SCDL vs. CDL
SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and CDL (VictoryShares US Large Cap High Dividend Volatility Wtd ETF) are both exchange-traded funds - SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%), while CDL is a Large Cap Value Equities fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index. Both are passively managed. Over the past 5 years, SCDL returned 9.40%/yr vs 8.68%/yr for CDL. Their correlation of 0.91 suggests significant overlap in exposure. SCDL charges 0.95%/yr vs 0.35%/yr for CDL.
Performance
SCDL vs. CDL - Performance Comparison
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Returns By Period
In the year-to-date period, SCDL achieves a 37.06% return, which is significantly higher than CDL's 10.43% return.
SCDL
- 1D
- 0.51%
- 1M
- 5.01%
- YTD
- 37.06%
- 6M
- 35.80%
- 1Y
- 50.97%
- 3Y*
- 22.79%
- 5Y*
- 9.40%
- 10Y*
- —
CDL
- 1D
- -0.61%
- 1M
- -0.38%
- YTD
- 10.43%
- 6M
- 10.31%
- 1Y
- 18.04%
- 3Y*
- 14.68%
- 5Y*
- 8.68%
- 10Y*
- 10.83%
SCDL vs. CDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 37.06% | 2.05% | 14.99% | 0.18% | -13.06% | 52.47% |
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 10.43% | 9.04% | 15.58% | 3.03% | -0.45% | 27.73% |
Correlation
The correlation between SCDL and CDL is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021 | 0.91 |
The correlation between SCDL and CDL has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
SCDL vs. CDL — Risk / Return Rank
SCDL
CDL
SCDL vs. CDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL). 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.
| SCDL | CDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.32 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 5.03 | 3.20 | +1.83 |
| Martin ratioReturn relative to average drawdown | 12.65 | 11.35 | +1.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SCDL | CDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 1.86 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.63 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.65 | -0.11 |
Drawdowns
SCDL vs. CDL - Drawdown Comparison
The maximum SCDL drawdown since its inception was -34.87%, smaller than the maximum CDL drawdown of -41.03%. Use the drawdown chart below to compare losses from any high point for SCDL and CDL.
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Drawdown Indicators
| SCDL | CDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.87% | -41.03% | +6.16% |
Max Drawdown (1Y)Largest decline over 1 year | -10.19% | -5.66% | -4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -32.79% | -12.87% | -19.92% |
Max Drawdown (5Y)Largest decline over 5 years | -34.87% | -17.28% | -17.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.03% | — |
Current DrawdownCurrent decline from peak | -2.79% | -2.19% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -11.96% | -4.35% | -7.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 1.59% | +2.45% |
Volatility
SCDL vs. CDL - Volatility Comparison
ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a higher volatility of 5.20% compared to VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) at 2.66%. This indicates that SCDL's price experiences larger fluctuations and is considered to be riskier than CDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCDL | CDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 2.66% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 14.82% | 6.86% | +7.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.66% | 9.75% | +11.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.02% | 13.85% | +15.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.89% | 17.04% | +11.85% |
SCDL vs. CDL - Expense Ratio Comparison
SCDL has a 0.95% expense ratio, which is higher than CDL's 0.35% expense ratio.
Dividends
SCDL vs. CDL - Dividend Comparison
SCDL has not paid dividends to shareholders, while CDL's dividend yield for the trailing twelve months is around 3.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 3.17% | 3.33% | 3.27% | 3.61% | 3.31% | 2.60% | 3.32% | 3.04% | 3.32% | 2.87% | 2.97% | 1.28% |
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCDL and CDL have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCDL has higher volatility (5.20%) compared to CDL (2.66%). In terms of maximum drawdown, SCDL dropped -34.87% vs CDL's -41.03%.
On 5-year performance, SCDL leads with 9.40% vs 8.68% for CDL. On fees, CDL is cheaper at 0.35% per year. On volatility, CDL has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCDL has performed better with a 9.40% return vs 8.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDL is cheaper with a 0.35% expense ratio, compared with 0.95% for SCDL.
CDL has the higher dividend yield at 3.17%, compared with 0.00% for SCDL.
SCDL is categorized as Leveraged Equities, while CDL is Large Cap Value Equities. SCDL tracks Dow Jones U.S. Dividend 100 (200%), while CDL tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index. They also come from different issuers: UBS and Crestview. Their fees differ too: 0.95% for SCDL and 0.35% for CDL.
SCDL currently has the higher Sharpe Ratio (2.37 vs 1.86), 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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