TEND vs. DYNF

Last updated Jun 25, 2026

TEND (iShares Large Cap 10% Target Buffer Dec ETF) and DYNF (iShares U.S. Equity Factor Rotation Active ETF) are both exchange-traded funds - TEND is a Defined Outcome fund actively managed by BlackRock, while DYNF is a Large Cap Blend Equities fund actively managed by iShares. Both are actively managed. Their correlation of 0.94 suggests significant overlap in exposure. TEND charges 0.50%/yr vs 0.26%/yr for DYNF.

Performance

TEND vs. DYNF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Dec ETF (TEND) and iShares U.S. Equity Factor Rotation Active ETF (DYNF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEND achieves a 5.70% return, which is significantly lower than DYNF's 9.79% return.

TEND

• 1D: -0.19%
• 1M: -0.37%
• YTD: 5.70%
• 6M: 4.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DYNF

• 1D: -0.23%
• 1M: -0.10%
• YTD: 9.79%
• 6M: 8.26%
• 1Y: 25.82%
• 3Y*: 25.10%
• 5Y*: 14.53%
• 10Y*: —

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

TEND vs. DYNF - Yearly Performance Comparison

	2026 (YTD)	2025
TEND iShares Large Cap 10% Target Buffer Dec ETF	5.70%	1.62%
DYNF iShares U.S. Equity Factor Rotation Active ETF	9.79%	2.90%

Correlation

The correlation between TEND and DYNF is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	0.94

Return for Risk

TEND vs. DYNF — Risk / Return Rank

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

TEND

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

DYNF

DYNF Risk / Return Rank: 69
DYNF Sharpe Ratio Rank: 68
DYNF Sortino Ratio Rank: 65
DYNF Omega Ratio Rank: 66
DYNF Calmar Ratio Rank: 66
DYNF Martin Ratio Rank: 79

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.

TEND vs. DYNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Dec ETF (TEND) and iShares U.S. Equity Factor Rotation Active ETF (DYNF). 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.

	TEND	DYNF	Difference
Sharpe ratio: Return per unit of total volatility	—	1.97	—
Sortino ratio: Return per unit of downside risk	—	2.68	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	2.99	—
Martin ratio: Return relative to average drawdown	—	13.96	—

Drawdowns

TEND vs. DYNF - Drawdown Comparison

The maximum TEND drawdown since its inception was -5.92%, smaller than the maximum DYNF drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for TEND and DYNF.

Drawdown Indicators

	TEND	DYNF	Difference
Max Drawdown Largest peak-to-trough decline	-5.92%	-34.72%	+28.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.67%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.65%	—
Current Drawdown Current decline from peak	-1.43%	-2.19%	+0.76%
Average Drawdown Average peak-to-trough decline	-0.77%	-5.94%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.85%	—

Volatility

Volatility by Period

	TEND	DYNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.32%	13.21%	-4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.32%	17.61%	-9.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.32%	19.91%	-11.59%

TEND vs. DYNF - Expense Ratio Comparison

TEND has a 0.50% expense ratio, which is higher than DYNF's 0.26% expense ratio.

Dividends

TEND vs. DYNF - Dividend Comparison

TEND's dividend yield for the trailing twelve months is around 0.13%, less than DYNF's 0.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DYNF iShares U.S. Equity Factor Rotation Active ETF	0.81%	1.01%	0.65%	1.11%	1.66%	2.89%	1.52%	1.22%
TEND iShares Large Cap 10% Target Buffer Dec ETF	0.13%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEND and DYNF in my portfolio?

With a correlation of 0.94, TEND and DYNF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TEND or DYNF?

On fees, DYNF is cheaper at 0.26% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEND or DYNF?

DYNF is cheaper with a 0.26% expense ratio, compared with 0.50% for TEND.

Which ETF pays a higher dividend yield, TEND or DYNF?

DYNF has the higher dividend yield at 0.81%, compared with 0.13% for TEND.

What is the main difference between TEND and DYNF?

TEND is categorized as Defined Outcome, while DYNF is Large Cap Blend Equities. They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.50% for TEND and 0.26% for DYNF.