DIVB vs. SCDL

Last updated Jun 24, 2026

DIVB (iShares Core Dividend ETF) and SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) are both exchange-traded funds - DIVB is a Dividend fund tracking the Morningstar US Dividend and Buyback Index, while SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%). Both are passively managed. Over the past 5 years, DIVB returned 12.39%/yr vs 10.07%/yr for SCDL. Their correlation of 0.91 suggests significant overlap in exposure. DIVB charges 0.05%/yr vs 0.95%/yr for SCDL.

Performance

DIVB vs. SCDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Dividend ETF (DIVB) and ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVB achieves a 17.14% return, which is significantly lower than SCDL's 33.87% return.

DIVB

• 1D: 1.02%
• 1M: 1.64%
• YTD: 17.14%
• 6M: 16.48%
• 1Y: 27.72%
• 3Y*: 21.75%
• 5Y*: 12.39%
• 10Y*: —

SCDL

• 1D: 0.94%
• 1M: -5.06%
• YTD: 33.87%
• 6M: 32.94%
• 1Y: 45.29%
• 3Y*: 21.83%
• 5Y*: 10.07%
• 10Y*: —

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

DIVB vs. SCDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DIVB iShares Core Dividend ETF	17.14%	15.09%	18.59%	13.27%	-10.51%	26.62%
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	33.87%	2.05%	14.99%	0.18%	-13.06%	52.47%

Correlation

The correlation between DIVB and SCDL is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.91

The correlation between DIVB and SCDL shifts across timeframes, from 0.79 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DIVB vs. SCDL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIVB

DIVB Risk / Return Rank: 78
DIVB Sharpe Ratio Rank: 78
DIVB Sortino Ratio Rank: 79
DIVB Omega Ratio Rank: 76
DIVB Calmar Ratio Rank: 81
DIVB Martin Ratio Rank: 75

SCDL

SCDL Risk / Return Rank: 71
SCDL Sharpe Ratio Rank: 70
SCDL Sortino Ratio Rank: 73
SCDL Omega Ratio Rank: 62
SCDL Calmar Ratio Rank: 86
SCDL Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DIVB vs. SCDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend ETF (DIVB) and ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL). 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.

	DIVB	SCDL	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.10	+0.29
Sortino ratio: Return per unit of downside risk	3.34	3.02	+0.32
Omega ratio: Gain probability vs. loss probability	1.42	1.35	+0.07
Calmar ratio: Return relative to maximum drawdown	4.08	4.47	-0.39
Martin ratio: Return relative to average drawdown	13.64	11.07	+2.58

DIVB vs. SCDL - Sharpe Ratio Comparison

The current DIVB Sharpe Ratio is 2.38, which is comparable to the SCDL Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of DIVB and SCDL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DIVB vs. SCDL - Drawdown Comparison

The maximum DIVB drawdown since its inception was -36.93%, which is greater than SCDL's maximum drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for DIVB and SCDL.

Drawdown Indicators

	DIVB	SCDL	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-34.87%	-2.06%
Max Drawdown (1Y) Largest decline over 1 year	-6.82%	-10.19%	+3.37%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	-32.79%	+17.34%
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	-34.87%	+13.79%
Current Drawdown Current decline from peak	-1.10%	-5.06%	+3.96%
Average Drawdown Average peak-to-trough decline	-4.97%	-11.87%	+6.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	4.10%	-2.06%

Volatility

DIVB vs. SCDL - Volatility Comparison

The current volatility for iShares Core Dividend ETF (DIVB) is 4.61%, while ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a volatility of 6.47%. This indicates that DIVB experiences smaller price fluctuations and is considered to be less risky than SCDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVB	SCDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	6.47%	-1.86%
Volatility (6M) Calculated over the trailing 6-month period	8.84%	14.76%	-5.92%
Volatility (1Y) Calculated over the trailing 1-year period	11.70%	21.70%	-10.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.26%	28.98%	-13.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	28.81%	-10.45%

DIVB vs. SCDL - Expense Ratio Comparison

DIVB has a 0.05% expense ratio, which is lower than SCDL's 0.95% expense ratio.

Dividends

DIVB vs. SCDL - Dividend Comparison

DIVB's dividend yield for the trailing twelve months is around 2.27%, while SCDL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVB iShares Core Dividend ETF	2.27%	2.50%	2.61%	3.18%	2.02%	1.63%	2.08%	2.07%	2.52%	0.37%
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVB and SCDL in my portfolio?

DIVB and SCDL have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVB or SCDL?

SCDL has higher volatility (6.47%) compared to DIVB (4.61%). In terms of maximum drawdown, DIVB dropped -36.93% vs SCDL's -34.87%.

Which ETF is better, DIVB or SCDL?

On 5-year performance, DIVB leads with 12.39% vs 10.07% for SCDL. On fees, DIVB is cheaper at 0.05% per year. On volatility, DIVB has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVB or SCDL?

Over the 5-year period, DIVB has performed better with a 12.39% return vs 10.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVB or SCDL?

DIVB is cheaper with a 0.05% expense ratio, compared with 0.95% for SCDL.

Which ETF pays a higher dividend yield, DIVB or SCDL?

DIVB has the higher dividend yield at 2.27%, compared with 0.00% for SCDL.

What is the main difference between DIVB and SCDL?

DIVB is categorized as Dividend, while SCDL is Leveraged Equities. DIVB tracks Morningstar US Dividend and Buyback Index, while SCDL tracks Dow Jones U.S. Dividend 100 (200%). They also come from different issuers: iShares and UBS. Their fees differ too: 0.05% for DIVB and 0.95% for SCDL.

Which has better risk-adjusted returns?

DIVB currently has the higher Sharpe Ratio (2.38 vs 2.10), 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.