CEFD vs. ASET

Last updated Aug 2, 2026

CEFD (ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN) and ASET (FlexShares Real Assets Allocation Index Fund) are both Diversified Portfolio funds - CEFD tracks the S-Network Composite Closed-End Fund Index while ASET tracks the Northern Trust Real Assets Allocation Total Return. Both are passively managed. CEFD charges 0.95%/yr vs 0.57%/yr for ASET.

Performance

CEFD vs. ASET - 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 FlexShares Real Assets Allocation Index Fund (ASET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CEFD

• 1D: 0.65%
• 1M: -1.19%
• 6M: 3.84%
• YTD: 6.68%
• 1Y: 13.16%
• 3Y*: 13.50%
• 5Y*: 2.89%
• 10Y*: —
• ALL TIME*: 8.91%

ASET

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASET FlexShares Real Assets Allocation Index Fund	$0.00	$0.00	$0.00
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN	$13.81K	$22.66K	$19.94K

CEFD vs. ASET - Yearly Performance Comparison

	2026 (YTD)
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN	5.49%
ASET FlexShares Real Assets Allocation Index Fund	0.00%

Return for Risk

CEFD vs. ASET — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CEFD

CEFD Risk / Return Rank: 36
CEFD Sharpe Ratio Rank: 37
CEFD Sortino Ratio Rank: 36
CEFD Omega Ratio Rank: 38
CEFD Calmar Ratio Rank: 30
CEFD Martin Ratio Rank: 41

ASET

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CEFD vs. ASET - 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 FlexShares Real Assets Allocation Index Fund (ASET). 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.

	CEFD	ASET	Difference
Sharpe ratio: Return per unit of total volatility	0.92	—	—
Sortino ratio: Return per unit of downside risk	1.36	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.00	—	—
Martin ratio: Return relative to average drawdown	4.48	—	—

Drawdowns

CEFD vs. ASET - Drawdown Comparison

The maximum CEFD drawdown since its inception was -36.95%, which is greater than ASET's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for CEFD and ASET.

Drawdown Indicators

	CEFD	ASET	Difference
Max Drawdown Largest peak-to-trough decline	-36.95%	0.00%	-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	-2.29%	0.00%	-2.29%
Average Drawdown Average peak-to-trough decline	-11.46%	0.00%	-11.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	—	—

Volatility

Volatility by Period

	CEFD	ASET	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.68%	0.00%	+13.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.02%	0.00%	+18.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.22%	0.00%	+17.22%

CEFD vs. ASET - Expense Ratio Comparison

CEFD has a 0.95% expense ratio, which is higher than ASET's 0.57% expense ratio.

Dividends

CEFD vs. ASET - Dividend Comparison

CEFD's dividend yield for the trailing twelve months is around 14.87%, while ASET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
ASET FlexShares Real Assets Allocation Index Fund	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	14.87%	14.88%	13.90%	14.76%	16.56%	10.31%	5.37%

Frequently Asked Questions

Which ETF is better, CEFD or ASET?

On fees, ASET is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CEFD or ASET?

ASET is cheaper with a 0.57% expense ratio, compared with 0.95% for CEFD.

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

CEFD has the higher dividend yield at 14.87%, compared with 0.00% for ASET.

What is the main difference between CEFD and ASET?

CEFD tracks S-Network Composite Closed-End Fund Index, while ASET tracks Northern Trust Real Assets Allocation Total Return. They also come from different issuers: UBS and Northern Trust. Their fees differ too: 0.95% for CEFD and 0.57% for ASET.