DFND
Reality Shares DIVCON Dividend Defender ETFDFND Fund Description
The Reality Shares DIVCON Dividend Defender ETF tracks an index of dividend-paying US large-cap stocks that are likely to increase dividends, while shorting those that are unlikely to do so. At rebalance, the fund is 75% long, 25% short.
DFND Factset Analytics Insight
DFND holds US large-cap stocks with rising dividends, while shorting those without. The issuer uses a proprietary model to score the 500 largest US firms on their likelihood of increasing dividends in the next year. Holdings for both the long and short portfolios are selected and weighted by this score, known as the DIVCON dividend health score. The DIVCON score is rules-based, but the metrics are not disclosed. Note that stocks with high DIVCON scores are expected to raise their dividends, but aren't necessarily high dividend payers.Unlike many long/short ETFs, DFND does not leverage its long portfolio against its short positions. This means the fund will experience only half the market risk—and return—of a plain-vanilla large-cap fund. DFND is part of a DIVCON-based suite of ETFs, including siblings LEAD (long only) and GARD (variable long/short exposure). The fund charges a steep fee for the competitive US large-cap space, though it’s not quite as bad as at looks—DFND is required to report short interest expense and dividend payments on its short positions as part of its expense ratio. Unfortunately, the fund hasn’t seen much investor interest and is very difficult to trade.
DFND MSCI ESG Analytics Insight
The MSCI ESG Fund Quality Score measures the ability of ETF underlying holdings to manage key medium to long-term risks and opportunities arising from environmental, social, and governance factors, as determined by MSCI ESG Research LLC. As of September 19, 2018 the Reality Shares DIVCON Dividend Defender ETF MSCI ESG Fund Quality Score is 5.95 out of 10.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. DFND ranks in the 90th percentile within its peer group and in the 66th percentile within the global universe of all funds in MSCI ESG Fund Metrics coverage.
DFND CHARTS AND PERFORMANCE
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DFND Top 10 Countries
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DFND Top 10 Holdings [View All]
DFND Portfolio Data
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DFND Portfolio Management
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DFND Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of DFND. DFND is rated a 4 out of 5.
DFND Tradability
DFND Sector/Industry Breakdown
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DFND TOP 10 HOLDINGS[View All]
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DFND Performance Statistics
DFND MSCI ESG Ratings
DFND BENCHMARK COMPARISON SUMMARY
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DFND BENCHMARK COMPARISON MARKET CAP SIZE
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MSCI ESG Research LLC’s ("MSCI ESG") Fund Metrics products (the "Information") provide environmental, social and governance data with respect to underlying securities within more than 24,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted to, nor received approval from, the US SEC or any other regulatory body. None of the Information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information.