MLPR vs. IFED

Last updated Jun 4, 2026

MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds from UBS - MLPR tracks the Alerian MLP Index (150%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, MLPR returned 32.14%/yr vs 16.71%/yr for IFED. At a 0.48 correlation, their price movements are largely independent. MLPR charges 0.95%/yr vs 0.45%/yr for IFED.

Performance

MLPR vs. IFED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPR achieves a 29.81% return, which is significantly higher than IFED's -3.52% return.

MLPR

• 1D: -0.37%
• 1M: -1.12%
• YTD: 29.81%
• 6M: 26.95%
• 1Y: 32.42%
• 3Y*: 32.14%
• 5Y*: 26.89%
• 10Y*: —

IFED

• 1D: -1.24%
• 1M: 4.85%
• YTD: -3.52%
• 6M: -3.51%
• 1Y: 1.97%
• 3Y*: 16.71%
• 5Y*: —
• 10Y*: —

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

MLPR vs. IFED - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN	29.81%	9.83%	31.57%	35.87%	41.04%	2.13%
IFED ETRACS IFED Invest with the Fed TR Index ETN	-3.52%	15.02%	23.04%	20.78%	-1.46%	8.46%

Correlation

The correlation between MLPR and IFED is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021	0.48

Over the past year, the correlation between MLPR and IFED has dropped to 0.05 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

MLPR vs. IFED — Risk / Return Rank

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

MLPR

MLPR Risk / Return Rank: 44
MLPR Sharpe Ratio Rank: 45
MLPR Sortino Ratio Rank: 41
MLPR Omega Ratio Rank: 42
MLPR Calmar Ratio Rank: 47
MLPR Martin Ratio Rank: 45

IFED

IFED Risk / Return Rank: 10
IFED Sharpe Ratio Rank: 10
IFED Sortino Ratio Rank: 10
IFED Omega Ratio Rank: 10
IFED Calmar Ratio Rank: 10
IFED Martin Ratio Rank: 10

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.

MLPR vs. IFED - 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 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.

	MLPR	IFED	Difference
Sharpe ratio: Return per unit of total volatility	1.59	0.12	+1.46
Sortino ratio: Return per unit of downside risk	2.11	0.29	+1.82
Omega ratio: Gain probability vs. loss probability	1.27	1.04	+0.24
Calmar ratio: Return relative to maximum drawdown	2.33	0.14	+2.20
Martin ratio: Return relative to average drawdown	7.53	0.34	+7.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPR vs. IFED - Sharpe Ratio Comparison

The current MLPR Sharpe Ratio is 1.59, which is higher than the IFED Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of MLPR and IFED, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MLPR	IFED	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	0.12	+1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.65	+0.29

Drawdowns

MLPR vs. IFED - Drawdown Comparison

The maximum MLPR drawdown since its inception was -48.98%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for MLPR and IFED.

Drawdown Indicators

	MLPR	IFED	Difference
Max Drawdown Largest peak-to-trough decline	-48.98%	-22.36%	-26.62%
Max Drawdown (1Y) Largest decline over 1 year	-13.97%	-14.65%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	-24.45%	-22.36%	-2.09%
Max Drawdown (5Y) Largest decline over 5 years	-28.66%	—	—
Current Drawdown Current decline from peak	-7.07%	-5.50%	-1.57%
Average Drawdown Average peak-to-trough decline	-8.94%	-5.84%	-3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	5.75%	-1.43%

Volatility

MLPR vs. IFED - Volatility Comparison

ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) has a higher volatility of 8.12% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.50%. This indicates that MLPR'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

	MLPR	IFED	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.12%	4.50%	+3.62%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	12.86%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	20.64%	16.21%	+4.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.52%	19.88%	+9.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.75%	19.88%	+13.87%

MLPR vs. IFED - Expense Ratio Comparison

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

Dividends

MLPR vs. IFED - Dividend Comparison

MLPR's dividend yield for the trailing twelve months is around 9.00%, while IFED has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
IFED ETRACS IFED Invest with the Fed TR Index ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both MLPR and IFED in my portfolio?

MLPR and IFED have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPR or IFED?

MLPR has higher volatility (8.12%) compared to IFED (4.50%). In terms of maximum drawdown, MLPR dropped -48.98% vs IFED's -22.36%.

Which ETF is better, MLPR or IFED?

On 3-year performance, MLPR leads with 32.14% vs 16.71% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPR or IFED?

Over the 3-year period, MLPR has performed better with a 32.14% return vs 16.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPR or IFED?

IFED is cheaper with a 0.45% expense ratio, compared with 0.95% for MLPR.

Which ETF pays a higher dividend yield, MLPR or IFED?

MLPR has the higher dividend yield at 9.00%, compared with 0.00% for IFED.

What is the main difference between MLPR and IFED?

MLPR tracks Alerian MLP Index (150%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. Their fees differ too: 0.95% for MLPR and 0.45% for IFED.

Which has better risk-adjusted returns?

MLPR currently has the higher Sharpe Ratio (1.59 vs 0.12), 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.