DFNL vs SIXH
Davis Select Financial ETF vs ETC 6 Meridian Hedged Equity Index Option ETF
Which is better, DFNL or SIXH?
Each has led over a different period.
DFNL has a lower expense ratio. DFNL led over 3Y, 5Y and the full window, SIXH over 1Y. SIXH is less concentrated, with 33.6% of the fund in its ten largest positions against 56.8%.
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 | DFNL | SIXH |
|---|---|---|
| Expense Ratio | 0.63%Best | 0.73% |
| AUM | $442M | $605M |
| Dividend Yield | 1.37% | 1.78% |
| Holdings | 90 | 106 |
| YTD Return | -0.91% | +14.72%Best |
| 1Y Return | +8.37% | +17.59%Best |
| 3Y Return (annualized) | +22.68%Best | +13.16% |
| 5Y Return (annualized) | +10.68%Best | +9.95% |
| Volatility (annualized) | 19.2% | 9.1%Best |
| Max Drawdown | -26.3% | -11.7%Best |
| $10,000 over 5 years | $16,609Best | $16,069 |
| Top 10 Weight | 56.8% | 33.6%Best |
| Fund Family | Davis ETFs | 6 Meridian ETF |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jan 11, 2017 | May 11, 2020 |
Volatility and max drawdown are measured over the window both funds cover: May 11, 2020 to Oct 14, 2026 (6.4 years).
DFNL vs SIXH growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.4 years both funds cover.
DFNL vs SIXH Performance
Davis Select Financial ETF (DFNL) is an ETF from Davis ETFs and ETC 6 Meridian Hedged Equity Index Option ETF (SIXH) is an ETF from 6 Meridian ETF. Over the past year DFNL returned +8.37% while SIXH returned +17.59%. Year to date, DFNL is down 0.91% versus a gain of 14.72% for SIXH.
Over three years, DFNL compounded at +22.68% per year against +13.16% for SIXH; over five years the annualized figures are +10.68% and +9.95% respectively. Across the full 6-year window we track, DFNL has the edge at +19.19% annualized vs +10.89%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFNL has been the more volatile fund, with annualized monthly volatility of 19.2% compared with 9.1% for SIXH. 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 -26.3% for DFNL and -11.7% for SIXH. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.59. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DFNL charges 0.63% per year while SIXH charges 0.73%. On a $10,000 position that is $63 vs $73 annually, a gap of $10 per year that compounds over a long holding period. On income, DFNL currently yields 1.37% against 1.78% for SIXH.
Holdings Overlap
32.1% of DFNL's money is in holdings SIXH also owns. 8.4% of SIXH's money is in holdings DFNL also owns.
The two portfolios partly overlap.
6 positions in common, counted across the 30 positions we hold weights for in DFNL and 52 in SIXH, against full books of 90 and 106.
What only one of them owns
Our book lists 46 positions for SIXH that do not appear in our book for DFNL (92.3% of the fund), and 17 for DFNL that do not appear in SIXH (51.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
32.1% of DFNL is already inside SIXH.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFNL or SIXH?
DFNL has an expense ratio of 0.63% while SIXH charges 0.73%. DFNL is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, DFNL or SIXH?
Over the past year DFNL returned +8.37% vs +17.59% for SIXH, so SIXH leads on 1-year performance. Over the longest common window we track (6 years), DFNL annualized +19.19% vs +10.89% for SIXH. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFNL or SIXH?
DFNL has been the more volatile fund at 19.2% annualized versus 9.1% for SIXH. Worst drawdown: DFNL -26.3% vs SIXH -11.7%.
Should I hold both DFNL and SIXH?
DFNL and SIXH have a monthly-return correlation of 0.59, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DFNL and SIXH?
32.1% of DFNL's money is in holdings SIXH also owns. 8.4% of SIXH's is in holdings DFNL also owns. They hold 6 positions in common, counted across the 30 positions we hold weights for in DFNL and 52 in SIXH.
Which pays a higher dividend, DFNL or SIXH?
DFNL yields 1.37% while SIXH yields 1.78%, so SIXH currently pays the higher dividend yield.
Is SIXH better than DFNL?
DFNL has a lower expense ratio. DFNL led over 3Y, 5Y and the full window, SIXH over 1Y. SIXH is less concentrated, with 33.6% of the fund in its ten largest positions against 56.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.