TEXN vs. DFND

Last updated Jun 4, 2026

TEXN (iShares Texas Equity ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds - TEXN tracks the Russell Texas Equity Index while DFND tracks the Siren DIVCON Dividend Defender Index. Both are passively managed. At a 0.10 correlation, their price movements are largely independent. TEXN charges 0.20%/yr vs 1.50%/yr for DFND.

Performance

TEXN vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Texas Equity ETF (TEXN) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEXN

• 1D: -0.24%
• 1M: 5.35%
• YTD: 25.94%
• 6M: 24.41%
• 1Y: —
• 3Y*: —
• 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)

TEXN vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025
TEXN iShares Texas Equity ETF	25.94%	8.16%
DFND Siren DIVCON Dividend Defender ETF	0.00%	-0.25%

Correlation

The correlation between TEXN and DFND is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.10

TEXN vs. DFND - Sectors Allocation Comparison

Sectors	TEXN	DFND
Energy	36.1%	1.7%
Industrials	16.9%	17.1%
Technology	15.5%	24.8%
Consumer Cyclical	10.8%	3.5%
Real Estate	4.2%	2.0%
Financial Services	4.1%	18.2%
Communication Services	3.6%	0.8%
Utilities	2.9%	-
Healthcare	2.9%	10.7%
Consumer Defensive	2.1%	4.2%
Basic Materials	0.8%	4.3%

Return for Risk

TEXN vs. DFND — Risk / Return Rank

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

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.

TEXN vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Texas Equity ETF (TEXN) 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.

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

Sharpe Ratios by Period

	TEXN	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.02	—
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	2.75	0.36	+2.39

Drawdowns

TEXN vs. DFND - Drawdown Comparison

The maximum TEXN drawdown since its inception was -6.34%, smaller than the maximum DFND drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for TEXN and DFND.

Drawdown Indicators

	TEXN	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-6.34%	-22.65%	+16.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.44%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.56%	—
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	-0.24%	-3.69%	+3.45%
Average Drawdown Average peak-to-trough decline	-1.12%	-5.70%	+4.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.70%	—

Volatility

Volatility by Period

	TEXN	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	10.92%	+3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.19%	22.46%	-8.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.19%	19.09%	-4.90%

TEXN vs. DFND - Expense Ratio Comparison

TEXN has a 0.20% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

TEXN vs. DFND - Dividend Comparison

TEXN's dividend yield for the trailing twelve months is around 1.01%, more 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%
TEXN iShares Texas Equity ETF	1.01%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEXN and DFND in my portfolio?

TEXN and DFND have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEXN or DFND?

On fees, TEXN is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEXN or DFND?

TEXN is cheaper with a 0.20% expense ratio, compared with 1.50% for DFND.

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

TEXN has the higher dividend yield at 1.01%, compared with 0.62% for DFND.

What is the main difference between TEXN and DFND?

TEXN tracks Russell Texas Equity Index, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: iShares and SRN Advisors. Their fees differ too: 0.20% for TEXN and 1.50% for DFND.