DFND vs MRNY
Siren DIVCON Dividend Defender ETF vs YieldMax MRNA Option Income Strategy ETF
Which is better, DFND or MRNY?
Each has led over a different period.
MRNY has a lower expense ratio. DFND led over the full window, MRNY over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DFND | MRNY |
|---|---|---|
| Expense Ratio | 1.75% | 1.00%Best |
| AUM | $9M | $243M |
| Dividend Yield | 0.95% | 41.90% |
| Holdings | 78 | 31 |
| Volatility (annualized) | 14.4%Best | 40.8% |
| Max Drawdown | -12.6%Best | -82.2% |
| $10,000 over 2.1 years | $11,956Best | $3,262 |
| Fund Family | SRN Advisors | YieldMax ETF |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Jan 14, 2016 | Oct 23, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 306 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. DFND has data through Dec 12, 2025 and MRNY through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Oct 24, 2023 to Dec 12, 2025 (2.1 years).
Risk: Volatility and Drawdowns
MRNY has been the more volatile fund, with annualized monthly volatility of 40.8% compared with 14.4% 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 -12.6% for DFND and -82.2% for MRNY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.11. They move largely independently of each other.
Fees and Cost Over Time
DFND charges 1.75% per year while MRNY charges 1.00%. On a $10,000 position that is $175 vs $100 annually, a gap of $75 per year that compounds over a long holding period. On income, DFND currently yields 0.95% against 41.90% for MRNY.
You are not choosing between two funds in isolation.
Whichever of DFND and MRNY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFND or MRNY?
DFND has an expense ratio of 1.75% while MRNY charges 1.00%. MRNY is the cheaper option, by $75 a year on a $10,000 investment.
Which is riskier, DFND or MRNY?
MRNY has been the more volatile fund at 40.8% annualized versus 14.4% for DFND. Worst drawdown: DFND -12.6% vs MRNY -82.2%.
Should I hold both DFND and MRNY?
DFND and MRNY have a monthly-return correlation of -0.11, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DFND or MRNY?
DFND yields 0.95% while MRNY yields 41.90%, so MRNY currently pays the higher dividend yield.
Is MRNY better than DFND?
MRNY has a lower expense ratio. DFND led over the full window, MRNY over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.