AMUB vs. USML
AMUB (ETRACS Alerian MLP Index ETN Class B) and USML (ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN) are both exchange-traded funds - AMUB is a MLPs fund tracking the Alerian MLP Index, while USML is a Leveraged Equities fund tracking the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 5 years, AMUB returned 15.00%/yr vs 6.87%/yr for USML. Their 0.37 correlation means their historical movements had little consistent relationship. AMUB charges 0.80%/yr vs 0.95%/yr for USML.
Performance
AMUB vs. USML - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AMUB achieves a 23.05% return, which is significantly higher than USML's 6.16% return.
AMUB
- 1D
- 1.06%
- 1M
- 7.16%
- 6M
- 13.97%
- YTD
- 23.05%
- 1Y
- 20.12%
- 3Y*
- 15.25%
- 5Y*
- 15.00%
- 10Y*
- 3.58%
- ALL TIME*
- 0.51%
USML
- 1D
- 0.34%
- 1M
- 2.09%
- 6M
- 5.03%
- YTD
- 6.16%
- 1Y
- 9.59%
- 3Y*
- 14.75%
- 5Y*
- 6.87%
- 10Y*
- —
- ALL TIME*
- 10.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.17K | $7.30K | $19.86K | |
| $7.71K | $7.61K | $6.21K |
AMUB vs. USML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AMUB ETRACS Alerian MLP Index ETN Class B | 23.05% | 2.05% | 15.68% | 16.89% | 21.91% | 17.90% |
USML ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN | 6.16% | 9.33% | 23.97% | 11.37% | -22.87% | 42.12% |
Correlation
The correlation between AMUB and USML is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.37 |
The correlation between AMUB and USML shifts across timeframes, from 0.24 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AMUB vs. USML — Risk / Return Rank
AMUB
USML
AMUB vs. USML - 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 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML). 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 | USML | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.10 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.70 | +0.96 |
| Martin ratioReturn relative to average drawdown | 4.50 | 2.01 | +2.49 |
Loading charts...
Drawdowns
AMUB vs. USML - Drawdown Comparison
The maximum AMUB drawdown since its inception was -79.46%, which is greater than USML's maximum drawdown of -35.34%. Use the drawdown chart below to compare losses from any high point for AMUB and USML.
Loading charts...
Drawdown Indicators
| AMUB | USML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.46% | -35.34% | -44.12% |
Max Drawdown (1Y)Largest decline over 1 year | -11.02% | -13.09% | +2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -17.22% | -19.14% | +1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -20.58% | -35.34% | +14.76% |
Max Drawdown (10Y)Largest decline over 10 years | -78.86% | — | — |
Current DrawdownCurrent decline from peak | -1.28% | -1.05% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -28.87% | -10.21% | -18.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.36% | 4.51% | -0.15% |
Volatility
AMUB vs. USML - Volatility Comparison
The current volatility for ETRACS Alerian MLP Index ETN Class B (AMUB) is 4.77%, while ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML) has a volatility of 5.78%. This indicates that AMUB experiences smaller price fluctuations and is considered to be less risky than USML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AMUB | USML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 5.78% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.09% | 12.48% | -1.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.47% | 16.72% | -2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.86% | 24.53% | -4.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.18% | 24.13% | +3.05% |
AMUB vs. USML - Expense Ratio Comparison
AMUB has a 0.80% expense ratio, which is lower than USML's 0.95% expense ratio.
Dividends
AMUB vs. USML - Dividend Comparison
Neither AMUB nor USML has paid dividends to shareholders.
Frequently Asked Questions
AMUB and USML have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USML has higher volatility (5.78%) compared to AMUB (4.77%). In terms of maximum drawdown, AMUB dropped -79.46% vs USML's -35.34%.
On 5-year performance, AMUB leads with 15.00% vs 6.87% for USML. On fees, AMUB is cheaper at 0.80% per year. On volatility, AMUB has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AMUB has performed better with a 15.00% return vs 6.87%. 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 0.95% for USML.
AMUB and USML have nearly identical dividend yields, around 0.00%.
AMUB is categorized as MLPs, while USML is Leveraged Equities. AMUB tracks Alerian MLP Index, while USML tracks MSCI USA Minimum Volatility Index. Their fees differ too: 0.80% for AMUB and 0.95% for USML.
AMUB currently has the higher Sharpe Ratio (1.26 vs 0.55), 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.
Find the right allocation for AMUB and USML
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer