CEFD vs. HDLB
Compare and contrast key facts about ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB).
CEFD and HDLB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CEFD is a passively managed fund by UBS that tracks the performance of the S-Network Composite Closed-End Fund Index (150%). It was launched on Jun 2, 2020. HDLB is a passively managed fund by UBS that tracks the performance of the Solactive US High Dividend Low Volatility (USD)(TR) (200%). It was launched on Oct 24, 2019. Both CEFD and HDLB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
CEFD vs. HDLB - Performance Comparison
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CEFD vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | -3.73% | 14.15% | 20.06% | 8.36% | -28.93% | 22.09% | 21.81% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 15.23% | 27.26% | 28.21% | -4.12% | -11.46% | 62.67% | 4.73% |
Returns By Period
In the year-to-date period, CEFD achieves a -3.73% return, which is significantly lower than HDLB's 15.23% return.
CEFD
- 1D
- 1.63%
- 1M
- -6.56%
- YTD
- -3.73%
- 6M
- -3.27%
- 1Y
- 9.83%
- 3Y*
- 11.64%
- 5Y*
- 2.72%
- 10Y*
- —
HDLB
- 1D
- -2.03%
- 1M
- -9.81%
- YTD
- 15.23%
- 6M
- 5.83%
- 1Y
- 18.66%
- 3Y*
- 24.29%
- 5Y*
- 14.62%
- 10Y*
- —
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CEFD vs. HDLB - Expense Ratio Comparison
CEFD has a 0.95% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Return for Risk
CEFD vs. HDLB — Risk / Return Rank
CEFD
HDLB
CEFD vs. HDLB - 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 Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB). 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 | HDLB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.48 | 0.57 | -0.09 |
Sortino ratioReturn per unit of downside risk | 0.77 | 0.95 | -0.18 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.13 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.86 | -0.24 |
Martin ratioReturn relative to average drawdown | 2.80 | 2.89 | -0.10 |
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 | HDLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.48 | 0.57 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.48 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.12 | +0.31 |
Correlation
The correlation between CEFD and HDLB is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
CEFD vs. HDLB - Dividend Comparison
CEFD's dividend yield for the trailing twelve months is around 15.83%, more than HDLB's 11.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | 15.83% | 14.88% | 13.90% | 14.76% | 16.56% | 10.31% | 5.37% | 0.00% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 11.03% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
Drawdowns
CEFD vs. HDLB - Drawdown Comparison
The maximum CEFD drawdown since its inception was -36.95%, smaller than the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for CEFD and HDLB.
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Drawdown Indicators
| CEFD | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.95% | -78.70% | +41.75% |
Max Drawdown (1Y)Largest decline over 1 year | -16.13% | -20.94% | +4.81% |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | -43.81% | +6.86% |
Current DrawdownCurrent decline from peak | -7.31% | -9.81% | +2.50% |
Average DrawdownAverage peak-to-trough decline | -12.01% | -27.92% | +15.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 6.26% | -2.67% |
Volatility
CEFD vs. HDLB - Volatility Comparison
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) have volatilities of 8.79% and 8.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEFD | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.79% | 8.40% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.94% | 20.47% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.68% | 32.76% | -12.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.84% | 30.43% | -12.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.41% | 43.94% | -26.53% |