MLPR vs. HDLB
MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) and HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) are both Leveraged Equities funds from UBS - MLPR tracks the Alerian MLP Index (150%) while HDLB tracks the Solactive US High Dividend Low Volatility (USD)(TR) (200%). Both are passively managed. Over the past 5 years, MLPR returned 26.89%/yr vs 11.24%/yr for HDLB. At a 0.49 correlation, their price movements are largely independent. MLPR charges 0.95%/yr vs 1.65%/yr for HDLB.
Performance
MLPR vs. HDLB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MLPR achieves a 29.81% return, which is significantly higher than HDLB's 9.69% return.
MLPR
- 1D
- -0.37%
- 1M
- -1.12%
- YTD
- 29.81%
- 6M
- 26.95%
- 1Y
- 32.42%
- 3Y*
- 32.14%
- 5Y*
- 26.89%
- 10Y*
- —
HDLB
- 1D
- -1.72%
- 1M
- -4.18%
- YTD
- 9.69%
- 6M
- 8.78%
- 1Y
- 17.78%
- 3Y*
- 26.82%
- 5Y*
- 11.24%
- 10Y*
- —
MLPR vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 29.81% | 9.83% | 31.57% | 35.87% | 41.04% | 57.33% | -9.51% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 9.69% | 27.26% | 28.21% | -4.12% | -11.46% | 62.67% | 4.73% |
Correlation
The correlation between MLPR and HDLB is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.49 |
The correlation between MLPR and HDLB shifts across timeframes, from 0.35 (1 year) to 0.49 (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
MLPR vs. HDLB — Risk / Return Rank
MLPR
HDLB
MLPR vs. HDLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) 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.
| MLPR | HDLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.13 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 1.23 | +1.10 |
| Martin ratioReturn relative to average drawdown | 7.53 | 2.69 | +4.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MLPR | HDLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 0.68 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.37 | +0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.10 | +0.84 |
Drawdowns
MLPR vs. HDLB - Drawdown Comparison
The maximum MLPR drawdown since its inception was -48.98%, smaller than the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for MLPR and HDLB.
Loading charts...
Drawdown Indicators
| MLPR | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -78.70% | +29.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.97% | -14.50% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -24.45% | -22.46% | -1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -28.66% | -43.81% | +15.15% |
Current DrawdownCurrent decline from peak | -7.07% | -14.15% | +7.08% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -27.47% | +18.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 6.62% | -2.30% |
Volatility
MLPR vs. HDLB - Volatility Comparison
ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) has a higher volatility of 8.12% compared to ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) at 6.21%. This indicates that MLPR'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.
Loading charts...
Volatility by Period
| MLPR | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.12% | 6.21% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 14.85% | 18.14% | -3.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.64% | 26.46% | -5.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.52% | 30.55% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.75% | 43.58% | -9.83% |
MLPR vs. HDLB - Expense Ratio Comparison
MLPR has a 0.95% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Dividends
MLPR vs. HDLB - Dividend Comparison
MLPR's dividend yield for the trailing twelve months is around 9.00%, less than HDLB's 12.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 12.13% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 9.00% | 10.85% | 9.57% | 10.08% | 7.49% | 10.69% | 4.21% | 0.00% |
Frequently Asked Questions
MLPR and HDLB have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPR has higher volatility (8.12%) compared to HDLB (6.21%). In terms of maximum drawdown, MLPR dropped -48.98% vs HDLB's -78.70%.
On 5-year performance, MLPR leads with 26.89% vs 11.24% for HDLB. On fees, MLPR is cheaper at 0.95% per year. On volatility, HDLB has been the lower-risk option at 6.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MLPR has performed better with a 26.89% return vs 11.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLPR is cheaper with a 0.95% expense ratio, compared with 1.65% for HDLB.
HDLB has the higher dividend yield at 12.13%, compared with 9.00% for MLPR.
MLPR tracks Alerian MLP Index (150%), while HDLB tracks Solactive US High Dividend Low Volatility (USD)(TR) (200%). Their fees differ too: 0.95% for MLPR and 1.65% for HDLB.
MLPR currently has the higher Sharpe Ratio (1.59 vs 0.68), 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 MLPR and HDLB
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