CHGX vs. IFED
CHGX (Change Finance U.S. Large Cap Fossil Fuel Free ETF) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both exchange-traded funds - CHGX is a Large Cap Growth Equities fund tracking the Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index, while IFED is a Leveraged Equities fund tracking the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, CHGX returned 21.19%/yr vs 16.71%/yr for IFED. Their correlation of 0.83 suggests significant overlap in exposure. CHGX charges 0.49%/yr vs 0.45%/yr for IFED.
Performance
CHGX vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, CHGX achieves a 22.80% return, which is significantly higher than IFED's -3.52% return.
CHGX
- 1D
- -0.37%
- 1M
- 10.61%
- YTD
- 22.80%
- 6M
- 22.28%
- 1Y
- 33.91%
- 3Y*
- 21.19%
- 5Y*
- 11.13%
- 10Y*
- —
IFED
- 1D
- -1.24%
- 1M
- 4.85%
- YTD
- -3.52%
- 6M
- -3.51%
- 1Y
- 1.97%
- 3Y*
- 16.71%
- 5Y*
- —
- 10Y*
- —
CHGX vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF | 22.80% | 12.13% | 15.16% | 23.65% | -21.77% | 3.86% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.52% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between CHGX and IFED is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | 0.83 |
The correlation between CHGX and IFED has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
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Return for Risk
CHGX vs. IFED — Risk / Return Rank
CHGX
IFED
CHGX vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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.
| CHGX | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.37 | ||
| Sortino ratioReturn per unit of downside risk | +3.15 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.04 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 0.14 | +3.87 |
| Martin ratioReturn relative to average drawdown | 15.81 | 0.34 | +15.47 |
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
| CHGX | IFED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 0.12 | +2.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.65 | +0.07 |
Drawdowns
CHGX vs. IFED - Drawdown Comparison
The maximum CHGX drawdown since its inception was -35.49%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for CHGX and IFED.
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Drawdown Indicators
| CHGX | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -22.36% | -13.13% |
Max Drawdown (1Y)Largest decline over 1 year | -8.50% | -14.65% | +6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -18.09% | -22.36% | +4.27% |
Max Drawdown (5Y)Largest decline over 5 years | -30.26% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -5.50% | +5.13% |
Average DrawdownAverage peak-to-trough decline | -6.43% | -5.84% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 5.75% | -3.60% |
Volatility
CHGX vs. IFED - Volatility Comparison
The current volatility for Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX) is 3.97%, while ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a volatility of 4.50%. This indicates that CHGX experiences smaller price fluctuations and is considered to be less risky than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHGX | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.97% | 4.50% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 10.67% | 12.86% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 16.21% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.58% | 19.88% | -2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.35% | 19.88% | -0.53% |
CHGX vs. IFED - Expense Ratio Comparison
CHGX has a 0.49% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
CHGX vs. IFED - Dividend Comparison
CHGX's dividend yield for the trailing twelve months is around 0.55%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF | 0.55% | 0.67% | 0.76% | 0.94% | 1.11% | 0.56% | 0.58% | 0.86% | 0.00% | 0.59% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CHGX and IFED have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (4.50%) compared to CHGX (3.97%). In terms of maximum drawdown, CHGX dropped -35.49% vs IFED's -22.36%.
On 3-year performance, CHGX leads with 21.19% vs 16.71% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, CHGX has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CHGX has performed better with a 21.19% return vs 16.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.49% for CHGX.
CHGX has the higher dividend yield at 0.55%, compared with 0.00% for IFED.
CHGX is categorized as Large Cap Growth Equities, while IFED is Leveraged Equities. CHGX tracks Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index, while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: Change Finance and UBS. Their fees differ too: 0.49% for CHGX and 0.45% for IFED.
CHGX currently has the higher Sharpe Ratio (2.49 vs 0.12), 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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