PRAY vs. DFND

Last updated Jun 4, 2026

PRAY (FIS Biblically Responsible Risk Managed ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds - PRAY tracks the NONE while DFND tracks the Siren DIVCON Dividend Defender Index. Both are passively managed. Over the past 3 years, PRAY returned 16.61%/yr vs 7.91%/yr for DFND. At a 0.40 correlation, their price movements are largely independent. PRAY charges 0.69%/yr vs 1.50%/yr for DFND.

Performance

PRAY vs. DFND - Performance Comparison

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

Returns By Period

PRAY

• 1D: -0.81%
• 1M: 3.83%
• YTD: 14.78%
• 6M: 14.02%
• 1Y: 21.06%
• 3Y*: 16.61%
• 5Y*: —
• 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)

PRAY vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PRAY FIS Biblically Responsible Risk Managed ETF	14.78%	9.08%	13.02%	20.02%	-13.49%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	12.13%	-11.09%

Correlation

The correlation between PRAY 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	0.19
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.40

Over the past year, the correlation between PRAY and DFND has dropped to 0.08 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

PRAY vs. DFND - Sectors Allocation Comparison

Sectors	PRAY	DFND
Technology	25.2%	24.8%
Industrials	15.3%	17.1%
Consumer Cyclical	14.3%	3.5%
Financial Services	12.5%	18.2%
Communication Services	8.6%	0.8%
Healthcare	7.7%	10.7%
Utilities	4.2%	-
Consumer Defensive	4.0%	4.2%
Energy	3.8%	1.7%
Basic Materials	3.0%	4.3%
Real Estate	1.6%	2.0%

Return for Risk

PRAY vs. DFND — Risk / Return Rank

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

PRAY

PRAY Risk / Return Rank: 51
PRAY Sharpe Ratio Rank: 49
PRAY Sortino Ratio Rank: 51
PRAY Omega Ratio Rank: 47
PRAY Calmar Ratio Rank: 49
PRAY Martin Ratio Rank: 60

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.

PRAY vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FIS Biblically Responsible Risk Managed ETF (PRAY) 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.

	PRAY	DFND	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.02	+1.65
Sortino ratio: Return per unit of downside risk	2.47	0.11	+2.36
Omega ratio: Gain probability vs. loss probability	1.29	1.02	+0.28
Calmar ratio: Return relative to maximum drawdown	2.40	0.07	+2.33
Martin ratio: Return relative to average drawdown	10.57	0.13	+10.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRAY vs. DFND - Sharpe Ratio Comparison

The current PRAY Sharpe Ratio is 1.67, which is higher than the DFND Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of PRAY 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

	PRAY	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	0.02	+1.65
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	0.59	0.36	+0.23

Drawdowns

PRAY vs. DFND - Drawdown Comparison

The maximum PRAY drawdown since its inception was -21.40%, smaller than the maximum DFND drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for PRAY and DFND.

Drawdown Indicators

	PRAY	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-21.40%	-22.65%	+1.25%
Max Drawdown (1Y) Largest decline over 1 year	-8.80%	-3.44%	-5.36%
Max Drawdown (3Y) Largest decline over 3 years	-17.13%	-12.56%	-4.57%
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	-0.81%	-3.69%	+2.88%
Average Drawdown Average peak-to-trough decline	-5.43%	-5.70%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	3.70%	-1.70%

Volatility

PRAY vs. DFND - Volatility Comparison

FIS Biblically Responsible Risk Managed ETF (PRAY) has a higher volatility of 4.21% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that PRAY'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

	PRAY	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	0.00%	+4.21%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	6.16%	+4.42%
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	10.92%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	22.46%	-6.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.00%	19.09%	-3.09%

PRAY vs. DFND - Expense Ratio Comparison

PRAY has a 0.69% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

PRAY vs. DFND - Dividend Comparison

PRAY's dividend yield for the trailing twelve months is around 0.60%, less 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%
PRAY FIS Biblically Responsible Risk Managed ETF	0.60%	0.69%	0.76%	0.83%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PRAY and DFND in my portfolio?

PRAY 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, PRAY or DFND?

PRAY has higher volatility (4.21%) compared to DFND (0.00%). In terms of maximum drawdown, PRAY dropped -21.40% vs DFND's -22.65%.

Which ETF is better, PRAY or DFND?

On 3-year performance, PRAY leads with 16.61% vs 7.91% for DFND. On fees, PRAY is cheaper at 0.69% 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, PRAY or DFND?

Over the 3-year period, PRAY has performed better with a 16.61% return vs 7.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRAY or DFND?

PRAY is cheaper with a 0.69% expense ratio, compared with 1.50% for DFND.

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

DFND has the higher dividend yield at 0.62%, compared with 0.60% for PRAY.

What is the main difference between PRAY and DFND?

PRAY tracks NONE, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: Faith Investor Services and SRN Advisors. Their fees differ too: 0.69% for PRAY and 1.50% for DFND.

Which has better risk-adjusted returns?

PRAY currently has the higher Sharpe Ratio (1.67 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.