EET vs. IFED
EET (ProShares Ultra MSCI Emerging Markets) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - EET tracks the MSCI Emerging Markets Index (200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, EET returned 34.98%/yr vs 15.90%/yr for IFED. A 0.56 correlation means they provide meaningful diversification when combined. EET charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
EET vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, EET achieves a 41.10% return, which is significantly higher than IFED's -4.64% return.
EET
- 1D
- -0.60%
- 1M
- 2.69%
- YTD
- 41.10%
- 6M
- 42.83%
- 1Y
- 81.79%
- 3Y*
- 34.98%
- 5Y*
- 2.48%
- 10Y*
- 10.67%
IFED
- 1D
- -1.62%
- 1M
- 0.81%
- YTD
- -4.64%
- 6M
- -5.76%
- 1Y
- -0.20%
- 3Y*
- 15.90%
- 5Y*
- —
- 10Y*
- —
EET vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 41.10% | 63.14% | 2.88% | 7.06% | -43.07% | -10.77% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -4.64% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between EET and IFED is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.56 |
The correlation between EET and IFED shifts across timeframes, from 0.42 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EET vs. IFED — Risk / Return Rank
EET
IFED
EET vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) 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.
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.
| EET | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.01 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | -0.01 | +3.13 |
| Martin ratioReturn relative to average drawdown | 10.84 | -0.03 | +10.88 |
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Drawdowns
EET vs. IFED - Drawdown Comparison
The maximum EET drawdown since its inception was -71.66%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for EET and IFED.
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Drawdown Indicators
| EET | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.66% | -22.36% | -49.30% |
Max Drawdown (1Y)Largest decline over 1 year | -26.38% | -14.65% | -11.73% |
Max Drawdown (3Y)Largest decline over 3 years | -34.89% | -22.36% | -12.53% |
Max Drawdown (5Y)Largest decline over 5 years | -64.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | — | — |
Current DrawdownCurrent decline from peak | -11.38% | -6.60% | -4.78% |
Average DrawdownAverage peak-to-trough decline | -37.16% | -5.83% | -31.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.57% | 5.90% | +1.67% |
Volatility
EET vs. IFED - Volatility Comparison
ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 25.42% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 6.86%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier 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
| EET | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.42% | 6.86% | +18.56% |
Volatility (6M)Calculated over the trailing 6-month period | 41.30% | 13.89% | +27.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.20% | 16.90% | +28.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.04% | 19.92% | +19.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.96% | 19.92% | +21.04% |
EET vs. IFED - Expense Ratio Comparison
EET has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
EET vs. IFED - Dividend Comparison
EET's dividend yield for the trailing twelve months is around 1.34%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 1.34% | 1.82% | 3.85% | 2.14% | 0.00% | 0.00% | 0.01% | 1.40% | 0.16% |
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% |
Frequently Asked Questions
EET and IFED have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EET has higher volatility (25.42%) compared to IFED (6.86%). In terms of maximum drawdown, EET dropped -71.66% vs IFED's -22.36%.
On 3-year performance, EET leads with 34.98% vs 15.90% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 6.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EET has performed better with a 34.98% return vs 15.90%. 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 0.95% for EET.
EET has the higher dividend yield at 1.34%, compared with 0.00% for IFED.
EET tracks MSCI Emerging Markets Index (200%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for EET and 0.45% for IFED.
EET currently has the higher Sharpe Ratio (1.83 vs -0.01), 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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