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 14.90%/yr vs 18.11%/yr for CHGX. Their correlation of 0.82 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 -3.70% return, which is significantly lower than CHGX's 20.47% return.
IFED
- 1D
- 0.00%
- 1M
- -0.71%
- 6M
- -4.12%
- YTD
- -3.70%
- 1Y
- -0.46%
- 3Y*
- 14.90%
- 5Y*
- —
- 10Y*
- —
CHGX
- 1D
- -0.15%
- 1M
- -0.75%
- 6M
- 17.61%
- YTD
- 20.47%
- 1Y
- 26.28%
- 3Y*
- 18.11%
- 5Y*
- 9.91%
- 10Y*
- —
IFED vs. CHGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.70% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF | 20.47% | 12.13% | 15.16% | 23.65% | -21.77% | 4.57% |
Correlation
The correlation between IFED and CHGX is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.82 |
The correlation between IFED and CHGX shifts across timeframes, from 0.71 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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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 | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.31 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 3.11 | -3.14 |
| Martin ratioReturn relative to average drawdown | -0.08 | 11.72 | -11.79 |
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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 | -5.67% | -2.27% | -3.40% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -6.37% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.02% | 2.25% | +3.77% |
Volatility
IFED vs. CHGX - Volatility Comparison
ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a higher volatility of 7.00% compared to Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX) at 3.91%. 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 | 7.00% | 3.91% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.09% | 11.72% | +3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.76% | 14.58% | +3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.01% | 17.73% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.01% | 19.34% | +0.67% |
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 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (7.00%) compared to CHGX (3.91%). In terms of maximum drawdown, IFED dropped -22.36% vs CHGX's -35.49%.
On 3-year performance, CHGX leads with 18.11% vs 14.90% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, CHGX has been the lower-risk option at 3.91%. 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 18.11% return vs 14.90%. 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 (1.81 vs -0.03), 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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