ESN vs. DFND

Last updated Jun 6, 2026

ESN (Essential 40 Stock ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds - ESN tracks the Essential 40 Stock Index while DFND tracks the Siren DIVCON Dividend Defender Index. Both are passively managed. Over the past year, ESN returned 26.33% vs 1.72% for DFND. At a 0.14 correlation, their price movements are largely independent. ESN charges 0.70%/yr vs 1.50%/yr for DFND.

Performance

ESN vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Essential 40 Stock ETF (ESN) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ESN

• 1D: -1.55%
• 1M: 2.19%
• YTD: 13.17%
• 6M: 13.13%
• 1Y: 26.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFND

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -0.97%
• 1Y: 1.72%
• 3Y*: 8.10%
• 5Y*: 4.54%
• 10Y*: 7.15%

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

ESN vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ESN Essential 40 Stock ETF	13.17%	16.52%	-2.98%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	-2.32%

Correlation

The correlation between ESN and DFND is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.14

Return for Risk

ESN vs. DFND — Risk / Return Rank

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

ESN

ESN Risk / Return Rank: 84
ESN Sharpe Ratio Rank: 86
ESN Sortino Ratio Rank: 87
ESN Omega Ratio Rank: 81
ESN Calmar Ratio Rank: 82
ESN Martin Ratio Rank: 84

DFND

DFND Risk / Return Rank: 13
DFND Sharpe Ratio Rank: 12
DFND Sortino Ratio Rank: 11
DFND Omega Ratio Rank: 12
DFND Calmar Ratio Rank: 17
DFND Martin Ratio Rank: 14

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.

ESN vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Essential 40 Stock ETF (ESN) 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.

	ESN	DFND	Difference
Sharpe ratio: Return per unit of total volatility	2.67	0.19	+2.48
Sortino ratio: Return per unit of downside risk	3.71	0.35	+3.35
Omega ratio: Gain probability vs. loss probability	1.46	1.05	+0.40
Calmar ratio: Return relative to maximum drawdown	4.12	0.60	+3.52
Martin ratio: Return relative to average drawdown	16.39	1.08	+15.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESN vs. DFND - Sharpe Ratio Comparison

The current ESN Sharpe Ratio is 2.67, which is higher than the DFND Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of ESN 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

	ESN	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.67	0.19	+2.48
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	1.24	0.36	+0.88

Drawdowns

ESN vs. DFND - Drawdown Comparison

The maximum ESN drawdown since its inception was -13.60%, smaller than the maximum DFND drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for ESN and DFND.

Drawdown Indicators

	ESN	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-13.60%	-22.65%	+9.05%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-3.44%	-2.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.65%	—
Current Drawdown Current decline from peak	-1.84%	-3.69%	+1.85%
Average Drawdown Average peak-to-trough decline	-1.87%	-5.70%	+3.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	3.72%	-2.11%

Volatility

ESN vs. DFND - Volatility Comparison

Essential 40 Stock ETF (ESN) has a higher volatility of 2.97% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that ESN'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

	ESN	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	0.00%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	7.24%	6.10%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	9.90%	10.88%	-0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.33%	22.44%	-9.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.33%	19.08%	-5.75%

ESN vs. DFND - Expense Ratio Comparison

ESN has a 0.70% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

ESN vs. DFND - Dividend Comparison

ESN's dividend yield for the trailing twelve months is around 0.80%, 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%
ESN Essential 40 Stock ETF	0.80%	0.91%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ESN and DFND in my portfolio?

ESN and DFND have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESN or DFND?

ESN has higher volatility (2.97%) compared to DFND (0.00%). In terms of maximum drawdown, ESN dropped -13.60% vs DFND's -22.65%.

Which ETF is better, ESN or DFND?

On 1-year performance, ESN leads with 26.33% vs 1.72% for DFND. On fees, ESN is cheaper at 0.70% 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, ESN or DFND?

Over the 1-year period, ESN has performed better with a 26.33% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ESN or DFND?

ESN is cheaper with a 0.70% expense ratio, compared with 1.50% for DFND.

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

ESN has the higher dividend yield at 0.80%, compared with 0.62% for DFND.

What is the main difference between ESN and DFND?

ESN tracks Essential 40 Stock Index, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: KKM Financial and SRN Advisors. Their fees differ too: 0.70% for ESN and 1.50% for DFND.

Which has better risk-adjusted returns?

ESN currently has the higher Sharpe Ratio (2.67 vs 0.19), 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.