REW vs. IFED
REW (ProShares UltraShort Technology) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - REW tracks the Dow Jones U.S. Technology Index (-200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, REW returned -45.39%/yr vs 17.39%/yr for IFED. At a correlation of -0.70, they often move in opposite directions. REW charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
REW vs. IFED - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, REW achieves a -43.64% return, which is significantly lower than IFED's -0.67% return.
REW
- 1D
- -2.01%
- 1M
- -2.83%
- YTD
- -43.64%
- 6M
- -41.62%
- 1Y
- -57.85%
- 3Y*
- -45.39%
- 5Y*
- -37.94%
- 10Y*
- -45.33%
IFED
- 1D
- 4.16%
- 1M
- 5.15%
- YTD
- -0.67%
- 6M
- -1.84%
- 1Y
- 4.90%
- 3Y*
- 17.39%
- 5Y*
- —
- 10Y*
- —
REW vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | -43.64% | -43.15% | -33.70% | -61.35% | 65.72% | -18.36% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -0.67% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between REW and IFED is -0.52, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.70 |
The correlation between REW and IFED shifts across timeframes, from -0.70 (all time) to -0.52 (1 year), 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
REW vs. IFED — Risk / Return Rank
REW
IFED
REW vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Technology (REW) 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.
| REW | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.07 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 0.34 | -1.27 |
| Martin ratioReturn relative to average drawdown | -2.00 | 0.83 | -2.83 |
Loading charts...
Drawdowns
REW vs. IFED - Drawdown Comparison
The maximum REW drawdown since its inception was -99.99%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for REW and IFED.
Loading charts...
Drawdown Indicators
| REW | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -22.36% | -77.63% |
Max Drawdown (1Y)Largest decline over 1 year | -61.83% | -14.65% | -47.18% |
Max Drawdown (3Y)Largest decline over 3 years | -86.76% | -22.36% | -64.40% |
Max Drawdown (5Y)Largest decline over 5 years | -93.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.78% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -2.71% | -97.28% |
Average DrawdownAverage peak-to-trough decline | -86.90% | -5.83% | -81.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.52% | 5.90% | +23.62% |
Volatility
REW vs. IFED - Volatility Comparison
ProShares UltraShort Technology (REW) has a higher volatility of 24.33% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 7.96%. This indicates that REW'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.
Loading charts...
Volatility by Period
| REW | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.33% | 7.96% | +16.37% |
Volatility (6M)Calculated over the trailing 6-month period | 39.77% | 14.49% | +25.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.39% | 17.38% | +30.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.56% | 20.00% | +32.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.29% | 20.00% | +29.29% |
REW vs. IFED - Expense Ratio Comparison
REW has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
REW vs. IFED - Dividend Comparison
REW's dividend yield for the trailing twelve months is around 8.84%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
REW ProShares UltraShort Technology | 8.84% | 6.69% | 5.68% | 5.97% | 0.65% | 0.00% | 0.27% | 1.80% | 0.51% |
Frequently Asked Questions
REW and IFED have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REW has higher volatility (24.33%) compared to IFED (7.96%). In terms of maximum drawdown, REW dropped -99.99% vs IFED's -22.36%.
On 3-year performance, IFED leads with 17.39% vs -45.39% for REW. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 7.96%. 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 17.39% return vs -45.39%. 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 REW.
REW has the higher dividend yield at 8.84%, compared with 0.00% for IFED.
REW tracks Dow Jones U.S. Technology Index (-200%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for REW and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.28 vs -1.22), 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 REW and IFED
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