CEFD vs. AMTR

Last updated Jun 4, 2026

CEFD (ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN) and AMTR (ETRACS Alerian Midstream Energy Total Return Index ETN) are both exchange-traded funds - CEFD is a fund fund tracking the S-Network Composite Closed-End Fund Index (150%), while AMTR is a MLPs fund tracking the Alerian Midstream Energy Index. Both are passively managed. At a 0.43 correlation, their price movements are largely independent. CEFD charges 0.95%/yr vs 0.75%/yr for AMTR.

Performance

CEFD vs. AMTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) and ETRACS Alerian Midstream Energy Total Return Index ETN (AMTR). The values are adjusted to include any dividend payments, if applicable.

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*: —

AMTR

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CEFD vs. AMTR - 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%	15.76%
AMTR ETRACS Alerian Midstream Energy Total Return Index ETN	0.00%	0.00%	44.68%	12.75%	20.41%	36.99%	15.24%

Correlation

The correlation between CEFD and AMTR is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.43

The correlation between CEFD and AMTR shifts across timeframes, from 0.27 (3 years) to 0.43 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CEFD vs. AMTR — Risk / Return Rank

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

CEFD

CEFD Risk / Return Rank: 39
CEFD Sharpe Ratio Rank: 40
CEFD Sortino Ratio Rank: 39
CEFD Omega Ratio Rank: 45
CEFD Calmar Ratio Rank: 30
CEFD Martin Ratio Rank: 42

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.

CEFD vs. AMTR - 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 Total Return Index ETN (AMTR). 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	AMTR	Difference
Sharpe ratio: Return per unit of total volatility	1.43	—	—
Sortino ratio: Return per unit of downside risk	2.03	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.47	—	—
Martin ratio: Return 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.

Sharpe Ratios by Period

	CEFD	AMTR	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

Drawdown Indicators

	CEFD	AMTR	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-1.14%	—	—
Average Drawdown Average peak-to-trough decline	-11.72%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	—	—

Volatility

Volatility by Period

	CEFD	AMTR	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. AMTR - Expense Ratio Comparison

CEFD has a 0.95% expense ratio, which is higher than AMTR's 0.75% expense ratio.

Dividends

CEFD vs. AMTR - Dividend Comparison

CEFD's dividend yield for the trailing twelve months is around 14.58%, while AMTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
AMTR ETRACS Alerian Midstream Energy Total Return Index ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both CEFD and AMTR in my portfolio?

CEFD and AMTR have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CEFD or AMTR?

On fees, AMTR is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CEFD or AMTR?

AMTR is cheaper with a 0.75% expense ratio, compared with 0.95% for CEFD.

Which ETF pays a higher dividend yield, CEFD or AMTR?

CEFD has the higher dividend yield at 14.58%, compared with 0.00% for AMTR.

What is the main difference between CEFD and AMTR?

CEFD tracks S-Network Composite Closed-End Fund Index (150%), while AMTR tracks Alerian Midstream Energy Index. Their fees differ too: 0.95% for CEFD and 0.75% for AMTR.