ESMV vs. DFND
ESMV (iShares ESG MSCI USA Min Vol Factor ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds - ESMV tracks the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross while DFND tracks the Siren DIVCON Dividend Defender Index. Both are passively managed. Over the past 3 years, ESMV returned 11.27%/yr vs 7.91%/yr for DFND. At a 0.39 correlation, their price movements are largely independent. ESMV charges 0.18%/yr vs 1.50%/yr for DFND.
Performance
ESMV vs. DFND - Performance Comparison
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Returns By Period
ESMV
- 1D
- -0.78%
- 1M
- 3.36%
- YTD
- 5.28%
- 6M
- 5.39%
- 1Y
- 6.76%
- 3Y*
- 11.27%
- 5Y*
- —
- 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%
ESMV vs. DFND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 5.28% | 5.34% | 13.06% | 12.20% | -11.08% | 3.20% |
DFND Siren DIVCON Dividend Defender ETF | 0.00% | 10.37% | 8.48% | 12.13% | -19.59% | 3.07% |
Correlation
The correlation between ESMV and DFND is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2021 | 0.39 |
Over the past year, the correlation between ESMV and DFND has dropped to 0.16 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
ESMV vs. DFND — Risk / Return Rank
ESMV
DFND
ESMV vs. DFND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) 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.
| ESMV | DFND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.02 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 0.07 | +0.90 |
| Martin ratioReturn relative to average drawdown | 2.97 | 0.13 | +2.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ESMV | DFND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.02 | +0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.36 | +0.08 |
Drawdowns
ESMV vs. DFND - Drawdown Comparison
The maximum ESMV drawdown since its inception was -19.77%, smaller than the maximum DFND drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for ESMV and DFND.
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Drawdown Indicators
| ESMV | DFND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.77% | -22.65% | +2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -3.44% | -3.57% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -12.56% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.65% | — |
Current DrawdownCurrent decline from peak | -0.78% | -3.69% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -5.70% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 3.70% | -1.42% |
Volatility
ESMV vs. DFND - Volatility Comparison
iShares ESG MSCI USA Min Vol Factor ETF (ESMV) has a higher volatility of 2.25% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that ESMV'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
| ESMV | DFND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 0.00% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 6.16% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.06% | 10.92% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.24% | 22.46% | -9.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.24% | 19.09% | -5.85% |
ESMV vs. DFND - Expense Ratio Comparison
ESMV has a 0.18% expense ratio, which is lower than DFND's 1.50% expense ratio.
Dividends
ESMV vs. DFND - Dividend Comparison
ESMV's dividend yield for the trailing twelve months is around 1.58%, 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% |
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 1.58% | 1.56% | 1.71% | 1.75% | 1.66% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESMV and DFND have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESMV has higher volatility (2.25%) compared to DFND (0.00%). In terms of maximum drawdown, ESMV dropped -19.77% vs DFND's -22.65%.
On 3-year performance, ESMV leads with 11.27% vs 7.91% for DFND. On fees, ESMV is cheaper at 0.18% 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.
Over the 3-year period, ESMV has performed better with a 11.27% return vs 7.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESMV is cheaper with a 0.18% expense ratio, compared with 1.50% for DFND.
ESMV has the higher dividend yield at 1.58%, compared with 0.62% for DFND.
ESMV tracks MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: iShares and SRN Advisors. Their fees differ too: 0.18% for ESMV and 1.50% for DFND.
ESMV currently has the higher Sharpe Ratio (0.67 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.
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