IFED vs. SDP
IFED (ETRACS IFED Invest with the Fed TR Index ETN) and SDP (ProShares UltraShort Utilities) are both Leveraged Equities funds - IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross while SDP tracks the Dow Jones U.S. Utilities Index (-200%). Both are passively managed. Over the past 3 years, IFED returned 18.28%/yr vs -20.87%/yr for SDP. Their -0.29 correlation means they have often moved in opposite directions in the past. IFED charges 0.45%/yr vs 0.95%/yr for SDP.
Performance
IFED vs. SDP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IFED achieves a 6.57% return, which is significantly higher than SDP's -7.91% return.
IFED
- 1D
- 0.00%
- 1M
- 10.34%
- 6M
- 12.77%
- YTD
- 6.57%
- 1Y
- 9.27%
- 3Y*
- 18.28%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.61%
SDP
- 1D
- 1.27%
- 1M
- 7.76%
- 6M
- -5.83%
- YTD
- -7.91%
- 1Y
- -3.78%
- 3Y*
- -20.87%
- 5Y*
- -15.38%
- 10Y*
- -20.52%
- ALL TIME*
- -21.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $121.94K | $80.88K | $45.76K | |
| $185.52K | $102.22K | $83.74K |
IFED vs. SDP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | 6.57% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
SDP ProShares UltraShort Utilities | -7.91% | -22.59% | -30.11% | 18.95% | -12.54% | -14.91% |
Correlation
The correlation between IFED and SDP is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.29 |
Over the past year, the inverse relationship between IFED and SDP has weakened: their correlation has moved from -0.29 to -0.01, meaning they move in opposite directions less often than they have historically.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IFED vs. SDP — Risk / Return Rank
IFED
SDP
IFED vs. SDP - 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 ProShares UltraShort Utilities (SDP). 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 | SDP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.00 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | -0.15 | +0.61 |
| Martin ratioReturn relative to average drawdown | 1.43 | -0.24 | +1.67 |
Loading charts...
Drawdowns
IFED vs. SDP - Drawdown Comparison
The maximum IFED drawdown since its inception was -22.36%, smaller than the maximum SDP drawdown of -99.56%. Use the drawdown chart below to compare losses from any high point for IFED and SDP.
Loading charts...
Drawdown Indicators
| IFED | SDP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.36% | -99.56% | +77.20% |
Max Drawdown (1Y)Largest decline over 1 year | -20.18% | -25.44% | +5.26% |
Max Drawdown (3Y)Largest decline over 3 years | -22.36% | -66.17% | +43.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -66.17% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.43% | — |
Current DrawdownCurrent decline from peak | -10.51% | -99.50% | +88.99% |
Average DrawdownAverage peak-to-trough decline | -5.85% | -82.25% | +76.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 15.51% | -9.01% |
Volatility
IFED vs. SDP - Volatility Comparison
ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a higher volatility of 24.37% compared to ProShares UltraShort Utilities (SDP) at 8.26%. This indicates that IFED's price experiences larger fluctuations and is considered to be riskier than SDP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IFED | SDP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.37% | 8.26% | +16.11% |
Volatility (6M)Calculated over the trailing 6-month period | 28.12% | 23.98% | +4.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.47% | 30.17% | -0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.59% | 34.44% | -11.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.59% | 37.63% | -15.04% |
IFED vs. SDP - Expense Ratio Comparison
IFED has a 0.45% expense ratio, which is lower than SDP's 0.95% expense ratio.
Dividends
IFED vs. SDP - Dividend Comparison
IFED has not paid dividends to shareholders, while SDP's dividend yield for the trailing twelve months is around 4.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SDP ProShares UltraShort Utilities | 4.03% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% |
Frequently Asked Questions
IFED and SDP have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (24.37%) compared to SDP (8.26%). In terms of maximum drawdown, IFED dropped -22.36% vs SDP's -99.56%.
On 3-year performance, IFED leads with 18.28% vs -20.87% for SDP. On fees, IFED is cheaper at 0.45% per year. On volatility, SDP has been the lower-risk option at 8.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 18.28% return vs -20.87%. 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 0.95% for SDP.
SDP has the higher dividend yield at 4.03%, compared with 0.00% for IFED.
IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross, while SDP tracks Dow Jones U.S. Utilities Index (-200%). They also come from different issuers: UBS and ProShares. Their fees differ too: 0.45% for IFED and 0.95% for SDP.
IFED currently has the higher Sharpe Ratio (0.32 vs -0.13), 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.
Find the right allocation for IFED and SDP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer