KNG vs. DFND

Last updated Jun 4, 2026

KNG (FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both exchange-traded funds - KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series, while DFND is a Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index. Both are passively managed. Over the past 5 years, KNG returned 4.31%/yr vs 4.54%/yr for DFND. At a 0.46 correlation, their price movements are largely independent. KNG charges 0.75%/yr vs 1.50%/yr for DFND.

Performance

KNG vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KNG

• 1D: -0.04%
• 1M: 0.89%
• YTD: 2.20%
• 6M: 2.33%
• 1Y: 7.44%
• 3Y*: 7.06%
• 5Y*: 4.31%
• 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)

KNG vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	2.20%	6.63%	5.99%	7.48%	-7.03%	24.78%	7.21%	26.64%	-0.84%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	12.13%	-19.59%	14.80%	16.12%	19.53%	-2.07%

Correlation

The correlation between KNG 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 (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Mar 28, 2018	0.46

Over the past year, the correlation between KNG and DFND has dropped to 0.08 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

KNG vs. DFND - Sectors Allocation Comparison

Sectors	KNG	DFND
Consumer Defensive	23.5%	4.2%
Industrials	20.3%	17.1%
Financial Services	12.7%	18.2%
Basic Materials	10.2%	4.3%
Healthcare	10.1%	10.7%
Utilities	6.1%	-
Consumer Cyclical	5.5%	3.5%
Real Estate	4.4%	2.0%
Technology	4.3%	24.8%
Energy	3.0%	1.7%
Communication Services	-	0.8%

Return for Risk

KNG vs. DFND — Risk / Return Rank

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

KNG

KNG Risk / Return Rank: 20
KNG Sharpe Ratio Rank: 21
KNG Sortino Ratio Rank: 21
KNG Omega Ratio Rank: 19
KNG Calmar Ratio Rank: 20
KNG Martin Ratio Rank: 19

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.

KNG vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) 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.

	KNG	DFND	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.02	+0.71
Sortino ratio: Return per unit of downside risk	1.15	0.11	+1.04
Omega ratio: Gain probability vs. loss probability	1.13	1.02	+0.11
Calmar ratio: Return relative to maximum drawdown	0.87	0.07	+0.80
Martin ratio: Return relative to average drawdown	2.25	0.13	+2.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KNG vs. DFND - Sharpe Ratio Comparison

The current KNG Sharpe Ratio is 0.73, which is higher than the DFND Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of KNG 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

	KNG	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	0.02	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.21	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.36	+0.14

Drawdowns

KNG vs. DFND - Drawdown Comparison

The maximum KNG drawdown since its inception was -35.12%, which is greater than DFND's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for KNG and DFND.

Drawdown Indicators

	KNG	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-35.12%	-22.65%	-12.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-3.44%	-5.17%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	-12.56%	-1.68%
Max Drawdown (5Y) Largest decline over 5 years	-18.20%	-22.65%	+4.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.65%	—
Current Drawdown Current decline from peak	-5.89%	-3.69%	-2.20%
Average Drawdown Average peak-to-trough decline	-4.13%	-5.70%	+1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.70%	-0.38%

Volatility

KNG vs. DFND - Volatility Comparison

FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) has a higher volatility of 2.29% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that KNG'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

	KNG	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.29%	0.00%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	7.39%	6.16%	+1.23%
Volatility (1Y) Calculated over the trailing 1-year period	10.19%	10.92%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.59%	22.46%	-8.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	19.09%	-1.91%

KNG vs. DFND - Expense Ratio Comparison

KNG has a 0.75% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

KNG vs. DFND - Dividend Comparison

KNG's dividend yield for the trailing twelve months is around 8.67%, 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%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	8.67%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%	0.00%

Frequently Asked Questions

Can I hold both KNG and DFND in my portfolio?

KNG 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 is riskier, KNG or DFND?

KNG has higher volatility (2.29%) compared to DFND (0.00%). In terms of maximum drawdown, KNG dropped -35.12% vs DFND's -22.65%.

Which ETF is better, KNG or DFND?

On 5-year performance, DFND leads with 4.54% vs 4.31% for KNG. On fees, KNG is cheaper at 0.75% 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, KNG or DFND?

Over the 5-year period, DFND has performed better with a 4.54% return vs 4.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNG or DFND?

KNG is cheaper with a 0.75% expense ratio, compared with 1.50% for DFND.

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

KNG has the higher dividend yield at 8.67%, compared with 0.62% for DFND.

What is the main difference between KNG and DFND?

KNG is categorized as Dividend, while DFND is Large Cap Blend Equities. KNG tracks Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: First Trust and SRN Advisors. Their fees differ too: 0.75% for KNG and 1.50% for DFND.

Which has better risk-adjusted returns?

KNG currently has the higher Sharpe Ratio (0.73 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.