POWA vs. DFND

Last updated Jun 4, 2026

POWA (Invesco Bloomberg Pricing Power ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds - POWA tracks the Bloomberg Pricing Power Index while DFND tracks the Siren DIVCON Dividend Defender Index. Both are passively managed. Over the past 10 years, POWA returned 10.28%/yr vs 7.16%/yr for DFND. At a 0.49 correlation, their price movements are largely independent. POWA charges 0.40%/yr vs 1.50%/yr for DFND.

Performance

POWA vs. DFND - Performance Comparison

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

Returns By Period

Over the past 10 years, POWA has outperformed DFND with an annualized return of 10.28%, while DFND has yielded a comparatively lower 7.16% annualized return.

POWA

• 1D: 0.04%
• 1M: 0.44%
• YTD: -2.29%
• 6M: -2.55%
• 1Y: 4.21%
• 3Y*: 10.86%
• 5Y*: 7.41%
• 10Y*: 10.28%

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)

POWA vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
POWA Invesco Bloomberg Pricing Power ETF	-2.29%	11.71%	13.18%	10.58%	-7.67%	24.93%	7.61%	27.98%	-3.96%	21.52%
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 POWA and DFND is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 15, 2016	0.49

Over the past year, the correlation between POWA and DFND has dropped to 0.09 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

POWA vs. DFND - Sectors Allocation Comparison

Sectors	POWA	DFND
Technology	25.3%	24.8%
Industrials	19.0%	17.1%
Healthcare	18.4%	10.7%
Consumer Defensive	16.1%	4.2%
Consumer Cyclical	14.8%	3.5%
Financial Services	2.3%	18.2%
Real Estate	2.2%	2.0%
Communication Services	2.0%	0.8%
Basic Materials	-	4.3%
Energy	-	1.7%
Utilities	-	-

Return for Risk

POWA vs. DFND — Risk / Return Rank

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

POWA

POWA Risk / Return Rank: 14
POWA Sharpe Ratio Rank: 14
POWA Sortino Ratio Rank: 14
POWA Omega Ratio Rank: 13
POWA Calmar Ratio Rank: 14
POWA Martin Ratio Rank: 15

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.

POWA vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Pricing Power ETF (POWA) 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.

	POWA	DFND	Difference
Sharpe ratio: Return per unit of total volatility	0.36	0.02	+0.34
Sortino ratio: Return per unit of downside risk	0.61	0.11	+0.50
Omega ratio: Gain probability vs. loss probability	1.07	1.02	+0.05
Calmar ratio: Return relative to maximum drawdown	0.43	0.07	+0.36
Martin ratio: Return relative to average drawdown	1.18	0.13	+1.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

POWA vs. DFND - Sharpe Ratio Comparison

The current POWA Sharpe Ratio is 0.36, which is higher than the DFND Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of POWA 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

	POWA	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.36	0.02	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.21	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.38	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.36	+0.18

Drawdowns

POWA vs. DFND - Drawdown Comparison

The maximum POWA drawdown since its inception was -47.91%, which is greater than DFND's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for POWA and DFND.

Drawdown Indicators

	POWA	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-47.91%	-22.65%	-25.26%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-3.44%	-6.32%
Max Drawdown (3Y) Largest decline over 3 years	-15.00%	-12.56%	-2.44%
Max Drawdown (5Y) Largest decline over 5 years	-17.75%	-22.65%	+4.90%
Max Drawdown (10Y) Largest decline over 10 years	-36.53%	-22.65%	-13.88%
Current Drawdown Current decline from peak	-6.44%	-3.69%	-2.75%
Average Drawdown Average peak-to-trough decline	-6.24%	-5.70%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	3.70%	-0.11%

Volatility

POWA vs. DFND - Volatility Comparison

Invesco Bloomberg Pricing Power ETF (POWA) has a higher volatility of 3.12% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that POWA'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

	POWA	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	0.00%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	8.80%	6.16%	+2.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	10.92%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	22.46%	-8.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	19.09%	-3.04%

POWA vs. DFND - Expense Ratio Comparison

POWA has a 0.40% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

POWA vs. DFND - Dividend Comparison

POWA's dividend yield for the trailing twelve months is around 0.96%, more than DFND's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
POWA Invesco Bloomberg Pricing Power ETF	0.96%	0.94%	0.79%	1.60%	1.48%	1.06%	1.34%	1.16%	1.39%	1.63%	2.18%	3.31%

Frequently Asked Questions

Can I hold both POWA and DFND in my portfolio?

POWA and DFND have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POWA or DFND?

POWA has higher volatility (3.12%) compared to DFND (0.00%). In terms of maximum drawdown, POWA dropped -47.91% vs DFND's -22.65%.

Which ETF is better, POWA or DFND?

On 10-year performance, POWA leads with 10.28% vs 7.16% for DFND. On fees, POWA is cheaper at 0.40% 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, POWA or DFND?

Over the 10-year period, POWA has performed better with a 10.28% return vs 7.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, POWA or DFND?

POWA is cheaper with a 0.40% expense ratio, compared with 1.50% for DFND.

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

POWA has the higher dividend yield at 0.96%, compared with 0.62% for DFND.

What is the main difference between POWA and DFND?

POWA tracks Bloomberg Pricing Power Index, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: Invesco and SRN Advisors. Their fees differ too: 0.40% for POWA and 1.50% for DFND.

Which has better risk-adjusted returns?

POWA currently has the higher Sharpe Ratio (0.36 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.