ESMV vs. HDLB
ESMV (iShares ESG MSCI USA Min Vol Factor ETF) and HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) are both exchange-traded funds - ESMV is a Low Volatility fund tracking the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%). Both are passively managed. Over the past 3 years, ESMV returned 10.25%/yr vs 29.45%/yr for HDLB. Their 0.60 correlation means they have sometimes moved together and sometimes differently. ESMV charges 0.18%/yr vs 1.65%/yr for HDLB.
Performance
ESMV vs. HDLB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ESMV achieves a 7.33% return, which is significantly lower than HDLB's 25.12% return.
ESMV
- 1D
- 0.22%
- 1M
- -0.16%
- 6M
- 6.27%
- YTD
- 7.33%
- 1Y
- 9.71%
- 3Y*
- 10.25%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.96%
HDLB
- 1D
- -0.60%
- 1M
- 6.28%
- 6M
- 12.18%
- YTD
- 25.12%
- 1Y
- 26.69%
- 3Y*
- 29.45%
- 5Y*
- 14.37%
- 10Y*
- —
- ALL TIME*
- 6.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.55K | $9.03K | $12.67K | |
| $77.42K | $57.41K | $57.55K |
ESMV vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 7.33% | 5.34% | 13.06% | 12.20% | -11.08% | 3.13% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 25.12% | 27.26% | 28.21% | -4.12% | -11.46% | 14.90% |
Correlation
The correlation between ESMV and HDLB is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2021 | 0.60 |
Over the past year, the correlation between ESMV and HDLB has dropped to 0.38 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ESMV vs. HDLB — Risk / Return Rank
ESMV
HDLB
ESMV vs. HDLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB). 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.
| ESMV | HDLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.74 | -0.42 |
| Martin ratioReturn relative to average drawdown | 4.05 | 3.74 | +0.31 |
Loading charts...
Drawdowns
ESMV vs. HDLB - Drawdown Comparison
The maximum ESMV drawdown since its inception was -19.77%, smaller than the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for ESMV and HDLB.
Loading charts...
Drawdown Indicators
| ESMV | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.77% | -78.70% | +58.93% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -16.17% | +9.16% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -20.94% | +8.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.81% | — |
Current DrawdownCurrent decline from peak | -0.51% | -5.63% | +5.12% |
Average DrawdownAverage peak-to-trough decline | -5.18% | -27.01% | +21.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 7.51% | -5.23% |
Volatility
ESMV vs. HDLB - Volatility Comparison
The current volatility for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) is 2.50%, while ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) has a volatility of 11.39%. This indicates that ESMV experiences smaller price fluctuations and is considered to be less risky than HDLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ESMV | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 11.39% | -8.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.60% | 22.35% | -15.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.04% | 28.72% | -18.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 31.06% | -17.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 43.43% | -30.32% |
ESMV vs. HDLB - Expense Ratio Comparison
ESMV has a 0.18% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Dividends
ESMV vs. HDLB - Dividend Comparison
ESMV's dividend yield for the trailing twelve months is around 1.50%, less than HDLB's 10.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 1.50% | 1.56% | 1.71% | 1.75% | 1.66% | 0.24% | 0.00% | 0.00% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 10.19% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
Frequently Asked Questions
ESMV and HDLB have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDLB has higher volatility (11.39%) compared to ESMV (2.50%). In terms of maximum drawdown, ESMV dropped -19.77% vs HDLB's -78.70%.
On 3-year performance, HDLB leads with 29.45% vs 10.25% for ESMV. On fees, ESMV is cheaper at 0.18% per year. On volatility, ESMV has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HDLB has performed better with a 29.45% return vs 10.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESMV is cheaper with a 0.18% expense ratio, compared with 1.65% for HDLB.
HDLB has the higher dividend yield at 10.19%, compared with 1.50% for ESMV.
ESMV is categorized as Low Volatility, while HDLB is Leveraged Equities. ESMV tracks MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while HDLB tracks Solactive US High Dividend Low Volatility (USD)(TR) (200%). They also come from different issuers: iShares and UBS. Their fees differ too: 0.18% for ESMV and 1.65% for HDLB.
HDLB currently has the higher Sharpe Ratio (0.98 vs 0.93), 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.
Find the right allocation for ESMV and HDLB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer