IFED vs. ULE
Compare and contrast key facts about ETRACS IFED Invest with the Fed TR Index ETN (IFED) and ProShares Ultra Euro (ULE).
IFED and ULE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IFED is a passively managed fund by UBS that tracks the performance of the IFED Large-Cap US Equity Index - Benchmark TR Gross. It was launched on Sep 14, 2021. ULE is a passively managed fund by ProShares that tracks the performance of the USD/EUR Exchange Rate (-200%). It was launched on Nov 25, 2008. Both IFED and ULE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IFED vs. ULE - Performance Comparison
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IFED vs. ULE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | -10.70% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
ULE ProShares Ultra Euro | -3.35% | 25.97% | -11.73% | 5.08% | -15.51% | -8.26% |
Returns By Period
In the year-to-date period, IFED achieves a -10.70% return, which is significantly lower than ULE's -3.35% return.
IFED
- 1D
- 2.06%
- 1M
- -5.98%
- YTD
- -10.70%
- 6M
- -11.02%
- 1Y
- 5.41%
- 3Y*
- 14.83%
- 5Y*
- —
- 10Y*
- —
ULE
- 1D
- 2.13%
- 1M
- -4.20%
- YTD
- -3.35%
- 6M
- -3.70%
- 1Y
- 11.77%
- 3Y*
- 3.45%
- 5Y*
- -2.68%
- 10Y*
- -2.78%
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IFED vs. ULE - Expense Ratio Comparison
IFED has a 0.45% expense ratio, which is lower than ULE's 0.95% expense ratio.
Return for Risk
IFED vs. ULE — Risk / Return Rank
IFED
ULE
IFED vs. ULE - 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 Ultra Euro (ULE). 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 | ULE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.29 | 0.69 | -0.40 |
Sortino ratioReturn per unit of downside risk | 0.52 | 1.17 | -0.65 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.14 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.39 | 1.13 | -0.73 |
Martin ratioReturn relative to average drawdown | 1.24 | 2.74 | -1.50 |
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
| IFED | ULE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.29 | 0.69 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | -0.21 | +0.79 |
Correlation
The correlation between IFED and ULE is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IFED vs. ULE - Dividend Comparison
Neither IFED nor ULE has paid dividends to shareholders.
Drawdowns
IFED vs. ULE - Drawdown Comparison
The maximum IFED drawdown since its inception was -22.36%, smaller than the maximum ULE drawdown of -72.74%. Use the drawdown chart below to compare losses from any high point for IFED and ULE.
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Drawdown Indicators
| IFED | ULE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.36% | -72.74% | +50.38% |
Max Drawdown (1Y)Largest decline over 1 year | -14.65% | -10.40% | -4.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.30% | — |
Current DrawdownCurrent decline from peak | -12.52% | -62.27% | +49.75% |
Average DrawdownAverage peak-to-trough decline | -5.70% | -45.90% | +40.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.64% | 4.28% | +0.36% |
Volatility
IFED vs. ULE - Volatility Comparison
ETRACS IFED Invest with the Fed TR Index ETN (IFED) and ProShares Ultra Euro (ULE) have volatilities of 4.91% and 4.84%, 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
| IFED | ULE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 4.84% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 10.83% | 9.12% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 17.10% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.72% | 16.21% | +3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.72% | 15.31% | +4.41% |