IFED vs. VALG

Last updated Jul 16, 2026

IFED (ETRACS IFED Invest with the Fed TR Index ETN) and VALG (Leverage Shares 2X Long VALE Daily ETF) are both Leveraged Equities funds - IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross while VALG tracks the Vale S.A. (VALE). Both are passively managed. At a 0.25 correlation, their price movements are largely independent. IFED charges 0.45%/yr vs 0.75%/yr for VALG.

Performance

IFED vs. VALG - 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 Leverage Shares 2X Long VALE Daily ETF (VALG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IFED achieves a -3.70% return, which is significantly lower than VALG's 10.01% return.

IFED

• 1D: 0.00%
• 1M: -2.20%
• 6M: -3.47%
• YTD: -3.70%
• 1Y: 0.44%
• 3Y*: 14.90%
• 5Y*: —
• 10Y*: —

VALG

• 1D: 0.83%
• 1M: -17.56%
• 6M: -11.61%
• YTD: 10.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IFED vs. VALG - Yearly Performance Comparison

	2026 (YTD)	2025
IFED ETRACS IFED Invest with the Fed TR Index ETN	-3.70%	0.20%
VALG Leverage Shares 2X Long VALE Daily ETF	10.01%	1.57%

Correlation

The correlation between IFED and VALG is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.25

Return for Risk

IFED vs. VALG — Risk / Return Rank

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

IFED

IFED Risk / Return Rank: 9
IFED Sharpe Ratio Rank: 10
IFED Sortino Ratio Rank: 9
IFED Omega Ratio Rank: 9
IFED Calmar Ratio Rank: 10
IFED Martin Ratio Rank: 10

VALG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. VALG - 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 Leverage Shares 2X Long VALE Daily ETF (VALG). 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	VALG	Difference
Sharpe ratio: Return per unit of total volatility	0.02	—	—
Sortino ratio: Return per unit of downside risk	0.17	—	—
Omega ratio: Gain probability vs. loss probability	1.02	—	—
Calmar ratio: Return relative to maximum drawdown	0.03	—	—
Martin ratio: Return relative to average drawdown	0.07	—	—

Drawdowns

IFED vs. VALG - Drawdown Comparison

The maximum IFED drawdown since its inception was -22.36%, smaller than the maximum VALG drawdown of -41.01%. Use the drawdown chart below to compare losses from any high point for IFED and VALG.

Drawdown Indicators

	IFED	VALG	Difference
Max Drawdown Largest peak-to-trough decline	-22.36%	-41.01%	+18.65%
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	-5.67%	-36.33%	+30.66%
Average Drawdown Average peak-to-trough decline	-5.83%	-15.61%	+9.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.04%	—	—

Volatility

Volatility by Period

	IFED	VALG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	73.39%	-55.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.00%	73.39%	-53.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.00%	73.39%	-53.39%

IFED vs. VALG - Expense Ratio Comparison

IFED has a 0.45% expense ratio, which is lower than VALG's 0.75% expense ratio.

Dividends

IFED vs. VALG - Dividend Comparison

Neither IFED nor VALG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IFED and VALG in my portfolio?

IFED and VALG have a correlation of 0.25, 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 VALG?

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 VALG?

IFED is cheaper with a 0.45% expense ratio, compared with 0.75% for VALG.

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

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

What is the main difference between IFED and VALG?

IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross, while VALG tracks Vale S.A. (VALE). They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.45% for IFED and 0.75% for VALG.