TENM vs. DYNF

Last updated Jun 24, 2026

TENM (iShares Large Cap 10% Target Buffer Mar ETF) and DYNF (iShares U.S. Equity Factor Rotation Active ETF) are both exchange-traded funds - TENM 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 0.92 suggests significant overlap in exposure. TENM charges 0.50%/yr vs 0.26%/yr for DYNF.

Performance

TENM vs. DYNF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Mar ETF (TENM) 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, TENM achieves a 5.48% return, which is significantly lower than DYNF's 10.04% return.

TENM

• 1D: -0.48%
• 1M: -0.14%
• YTD: 5.48%
• 6M: 5.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DYNF

• 1D: -1.62%
• 1M: 0.13%
• YTD: 10.04%
• 6M: 8.91%
• 1Y: 27.42%
• 3Y*: 25.19%
• 5Y*: 14.71%
• 10Y*: —

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

TENM vs. DYNF - Yearly Performance Comparison

	2026 (YTD)	2025
TENM iShares Large Cap 10% Target Buffer Mar ETF	5.48%	2.04%
DYNF iShares U.S. Equity Factor Rotation Active ETF	10.04%	2.52%

Correlation

The correlation between TENM and DYNF is 0.92, 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 22, 2025	0.92

Return for Risk

TENM vs. DYNF — Risk / Return Rank

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

TENM

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

DYNF

DYNF Risk / Return Rank: 68
DYNF Sharpe Ratio Rank: 67
DYNF Sortino Ratio Rank: 63
DYNF Omega Ratio Rank: 65
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.

TENM vs. DYNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Mar ETF (TENM) 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.

	TENM	DYNF	Difference
Sharpe ratio: Return per unit of total volatility	—	2.09	—
Sortino ratio: Return per unit of downside risk	—	2.82	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	3.18	—
Martin ratio: Return relative to average drawdown	—	14.86	—

Drawdowns

TENM vs. DYNF - Drawdown Comparison

The maximum TENM drawdown since its inception was -3.61%, smaller than the maximum DYNF drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for TENM and DYNF.

Drawdown Indicators

	TENM	DYNF	Difference
Max Drawdown Largest peak-to-trough decline	-3.61%	-34.72%	+31.11%
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	-0.91%	-1.97%	+1.06%
Average Drawdown Average peak-to-trough decline	-0.70%	-5.94%	+5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.85%	—

Volatility

Volatility by Period

	TENM	DYNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.73%	13.24%	-6.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.73%	17.62%	-10.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.73%	19.91%	-13.18%

TENM vs. DYNF - Expense Ratio Comparison

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

Dividends

TENM vs. DYNF - Dividend Comparison

TENM's dividend yield for the trailing twelve months is around 0.28%, 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%
TENM iShares Large Cap 10% Target Buffer Mar ETF	0.28%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TENM and DYNF in my portfolio?

With a correlation of 0.92, TENM 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, TENM 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, TENM or DYNF?

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

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

DYNF has the higher dividend yield at 0.81%, compared with 0.28% for TENM.

What is the main difference between TENM and DYNF?

TENM 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 TENM and 0.26% for DYNF.