HDLB vs. COTG

Last updated Jun 4, 2026

HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) and COTG (Leverage Shares 2X Long COST Daily ETF) are both Leveraged Equities funds. HDLB is passively managed, while COTG is actively managed. At a 0.16 correlation, their price movements are largely independent. HDLB charges 1.65%/yr vs 0.75%/yr for COTG.

Performance

HDLB vs. COTG - 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 Leverage Shares 2X Long COST Daily ETF (COTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDLB achieves a 9.69% return, which is significantly lower than COTG's 17.32% return.

HDLB

• 1D: -1.72%
• 1M: -4.18%
• YTD: 9.69%
• 6M: 8.78%
• 1Y: 17.78%
• 3Y*: 26.82%
• 5Y*: 11.24%
• 10Y*: —

COTG

• 1D: 1.39%
• 1M: -11.21%
• YTD: 17.32%
• 6M: 1.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HDLB vs. COTG - Yearly Performance Comparison

	2026 (YTD)	2025
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B	9.69%	-4.85%
COTG Leverage Shares 2X Long COST Daily ETF	17.32%	-21.71%

Correlation

The correlation between HDLB and COTG is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 19, 2025	0.16

Return for Risk

HDLB vs. COTG — Risk / Return Rank

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

HDLB

HDLB Risk / Return Rank: 21
HDLB Sharpe Ratio Rank: 20
HDLB Sortino Ratio Rank: 20
HDLB Omega Ratio Rank: 20
HDLB Calmar Ratio Rank: 25
HDLB Martin Ratio Rank: 22

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.

HDLB vs. COTG - 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 Leverage Shares 2X Long COST Daily ETF (COTG). 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.

	HDLB	COTG	Difference
Sharpe ratio: Return per unit of total volatility	0.68	—	—
Sortino ratio: Return per unit of downside risk	1.11	—	—
Omega ratio: Gain probability vs. loss probability	1.13	—	—
Calmar ratio: Return relative to maximum drawdown	1.23	—	—
Martin ratio: Return relative to average drawdown	2.69	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HDLB	COTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	-0.28	+0.38

Drawdowns

HDLB vs. COTG - Drawdown Comparison

The maximum HDLB drawdown since its inception was -78.70%, which is greater than COTG's maximum drawdown of -25.69%. Use the drawdown chart below to compare losses from any high point for HDLB and COTG.

Drawdown Indicators

	HDLB	COTG	Difference
Max Drawdown Largest peak-to-trough decline	-78.70%	-25.69%	-53.01%
Max Drawdown (1Y) Largest decline over 1 year	-14.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.81%	—	—
Current Drawdown Current decline from peak	-14.15%	-23.48%	+9.33%
Average Drawdown Average peak-to-trough decline	-27.47%	-8.35%	-19.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.62%	—	—

Volatility

Volatility by Period

	HDLB	COTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.46%	40.65%	-14.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.55%	40.65%	-10.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.58%	40.65%	+2.93%

HDLB vs. COTG - Expense Ratio Comparison

HDLB has a 1.65% expense ratio, which is higher than COTG's 0.75% expense ratio.

Dividends

HDLB vs. COTG - Dividend Comparison

HDLB's dividend yield for the trailing twelve months is around 12.13%, while COTG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
COTG Leverage Shares 2X Long COST 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	12.13%	12.20%	10.09%	12.36%	10.86%	8.07%	16.23%	0.97%

Frequently Asked Questions

Can I hold both HDLB and COTG in my portfolio?

HDLB and COTG have a correlation of 0.16, 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 COTG?

On fees, COTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDLB or COTG?

COTG is cheaper with a 0.75% expense ratio, compared with 1.65% for HDLB.

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

HDLB has the higher dividend yield at 12.13%, compared with 0.00% for COTG.

What is the main difference between HDLB and COTG?

They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 1.65% for HDLB and 0.75% for COTG.