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CEFD vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


CEFDSPY
YTD Return6.36%7.90%
1Y Return15.88%28.03%
3Y Return (Ann)-4.09%8.75%
Sharpe Ratio0.912.33
Daily Std Dev16.33%11.63%
Max Drawdown-36.95%-55.19%
Current Drawdown-18.90%-2.27%

Correlation

-0.50.00.51.00.8

The correlation between CEFD and SPY is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

CEFD vs. SPY - Performance Comparison

In the year-to-date period, CEFD achieves a 6.36% return, which is significantly lower than SPY's 7.90% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


0.00%20.00%40.00%60.00%80.00%December2024FebruaryMarchAprilMay
21.82%
73.94%
CEFD
SPY

Compare stocks, funds, or ETFs

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ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN

SPDR S&P 500 ETF

CEFD vs. SPY - Expense Ratio Comparison

CEFD has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.


CEFD
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN
Expense ratio chart for CEFD: current value at 0.95% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.95%
Expense ratio chart for SPY: current value at 0.09% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.09%

Risk-Adjusted Performance

CEFD vs. SPY - Risk-Adjusted Performance 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 SPDR S&P 500 ETF (SPY). 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
Sharpe ratio
The chart of Sharpe ratio for CEFD, currently valued at 0.91, compared to the broader market0.002.004.000.91
Sortino ratio
The chart of Sortino ratio for CEFD, currently valued at 1.31, compared to the broader market-2.000.002.004.006.008.001.31
Omega ratio
The chart of Omega ratio for CEFD, currently valued at 1.18, compared to the broader market0.501.001.502.002.501.18
Calmar ratio
The chart of Calmar ratio for CEFD, currently valued at 0.40, compared to the broader market0.002.004.006.008.0010.0012.0014.000.40
Martin ratio
The chart of Martin ratio for CEFD, currently valued at 2.61, compared to the broader market0.0020.0040.0060.0080.002.61
SPY
Sharpe ratio
The chart of Sharpe ratio for SPY, currently valued at 2.33, compared to the broader market0.002.004.002.33
Sortino ratio
The chart of Sortino ratio for SPY, currently valued at 3.33, compared to the broader market-2.000.002.004.006.008.003.33
Omega ratio
The chart of Omega ratio for SPY, currently valued at 1.41, compared to the broader market0.501.001.502.002.501.41
Calmar ratio
The chart of Calmar ratio for SPY, currently valued at 2.01, compared to the broader market0.002.004.006.008.0010.0012.0014.002.01
Martin ratio
The chart of Martin ratio for SPY, currently valued at 9.38, compared to the broader market0.0020.0040.0060.0080.009.38

CEFD vs. SPY - Sharpe Ratio Comparison

The current CEFD Sharpe Ratio is 0.91, which is lower than the SPY Sharpe Ratio of 2.33. The chart below compares the 12-month rolling Sharpe Ratio of CEFD and SPY.


Rolling 12-month Sharpe Ratio0.001.002.003.00December2024FebruaryMarchAprilMay
0.91
2.33
CEFD
SPY

Dividends

CEFD vs. SPY - Dividend Comparison

CEFD's dividend yield for the trailing twelve months is around 13.63%, more than SPY's 1.31% yield.


TTM20232022202120202019201820172016201520142013
CEFD
ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN
13.63%14.76%16.56%10.31%5.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY
SPDR S&P 500 ETF
1.31%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%1.81%

Drawdowns

CEFD vs. SPY - Drawdown Comparison

The maximum CEFD drawdown since its inception was -36.95%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CEFD and SPY. For additional features, visit the drawdowns tool.


-35.00%-30.00%-25.00%-20.00%-15.00%-10.00%-5.00%0.00%December2024FebruaryMarchAprilMay
-18.90%
-2.27%
CEFD
SPY

Volatility

CEFD vs. SPY - Volatility Comparison

ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) has a higher volatility of 5.30% compared to SPDR S&P 500 ETF (SPY) at 4.08%. This indicates that CEFD's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%3.00%4.00%5.00%6.00%7.00%8.00%December2024FebruaryMarchAprilMay
5.30%
4.08%
CEFD
SPY