EPV vs. IFED
EPV (ProShares UltraShort FTSE Europe) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - EPV tracks the FTSE All Cap Developed Europe (-200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, EPV returned -26.13%/yr vs 18.28%/yr for IFED. Their -0.63 correlation means they have often moved in opposite directions in the past. EPV charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
EPV vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, EPV achieves a -19.77% return, which is significantly lower than IFED's 6.57% return.
EPV
- 1D
- -1.09%
- 1M
- -3.19%
- 6M
- -10.92%
- YTD
- -19.77%
- 1Y
- -35.04%
- 3Y*
- -26.13%
- 5Y*
- -19.02%
- 10Y*
- -22.82%
- ALL TIME*
- -25.54%
IFED
- 1D
- -3.14%
- 1M
- 10.34%
- 6M
- 10.05%
- YTD
- 6.57%
- 1Y
- 11.16%
- 3Y*
- 18.28%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $306.03K | $269.56K | $428.32K | |
| $137.39K | $84.48K | $45.67K |
EPV vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EPV ProShares UltraShort FTSE Europe | -19.77% | -45.21% | 2.02% | -30.81% | 15.53% | -2.59% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 6.57% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between EPV and IFED is -0.43, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.43 |
Correlation (3Y) Balances recent behavior with more history. | -0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.63 |
The correlation between EPV and IFED shifts across timeframes, from -0.63 (all time) to -0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EPV vs. IFED — Risk / Return Rank
EPV
IFED
EPV vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) 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.
| EPV | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.13 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -1.05 | 0.56 | -1.60 |
| Martin ratioReturn relative to average drawdown | -1.72 | 1.73 | -3.45 |
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Drawdowns
EPV vs. IFED - Drawdown Comparison
The maximum EPV drawdown since its inception was -99.41%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for EPV and IFED.
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Drawdown Indicators
| EPV | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.41% | -22.36% | -77.05% |
Max Drawdown (1Y)Largest decline over 1 year | -33.55% | -20.18% | -13.37% |
Max Drawdown (3Y)Largest decline over 3 years | -67.49% | -22.36% | -45.13% |
Max Drawdown (5Y)Largest decline over 5 years | -80.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -93.02% | — | — |
Current DrawdownCurrent decline from peak | -99.41% | -10.51% | -88.90% |
Average DrawdownAverage peak-to-trough decline | -88.47% | -5.85% | -82.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.92% | 6.47% | +15.45% |
Volatility
EPV vs. IFED - Volatility Comparison
The current volatility for ProShares UltraShort FTSE Europe (EPV) is 9.50%, while ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a volatility of 24.37%. This indicates that EPV 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
| EPV | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.50% | 24.37% | -14.87% |
Volatility (6M)Calculated over the trailing 6-month period | 28.44% | 28.13% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.47% | 29.53% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.99% | 22.60% | +13.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.90% | 22.60% | +14.30% |
EPV vs. IFED - Expense Ratio Comparison
EPV has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
EPV vs. IFED - Dividend Comparison
EPV's dividend yield for the trailing twelve months is around 4.98%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EPV ProShares UltraShort FTSE Europe | 4.98% | 4.80% | 4.83% | 3.17% | 0.33% | 0.01% | 0.09% | 1.10% | 0.19% |
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
EPV and IFED have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (24.37%) compared to EPV (9.50%). In terms of maximum drawdown, EPV dropped -99.41% vs IFED's -22.36%.
On 3-year performance, IFED leads with 18.28% vs -26.13% for EPV. On fees, IFED is cheaper at 0.45% per year. On volatility, EPV has been the lower-risk option at 9.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 18.28% return vs -26.13%. 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 EPV.
EPV has the higher dividend yield at 4.98%, compared with 0.00% for IFED.
EPV tracks FTSE All Cap Developed Europe (-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 EPV and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.38 vs -1.08), 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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