RCD.TO vs. DFND

Last updated Apr 2, 2026

Compare and contrast key facts about RBC Quant Canadian Dividend Leaders ETF (RCD.TO) and Siren DIVCON Dividend Defender ETF (DFND).

RCD.TO and DFND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RCD.TO is managed by RBC. DFND is a passively managed fund by SRN Advisors that tracks the performance of the Siren DIVCON Dividend Defender Index. It was launched on Jan 14, 2016.

Performance

RCD.TO vs. DFND - Performance Comparison

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

RCD.TO vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RCD.TO RBC Quant Canadian Dividend Leaders ETF	6.29%	21.74%	10.79%	10.31%	-3.37%	27.62%	-1.89%	21.59%	-11.38%	5.76%
DFND Siren DIVCON Dividend Defender ETF	0.91%	5.68%	17.79%	9.66%	-13.86%	13.76%	14.15%	13.66%	6.49%	8.92%

Different Trading Currencies

RCD.TO is traded in CAD, while DFND is traded in USD. To make them comparable, the DFND values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, RCD.TO achieves a 6.29% return, which is significantly higher than DFND's 0.91% return. Over the past 10 years, RCD.TO has outperformed DFND with an annualized return of 9.54%, while DFND has yielded a comparatively lower 7.51% annualized return.

RCD.TO

• 1D: 0.69%
• 1M: -3.67%
• YTD: 6.29%
• 6M: 2.92%
• 1Y: 24.50%
• 3Y*: 15.06%
• 5Y*: 11.90%
• 10Y*: 9.54%

DFND

• 1D: -0.14%
• 1M: 1.63%
• YTD: 0.91%
• 6M: 0.82%
• 1Y: 2.63%
• 3Y*: 9.55%
• 5Y*: 6.74%
• 10Y*: 7.51%

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

RCD.TO vs. DFND - Expense Ratio Comparison

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

DFND

Siren DIVCON Dividend Defender ETF

RCD.TO

RBC Quant Canadian Dividend Leaders ETF

Return for Risk

RCD.TO vs. DFND — Risk / Return Rank

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

RCD.TO

RCD.TO Risk / Return Rank: 78
RCD.TO Sharpe Ratio Rank: 81
RCD.TO Sortino Ratio Rank: 73
RCD.TO Omega Ratio Rank: 86
RCD.TO Calmar Ratio Rank: 79
RCD.TO Martin Ratio Rank: 71

DFND

DFND Risk / Return Rank: 24
DFND Sharpe Ratio Rank: 22
DFND Sortino Ratio Rank: 23
DFND Omega Ratio Rank: 24
DFND Calmar Ratio Rank: 27
DFND Martin Ratio Rank: 23

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.

RCD.TO vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Quant Canadian Dividend Leaders ETF (RCD.TO) 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.

	RCD.TO	DFND	Difference
Sharpe ratio Return per unit of total volatility	1.65	0.16	+1.49
Sortino ratio Return per unit of downside risk	1.94	0.37	+1.57
Omega ratio Gain probability vs. loss probability	1.36	1.05	+0.31
Calmar ratio Return relative to maximum drawdown	2.44	0.12	+2.32
Martin ratio Return relative to average drawdown	8.25	0.33	+7.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RCD.TO vs. DFND - Sharpe Ratio Comparison

The current RCD.TO Sharpe Ratio is 1.65, which is higher than the DFND Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of RCD.TO and DFND, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RCD.TO	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	0.16	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.31	+0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.40	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.34	+0.19

Correlation

The correlation between RCD.TO and DFND is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

RCD.TO vs. DFND - Dividend Comparison

RCD.TO's dividend yield for the trailing twelve months is around 3.03%, more than DFND's 0.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RCD.TO RBC Quant Canadian Dividend Leaders ETF	3.03%	3.07%	3.17%	3.39%	3.36%	2.34%	3.45%	3.12%	3.64%	3.01%	3.08%	3.62%
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%

Drawdowns

RCD.TO vs. DFND - Drawdown Comparison

The maximum RCD.TO drawdown since its inception was -38.07%, which is greater than DFND's maximum drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for RCD.TO and DFND.

Drawdown Indicators

	RCD.TO	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-38.07%	-22.65%	-15.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-7.48%	-2.67%
Max Drawdown (5Y) Largest decline over 5 years	-16.68%	-22.65%	+5.97%
Max Drawdown (10Y) Largest decline over 10 years	-38.07%	-22.65%	-15.42%
Current Drawdown Current decline from peak	-3.67%	-3.69%	+0.02%
Average Drawdown Average peak-to-trough decline	-5.48%	-5.73%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.81%	-0.80%

Volatility

RCD.TO vs. DFND - Volatility Comparison

RBC Quant Canadian Dividend Leaders ETF (RCD.TO) has a higher volatility of 4.75% compared to Siren DIVCON Dividend Defender ETF (DFND) at 1.28%. This indicates that RCD.TO'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

	RCD.TO	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	1.28%	+3.47%
Volatility (6M) Calculated over the trailing 6-month period	12.72%	8.88%	+3.84%
Volatility (1Y) Calculated over the trailing 1-year period	14.88%	19.24%	-4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.22%	22.36%	-9.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.47%	19.20%	-4.73%