DUSA vs. DFND

Last updated Jun 4, 2026

DUSA (Davis Select U.S. Equity ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds. DUSA is actively managed, while DFND is passively managed. Over the past 5 years, DUSA returned 10.68%/yr vs 4.54%/yr for DFND. At a 0.43 correlation, their price movements are largely independent. DUSA charges 0.62%/yr vs 1.50%/yr for DFND.

Performance

DUSA vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davis Select U.S. Equity ETF (DUSA) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DUSA

• 1D: -0.45%
• 1M: -0.39%
• YTD: 7.71%
• 6M: 9.63%
• 1Y: 26.21%
• 3Y*: 23.39%
• 5Y*: 10.68%
• 10Y*: —

DFND

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -1.09%
• 1Y: 0.20%
• 3Y*: 7.91%
• 5Y*: 4.54%
• 10Y*: 7.16%

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

DUSA vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSA Davis Select U.S. Equity ETF	7.71%	22.57%	20.43%	34.17%	-19.57%	17.71%	14.22%	30.54%	-11.93%	16.91%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	12.13%	-19.59%	14.80%	16.12%	19.53%	-1.83%	15.49%

Correlation

The correlation between DUSA and DFND is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jan 13, 2017	0.43

Over the past year, the correlation between DUSA and DFND has dropped to 0.09 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

DUSA vs. DFND - Sectors Allocation Comparison

Sectors	DUSA	DFND
Financial Services	24.8%	18.2%
Healthcare	17.6%	10.7%
Communication Services	13.3%	0.8%
Consumer Cyclical	12.9%	3.5%
Energy	10.9%	1.7%
Technology	7.9%	24.8%
Consumer Defensive	7.1%	4.2%
Basic Materials	3.1%	4.3%
Industrials	2.4%	17.1%
Real Estate	-	2.0%
Utilities	-	-

Return for Risk

DUSA vs. DFND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DUSA

DUSA Risk / Return Rank: 63
DUSA Sharpe Ratio Rank: 61
DUSA Sortino Ratio Rank: 60
DUSA Omega Ratio Rank: 58
DUSA Calmar Ratio Rank: 70
DUSA Martin Ratio Rank: 65

DFND

DFND Risk / Return Rank: 9
DFND Sharpe Ratio Rank: 9
DFND Sortino Ratio Rank: 8
DFND Omega Ratio Rank: 8
DFND Calmar Ratio Rank: 9
DFND Martin Ratio Rank: 9

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.

DUSA vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davis Select U.S. Equity ETF (DUSA) 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.

	DUSA	DFND	Difference
Sharpe ratio: Return per unit of total volatility	2.06	0.02	+2.03
Sortino ratio: Return per unit of downside risk	2.85	0.11	+2.74
Omega ratio: Gain probability vs. loss probability	1.36	1.02	+0.34
Calmar ratio: Return relative to maximum drawdown	3.47	0.07	+3.40
Martin ratio: Return relative to average drawdown	11.85	0.13	+11.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DUSA vs. DFND - Sharpe Ratio Comparison

The current DUSA Sharpe Ratio is 2.06, which is higher than the DFND Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of DUSA 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.

Sharpe Ratios by Period

	DUSA	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	0.02	+2.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.21	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.36	+0.29

Drawdowns

DUSA vs. DFND - Drawdown Comparison

The maximum DUSA drawdown since its inception was -36.71%, which is greater than DFND's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for DUSA and DFND.

Drawdown Indicators

	DUSA	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-36.71%	-22.65%	-14.06%
Max Drawdown (1Y) Largest decline over 1 year	-7.59%	-3.44%	-4.15%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-12.56%	-4.26%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-22.65%	-7.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.65%	—
Current Drawdown Current decline from peak	-2.17%	-3.69%	+1.52%
Average Drawdown Average peak-to-trough decline	-6.73%	-5.70%	-1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	3.70%	-1.48%

Volatility

DUSA vs. DFND - Volatility Comparison

Davis Select U.S. Equity ETF (DUSA) has a higher volatility of 2.19% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that DUSA'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.

Volatility by Period

	DUSA	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	0.00%	+2.19%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	6.16%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.84%	10.92%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	22.46%	-3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.85%	19.09%	+0.76%

DUSA vs. DFND - Expense Ratio Comparison

DUSA has a 0.62% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

DUSA vs. DFND - Dividend Comparison

DUSA's dividend yield for the trailing twelve months is around 0.89%, more than DFND's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
DUSA Davis Select U.S. Equity ETF	0.89%	0.96%	0.85%	3.38%	1.21%	1.12%	0.51%	1.12%	2.77%	0.68%

Frequently Asked Questions

Can I hold both DUSA and DFND in my portfolio?

DUSA and DFND have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUSA or DFND?

DUSA has higher volatility (2.19%) compared to DFND (0.00%). In terms of maximum drawdown, DUSA dropped -36.71% vs DFND's -22.65%.

Which ETF is better, DUSA or DFND?

On 5-year performance, DUSA leads with 10.68% vs 4.54% for DFND. On fees, DUSA is cheaper at 0.62% per year. On volatility, DFND has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUSA or DFND?

Over the 5-year period, DUSA has performed better with a 10.68% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUSA or DFND?

DUSA is cheaper with a 0.62% expense ratio, compared with 1.50% for DFND.

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

DUSA has the higher dividend yield at 0.89%, compared with 0.62% for DFND.

What is the main difference between DUSA and DFND?

They also come from different issuers: Davis Advisers and SRN Advisors. Their fees differ too: 0.62% for DUSA and 1.50% for DFND.

Which has better risk-adjusted returns?

DUSA currently has the higher Sharpe Ratio (2.06 vs 0.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.