IWDL vs. HDLB
Compare and contrast key facts about ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB).
IWDL and HDLB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWDL is a passively managed fund by UBS that tracks the performance of the Russell 1000 Value (200%). It was launched on Feb 5, 2021. HDLB is a passively managed fund by UBS that tracks the performance of the Solactive US High Dividend Low Volatility (USD)(TR) (200%). It was launched on Oct 24, 2019. Both IWDL and HDLB 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
IWDL vs. HDLB - Performance Comparison
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IWDL vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IWDL ETRACS 2x Leveraged US Value Factor TR ETN | 2.06% | 25.02% | 20.68% | 13.50% | -21.27% | 40.35% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 17.61% | 27.26% | 28.21% | -4.12% | -11.46% | 42.92% |
Returns By Period
In the year-to-date period, IWDL achieves a 2.06% return, which is significantly lower than HDLB's 17.61% return.
IWDL
- 1D
- 4.14%
- 1M
- -9.86%
- YTD
- 2.06%
- 6M
- 8.41%
- 1Y
- 23.96%
- 3Y*
- 20.71%
- 5Y*
- 10.87%
- 10Y*
- —
HDLB
- 1D
- 0.27%
- 1M
- -7.39%
- YTD
- 17.61%
- 6M
- 9.68%
- 1Y
- 20.54%
- 3Y*
- 25.14%
- 5Y*
- 15.09%
- 10Y*
- —
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IWDL vs. HDLB - Expense Ratio Comparison
IWDL has a 0.95% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Return for Risk
IWDL vs. HDLB — Risk / Return Rank
IWDL
HDLB
IWDL vs. HDLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB). 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.
| IWDL | HDLB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.71 | 0.63 | +0.08 |
Sortino ratioReturn per unit of downside risk | 1.20 | 1.02 | +0.18 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.14 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.13 | -0.02 |
Martin ratioReturn relative to average drawdown | 5.17 | 3.80 | +1.37 |
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
| IWDL | HDLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.63 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.50 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.12 | +0.33 |
Correlation
The correlation between IWDL and HDLB is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
IWDL vs. HDLB - Dividend Comparison
IWDL has not paid dividends to shareholders, while HDLB's dividend yield for the trailing twelve months is around 10.80%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IWDL ETRACS 2x Leveraged US Value Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 10.80% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
Drawdowns
IWDL vs. HDLB - Drawdown Comparison
The maximum IWDL drawdown since its inception was -37.95%, smaller than the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for IWDL and HDLB.
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Drawdown Indicators
| IWDL | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.95% | -78.70% | +40.75% |
Max Drawdown (1Y)Largest decline over 1 year | -23.92% | -20.94% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -37.95% | -43.81% | +5.86% |
Current DrawdownCurrent decline from peak | -9.95% | -7.94% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -10.91% | -27.93% | +17.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 6.23% | -1.11% |
Volatility
IWDL vs. HDLB - Volatility Comparison
ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) has a higher volatility of 8.82% compared to ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) at 8.24%. This indicates that IWDL's price experiences larger fluctuations and is considered to be riskier than HDLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWDL | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.82% | 8.24% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 18.05% | 20.54% | -2.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.77% | 32.79% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.32% | 30.42% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.24% | 43.95% | -13.71% |