TMFE vs. DFND

Last updated Jun 4, 2026

TMFE (The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both Large Cap Blend Equities funds - TMFE tracks the Motley Fool Capital Efficiency 100 Index while DFND tracks the Siren DIVCON Dividend Defender Index. Both are passively managed. Over the past 3 years, TMFE returned 18.83%/yr vs 7.91%/yr for DFND. At a 0.42 correlation, their price movements are largely independent. TMFE charges 0.50%/yr vs 1.50%/yr for DFND.

Performance

TMFE vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF (TMFE) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMFE

• 1D: -0.63%
• 1M: 1.94%
• YTD: 1.48%
• 6M: 1.24%
• 1Y: 7.52%
• 3Y*: 18.83%
• 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)

TMFE vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TMFE The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF	1.48%	11.10%	27.95%	41.12%	-25.84%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	12.13%	-19.59%

Correlation

The correlation between TMFE and DFND is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 3, 2022	0.42

Over the past year, the correlation between TMFE and DFND has dropped to 0.12 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

TMFE vs. DFND - Sectors Allocation Comparison

Sectors	TMFE	DFND
Technology	30.0%	24.8%
Consumer Cyclical	18.1%	3.5%
Communication Services	16.1%	0.8%
Consumer Defensive	10.8%	4.2%
Financial Services	9.4%	18.2%
Healthcare	9.3%	10.7%
Industrials	4.5%	17.1%
Basic Materials	1.9%	4.3%
Energy	-	1.7%
Real Estate	-	2.0%
Utilities	-	-

Return for Risk

TMFE vs. DFND — Risk / Return Rank

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

TMFE

TMFE Risk / Return Rank: 19
TMFE Sharpe Ratio Rank: 19
TMFE Sortino Ratio Rank: 18
TMFE Omega Ratio Rank: 18
TMFE Calmar Ratio Rank: 17
TMFE Martin Ratio Rank: 21

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.

TMFE vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF (TMFE) 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.

	TMFE	DFND	Difference
Sharpe ratio: Return per unit of total volatility	0.62	0.02	+0.60
Sortino ratio: Return per unit of downside risk	0.95	0.11	+0.84
Omega ratio: Gain probability vs. loss probability	1.11	1.02	+0.09
Calmar ratio: Return relative to maximum drawdown	0.67	0.07	+0.60
Martin ratio: Return relative to average drawdown	2.49	0.13	+2.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMFE vs. DFND - Sharpe Ratio Comparison

The current TMFE Sharpe Ratio is 0.62, which is higher than the DFND Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of TMFE 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

	TMFE	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	0.02	+0.60
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	0.51	0.36	+0.15

Drawdowns

TMFE vs. DFND - Drawdown Comparison

The maximum TMFE drawdown since its inception was -31.07%, which is greater than DFND's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for TMFE and DFND.

Drawdown Indicators

	TMFE	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-31.07%	-22.65%	-8.42%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-3.44%	-7.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.81%	-12.56%	-6.25%
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	-1.83%	-3.69%	+1.86%
Average Drawdown Average peak-to-trough decline	-8.27%	-5.70%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.70%	-0.68%

Volatility

TMFE vs. DFND - Volatility Comparison

The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF (TMFE) has a higher volatility of 2.84% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that TMFE'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

	TMFE	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	0.00%	+2.84%
Volatility (6M) Calculated over the trailing 6-month period	9.16%	6.16%	+3.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	10.92%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.26%	22.46%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	19.09%	+0.17%

TMFE vs. DFND - Expense Ratio Comparison

TMFE has a 0.50% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

TMFE vs. DFND - Dividend Comparison

TMFE's dividend yield for the trailing twelve months is around 0.31%, 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%
TMFE The RBB Fund, Inc. - Motley Fool High Capital Efficiency Index ETF	0.31%	0.32%	0.44%	0.45%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMFE and DFND in my portfolio?

TMFE and DFND have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMFE or DFND?

TMFE has higher volatility (2.84%) compared to DFND (0.00%). In terms of maximum drawdown, TMFE dropped -31.07% vs DFND's -22.65%.

Which ETF is better, TMFE or DFND?

On 3-year performance, TMFE leads with 18.83% vs 7.91% for DFND. On fees, TMFE is cheaper at 0.50% 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, TMFE or DFND?

Over the 3-year period, TMFE has performed better with a 18.83% return vs 7.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMFE or DFND?

TMFE is cheaper with a 0.50% expense ratio, compared with 1.50% for DFND.

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

DFND has the higher dividend yield at 0.62%, compared with 0.31% for TMFE.

What is the main difference between TMFE and DFND?

TMFE tracks Motley Fool Capital Efficiency 100 Index, while DFND tracks Siren DIVCON Dividend Defender Index. They also come from different issuers: RBB Fund and SRN Advisors. Their fees differ too: 0.50% for TMFE and 1.50% for DFND.

Which has better risk-adjusted returns?

TMFE currently has the higher Sharpe Ratio (0.62 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.