Dividend ETF	0.38%	2.18%
DUNK Dana Unconstrained Equity ETF	3.11%	-1.72%

Correlation

The correlation between DIVE and DUNK is 0.43, 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 Sep 17, 2025	0.43

Return for Risk

DIVE vs. DUNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dana Concentrated Dividend ETF (DIVE) and Dana Unconstrained Equity ETF (DUNK). 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	DUNK	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.09	+0.20

Drawdowns

DIVE vs. DUNK - Drawdown Comparison

The maximum DIVE drawdown since its inception was -11.45%, smaller than the maximum DUNK drawdown of -25.64%. Use the drawdown chart below to compare losses from any high point for DIVE and DUNK.

Drawdown Indicators

	DIVE	DUNK	Difference
Max Drawdown Largest peak-to-trough decline	-11.45%	-25.64%	+14.19%
Current Drawdown Current decline from peak	-4.35%	-6.45%	+2.10%
Average Drawdown Average peak-to-trough decline	-3.11%	-10.08%	+6.97%

Volatility

Volatility by Period

	DIVE	DUNK	Difference
Volatility (1Y) Calculated over the trailing 1-year period	12.93%	21.97%	-9.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.93%	21.97%	-9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.93%	21.97%	-9.04%

DIVE vs. DUNK - Expense Ratio Comparison

DIVE has a 0.65% expense ratio, which is lower than DUNK's 0.75% expense ratio.

Dividends

DIVE vs. DUNK - Dividend Comparison

DIVE's dividend yield for the trailing twelve months is around 0.98%, while DUNK has not paid dividends to shareholders.

Position	TTM	2025
DIVE Dana Concentrated Dividend ETF	0.98%	0.66%
DUNK Dana Unconstrained Equity ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVE and DUNK in my portfolio?

DIVE and DUNK have a correlation of 0.43, 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 DUNK?

On fees, DIVE is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DIVE or DUNK?

DIVE is cheaper with a 0.65% expense ratio, compared with 0.75% for DUNK.

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

DIVE has the higher dividend yield at 0.98%, compared with 0.00% for DUNK.

What is the main difference between DIVE and DUNK?

DIVE is categorized as Dividend, while DUNK is Large Cap Growth Equities. Their fees differ too: 0.65% for DIVE and 0.75% for DUNK.