HDLB vs. SLVO
HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) and SLVO (UBS ETRACS Silver Shares Covered Call ETN) are both exchange-traded funds - HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%), while SLVO is a Silver fund tracking the Credit Suisse NASDAQ Silver FLOWS 106 Index. Both are passively managed. Over the past year, HDLB returned 17.78% vs 62.53% for SLVO. At a 0.04 correlation, their price movements are largely independent. HDLB charges 1.65%/yr vs 0.65%/yr for SLVO.
Performance
HDLB vs. SLVO - Performance Comparison
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Returns By Period
In the year-to-date period, HDLB achieves a 9.69% return, which is significantly lower than SLVO's 13.49% return.
HDLB
- 1D
- -1.72%
- 1M
- -4.18%
- YTD
- 9.69%
- 6M
- 8.78%
- 1Y
- 17.78%
- 3Y*
- 26.82%
- 5Y*
- 11.24%
- 10Y*
- —
SLVO
- 1D
- -1.17%
- 1M
- 4.05%
- YTD
- 13.49%
- 6M
- 17.86%
- 1Y
- 62.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDLB vs. SLVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 9.69% | 27.26% | 18.94% |
SLVO UBS ETRACS Silver Shares Covered Call ETN | 13.49% | 71.20% | 1.24% |
Correlation
The correlation between HDLB and SLVO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | 0.04 |
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Return for Risk
HDLB vs. SLVO — Risk / Return Rank
HDLB
SLVO
HDLB vs. SLVO - 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 UBS ETRACS Silver Shares Covered Call ETN (SLVO). 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 | SLVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.44 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 3.65 | -2.42 |
| Martin ratioReturn relative to average drawdown | 2.69 | 15.01 | -12.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HDLB | SLVO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 2.13 | -1.45 |
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 | 1.61 | -1.51 |
Drawdowns
HDLB vs. SLVO - Drawdown Comparison
The maximum HDLB drawdown since its inception was -78.70%, which is greater than SLVO's maximum drawdown of -17.23%. Use the drawdown chart below to compare losses from any high point for HDLB and SLVO.
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Drawdown Indicators
| HDLB | SLVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.70% | -17.23% | -61.47% |
Max Drawdown (1Y)Largest decline over 1 year | -14.50% | -17.23% | +2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.81% | — | — |
Current DrawdownCurrent decline from peak | -14.15% | -3.22% | -10.93% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -3.13% | -24.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 4.18% | +2.44% |
Volatility
HDLB vs. SLVO - Volatility Comparison
ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) and UBS ETRACS Silver Shares Covered Call ETN (SLVO) have volatilities of 6.21% and 6.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDLB | SLVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 6.39% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 18.14% | 27.33% | -9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.46% | 29.53% | -3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.55% | 25.23% | +5.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.58% | 25.23% | +18.35% |
HDLB vs. SLVO - Expense Ratio Comparison
HDLB has a 1.65% expense ratio, which is higher than SLVO's 0.65% expense ratio.
Dividends
HDLB vs. SLVO - Dividend Comparison
HDLB's dividend yield for the trailing twelve months is around 12.13%, less than SLVO's 46.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
SLVO UBS ETRACS Silver Shares Covered Call ETN | 46.44% | 19.35% | 14.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDLB and SLVO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLVO has higher volatility (6.39%) compared to HDLB (6.21%). In terms of maximum drawdown, HDLB dropped -78.70% vs SLVO's -17.23%.
On 1-year performance, SLVO leads with 62.53% vs 17.78% for HDLB. On fees, SLVO is cheaper at 0.65% per year. On volatility, HDLB has been the lower-risk option at 6.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SLVO has performed better with a 62.53% return vs 17.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVO is cheaper with a 0.65% expense ratio, compared with 1.65% for HDLB.
SLVO has the higher dividend yield at 46.44%, compared with 12.13% for HDLB.
HDLB is categorized as Leveraged Equities, while SLVO is Silver. HDLB tracks Solactive US High Dividend Low Volatility (USD)(TR) (200%), while SLVO tracks Credit Suisse NASDAQ Silver FLOWS 106 Index. Their fees differ too: 1.65% for HDLB and 0.65% for SLVO.
SLVO currently has the higher Sharpe Ratio (2.13 vs 0.68), 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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