IWDL vs. VTV
IWDL (ETRACS 2x Leveraged US Value Factor TR ETN) and VTV (Vanguard Value ETF) are both exchange-traded funds - IWDL is a Leveraged Equities fund tracking the Russell 1000 Value (200%), while VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index. Both are passively managed. Over the past 5 years, IWDL returned 14.46%/yr vs 12.22%/yr for VTV. With a 0.97 correlation, they move nearly in lockstep. IWDL charges 0.95%/yr vs 0.04%/yr for VTV.
Performance
IWDL vs. VTV - Performance Comparison
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Returns By Period
In the year-to-date period, IWDL achieves a 28.58% return, which is significantly higher than VTV's 14.47% return.
IWDL
- 1D
- -1.65%
- 1M
- 3.97%
- YTD
- 28.58%
- 6M
- 26.90%
- 1Y
- 53.41%
- 3Y*
- 29.95%
- 5Y*
- 14.46%
- 10Y*
- —
VTV
- 1D
- -0.56%
- 1M
- 3.10%
- YTD
- 14.47%
- 6M
- 13.93%
- 1Y
- 27.19%
- 3Y*
- 18.66%
- 5Y*
- 12.22%
- 10Y*
- 12.95%
IWDL vs. VTV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IWDL ETRACS 2x Leveraged US Value Factor TR ETN | 28.58% | 25.02% | 20.68% | 13.50% | -21.27% | 40.35% |
VTV Vanguard Value ETF | 14.47% | 15.27% | 15.95% | 9.32% | -2.09% | 23.24% |
Correlation
The correlation between IWDL and VTV is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.97 |
The correlation between IWDL and VTV has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
IWDL vs. VTV — Risk / Return Rank
IWDL
VTV
IWDL vs. VTV - 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 Vanguard Value ETF (VTV). 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 | VTV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.47 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | 4.30 | -0.33 |
| Martin ratioReturn relative to average drawdown | 16.20 | 16.20 | -0.01 |
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Drawdowns
IWDL vs. VTV - Drawdown Comparison
The maximum IWDL drawdown since its inception was -37.95%, smaller than the maximum VTV drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for IWDL and VTV.
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Drawdown Indicators
| IWDL | VTV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.95% | -59.27% | +21.32% |
Max Drawdown (1Y)Largest decline over 1 year | -13.53% | -6.35% | -7.18% |
Max Drawdown (3Y)Largest decline over 3 years | -31.78% | -14.52% | -17.26% |
Max Drawdown (5Y)Largest decline over 5 years | -37.95% | -17.04% | -20.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.78% | — |
Current DrawdownCurrent decline from peak | -2.12% | -0.56% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -10.50% | -7.85% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 1.68% | +1.63% |
Volatility
IWDL vs. VTV - Volatility Comparison
ETRACS 2x Leveraged US Value Factor TR ETN (IWDL) has a higher volatility of 7.25% compared to Vanguard Value ETF (VTV) at 3.41%. This indicates that IWDL's price experiences larger fluctuations and is considered to be riskier than VTV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWDL | VTV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.25% | 3.41% | +3.84% |
Volatility (6M)Calculated over the trailing 6-month period | 18.33% | 7.85% | +10.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.35% | 10.39% | +12.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.33% | 13.88% | +16.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.00% | 16.65% | +13.35% |
IWDL vs. VTV - Expense Ratio Comparison
IWDL has a 0.95% expense ratio, which is higher than VTV's 0.04% expense ratio.
Dividends
IWDL vs. VTV - Dividend Comparison
IWDL has not paid dividends to shareholders, while VTV's dividend yield for the trailing twelve months is around 1.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
VTV Vanguard Value ETF | 1.83% | 2.05% | 2.31% | 2.46% | 2.52% | 2.15% | 2.56% | 2.50% | 2.73% | 2.29% | 2.44% | 2.60% |
Frequently Asked Questions
With a correlation of 0.92, IWDL and VTV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IWDL has higher volatility (7.25%) compared to VTV (3.41%). In terms of maximum drawdown, IWDL dropped -37.95% vs VTV's -59.27%.
On 5-year performance, IWDL leads with 14.46% vs 12.22% for VTV. On fees, VTV is cheaper at 0.04% per year. On volatility, VTV has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IWDL has performed better with a 14.46% return vs 12.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTV is cheaper with a 0.04% expense ratio, compared with 0.95% for IWDL.
VTV has the higher dividend yield at 1.83%, compared with 0.00% for IWDL.
IWDL is categorized as Leveraged Equities, while VTV is Large Cap Value Equities. IWDL tracks Russell 1000 Value (200%), while VTV tracks CRSP US Large Cap Value Index. They also come from different issuers: UBS and Vanguard. Their fees differ too: 0.95% for IWDL and 0.04% for VTV.
VTV currently has the higher Sharpe Ratio (2.63 vs 2.30), 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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