IWDL vs. SLVO
IWDL (ETRACS 2x Leveraged US Value Factor TR ETN) and SLVO (UBS ETRACS Silver Shares Covered Call ETN) are both exchange-traded funds - IWDL is a Leveraged Equities fund tracking the Russell 1000 Value (200%), while SLVO is a Silver fund tracking the Credit Suisse NASDAQ Silver FLOWS 106 Index. Both are passively managed. Over the past year, IWDL returned 68.31% vs 28.95% for SLVO. Their 0.23 correlation means their historical movements had little consistent relationship. IWDL charges 0.95%/yr vs 0.65%/yr for SLVO.
Performance
IWDL vs. SLVO - Performance Comparison
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Returns By Period
In the year-to-date period, IWDL achieves a 42.20% return, which is significantly higher than SLVO's -4.57% return.
IWDL
- 1D
- 2.15%
- 1M
- 6.40%
- 6M
- 29.25%
- YTD
- 42.20%
- 1Y
- 68.31%
- 3Y*
- 30.93%
- 5Y*
- 16.51%
- 10Y*
- —
- ALL TIME*
- 19.76%
SLVO
- 1D
- 0.08%
- 1M
- -3.13%
- 6M
- -5.88%
- YTD
- -4.57%
- 1Y
- 28.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 25.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.68K | $87.17K | $54.40K | |
| $28.81M | $16.43M | $13.55M |
IWDL vs. SLVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWDL ETRACS 2x Leveraged US Value Factor TR ETN | 42.20% | 25.02% | 7.85% |
SLVO UBS ETRACS Silver Shares Covered Call ETN | -4.57% | 71.20% | 0.94% |
Correlation
The correlation between IWDL and SLVO is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | 0.23 |
The correlation between IWDL and SLVO shifts across timeframes, from 0.23 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IWDL vs. SLVO — Risk / Return Rank
IWDL
SLVO
IWDL vs. SLVO - 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 UBS ETRACS Silver Shares Covered Call ETN (SLVO). 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.
| IWDL | SLVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.19 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 5.07 | 1.31 | +3.76 |
| Martin ratioReturn relative to average drawdown | 21.46 | 3.70 | +17.76 |
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Drawdowns
IWDL vs. SLVO - Drawdown Comparison
The maximum IWDL drawdown since its inception was -37.95%, which is greater than SLVO's maximum drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for IWDL and SLVO.
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Drawdown Indicators
| IWDL | SLVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.95% | -22.21% | -15.74% |
Max Drawdown (1Y)Largest decline over 1 year | -13.53% | -22.21% | +8.68% |
Max Drawdown (3Y)Largest decline over 3 years | -31.78% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.95% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -18.61% | +18.61% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -4.08% | -6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 7.84% | -4.65% |
Volatility
IWDL vs. SLVO - Volatility Comparison
The current volatility for ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) is 5.53%, while UBS ETRACS Silver Shares Covered Call ETN (SLVO) has a volatility of 9.92%. This indicates that IWDL experiences smaller price fluctuations and is considered to be less risky than SLVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWDL | SLVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.53% | 9.92% | -4.39% |
Volatility (6M)Calculated over the trailing 6-month period | 16.94% | 28.88% | -11.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.34% | 33.51% | -10.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.24% | 26.74% | +3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.82% | 26.74% | +3.08% |
IWDL vs. SLVO - Expense Ratio Comparison
IWDL has a 0.95% expense ratio, which is higher than SLVO's 0.65% expense ratio.
Dividends
IWDL vs. SLVO - Dividend Comparison
IWDL has not paid dividends to shareholders, while SLVO's dividend yield for the trailing twelve months is around 73.23%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IWDL ETRACS 2x Leveraged US Value Factor TR ETN | 0.00% | 0.00% | 0.00% |
SLVO UBS ETRACS Silver Shares Covered Call ETN | 73.23% | 19.35% | 14.45% |
Frequently Asked Questions
IWDL and SLVO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLVO has higher volatility (9.92%) compared to IWDL (5.53%). In terms of maximum drawdown, IWDL dropped -37.95% vs SLVO's -22.21%.
On 1-year performance, IWDL leads with 68.31% vs 28.95% for SLVO. On fees, SLVO is cheaper at 0.65% per year. On volatility, IWDL has been the lower-risk option at 5.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWDL has performed better with a 68.31% return vs 28.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVO is cheaper with a 0.65% expense ratio, compared with 0.95% for IWDL.
SLVO has the higher dividend yield at 73.23%, compared with 0.00% for IWDL.
IWDL is categorized as Leveraged Equities, while SLVO is Silver. IWDL tracks Russell 1000 Value (200%), while SLVO tracks Credit Suisse NASDAQ Silver FLOWS 106 Index. Their fees differ too: 0.95% for IWDL and 0.65% for SLVO.
IWDL currently has the higher Sharpe Ratio (2.95 vs 0.87), 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.
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