BULZ vs. IFED

Last updated Jul 14, 2026

BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - BULZ tracks the Solactive FANG Innovation Index (300%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, BULZ returned 65.65%/yr vs 14.90%/yr for IFED. A 0.68 correlation means they provide meaningful diversification when combined. BULZ charges 0.95%/yr vs 0.45%/yr for IFED.

Performance

BULZ vs. IFED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) 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, BULZ achieves a 38.16% return, which is significantly higher than IFED's -3.70% return.

BULZ

• 1D: -7.41%
• 1M: -10.84%
• 6M: 28.00%
• YTD: 38.16%
• 1Y: 98.38%
• 3Y*: 65.65%
• 5Y*: —
• 10Y*: —

IFED

• 1D: -0.30%
• 1M: -0.71%
• 6M: -4.23%
• YTD: -3.70%
• 1Y: 0.61%
• 3Y*: 14.90%
• 5Y*: —
• 10Y*: —

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

BULZ vs. IFED - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	38.16%	60.09%	54.09%	394.22%	-92.26%	2.19%
IFED ETRACS IFED Invest with the Fed TR Index ETN	-3.70%	15.02%	23.04%	20.78%	-1.46%	8.46%

Correlation

The correlation between BULZ and IFED is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021	0.68

The correlation between BULZ and IFED shifts across timeframes, from 0.50 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BULZ vs. IFED — Risk / Return Rank

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

BULZ

BULZ Risk / Return Rank: 42
BULZ Sharpe Ratio Rank: 43
BULZ Sortino Ratio Rank: 43
BULZ Omega Ratio Rank: 44
BULZ Calmar Ratio Rank: 45
BULZ Martin Ratio Rank: 37

IFED

IFED Risk / Return Rank: 10
IFED Sharpe Ratio Rank: 10
IFED Sortino Ratio Rank: 9
IFED Omega Ratio Rank: 9
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.

BULZ vs. IFED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) 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.

	BULZ	IFED	Difference
Sharpe ratio: Return per unit of total volatility	1.22	0.03	+1.19
Sortino ratio: Return per unit of downside risk	1.80	0.18	+1.62
Omega ratio: Gain probability vs. loss probability	1.23	1.02	+0.21
Calmar ratio: Return relative to maximum drawdown	1.82	0.04	+1.78
Martin ratio: Return relative to average drawdown	4.44	0.10	+4.33

BULZ vs. IFED - Sharpe Ratio Comparison

The current BULZ Sharpe Ratio is 1.22, which is higher than the IFED Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of BULZ 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

BULZ vs. IFED - Drawdown Comparison

The maximum BULZ drawdown since its inception was -94.44%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for BULZ and IFED.

Drawdown Indicators

	BULZ	IFED	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-22.36%	-72.08%
Max Drawdown (1Y) Largest decline over 1 year	-54.22%	-14.65%	-39.57%
Max Drawdown (3Y) Largest decline over 3 years	-67.96%	-22.36%	-45.60%
Current Drawdown Current decline from peak	-34.91%	-5.67%	-29.24%
Average Drawdown Average peak-to-trough decline	-57.75%	-5.83%	-51.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.26%	6.01%	+16.25%

Volatility

BULZ vs. IFED - Volatility Comparison

MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) has a higher volatility of 29.07% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 8.11%. This indicates that BULZ'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

	BULZ	IFED	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.07%	8.11%	+20.96%
Volatility (6M) Calculated over the trailing 6-month period	65.30%	15.09%	+50.21%
Volatility (1Y) Calculated over the trailing 1-year period	81.12%	17.79%	+63.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.70%	20.02%	+71.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.70%	20.02%	+71.68%

BULZ vs. IFED - Expense Ratio Comparison

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

Dividends

BULZ vs. IFED - Dividend Comparison

Neither BULZ nor IFED has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BULZ and IFED in my portfolio?

BULZ and IFED have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BULZ or IFED?

BULZ has higher volatility (29.07%) compared to IFED (8.11%). In terms of maximum drawdown, BULZ dropped -94.44% vs IFED's -22.36%.

Which ETF is better, BULZ or IFED?

On 3-year performance, BULZ leads with 65.65% vs 14.90% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 8.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BULZ or IFED?

Over the 3-year period, BULZ has performed better with a 65.65% return vs 14.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BULZ or IFED?

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

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

BULZ and IFED have nearly identical dividend yields, around 0.00%.

What is the main difference between BULZ and IFED?

BULZ tracks Solactive FANG Innovation Index (300%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: BMO and UBS. Their fees differ too: 0.95% for BULZ and 0.45% for IFED.

Which has better risk-adjusted returns?

BULZ currently has the higher Sharpe Ratio (1.22 vs 0.03), 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.