DFND vs SPY
Siren DIVCON Dividend Defender ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DFND | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.75% | 0.09% | |
| AUM | $9M | $789.1B | |
| Dividend Yield | 0.95% | 1.01% | |
| Holdings | 78 | 505 | |
| YTD Return | +6.97% | +13.75% | |
| 1Y Return | +0.06% | +22.91% | |
| 3Y Return (annualized) | +8.78% | +21.67% | |
| 5Y Return (annualized) | +4.37% | +13.32% | |
| Volatility (annualized) | 10.8% | 15.3% | |
| Max Drawdown | -22.6% | -56.5% | |
| Fund Family | SRN Advisors | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 14, 2016 | Jan 22, 1993 |
DFND vs SPY Performance
Siren DIVCON Dividend Defender ETF (DFND) is a ETF from SRN Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DFND returned +0.06% while SPY returned +22.91%. Year to date, DFND is up 6.97% versus a gain of 13.75% for SPY.
Over three years, DFND compounded at +8.78% per year against +21.67% for SPY; over five years the annualized figures are +4.37% and +13.32% respectively. Across the full 10-year window we track, SPY has the edge at +8.85% annualized vs +6.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.8% for DFND. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -22.6% for DFND and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DFND charges 1.75% per year while SPY charges 0.09%. On a $10,000 position that is $175 vs $9 annually, a gap of $166 per year that compounds over a long holding period. On income, DFND currently yields 0.95% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, DFND or SPY?
DFND has an expense ratio of 1.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $166 per year of difference.
Which performed better, DFND or SPY?
Over the past year DFND returned +0.06% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), DFND annualized +6.80% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DFND or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.8% for DFND. Worst drawdown: DFND -22.6% vs SPY -56.5%.
Should I hold both DFND and SPY?
DFND and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, DFND or SPY?
DFND yields 0.95% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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