SDOW vs. IFED
SDOW (ProShares UltraPro Short Dow30) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - SDOW tracks the Dow Jones Industrial Average (-300%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, SDOW returned -33.77%/yr vs 16.54%/yr for IFED. At a correlation of -0.78, they often move in opposite directions. SDOW charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
SDOW vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, SDOW achieves a -20.41% return, which is significantly lower than IFED's -3.07% return.
SDOW
- 1D
- 0.32%
- 1M
- -6.58%
- YTD
- -20.41%
- 6M
- -18.40%
- 1Y
- -43.24%
- 3Y*
- -33.77%
- 5Y*
- -25.99%
- 10Y*
- -38.66%
IFED
- 1D
- -0.05%
- 1M
- 2.47%
- YTD
- -3.07%
- 6M
- -3.90%
- 1Y
- 2.52%
- 3Y*
- 16.54%
- 5Y*
- —
- 10Y*
- —
SDOW vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SDOW ProShares UltraPro Short Dow30 | -20.41% | -33.94% | -25.95% | -28.78% | 4.00% | -18.03% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.07% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between SDOW and IFED is -0.65, 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 | -0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.71 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.78 |
The correlation between SDOW and IFED shifts across timeframes, from -0.78 (all time) to -0.65 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SDOW vs. IFED — Risk / Return Rank
SDOW
IFED
SDOW vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Dow30 (SDOW) 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.
| SDOW | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.04 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 0.17 | -1.19 |
| Martin ratioReturn relative to average drawdown | -1.70 | 0.43 | -2.13 |
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Drawdowns
SDOW vs. IFED - Drawdown Comparison
The maximum SDOW drawdown since its inception was -99.96%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for SDOW and IFED.
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Drawdown Indicators
| SDOW | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -22.36% | -77.60% |
Max Drawdown (1Y)Largest decline over 1 year | -42.83% | -14.65% | -28.18% |
Max Drawdown (3Y)Largest decline over 3 years | -75.55% | -22.36% | -53.19% |
Max Drawdown (5Y)Largest decline over 5 years | -83.15% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.29% | — | — |
Current DrawdownCurrent decline from peak | -99.96% | -5.05% | -94.91% |
Average DrawdownAverage peak-to-trough decline | -89.59% | -5.83% | -83.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.36% | 5.88% | +21.48% |
Volatility
SDOW vs. IFED - Volatility Comparison
ProShares UltraPro Short Dow30 (SDOW) has a higher volatility of 12.39% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 6.74%. This indicates that SDOW'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.
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Volatility by Period
| SDOW | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.39% | 6.74% | +5.65% |
Volatility (6M)Calculated over the trailing 6-month period | 29.43% | 13.81% | +15.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.16% | 16.84% | +20.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.43% | 19.92% | +24.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.13% | 19.92% | +32.21% |
SDOW vs. IFED - Expense Ratio Comparison
SDOW has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
SDOW vs. IFED - Dividend Comparison
SDOW's dividend yield for the trailing twelve months is around 5.85%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SDOW ProShares UltraPro Short Dow30 | 5.85% | 5.80% | 8.30% | 5.38% | 0.36% | 0.00% | 0.52% | 2.17% | 1.23% | 0.09% |
Frequently Asked Questions
SDOW and IFED have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDOW has higher volatility (12.39%) compared to IFED (6.74%). In terms of maximum drawdown, SDOW dropped -99.96% vs IFED's -22.36%.
On 3-year performance, IFED leads with 16.54% vs -33.77% for SDOW. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 6.74%. 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 16.54% return vs -33.77%. 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 SDOW.
SDOW has the higher dividend yield at 5.85%, compared with 0.00% for IFED.
SDOW tracks Dow Jones Industrial Average (-300%), 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 SDOW and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.15 vs -1.17), 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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