BIB vs. IFED

Last updated Jun 24, 2026

BIB (ProShares Ultra Nasdaq Biotechnology) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - BIB tracks the NASDAQ Biotechnology Index (200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, BIB returned 19.65%/yr vs 16.54%/yr for IFED. A 0.53 correlation means they provide meaningful diversification when combined. BIB charges 0.95%/yr vs 0.45%/yr for IFED.

Performance

BIB vs. IFED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Biotechnology (BIB) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIB achieves a 12.50% return, which is significantly higher than IFED's -3.07% return.

BIB

• 1D: 1.97%
• 1M: 9.49%
• YTD: 12.50%
• 6M: 8.62%
• 1Y: 100.86%
• 3Y*: 19.65%
• 5Y*: -0.74%
• 10Y*: 9.71%

IFED

• 1D: -0.05%
• 1M: 2.47%
• YTD: -3.07%
• 6M: -3.90%
• 1Y: 2.52%
• 3Y*: 16.54%
• 5Y*: —
• 10Y*: —

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

BIB vs. IFED - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BIB ProShares Ultra Nasdaq Biotechnology	12.50%	59.21%	-9.84%	-1.06%	-28.85%	-21.03%
IFED ETRACS IFED Invest with the Fed TR Index ETN	-3.07%	15.02%	23.04%	20.78%	-1.46%	8.46%

Correlation

The correlation between BIB and IFED is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021	0.53

The correlation between BIB and IFED shifts across timeframes, from 0.42 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BIB vs. IFED — Risk / Return Rank

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

BIB

BIB Risk / Return Rank: 80
BIB Sharpe Ratio Rank: 83
BIB Sortino Ratio Rank: 73
BIB Omega Ratio Rank: 65
BIB Calmar Ratio Rank: 92
BIB Martin Ratio Rank: 88

IFED

IFED Risk / Return Rank: 10
IFED Sharpe Ratio Rank: 11
IFED Sortino Ratio Rank: 10
IFED Omega Ratio Rank: 10
IFED Calmar Ratio Rank: 10
IFED Martin Ratio Rank: 10

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.

BIB vs. IFED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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.

	BIB	IFED	Difference
Sharpe ratio: Return per unit of total volatility	2.51	0.15	+2.36
Sortino ratio: Return per unit of downside risk	3.08	0.34	+2.73
Omega ratio: Gain probability vs. loss probability	1.36	1.04	+0.32
Calmar ratio: Return relative to maximum drawdown	5.99	0.17	+5.82
Martin ratio: Return relative to average drawdown	18.30	0.43	+17.87

BIB vs. IFED - Sharpe Ratio Comparison

The current BIB Sharpe Ratio is 2.51, which is higher than the IFED Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of BIB and IFED, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIB vs. IFED - Drawdown Comparison

The maximum BIB drawdown since its inception was -67.24%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for BIB and IFED.

Drawdown Indicators

	BIB	IFED	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-22.36%	-44.88%
Max Drawdown (1Y) Largest decline over 1 year	-16.92%	-14.65%	-2.27%
Max Drawdown (3Y) Largest decline over 3 years	-45.30%	-22.36%	-22.94%
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.20%	—	—
Current Drawdown Current decline from peak	-17.29%	-5.05%	-12.24%
Average Drawdown Average peak-to-trough decline	-32.71%	-5.83%	-26.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	5.88%	-0.35%

Volatility

BIB vs. IFED - Volatility Comparison

ProShares Ultra Nasdaq Biotechnology (BIB) has a higher volatility of 13.56% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 6.74%. This indicates that BIB's price experiences larger fluctuations and is considered to be riskier than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIB	IFED	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.56%	6.74%	+6.82%
Volatility (6M) Calculated over the trailing 6-month period	31.65%	13.81%	+17.84%
Volatility (1Y) Calculated over the trailing 1-year period	40.43%	16.84%	+23.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.60%	19.92%	+23.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.39%	19.92%	+26.47%

BIB vs. IFED - Expense Ratio Comparison

BIB has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.

Dividends

BIB vs. IFED - Dividend Comparison

BIB's dividend yield for the trailing twelve months is around 0.55%, while IFED has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BIB ProShares Ultra Nasdaq Biotechnology	0.55%	0.77%	1.69%	0.07%	0.03%
IFED ETRACS IFED Invest with the Fed TR Index ETN	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIB and IFED in my portfolio?

BIB and IFED have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIB or IFED?

BIB has higher volatility (13.56%) compared to IFED (6.74%). In terms of maximum drawdown, BIB dropped -67.24% vs IFED's -22.36%.

Which ETF is better, BIB or IFED?

On 3-year performance, BIB leads with 19.65% vs 16.54% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 6.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIB or IFED?

Over the 3-year period, BIB has performed better with a 19.65% return vs 16.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIB or IFED?

IFED is cheaper with a 0.45% expense ratio, compared with 0.95% for BIB.

Which ETF pays a higher dividend yield, BIB or IFED?

BIB has the higher dividend yield at 0.55%, compared with 0.00% for IFED.

What is the main difference between BIB and IFED?

BIB tracks NASDAQ Biotechnology Index (200%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for BIB and 0.45% for IFED.

Which has better risk-adjusted returns?

BIB currently has the higher Sharpe Ratio (2.51 vs 0.15), 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.