CEFD vs. AMND
CEFD (ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN) and AMND (ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050) are both exchange-traded funds - CEFD is a fund fund tracking the S-Network Composite Closed-End Fund Index (150%), while AMND is a Energy Equities fund tracking the Alerian Midstream Energy Dividend Index. Both are passively managed. At a 0.44 correlation, their price movements are largely independent. CEFD charges 0.95%/yr vs 0.75%/yr for AMND.
Performance
CEFD vs. AMND - Performance Comparison
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Returns By Period
CEFD
- 1D
- -0.98%
- 1M
- 2.61%
- YTD
- 6.26%
- 6M
- 6.56%
- 1Y
- 18.31%
- 3Y*
- 15.60%
- 5Y*
- 3.13%
- 10Y*
- —
AMND
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEFD vs. AMND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | 6.26% | 14.15% | 20.06% | 8.36% | -28.93% | 22.09% | 22.01% |
AMND ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050 | 0.00% | 0.00% | 40.42% | 13.60% | 21.27% | 34.91% | 10.45% |
Correlation
The correlation between CEFD and AMND is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2020 | 0.44 |
The correlation between CEFD and AMND shifts across timeframes, from 0.28 (3 years) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CEFD vs. AMND — Risk / Return Rank
CEFD
AMND
CEFD vs. AMND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) and ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050 (AMND). 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.
| CEFD | AMND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.29 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | — | — |
| Martin ratioReturn relative to average drawdown | 6.84 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CEFD | AMND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | — | — |
Drawdowns
CEFD vs. AMND - Drawdown Comparison
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Drawdown Indicators
| CEFD | AMND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.95% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -12.51% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | — | — |
Current DrawdownCurrent decline from peak | -1.14% | — | — |
Average DrawdownAverage peak-to-trough decline | -11.72% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | — | — |
Volatility
CEFD vs. AMND - Volatility Comparison
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Volatility by Period
| CEFD | AMND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.27% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.86% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.93% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.31% | — | — |
CEFD vs. AMND - Expense Ratio Comparison
CEFD has a 0.95% expense ratio, which is higher than AMND's 0.75% expense ratio.
Dividends
CEFD vs. AMND - Dividend Comparison
CEFD's dividend yield for the trailing twelve months is around 14.58%, while AMND has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
AMND ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050 | 0.00% | 0.00% | 5.14% | 6.56% | 6.37% | 7.10% | 2.49% |
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | 14.58% | 14.88% | 13.90% | 14.76% | 16.56% | 10.31% | 5.37% |
Frequently Asked Questions
CEFD and AMND have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMND is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMND is cheaper with a 0.75% expense ratio, compared with 0.95% for CEFD.
CEFD has the higher dividend yield at 14.58%, compared with 0.00% for AMND.
CEFD tracks S-Network Composite Closed-End Fund Index (150%), while AMND tracks Alerian Midstream Energy Dividend Index. Their fees differ too: 0.95% for CEFD and 0.75% for AMND.
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