AMND vs. MTUL

Last updated Jun 4, 2026

AMND (ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050) and MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) are both exchange-traded funds - AMND is a Energy Equities fund tracking the Alerian Midstream Energy Dividend Index, while MTUL is a Momentum fund tracking the MSCI USA Momentum Index. Both are passively managed. At a 0.37 correlation, their price movements are largely independent. AMND charges 0.75%/yr vs 0.95%/yr for MTUL.

Performance

AMND vs. MTUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050 (AMND) and ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AMND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUL

• 1D: -0.74%
• 1M: 27.97%
• YTD: 60.22%
• 6M: 59.66%
• 1Y: 75.85%
• 3Y*: 59.49%
• 5Y*: 19.95%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMND vs. MTUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AMND ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050	0.00%	0.00%	40.42%	13.60%	21.27%	23.23%
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN	60.22%	27.42%	58.70%	10.66%	-37.97%	7.00%

Correlation

The correlation between AMND and MTUL is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021	0.37

The correlation between AMND and MTUL shifts across timeframes, from 0.16 (3 years) to 0.40 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AMND vs. MTUL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MTUL

MTUL Risk / Return Rank: 56
MTUL Sharpe Ratio Rank: 50
MTUL Sortino Ratio Rank: 47
MTUL Omega Ratio Rank: 50
MTUL Calmar Ratio Rank: 64
MTUL Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMND vs. MTUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050 (AMND) and ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AMND	MTUL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.73	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.41	—

Drawdowns

Drawdown Indicators

	AMND	MTUL	Difference
Max Drawdown Largest peak-to-trough decline	—	-56.83%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-23.86%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-39.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.83%	—
Current Drawdown Current decline from peak	—	-0.74%	—
Average Drawdown Average peak-to-trough decline	—	-22.68%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.96%	—

Volatility

Volatility by Period

	AMND	MTUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	37.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	43.98%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	42.81%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	43.65%	—

AMND vs. MTUL - Expense Ratio Comparison

AMND has a 0.75% expense ratio, which is lower than MTUL's 0.95% expense ratio.

Dividends

AMND vs. MTUL - Dividend Comparison

Neither AMND nor MTUL has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
AMND ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050	0.00%	0.00%	5.14%	6.56%	6.37%	7.10%	2.49%
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMND and MTUL in my portfolio?

AMND and MTUL have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMND or MTUL?

On fees, AMND is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMND or MTUL?

AMND is cheaper with a 0.75% expense ratio, compared with 0.95% for MTUL.

Which ETF pays a higher dividend yield, AMND or MTUL?

AMND and MTUL have nearly identical dividend yields, around 0.00%.

What is the main difference between AMND and MTUL?

AMND is categorized as Energy Equities, while MTUL is Momentum. AMND tracks Alerian Midstream Energy Dividend Index, while MTUL tracks MSCI USA Momentum Index. Their fees differ too: 0.75% for AMND and 0.95% for MTUL.