IFED vs. CHGX
IFED (ETRACS IFED Invest with the Fed TR Index ETN) and CHGX (Change Finance U.S. Large Cap Fossil Fuel Free ETF) are both exchange-traded funds - IFED is a Leveraged Equities fund tracking the IFED Large-Cap US Equity Index - Benchmark TR Gross, while CHGX is a Large Cap Growth Equities fund tracking the Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index. Both are passively managed. Over the past 3 years, IFED returned 15.90%/yr vs 19.63%/yr for CHGX. Their correlation of 0.83 suggests significant overlap in exposure. IFED charges 0.45%/yr vs 0.49%/yr for CHGX.
Performance
IFED vs. CHGX - Performance Comparison
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Returns By Period
In the year-to-date period, IFED achieves a -4.64% return, which is significantly lower than CHGX's 20.18% return.
IFED
- 1D
- -1.62%
- 1M
- 0.81%
- YTD
- -4.64%
- 6M
- -5.76%
- 1Y
- -0.20%
- 3Y*
- 15.90%
- 5Y*
- —
- 10Y*
- —
CHGX
- 1D
- -0.03%
- 1M
- 2.23%
- YTD
- 20.18%
- 6M
- 18.64%
- 1Y
- 28.09%
- 3Y*
- 19.63%
- 5Y*
- 9.96%
- 10Y*
- —
IFED vs. CHGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | -4.64% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF | 20.18% | 12.13% | 15.16% | 23.65% | -21.77% | 4.57% |
Correlation
The correlation between IFED and CHGX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.83 |
The correlation between IFED and CHGX has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
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Return for Risk
IFED vs. CHGX — Risk / Return Rank
IFED
CHGX
IFED vs. CHGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS IFED Invest with the Fed TR Index ETN (IFED) and Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX). 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.
| IFED | CHGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.33 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 3.32 | -3.33 |
| Martin ratioReturn relative to average drawdown | -0.03 | 12.70 | -12.73 |
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Drawdowns
IFED vs. CHGX - Drawdown Comparison
The maximum IFED drawdown since its inception was -22.36%, smaller than the maximum CHGX drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for IFED and CHGX.
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Drawdown Indicators
| IFED | CHGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.36% | -35.49% | +13.13% |
Max Drawdown (1Y)Largest decline over 1 year | -14.65% | -8.50% | -6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -22.36% | -18.09% | -4.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.26% | — |
Current DrawdownCurrent decline from peak | -6.60% | -2.50% | -4.10% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -6.40% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.90% | 2.22% | +3.68% |
Volatility
IFED vs. CHGX - Volatility Comparison
ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a higher volatility of 6.86% compared to Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX) at 6.11%. This indicates that IFED's price experiences larger fluctuations and is considered to be riskier than CHGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IFED | CHGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.86% | 6.11% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 13.89% | 11.74% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.90% | 14.53% | +2.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.92% | 17.73% | +2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.92% | 19.38% | +0.54% |
IFED vs. CHGX - Expense Ratio Comparison
IFED has a 0.45% expense ratio, which is lower than CHGX's 0.49% expense ratio.
Dividends
IFED vs. CHGX - Dividend Comparison
IFED has not paid dividends to shareholders, while CHGX's dividend yield for the trailing twelve months is around 0.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF | 0.56% | 0.67% | 0.76% | 0.94% | 1.11% | 0.56% | 0.58% | 0.86% | 0.00% | 0.59% |
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% | 0.00% |
Frequently Asked Questions
IFED and CHGX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (6.86%) compared to CHGX (6.11%). In terms of maximum drawdown, IFED dropped -22.36% vs CHGX's -35.49%.
On 3-year performance, CHGX leads with 19.63% vs 15.90% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, CHGX has been the lower-risk option at 6.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CHGX has performed better with a 19.63% return vs 15.90%. 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 0.49% for CHGX.
CHGX has the higher dividend yield at 0.56%, compared with 0.00% for IFED.
IFED is categorized as Leveraged Equities, while CHGX is Large Cap Growth Equities. IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross, while CHGX tracks Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index. They also come from different issuers: UBS and Change Finance. Their fees differ too: 0.45% for IFED and 0.49% for CHGX.
CHGX currently has the higher Sharpe Ratio (1.95 vs -0.01), 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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