RCAX vs. IFED

Last updated Jun 6, 2026

RCAX (Defiance Daily Target 2X Long RCAT ETF) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - RCAX tracks the Red Cat Holdings, Inc. (RCAT) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. At a 0.29 correlation, their price movements are largely independent. RCAX charges 1.31%/yr vs 0.45%/yr for IFED.

Performance

RCAX vs. IFED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RCAT ETF (RCAX) 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

RCAX

• 1D: -28.03%
• 1M: 16.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IFED

• 1D: -0.97%
• 1M: 4.09%
• YTD: -3.93%
• 6M: -4.23%
• 1Y: 1.73%
• 3Y*: 16.27%
• 5Y*: —
• 10Y*: —

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

RCAX vs. IFED - Yearly Performance Comparison

	2026 (YTD)
RCAX Defiance Daily Target 2X Long RCAT ETF	-56.40%
IFED ETRACS IFED Invest with the Fed TR Index ETN	1.66%

Correlation

The correlation between RCAX and IFED is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.29

Return for Risk

RCAX vs. IFED — Risk / Return Rank

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

IFED

IFED Risk / Return Rank: 11
IFED Sharpe Ratio Rank: 11
IFED Sortino Ratio Rank: 10
IFED Omega Ratio Rank: 10
IFED Calmar Ratio Rank: 11
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.

RCAX vs. IFED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RCAT ETF (RCAX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RCAX	IFED	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.37	0.64	-1.01

Drawdowns

RCAX vs. IFED - Drawdown Comparison

The maximum RCAX drawdown since its inception was -81.30%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for RCAX and IFED.

Drawdown Indicators

	RCAX	IFED	Difference
Max Drawdown Largest peak-to-trough decline	-81.30%	-22.36%	-58.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.65%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.36%	—
Current Drawdown Current decline from peak	-63.85%	-5.89%	-57.96%
Average Drawdown Average peak-to-trough decline	-44.08%	-5.84%	-38.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.77%	—

Volatility

Volatility by Period

	RCAX	IFED	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	245.47%	16.21%	+229.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	245.47%	19.87%	+225.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	245.47%	19.87%	+225.60%

RCAX vs. IFED - Expense Ratio Comparison

RCAX has a 1.31% expense ratio, which is higher than IFED's 0.45% expense ratio.

Dividends

RCAX vs. IFED - Dividend Comparison

Neither RCAX nor IFED has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RCAX and IFED in my portfolio?

RCAX and IFED have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RCAX or IFED?

On fees, IFED is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCAX or IFED?

IFED is cheaper with a 0.45% expense ratio, compared with 1.31% for RCAX.

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

RCAX and IFED have nearly identical dividend yields, around 0.00%.

What is the main difference between RCAX and IFED?

RCAX tracks Red Cat Holdings, Inc. (RCAT), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: Defiance and UBS. Their fees differ too: 1.31% for RCAX and 0.45% for IFED.