LEAD vs. DFND

Last updated Jul 17, 2026

LEAD (Siren DIVCON Leaders Dividend ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both exchange-traded funds - LEAD is a Large Cap Growth Equities fund tracking the Siren DIVCON Leaders Dividend Index, while DFND is a Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index. Both are passively managed. A 0.56 correlation means they provide meaningful diversification when combined. LEAD charges 0.43%/yr vs 1.50%/yr for DFND.

Performance

LEAD vs. DFND - Performance Comparison

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

Returns By Period

LEAD

• 1D: 0.00%
• 1M: -3.16%
• 6M: 7.38%
• YTD: 13.06%
• 1Y: 19.57%
• 3Y*: 15.45%
• 5Y*: 11.12%
• 10Y*: 14.17%

DFND

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

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

LEAD vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LEAD Siren DIVCON Leaders Dividend ETF	13.06%	15.52%	10.32%	26.25%	-18.16%	29.69%	23.41%	33.75%	-6.63%	24.89%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	12.13%	-19.59%	14.80%	16.12%	19.53%	-1.83%	16.33%

Correlation

The correlation between LEAD and DFND is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 14, 2016	0.56

Over the past year, the correlation between LEAD and DFND has dropped to 0.04 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

LEAD vs. DFND - Sectors Allocation Comparison

Sectors	LEAD	DFND
Technology	38.4%	24.8%
Industrials	31.9%	17.1%
Financial Services	17.0%	18.2%
Healthcare	6.1%	10.7%
Consumer Defensive	3.8%	4.2%
Consumer Cyclical	1.4%	3.5%
Energy	1.4%	1.7%
Communication Services	0.1%	0.8%
Basic Materials	-	4.3%
Real Estate	-	2.0%
Utilities	-	-

Return for Risk

LEAD vs. DFND — Risk / Return Rank

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

LEAD

LEAD Risk / Return Rank: 47
LEAD Sharpe Ratio Rank: 41
LEAD Sortino Ratio Rank: 40
LEAD Omega Ratio Rank: 39
LEAD Calmar Ratio Rank: 57
LEAD Martin Ratio Rank: 60

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.

LEAD vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren DIVCON Leaders Dividend ETF (LEAD) 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.

	LEAD	DFND	Difference
Sharpe ratio: Return per unit of total volatility	1.21	—	—
Sortino ratio: Return per unit of downside risk	1.71	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	8.28	—	—

Drawdowns

Drawdown Indicators

	LEAD	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-32.19%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.19%	—	—
Current Drawdown Current decline from peak	-6.25%	—	—
Average Drawdown Average peak-to-trough decline	-4.41%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	—	—

Volatility

Volatility by Period

	LEAD	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.68%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	—	—

LEAD vs. DFND - Expense Ratio Comparison

LEAD has a 0.43% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

LEAD vs. DFND - Dividend Comparison

LEAD's dividend yield for the trailing twelve months is around 0.58%, while DFND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
LEAD Siren DIVCON Leaders Dividend ETF	0.58%	0.70%	0.93%	1.13%	1.27%	1.79%	0.81%	1.32%	1.38%	0.97%	1.38%

Frequently Asked Questions

Can I hold both LEAD and DFND in my portfolio?

LEAD and DFND have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LEAD or DFND?

On fees, LEAD is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LEAD or DFND?

LEAD is cheaper with a 0.43% expense ratio, compared with 1.50% for DFND.

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

LEAD has the higher dividend yield at 0.58%, compared with 0.29% for DFND.

What is the main difference between LEAD and DFND?

LEAD is categorized as Large Cap Growth Equities, while DFND is Large Cap Blend Equities. LEAD tracks Siren DIVCON Leaders Dividend Index, while DFND tracks Siren DIVCON Dividend Defender Index. Their fees differ too: 0.43% for LEAD and 1.50% for DFND.