IMTM vs. IFED
IMTM (iShares MSCI Intl Momentum Factor ETF) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both exchange-traded funds - IMTM is a Momentum fund tracking the MSCI World ex USA Momentum, while IFED is a Leveraged Equities fund tracking the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, IMTM returned 21.00%/yr vs 15.81%/yr for IFED. A 0.65 correlation means they provide meaningful diversification when combined. IMTM charges 0.30%/yr vs 0.45%/yr for IFED.
Performance
IMTM vs. IFED - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IMTM achieves a 11.53% return, which is significantly higher than IFED's -3.01% return.
IMTM
- 1D
- 0.72%
- 1M
- 3.24%
- YTD
- 11.53%
- 6M
- 12.83%
- 1Y
- 25.06%
- 3Y*
- 21.00%
- 5Y*
- 9.19%
- 10Y*
- 10.44%
IFED
- 1D
- -0.09%
- 1M
- 5.94%
- YTD
- -3.01%
- 6M
- -3.81%
- 1Y
- 4.31%
- 3Y*
- 15.81%
- 5Y*
- —
- 10Y*
- —
IMTM vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IMTM iShares MSCI Intl Momentum Factor ETF | 11.53% | 34.50% | 12.17% | 13.89% | -16.81% | -3.92% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.01% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between IMTM and IFED is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.65 |
The correlation between IMTM and IFED shifts across timeframes, from 0.45 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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
IMTM vs. IFED — Risk / Return Rank
IMTM
IFED
IMTM vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Momentum Factor ETF (IMTM) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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.
| IMTM | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.04 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 0.19 | +1.67 |
| Martin ratioReturn relative to average drawdown | 7.37 | 0.48 | +6.89 |
Loading charts...
Drawdowns
IMTM vs. IFED - Drawdown Comparison
The maximum IMTM drawdown since its inception was -32.66%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for IMTM and IFED.
Loading charts...
Drawdown Indicators
| IMTM | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.66% | -22.36% | -10.30% |
Max Drawdown (1Y)Largest decline over 1 year | -12.85% | -14.65% | +1.80% |
Max Drawdown (3Y)Largest decline over 3 years | -12.85% | -22.36% | +9.51% |
Max Drawdown (5Y)Largest decline over 5 years | -32.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.66% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | -5.00% | +4.78% |
Average DrawdownAverage peak-to-trough decline | -7.43% | -5.84% | -1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 5.84% | -2.60% |
Volatility
IMTM vs. IFED - Volatility Comparison
iShares MSCI Intl Momentum Factor ETF (IMTM) has a higher volatility of 7.20% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 6.34%. This indicates that IMTM's price experiences larger fluctuations and is considered to be riskier than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IMTM | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 6.34% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 16.06% | 13.63% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.97% | 16.80% | +1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.82% | 19.93% | -2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.63% | 19.93% | -2.30% |
IMTM vs. IFED - Expense Ratio Comparison
IMTM has a 0.30% expense ratio, which is lower than IFED's 0.45% expense ratio.
Dividends
IMTM vs. IFED - Dividend Comparison
IMTM's dividend yield for the trailing twelve months is around 4.22%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
IMTM iShares MSCI Intl Momentum Factor ETF | 4.22% | 4.70% | 2.93% | 2.29% | 2.68% | 2.51% | 0.97% | 2.13% | 2.36% | 1.92% | 2.75% | 1.56% |
Frequently Asked Questions
IMTM and IFED have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMTM has higher volatility (7.20%) compared to IFED (6.34%). In terms of maximum drawdown, IMTM dropped -32.66% vs IFED's -22.36%.
On 3-year performance, IMTM leads with 21.00% vs 15.81% for IFED. On fees, IMTM is cheaper at 0.30% per year. On volatility, IFED has been the lower-risk option at 6.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IMTM has performed better with a 21.00% return vs 15.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMTM is cheaper with a 0.30% expense ratio, compared with 0.45% for IFED.
IMTM has the higher dividend yield at 4.22%, compared with 0.00% for IFED.
IMTM is categorized as Momentum, while IFED is Leveraged Equities. IMTM tracks MSCI World ex USA Momentum, while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: iShares and UBS. Their fees differ too: 0.30% for IMTM and 0.45% for IFED.
IMTM currently has the higher Sharpe Ratio (1.33 vs 0.17), 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 IMTM and IFED
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