MVRL vs. IFED
MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both exchange-traded funds - MVRL is a REIT fund tracking the MVIS US Mortgage REITs Index (150%), while IFED is a Leveraged Equities fund tracking the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, MVRL returned 6.00%/yr vs 14.90%/yr for IFED. A 0.56 correlation means they provide meaningful diversification when combined. MVRL charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
MVRL vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, MVRL achieves a 4.73% return, which is significantly higher than IFED's -3.70% return.
MVRL
- 1D
- 4.89%
- 1M
- 7.48%
- 6M
- 0.43%
- YTD
- 4.73%
- 1Y
- 13.16%
- 3Y*
- 6.00%
- 5Y*
- -5.74%
- 10Y*
- —
IFED
- 1D
- 0.00%
- 1M
- -0.71%
- 6M
- -4.12%
- YTD
- -3.70%
- 1Y
- -0.46%
- 3Y*
- 14.90%
- 5Y*
- —
- 10Y*
- —
MVRL vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 4.73% | 14.96% | -3.45% | 12.30% | -42.41% | -1.75% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.70% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between MVRL and IFED is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.56 |
Over the past year, the correlation between MVRL and IFED has dropped to 0.31 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
MVRL vs. IFED — Risk / Return Rank
MVRL
IFED
MVRL vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) 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.
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.
| MVRL | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.01 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | -0.03 | +0.66 |
| Martin ratioReturn relative to average drawdown | 1.56 | -0.08 | +1.64 |
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Drawdowns
MVRL vs. IFED - Drawdown Comparison
The maximum MVRL drawdown since its inception was -60.25%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for MVRL and IFED.
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Drawdown Indicators
| MVRL | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.25% | -22.36% | -37.89% |
Max Drawdown (1Y)Largest decline over 1 year | -20.93% | -14.65% | -6.28% |
Max Drawdown (3Y)Largest decline over 3 years | -32.20% | -22.36% | -9.84% |
Max Drawdown (5Y)Largest decline over 5 years | -59.63% | — | — |
Current DrawdownCurrent decline from peak | -33.63% | -5.67% | -27.96% |
Average DrawdownAverage peak-to-trough decline | -31.88% | -5.83% | -26.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.43% | 6.02% | +2.41% |
Volatility
MVRL vs. IFED - Volatility Comparison
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a higher volatility of 7.99% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 7.00%. This indicates that MVRL'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.
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Volatility by Period
| MVRL | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.99% | 7.00% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 20.98% | 15.09% | +5.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.98% | 17.76% | +10.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.50% | 20.01% | +16.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.53% | 20.01% | +17.52% |
MVRL vs. IFED - Expense Ratio Comparison
MVRL has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
MVRL vs. IFED - Dividend Comparison
MVRL's dividend yield for the trailing twelve months is around 19.49%, 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% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 19.49% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% |
Frequently Asked Questions
MVRL and IFED have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MVRL has higher volatility (7.99%) compared to IFED (7.00%). In terms of maximum drawdown, MVRL dropped -60.25% vs IFED's -22.36%.
On 3-year performance, IFED leads with 14.90% vs 6.00% for MVRL. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 7.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 14.90% return vs 6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.95% for MVRL.
MVRL has the higher dividend yield at 19.49%, compared with 0.00% for IFED.
MVRL is categorized as REIT, while IFED is Leveraged Equities. MVRL tracks MVIS US Mortgage REITs Index (150%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. Their fees differ too: 0.95% for MVRL and 0.45% for IFED.
MVRL currently has the higher Sharpe Ratio (0.47 vs -0.03), 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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