AMUB vs. SMHB

Last updated Apr 1, 2026

Compare and contrast key facts about ETRACS Alerian MLP Index ETN Class B (AMUB) and ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB).

AMUB and SMHB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AMUB is a passively managed fund by UBS that tracks the performance of the Alerian MLP Index. It was launched on Oct 8, 2015. SMHB is a passively managed fund by UBS that tracks the performance of the Solactive US Small Cap High Dividend Index (200%). It was launched on Nov 8, 2018. Both AMUB and SMHB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AMUB vs. SMHB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Alerian MLP Index ETN Class B (AMUB) and ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB). The values are adjusted to include any dividend payments, if applicable.

AMUB vs. SMHB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AMUB ETRACS Alerian MLP Index ETN Class B	16.54%	8.70%	23.05%	25.39%	29.89%	38.64%	-29.50%	6.26%	-18.55%
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B	-2.38%	-7.75%	-15.85%	35.96%	-36.03%	68.86%	-43.21%	13.05%	-24.78%

Returns By Period

In the year-to-date period, AMUB achieves a 16.54% return, which is significantly higher than SMHB's -2.38% return.

AMUB

• 1D: -1.33%
• 1M: 1.05%
• YTD: 16.54%
• 6M: 20.87%
• 1Y: 12.97%
• 3Y*: 23.44%
• 5Y*: 23.20%
• 10Y*: 10.32%

SMHB

• 1D: 2.54%
• 1M: -7.17%
• YTD: -2.38%
• 6M: -10.57%
• 1Y: -6.07%
• 3Y*: 4.53%
• 5Y*: -5.55%
• 10Y*: —

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

AMUB vs. SMHB - Expense Ratio Comparison

AMUB has a 0.80% expense ratio, which is lower than SMHB's 0.85% expense ratio.

SMHB

ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B

AMUB

ETRACS Alerian MLP Index ETN Class B

Return for Risk

AMUB vs. SMHB — Risk / Return Rank

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

AMUB

AMUB Risk / Return Rank: 33
AMUB Sharpe Ratio Rank: 38
AMUB Sortino Ratio Rank: 35
AMUB Omega Ratio Rank: 39
AMUB Calmar Ratio Rank: 30
AMUB Martin Ratio Rank: 25

SMHB

SMHB Risk / Return Rank: 10
SMHB Sharpe Ratio Rank: 9
SMHB Sortino Ratio Rank: 13
SMHB Omega Ratio Rank: 12
SMHB Calmar Ratio Rank: 8
SMHB Martin Ratio Rank: 7

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.

AMUB vs. SMHB - 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 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB). 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.

	AMUB	SMHB	Difference
Sharpe ratio Return per unit of total volatility	0.69	-0.12	+0.81
Sortino ratio Return per unit of downside risk	0.98	0.18	+0.80
Omega ratio Gain probability vs. loss probability	1.15	1.02	+0.13
Calmar ratio Return relative to maximum drawdown	0.72	-0.23	+0.95
Martin ratio Return relative to average drawdown	1.85	-0.61	+2.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMUB vs. SMHB - Sharpe Ratio Comparison

The current AMUB Sharpe Ratio is 0.69, which is higher than the SMHB Sharpe Ratio of -0.12. The chart below compares the historical Sharpe Ratios of AMUB and SMHB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AMUB	SMHB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	-0.12	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	-0.11	+1.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	-0.12	+0.38

Correlation

The correlation between AMUB and SMHB is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AMUB vs. SMHB - Dividend Comparison

AMUB's dividend yield for the trailing twelve months is around 5.79%, less than SMHB's 22.87% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMUB ETRACS Alerian MLP Index ETN Class B	5.79%	6.54%	6.02%	6.54%	6.35%	7.34%	10.94%	8.36%	8.48%	7.00%	6.61%	2.25%
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B	22.87%	22.22%	21.95%	15.27%	24.18%	12.22%	16.86%	19.97%	0.91%	0.00%	0.00%	0.00%

Drawdowns

AMUB vs. SMHB - Drawdown Comparison

The maximum AMUB drawdown since its inception was -73.13%, smaller than the maximum SMHB drawdown of -90.30%. Use the drawdown chart below to compare losses from any high point for AMUB and SMHB.

Drawdown Indicators

	AMUB	SMHB	Difference
Max Drawdown Largest peak-to-trough decline	-73.13%	-90.30%	+17.17%
Max Drawdown (1Y) Largest decline over 1 year	-17.04%	-29.54%	+12.50%
Max Drawdown (5Y) Largest decline over 5 years	-20.58%	-58.85%	+38.27%
Max Drawdown (10Y) Largest decline over 10 years	-73.13%	—	—
Current Drawdown Current decline from peak	-2.96%	-46.27%	+43.31%
Average Drawdown Average peak-to-trough decline	-14.32%	-37.10%	+22.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.62%	11.19%	-4.57%

Volatility

AMUB vs. SMHB - Volatility Comparison

The current volatility for ETRACS Alerian MLP Index ETN Class B (AMUB) is 3.54%, while ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) has a volatility of 14.24%. This indicates that AMUB experiences smaller price fluctuations and is considered to be less risky than SMHB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMUB	SMHB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	14.24%	-10.70%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	29.84%	-20.88%
Volatility (1Y) Calculated over the trailing 1-year period	18.90%	50.14%	-31.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.01%	49.02%	-29.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.89%	66.99%	-40.10%