AMUB vs. HDLB
AMUB (ETRACS Alerian MLP Index ETN Class B) and HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) are both exchange-traded funds - AMUB is a MLPs fund tracking the Alerian MLP Index, while HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%). Both are passively managed. Over the past 5 years, AMUB returned 11.55%/yr vs 12.53%/yr for HDLB. A 0.51 correlation means they provide meaningful diversification when combined. AMUB charges 0.80%/yr vs 1.65%/yr for HDLB.
Performance
AMUB vs. HDLB - Performance Comparison
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Returns By Period
In the year-to-date period, AMUB achieves a 14.01% return, which is significantly higher than HDLB's 12.54% return.
AMUB
- 1D
- 1.92%
- 1M
- -7.94%
- YTD
- 14.01%
- 6M
- 13.63%
- 1Y
- 13.10%
- 3Y*
- 15.44%
- 5Y*
- 11.55%
- 10Y*
- 2.79%
HDLB
- 1D
- 4.54%
- 1M
- -2.98%
- YTD
- 12.54%
- 6M
- 14.64%
- 1Y
- 18.01%
- 3Y*
- 28.22%
- 5Y*
- 12.53%
- 10Y*
- —
AMUB vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AMUB ETRACS Alerian MLP Index ETN Class B | 14.01% | 2.05% | 15.68% | 16.89% | 21.91% | 28.83% | -36.47% | -1.29% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 12.54% | 27.26% | 28.21% | -4.12% | -11.46% | 62.67% | -50.94% | 8.33% |
Correlation
The correlation between AMUB and HDLB is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.51 |
The correlation between AMUB and HDLB shifts across timeframes, from 0.36 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AMUB vs. HDLB — Risk / Return Rank
AMUB
HDLB
AMUB vs. HDLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian MLP Index ETN Class B (AMUB) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AMUB | HDLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.13 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.12 | +0.12 |
| Martin ratioReturn relative to average drawdown | 3.36 | 2.52 | +0.83 |
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Drawdowns
AMUB vs. HDLB - Drawdown Comparison
The maximum AMUB drawdown since its inception was -79.46%, roughly equal to the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for AMUB and HDLB.
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Drawdown Indicators
| AMUB | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.46% | -78.70% | -0.76% |
Max Drawdown (1Y)Largest decline over 1 year | -10.69% | -16.17% | +5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -17.22% | -22.46% | +5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -20.58% | -43.81% | +23.23% |
Max Drawdown (10Y)Largest decline over 10 years | -78.86% | — | — |
Current DrawdownCurrent decline from peak | -8.53% | -11.92% | +3.39% |
Average DrawdownAverage peak-to-trough decline | -29.11% | -27.33% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 7.15% | -3.23% |
Volatility
AMUB vs. HDLB - Volatility Comparison
The current volatility for ETRACS Alerian MLP Index ETN Class B (AMUB) is 5.28%, while ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) has a volatility of 9.49%. This indicates that AMUB experiences smaller price fluctuations and is considered to be less risky than HDLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMUB | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 9.49% | -4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 19.68% | -9.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.85% | 27.28% | -13.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.12% | 30.69% | -10.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.13% | 43.52% | -16.39% |
AMUB vs. HDLB - Expense Ratio Comparison
AMUB has a 0.80% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Dividends
AMUB vs. HDLB - Dividend Comparison
AMUB has not paid dividends to shareholders, while HDLB's dividend yield for the trailing twelve months is around 11.27%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AMUB ETRACS Alerian MLP Index ETN Class B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 11.27% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
Frequently Asked Questions
AMUB and HDLB have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDLB has higher volatility (9.49%) compared to AMUB (5.28%). In terms of maximum drawdown, AMUB dropped -79.46% vs HDLB's -78.70%.
On 5-year performance, HDLB leads with 12.53% vs 11.55% for AMUB. On fees, AMUB is cheaper at 0.80% per year. On volatility, AMUB has been the lower-risk option at 5.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HDLB has performed better with a 12.53% return vs 11.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AMUB is cheaper with a 0.80% expense ratio, compared with 1.65% for HDLB.
HDLB has the higher dividend yield at 11.27%, compared with 0.00% for AMUB.
AMUB is categorized as MLPs, while HDLB is Leveraged Equities. AMUB tracks Alerian MLP Index, while HDLB tracks Solactive US High Dividend Low Volatility (USD)(TR) (200%). Their fees differ too: 0.80% for AMUB and 1.65% for HDLB.
AMUB currently has the higher Sharpe Ratio (0.96 vs 0.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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