DIVE vs. SCDL

Last updated Jun 4, 2026

DIVE (Dana Concentrated Dividend ETF) and SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) are both exchange-traded funds - DIVE is a Dividend fund actively managed by Dana, while SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%). DIVE is actively managed, while SCDL is passively managed. A 0.65 correlation means they provide meaningful diversification when combined. DIVE charges 0.65%/yr vs 0.95%/yr for SCDL.

Performance

DIVE vs. SCDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dana Concentrated Dividend ETF (DIVE) 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, DIVE achieves a 0.38% return, which is significantly lower than SCDL's 37.06% return.

DIVE

• 1D: -0.22%
• 1M: -1.09%
• YTD: 0.38%
• 6M: 1.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCDL

• 1D: 0.51%
• 1M: 5.01%
• YTD: 37.06%
• 6M: 35.80%
• 1Y: 50.97%
• 3Y*: 22.79%
• 5Y*: 9.40%
• 10Y*: —

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

DIVE vs. SCDL - Yearly Performance Comparison

	2026 (YTD)	2025
DIVE Dana Concentrated Dividend ETF	0.38%	2.18%
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	37.06%	2.55%

Correlation

The correlation between DIVE and SCDL is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025	0.65

Return for Risk

DIVE vs. SCDL — Risk / Return Rank

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

SCDL

SCDL Risk / Return Rank: 73
SCDL Sharpe Ratio Rank: 73
SCDL Sortino Ratio Rank: 75
SCDL Omega Ratio Rank: 64
SCDL Calmar Ratio Rank: 87
SCDL Martin Ratio Rank: 68

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.

DIVE vs. SCDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dana Concentrated Dividend ETF (DIVE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DIVE	SCDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.37	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.53	-0.25

Drawdowns

DIVE vs. SCDL - Drawdown Comparison

The maximum DIVE drawdown since its inception was -11.45%, smaller than the maximum SCDL drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for DIVE and SCDL.

Drawdown Indicators

	DIVE	SCDL	Difference
Max Drawdown Largest peak-to-trough decline	-11.45%	-34.87%	+23.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-32.79%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.87%	—
Current Drawdown Current decline from peak	-4.35%	-2.79%	-1.56%
Average Drawdown Average peak-to-trough decline	-3.11%	-11.96%	+8.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.04%	—

Volatility

Volatility by Period

	DIVE	SCDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.93%	21.66%	-8.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.93%	29.02%	-16.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.93%	28.89%	-15.96%

DIVE vs. SCDL - Expense Ratio Comparison

DIVE has a 0.65% expense ratio, which is lower than SCDL's 0.95% expense ratio.

Dividends

DIVE vs. SCDL - Dividend Comparison

DIVE's dividend yield for the trailing twelve months is around 0.98%, while SCDL has not paid dividends to shareholders.

Position	TTM	2025
DIVE Dana Concentrated Dividend ETF	0.98%	0.66%
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVE and SCDL in my portfolio?

DIVE and SCDL have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DIVE or SCDL?

On fees, DIVE is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DIVE or SCDL?

DIVE is cheaper with a 0.65% expense ratio, compared with 0.95% for SCDL.

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

DIVE has the higher dividend yield at 0.98%, compared with 0.00% for SCDL.

What is the main difference between DIVE and SCDL?

DIVE is categorized as Dividend, while SCDL is Leveraged Equities. They also come from different issuers: Dana and UBS. Their fees differ too: 0.65% for DIVE and 0.95% for SCDL.