QQLV vs. HDLB
QQLV (Invesco QQQ Low Volatility ETF) and HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) are both exchange-traded funds - QQLV is a Low Volatility fund tracking the Nasdaq Low Volatility Index, while HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%). Both are passively managed. Over the past year, QQLV returned 3.51% vs 26.69% for HDLB. Their 0.67 correlation means they have sometimes moved together and sometimes differently. QQLV charges 0.25%/yr vs 1.65%/yr for HDLB.
Performance
QQLV vs. HDLB - Performance Comparison
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Returns By Period
In the year-to-date period, QQLV achieves a 7.25% return, which is significantly lower than HDLB's 25.12% return.
QQLV
- 1D
- -0.53%
- 1M
- 1.40%
- 6M
- 5.54%
- YTD
- 7.25%
- 1Y
- 3.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.28%
HDLB
- 1D
- -0.60%
- 1M
- 6.28%
- 6M
- 12.18%
- YTD
- 25.12%
- 1Y
- 26.69%
- 3Y*
- 29.45%
- 5Y*
- 14.37%
- 10Y*
- —
- ALL TIME*
- 6.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $77.42K | $57.41K | $57.55K | |
| $52.35K | $30.06K | $34.79K |
QQLV vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQLV Invesco QQQ Low Volatility ETF | 7.25% | 4.19% | -5.60% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 25.12% | 27.26% | -12.24% |
Correlation
The correlation between QQLV and HDLB is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024 | 0.67 |
The correlation between QQLV and HDLB has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.
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Return for Risk
QQLV vs. HDLB — Risk / Return Rank
QQLV
HDLB
QQLV vs. HDLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Low Volatility ETF (QQLV) 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.
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.
| QQLV | HDLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.18 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 1.74 | -1.31 |
| Martin ratioReturn relative to average drawdown | 0.84 | 3.74 | -2.90 |
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Drawdowns
QQLV vs. HDLB - Drawdown Comparison
The maximum QQLV drawdown since its inception was -9.54%, smaller than the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for QQLV and HDLB.
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Drawdown Indicators
| QQLV | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -78.70% | +69.16% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -16.17% | +8.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.94% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.81% | — |
Current DrawdownCurrent decline from peak | -2.09% | -5.63% | +3.54% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -27.01% | +23.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 7.51% | -3.84% |
Volatility
QQLV vs. HDLB - Volatility Comparison
The current volatility for Invesco QQQ Low Volatility ETF (QQLV) is 5.31%, while ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) has a volatility of 11.39%. This indicates that QQLV experiences smaller price fluctuations and is considered to be less risky than HDLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQLV | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 11.39% | -6.08% |
Volatility (6M)Calculated over the trailing 6-month period | 9.02% | 22.35% | -13.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.17% | 28.72% | -17.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.06% | 31.06% | -18.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.06% | 43.43% | -30.37% |
QQLV vs. HDLB - Expense Ratio Comparison
QQLV has a 0.25% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Dividends
QQLV vs. HDLB - Dividend Comparison
QQLV's dividend yield for the trailing twelve months is around 2.02%, less than HDLB's 10.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 10.19% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
QQLV Invesco QQQ Low Volatility ETF | 2.02% | 1.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQLV and HDLB have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDLB has higher volatility (11.39%) compared to QQLV (5.31%). In terms of maximum drawdown, QQLV dropped -9.54% vs HDLB's -78.70%.
On 1-year performance, HDLB leads with 26.69% vs 3.51% for QQLV. On fees, QQLV is cheaper at 0.25% per year. On volatility, QQLV has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HDLB has performed better with a 26.69% return vs 3.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQLV is cheaper with a 0.25% expense ratio, compared with 1.65% for HDLB.
HDLB has the higher dividend yield at 10.19%, compared with 2.02% for QQLV.
QQLV is categorized as Low Volatility, while HDLB is Leveraged Equities. QQLV tracks Nasdaq Low Volatility Index, while HDLB tracks Solactive US High Dividend Low Volatility (USD)(TR) (200%). They also come from different issuers: Invesco and UBS. Their fees differ too: 0.25% for QQLV and 1.65% for HDLB.
HDLB currently has the higher Sharpe Ratio (0.98 vs 0.28), 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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