SCDL vs. MTUL
SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) are both exchange-traded funds - SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%), while MTUL is a Momentum fund tracking the MSCI USA Momentum Index. Both are passively managed. Over the past 5 years, SCDL returned 11.80%/yr vs 15.37%/yr for MTUL. Their 0.50 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
SCDL vs. MTUL - Performance Comparison
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Returns By Period
In the year-to-date period, SCDL achieves a 47.89% return, which is significantly higher than MTUL's 39.46% return.
SCDL
- 1D
- 0.40%
- 1M
- 6.94%
- 6M
- 24.76%
- YTD
- 47.89%
- 1Y
- 62.63%
- 3Y*
- 22.41%
- 5Y*
- 11.80%
- 10Y*
- —
- ALL TIME*
- 16.43%
MTUL
- 1D
- 1.04%
- 1M
- -12.41%
- 6M
- 34.68%
- YTD
- 39.46%
- 1Y
- 51.48%
- 3Y*
- 48.16%
- 5Y*
- 15.37%
- 10Y*
- —
- ALL TIME*
- 14.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $205.26K | $149.84K | $116.28K | |
| $13.83K | $30.61K | $22.30K |
SCDL vs. MTUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 47.89% | 2.05% | 14.99% | 0.18% | -13.06% | 52.47% |
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 39.46% | 27.42% | 58.70% | 10.66% | -37.97% | 8.34% |
Correlation
The correlation between SCDL and MTUL is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.50 |
Over the past year, the correlation between SCDL and MTUL has dropped to 0.08 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
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Return for Risk
SCDL vs. MTUL — Risk / Return Rank
SCDL
MTUL
SCDL vs. MTUL - 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 ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL). 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.
| SCDL | MTUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.98 | ||
| Sortino ratioReturn per unit of downside risk | +2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.20 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 6.18 | 1.60 | +4.58 |
| Martin ratioReturn relative to average drawdown | 15.87 | 6.52 | +9.34 |
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Drawdowns
SCDL vs. MTUL - Drawdown Comparison
The maximum SCDL drawdown since its inception was -34.87%, smaller than the maximum MTUL drawdown of -56.83%. Use the drawdown chart below to compare losses from any high point for SCDL and MTUL.
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Drawdown Indicators
| SCDL | MTUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.87% | -56.83% | +21.96% |
Max Drawdown (1Y)Largest decline over 1 year | -10.19% | -32.27% | +22.08% |
Max Drawdown (3Y)Largest decline over 3 years | -32.79% | -39.15% | +6.36% |
Max Drawdown (5Y)Largest decline over 5 years | -34.87% | -56.83% | +21.96% |
Current DrawdownCurrent decline from peak | -2.03% | -21.93% | +19.90% |
Average DrawdownAverage peak-to-trough decline | -11.67% | -22.29% | +10.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 7.91% | -3.95% |
Volatility
SCDL vs. MTUL - Volatility Comparison
The current volatility for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) is 7.76%, while ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a volatility of 26.68%. This indicates that SCDL experiences smaller price fluctuations and is considered to be less risky than MTUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCDL | MTUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.76% | 26.68% | -18.92% |
Volatility (6M)Calculated over the trailing 6-month period | 15.48% | 49.98% | -34.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.75% | 56.35% | -34.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.02% | 45.41% | -16.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.75% | 45.64% | -16.89% |
SCDL vs. MTUL - Expense Ratio Comparison
Both SCDL and MTUL have an expense ratio of 0.95%.
Dividends
SCDL vs. MTUL - Dividend Comparison
Neither SCDL nor MTUL has paid dividends to shareholders.
Frequently Asked Questions
SCDL and MTUL have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUL has higher volatility (26.68%) compared to SCDL (7.76%). In terms of maximum drawdown, SCDL dropped -34.87% vs MTUL's -56.83%.
On 5-year performance, MTUL leads with 15.37% vs 11.80% for SCDL. Both ETFs have the same 0.95% expense ratio. On volatility, SCDL has been the lower-risk option at 7.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MTUL has performed better with a 15.37% return vs 11.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCDL and MTUL have the same expense ratio: 0.95% per year.
SCDL and MTUL have nearly identical dividend yields, around 0.00%.
SCDL is categorized as Leveraged Equities, while MTUL is Momentum. SCDL tracks Dow Jones U.S. Dividend 100 (200%), while MTUL tracks MSCI USA Momentum Index.
SCDL currently has the higher Sharpe Ratio (2.90 vs 0.92), 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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