DUNK vs. DIVE

Last updated Jun 4, 2026

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

Performance

DUNK vs. DIVE - Performance Comparison

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

Returns By Period

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

DUNK

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

DIVE

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

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

DUNK vs. DIVE - Yearly Performance Comparison

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

Correlation

The correlation between DUNK and DIVE 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

DUNK vs. DIVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dana Unconstrained Equity ETF (DUNK) and Dana Concentrated Dividend ETF (DIVE). 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

	DUNK	DIVE	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.28	-0.20

Drawdowns

DUNK vs. DIVE - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

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

DUNK vs. DIVE - Expense Ratio Comparison

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

Dividends

DUNK vs. DIVE - Dividend Comparison

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

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 DUNK and DIVE in my portfolio?

DUNK and DIVE 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, DUNK or DIVE?

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, DUNK or DIVE?

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

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

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

What is the main difference between DUNK and DIVE?

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