DFND
Reality Shares DIVCON Dividend Defender ETFDFND Fund Description
DFND 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
Reality Shares DIVCON Dividend Defender ETF has an MSCI ESG Fund Rating of A based on a score of 6.08 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
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. Reality Shares DIVCON Dividend Defender ETF ranks in the 69th percentile within its peer group and in the 85th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
DFND Charts And Performance
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DFND Portfolio Data
DFND Index Data
DFND Portfolio Management
DFND Tax Exposures
DFND Fund Structure
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 5 out of 5.
DFND Tradability
DFND Sector/Industry Breakdown
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DFND Top 10 Holdings[View All]
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DFND Economic Development
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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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