HDLB vs. BRKL

Last updated Aug 4, 2026

HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) and BRKL (Corgi BRKB 2x Daily ETF) are both Leveraged Equities funds. HDLB is passively managed, while BRKL is actively managed. Their 0.58 correlation means they have sometimes moved together and sometimes differently. HDLB charges 1.65%/yr vs 0.45%/yr for BRKL.

Performance

HDLB vs. BRKL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) and Corgi BRKB 2x Daily ETF (BRKL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HDLB

• 1D: 0.59%
• 1M: 6.90%
• 6M: 10.29%
• YTD: 25.86%
• 1Y: 27.43%
• 3Y*: 31.59%
• 5Y*: 14.45%
• 10Y*: —
• ALL TIME*: 6.24%

BRKL

• 1D: 0.36%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRKL Corgi BRKB 2x Daily ETF	$2.37K	$14.77K	$14.77K
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B	$43.33K	$56.22K	$58.39K

HDLB vs. BRKL - Yearly Performance Comparison

	2026 (YTD)
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B	8.36%
BRKL Corgi BRKB 2x Daily ETF	1.84%

Correlation

The correlation between HDLB and BRKL is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 7, 2026	0.59

Return for Risk

HDLB vs. BRKL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HDLB

HDLB Risk / Return Rank: 39
HDLB Sharpe Ratio Rank: 38
HDLB Sortino Ratio Rank: 39
HDLB Omega Ratio Rank: 37
HDLB Calmar Ratio Rank: 46
HDLB Martin Ratio Rank: 36

BRKL

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HDLB vs. BRKL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) and Corgi BRKB 2x Daily ETF (BRKL). 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.

	HDLB	BRKL	Difference
Sharpe ratio: Return per unit of total volatility	0.96	—	—
Sortino ratio: Return per unit of downside risk	1.48	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.70	—	—
Martin ratio: Return relative to average drawdown	3.66	—	—

Drawdowns

HDLB vs. BRKL - Drawdown Comparison

The maximum HDLB drawdown since its inception was -78.70%, which is greater than BRKL's maximum drawdown of -7.03%. Use the drawdown chart below to compare losses from any high point for HDLB and BRKL.

Drawdown Indicators

	HDLB	BRKL	Difference
Max Drawdown Largest peak-to-trough decline	-78.70%	-7.03%	-71.67%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.81%	—	—
Current Drawdown Current decline from peak	-5.07%	0.00%	-5.07%
Average Drawdown Average peak-to-trough decline	-26.99%	-3.93%	-23.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.52%	—	—

Volatility

Volatility by Period

	HDLB	BRKL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.69%	30.17%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.07%	30.17%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.42%	30.17%	+13.25%

HDLB vs. BRKL - Expense Ratio Comparison

HDLB has a 1.65% expense ratio, which is higher than BRKL's 0.45% expense ratio.

Dividends

HDLB vs. BRKL - Dividend Comparison

HDLB's dividend yield for the trailing twelve months is around 10.13%, while BRKL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BRKL Corgi BRKB 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B	10.13%	12.20%	10.09%	12.36%	10.86%	8.07%	16.23%	0.97%

Frequently Asked Questions

Can I hold both HDLB and BRKL in my portfolio?

HDLB and BRKL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDLB or BRKL?

On fees, BRKL is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDLB or BRKL?

BRKL is cheaper with a 0.45% expense ratio, compared with 1.65% for HDLB.

Which ETF pays a higher dividend yield, HDLB or BRKL?

HDLB has the higher dividend yield at 10.13%, compared with 0.00% for BRKL.

What is the main difference between HDLB and BRKL?

They also come from different issuers: UBS and Corgi. Their fees differ too: 1.65% for HDLB and 0.45% for BRKL.