IWDL vs. IFED

Last updated Apr 1, 2026

Compare and contrast key facts about ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) and ETRACS IFED Invest with the Fed TR Index ETN (IFED).

IWDL and IFED 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. 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. Both IWDL and IFED 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. IFED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). The values are adjusted to include any dividend payments, if applicable.

IWDL vs. IFED - 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%	9.92%
IFED ETRACS IFED Invest with the Fed TR Index ETN	-10.70%	15.02%	23.04%	20.78%	-1.46%	8.46%

Returns By Period

In the year-to-date period, IWDL achieves a 2.06% return, which is significantly higher than IFED's -10.70% return.

IWDL

• 1D: 4.14%
• 1M: -9.86%
• YTD: 2.06%
• 6M: 8.41%
• 1Y: 23.96%
• 3Y*: 20.71%
• 5Y*: 10.87%
• 10Y*: —

IFED

• 1D: 2.06%
• 1M: -5.98%
• YTD: -10.70%
• 6M: -11.02%
• 1Y: 5.41%
• 3Y*: 14.83%
• 5Y*: —
• 10Y*: —

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

IWDL vs. IFED - Expense Ratio Comparison

IWDL has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.

IWDL

ETRACS 2x Leveraged US Value Factor TR ETN

IFED

ETRACS IFED Invest with the Fed TR Index ETN

Return for Risk

IWDL vs. IFED — Risk / Return Rank

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

IWDL

IWDL Risk / Return Rank: 45
IWDL Sharpe Ratio Rank: 39
IWDL Sortino Ratio Rank: 44
IWDL Omega Ratio Rank: 47
IWDL Calmar Ratio Rank: 43
IWDL Martin Ratio Rank: 54

IFED

IFED Risk / Return Rank: 20
IFED Sharpe Ratio Rank: 19
IFED Sortino Ratio Rank: 19
IFED Omega Ratio Rank: 20
IFED Calmar Ratio Rank: 20
IFED Martin Ratio Rank: 21

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.

IWDL vs. IFED - 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 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.

	IWDL	IFED	Difference
Sharpe ratio Return per unit of total volatility	0.71	0.29	+0.42
Sortino ratio Return per unit of downside risk	1.20	0.52	+0.68
Omega ratio Gain probability vs. loss probability	1.18	1.07	+0.11
Calmar ratio Return relative to maximum drawdown	1.11	0.39	+0.72
Martin ratio Return relative to average drawdown	5.17	1.24	+3.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWDL vs. IFED - Sharpe Ratio Comparison

The current IWDL Sharpe Ratio is 0.71, which is higher than the IFED Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of IWDL and IFED, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IWDL	IFED	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	0.29	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.58	-0.13

Correlation

The correlation between IWDL and IFED is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IWDL vs. IFED - Dividend Comparison

Neither IWDL nor IFED has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

IWDL vs. IFED - Drawdown Comparison

The maximum IWDL drawdown since its inception was -37.95%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for IWDL and IFED.

Drawdown Indicators

	IWDL	IFED	Difference
Max Drawdown Largest peak-to-trough decline	-37.95%	-22.36%	-15.59%
Max Drawdown (1Y) Largest decline over 1 year	-23.92%	-14.65%	-9.27%
Max Drawdown (5Y) Largest decline over 5 years	-37.95%	—	—
Current Drawdown Current decline from peak	-9.95%	-12.52%	+2.57%
Average Drawdown Average peak-to-trough decline	-10.91%	-5.70%	-5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.12%	4.64%	+0.48%

Volatility

IWDL vs. IFED - Volatility Comparison

ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) has a higher volatility of 8.82% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.91%. This indicates that IWDL'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.

Volatility by Period

	IWDL	IFED	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.82%	4.91%	+3.91%
Volatility (6M) Calculated over the trailing 6-month period	18.05%	10.83%	+7.22%
Volatility (1Y) Calculated over the trailing 1-year period	33.77%	18.80%	+14.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.32%	19.72%	+10.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.24%	19.72%	+10.52%