IFED vs. FBGX

Last updated Jun 4, 2026

IFED (ETRACS IFED Invest with the Fed TR Index ETN) and FBGX (UBS AG FI Enhanced Large Cap Growth ETN) are both Leveraged Equities funds from UBS - IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross while FBGX tracks the Russell 1000 Growth Index (200%). Both are passively managed. A 0.58 correlation means they provide meaningful diversification when combined. IFED charges 0.45%/yr vs 1.29%/yr for FBGX.

Performance

IFED vs. FBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS IFED Invest with the Fed TR Index ETN (IFED) and UBS AG FI Enhanced Large Cap Growth ETN (FBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IFED

• 1D: -1.24%
• 1M: 4.85%
• YTD: -3.52%
• 6M: -3.51%
• 1Y: 1.97%
• 3Y*: 16.71%
• 5Y*: —
• 10Y*: —

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IFED vs. FBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IFED ETRACS IFED Invest with the Fed TR Index ETN	-3.52%	15.02%	23.04%	20.78%	-1.46%	8.46%
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	11.22%

Correlation

The correlation between IFED and FBGX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021	0.58

The correlation between IFED and FBGX shifts across timeframes, from 0.36 (3 years) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IFED vs. FBGX — Risk / Return Rank

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

IFED

IFED Risk / Return Rank: 10
IFED Sharpe Ratio Rank: 10
IFED Sortino Ratio Rank: 10
IFED Omega Ratio Rank: 10
IFED Calmar Ratio Rank: 10
IFED Martin Ratio Rank: 10

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.

IFED vs. FBGX - 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 UBS AG FI Enhanced Large Cap Growth ETN (FBGX). 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.

	IFED	FBGX	Difference
Sharpe ratio: Return per unit of total volatility	0.12	—	—
Sortino ratio: Return per unit of downside risk	0.29	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.14	—	—
Martin ratio: Return relative to average drawdown	0.34	—	—
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

	IFED	FBGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	—	—

Drawdowns

Drawdown Indicators

	IFED	FBGX	Difference
Max Drawdown Largest peak-to-trough decline	-22.36%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.65%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.36%	—	—
Current Drawdown Current decline from peak	-5.50%	—	—
Average Drawdown Average peak-to-trough decline	-5.84%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.75%	—	—

Volatility

Volatility by Period

	IFED	FBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.88%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.88%	—	—

IFED vs. FBGX - Expense Ratio Comparison

IFED has a 0.45% expense ratio, which is lower than FBGX's 1.29% expense ratio.

Dividends

IFED vs. FBGX - Dividend Comparison

Neither IFED nor FBGX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IFED and FBGX in my portfolio?

IFED and FBGX 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, IFED or FBGX?

On fees, IFED 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, IFED or FBGX?

IFED is cheaper with a 0.45% expense ratio, compared with 1.29% for FBGX.

Which ETF pays a higher dividend yield, IFED or FBGX?

IFED and FBGX have nearly identical dividend yields, around 0.00%.

What is the main difference between IFED and FBGX?

IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross, while FBGX tracks Russell 1000 Growth Index (200%). Their fees differ too: 0.45% for IFED and 1.29% for FBGX.