FTCE vs. DFND

Last updated Jul 14, 2026

FTCE (First Trust New Constructs Core Earnings Leaders ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds - FTCE tracks the Bloomberg New Constructs Core Earnings Leaders Index while DFND tracks the Siren DIVCON Dividend Defender Index. Both are passively managed. At a 0.15 correlation, their price movements are largely independent. FTCE charges 0.60%/yr vs 1.50%/yr for DFND.

Performance

FTCE vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust New Constructs Core Earnings Leaders ETF (FTCE) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FTCE

• 1D: -0.68%
• 1M: 0.48%
• 6M: 7.64%
• YTD: 10.31%
• 1Y: 23.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFND

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTCE vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FTCE First Trust New Constructs Core Earnings Leaders ETF	10.31%	26.14%	-0.02%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	-7.52%

Correlation

The correlation between FTCE and DFND is 0.08, 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	0.08
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.15

FTCE vs. DFND - Sectors Allocation Comparison

Sectors	FTCE	DFND
Technology	38.9%	24.8%
Consumer Cyclical	11.9%	3.5%
Financial Services	10.6%	18.2%
Healthcare	8.7%	10.7%
Industrials	8.3%	17.1%
Communication Services	8.0%	0.8%
Consumer Defensive	4.2%	4.2%
Energy	3.5%	1.7%
Utilities	2.0%	-
Basic Materials	2.0%	4.3%
Real Estate	2.0%	2.0%

Return for Risk

FTCE vs. DFND — Risk / Return Rank

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

FTCE

FTCE Risk / Return Rank: 61
FTCE Sharpe Ratio Rank: 65
FTCE Sortino Ratio Rank: 64
FTCE Omega Ratio Rank: 63
FTCE Calmar Ratio Rank: 57
FTCE Martin Ratio Rank: 56

DFND

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FTCE vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust New Constructs Core Earnings Leaders ETF (FTCE) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FTCE	DFND	Difference
Sharpe ratio: Return per unit of total volatility	1.69	—	—
Sortino ratio: Return per unit of downside risk	2.35	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.28	—	—
Martin ratio: Return relative to average drawdown	7.70	—	—

Drawdowns

Drawdown Indicators

	FTCE	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-18.11%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	—	—
Current Drawdown Current decline from peak	-3.82%	—	—
Average Drawdown Average peak-to-trough decline	-2.60%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	—	—

Volatility

Volatility by Period

	FTCE	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.72%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	—	—

FTCE vs. DFND - Expense Ratio Comparison

FTCE has a 0.60% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

FTCE vs. DFND - Dividend Comparison

FTCE's dividend yield for the trailing twelve months is around 0.66%, while DFND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFND Siren DIVCON Dividend Defender ETF	0.29%	1.10%	1.64%	1.84%	0.29%	0.00%	0.00%	0.77%	0.53%	0.02%
FTCE First Trust New Constructs Core Earnings Leaders ETF	0.66%	0.96%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTCE and DFND in my portfolio?

FTCE and DFND have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTCE or DFND?

On fees, FTCE is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTCE or DFND?

FTCE is cheaper with a 0.60% expense ratio, compared with 1.50% for DFND.

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

FTCE has the higher dividend yield at 0.66%, compared with 0.29% for DFND.

What is the main difference between FTCE and DFND?

FTCE tracks Bloomberg New Constructs Core Earnings Leaders Index, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: First Trust and SRN Advisors. Their fees differ too: 0.60% for FTCE and 1.50% for DFND.