CDL vs. SCDL
CDL (VictoryShares US Large Cap High Dividend Volatility Wtd ETF) and SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) are both exchange-traded funds - CDL is a Dividend fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%). Both are passively managed. Over the past 5 years, CDL returned 10.44%/yr vs 11.62%/yr for SCDL. Their correlation of 0.91 means they have usually moved in the same direction. CDL charges 0.35%/yr vs 0.95%/yr for SCDL.
Performance
CDL vs. SCDL - Performance Comparison
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Returns By Period
In the year-to-date period, CDL achieves a 17.17% return, which is significantly lower than SCDL's 47.30% return.
CDL
- 1D
- -0.51%
- 1M
- 0.29%
- 6M
- 10.38%
- YTD
- 17.17%
- 1Y
- 22.30%
- 3Y*
- 14.61%
- 5Y*
- 10.44%
- 10Y*
- 11.17%
- ALL TIME*
- 11.29%
SCDL
- 1D
- 0.55%
- 1M
- 6.51%
- 6M
- 26.03%
- YTD
- 47.30%
- 1Y
- 61.99%
- 3Y*
- 20.93%
- 5Y*
- 11.62%
- 10Y*
- —
- ALL TIME*
- 16.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $504.48K | $625.50K | $553.90K | |
| $12.99K | $29.73K | $21.90K |
CDL vs. SCDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 17.17% | 9.04% | 15.58% | 3.03% | -0.45% | 28.64% |
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 47.30% | 2.05% | 14.99% | 0.18% | -13.06% | 52.47% |
Correlation
The correlation between CDL and SCDL is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.91 |
The correlation between CDL and SCDL has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
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Return for Risk
CDL vs. SCDL — Risk / Return Rank
CDL
SCDL
CDL vs. SCDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) and ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL). 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.
| CDL | SCDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.46 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 6.00 | -2.13 |
| Martin ratioReturn relative to average drawdown | 13.78 | 15.42 | -1.64 |
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Drawdowns
CDL vs. SCDL - Drawdown Comparison
The maximum CDL drawdown since its inception was -41.03%, which is greater than SCDL's maximum drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for CDL and SCDL.
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Drawdown Indicators
| CDL | SCDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.03% | -34.87% | -6.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -10.19% | +4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -12.87% | -32.79% | +19.92% |
Max Drawdown (5Y)Largest decline over 5 years | -17.28% | -34.87% | +17.59% |
Max Drawdown (10Y)Largest decline over 10 years | -41.03% | — | — |
Current DrawdownCurrent decline from peak | -2.35% | -2.42% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -11.68% | +7.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 3.96% | -2.37% |
Volatility
CDL vs. SCDL - Volatility Comparison
The current volatility for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) is 4.20%, while ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a volatility of 8.22%. This indicates that CDL experiences smaller price fluctuations and is considered to be less risky than SCDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDL | SCDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 8.22% | -4.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.85% | 15.67% | -7.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.34% | 21.95% | -11.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.88% | 29.02% | -15.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 28.76% | -11.72% |
CDL vs. SCDL - Expense Ratio Comparison
CDL has a 0.35% expense ratio, which is lower than SCDL's 0.95% expense ratio.
Dividends
CDL vs. SCDL - Dividend Comparison
CDL's dividend yield for the trailing twelve months is around 3.06%, while SCDL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 3.06% | 3.33% | 3.27% | 3.61% | 3.31% | 2.60% | 3.32% | 3.04% | 3.32% | 2.87% | 2.97% | 1.28% |
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CDL and SCDL have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCDL has higher volatility (8.22%) compared to CDL (4.20%). In terms of maximum drawdown, CDL dropped -41.03% vs SCDL's -34.87%.
On 5-year performance, SCDL leads with 11.62% vs 10.44% for CDL. On fees, CDL is cheaper at 0.35% per year. On volatility, CDL has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCDL has performed better with a 11.62% return vs 10.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDL is cheaper with a 0.35% expense ratio, compared with 0.95% for SCDL.
CDL has the higher dividend yield at 3.06%, compared with 0.00% for SCDL.
CDL is categorized as Dividend, while SCDL is Leveraged Equities. CDL tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while SCDL tracks Dow Jones U.S. Dividend 100 (200%). They also come from different issuers: Crestview and UBS. Their fees differ too: 0.35% for CDL and 0.95% for SCDL.
SCDL currently has the higher Sharpe Ratio (2.81 vs 2.13), 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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