CEFD vs. EAOA
CEFD (ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN) and EAOA (iShares ESG Aware Aggressive Allocation ETF) are both Diversified Portfolio funds - CEFD tracks the S-Network Composite Closed-End Fund Index while EAOA tracks the BlackRock ESG Aware Aggressive Allocation Index. Both are passively managed. Over the past 5 years, CEFD returned 2.89%/yr vs 8.17%/yr for EAOA. Their correlation of 0.83 means they have usually moved in the same direction. CEFD charges 0.95%/yr vs 0.18%/yr for EAOA.
Performance
CEFD vs. EAOA - Performance Comparison
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Returns By Period
In the year-to-date period, CEFD achieves a 6.68% return, which is significantly lower than EAOA's 9.37% return.
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%
EAOA
- 1D
- 0.37%
- 1M
- -0.07%
- 6M
- 6.89%
- YTD
- 9.37%
- 1Y
- 19.83%
- 3Y*
- 15.23%
- 5Y*
- 8.17%
- 10Y*
- —
- ALL TIME*
- 11.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.81K | $22.66K | $19.94K | |
| $23.58K | $40.91K | $70.98K |
CEFD vs. EAOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | 6.68% | 14.15% | 20.06% | 8.36% | -28.93% | 22.09% | 24.57% |
EAOA iShares ESG Aware Aggressive Allocation ETF | 9.37% | 18.41% | 13.79% | 18.27% | -17.76% | 14.52% | 19.79% |
Correlation
The correlation between CEFD and EAOA is 0.82, 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. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020 | 0.83 |
The correlation between CEFD and EAOA has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
CEFD vs. EAOA — Risk / Return Rank
CEFD
EAOA
CEFD vs. EAOA - 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 iShares ESG Aware Aggressive Allocation ETF (EAOA). 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 | EAOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 2.30 | -1.30 |
| Martin ratioReturn relative to average drawdown | 4.48 | 9.67 | -5.19 |
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Drawdowns
CEFD vs. EAOA - Drawdown Comparison
The maximum CEFD drawdown since its inception was -36.95%, which is greater than EAOA's maximum drawdown of -25.06%. Use the drawdown chart below to compare losses from any high point for CEFD and EAOA.
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Drawdown Indicators
| CEFD | EAOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.95% | -25.06% | -11.89% |
Max Drawdown (1Y)Largest decline over 1 year | -12.51% | -8.17% | -4.34% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -13.84% | -7.92% |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | -25.06% | -11.89% |
Current DrawdownCurrent decline from peak | -2.29% | -1.22% | -1.07% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -5.21% | -6.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 1.94% | +0.85% |
Volatility
CEFD vs. EAOA - Volatility Comparison
The current volatility for ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) is 3.08%, while iShares ESG Aware Aggressive Allocation ETF (EAOA) has a volatility of 3.36%. This indicates that CEFD experiences smaller price fluctuations and is considered to be less risky than EAOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEFD | EAOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 3.36% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | 9.76% | +2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 11.73% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 13.39% | +4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.22% | 13.16% | +4.06% |
CEFD vs. EAOA - Expense Ratio Comparison
CEFD has a 0.95% expense ratio, which is higher than EAOA's 0.18% expense ratio.
Dividends
CEFD vs. EAOA - Dividend Comparison
CEFD's dividend yield for the trailing twelve months is around 14.87%, more than EAOA's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
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% |
EAOA iShares ESG Aware Aggressive Allocation ETF | 1.99% | 2.10% | 2.09% | 2.21% | 1.93% | 1.48% | 1.12% |
Frequently Asked Questions
CEFD and EAOA have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EAOA has higher volatility (3.36%) compared to CEFD (3.08%). In terms of maximum drawdown, CEFD dropped -36.95% vs EAOA's -25.06%.
On 5-year performance, EAOA leads with 8.17% vs 2.89% for CEFD. On fees, EAOA is cheaper at 0.18% per year. On volatility, CEFD has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EAOA has performed better with a 8.17% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EAOA is cheaper with a 0.18% expense ratio, compared with 0.95% for CEFD.
CEFD has the higher dividend yield at 14.87%, compared with 1.99% for EAOA.
CEFD tracks S-Network Composite Closed-End Fund Index, while EAOA tracks BlackRock ESG Aware Aggressive Allocation Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.95% for CEFD and 0.18% for EAOA.
EAOA currently has the higher Sharpe Ratio (1.60 vs 0.92), 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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