SDP vs. IFED
SDP (ProShares UltraShort Utilities) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - SDP tracks the Dow Jones U.S. Utilities Index (-200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, SDP returned -21.20%/yr vs 18.28%/yr for IFED. Their -0.29 correlation means they have often moved in opposite directions in the past. SDP charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
SDP vs. IFED - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SDP achieves a -9.06% return, which is significantly lower than IFED's 6.57% return.
SDP
- 1D
- 0.11%
- 1M
- 6.41%
- 6M
- -9.83%
- YTD
- -9.06%
- 1Y
- -8.08%
- 3Y*
- -21.20%
- 5Y*
- -15.97%
- 10Y*
- -20.62%
- ALL TIME*
- -21.26%
IFED
- 1D
- -3.14%
- 1M
- 10.34%
- 6M
- 10.05%
- YTD
- 6.57%
- 1Y
- 11.16%
- 3Y*
- 18.28%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $137.39K | $84.48K | $45.67K | |
| $191.10K | $103.59K | $83.62K |
SDP vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -9.06% | -22.59% | -30.11% | 18.95% | -12.54% | -14.91% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 6.57% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between SDP and IFED is -0.01, 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. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.29 |
Over the past year, the inverse relationship between SDP and IFED has weakened: their correlation has moved from -0.29 to -0.01, meaning they move in opposite directions less often than they have historically.
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
SDP vs. IFED — Risk / Return Rank
SDP
IFED
SDP vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) 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.
| SDP | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.13 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 0.56 | -0.87 |
| Martin ratioReturn relative to average drawdown | -0.52 | 1.73 | -2.25 |
Loading charts...
Drawdowns
SDP vs. IFED - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for SDP and IFED.
Loading charts...
Drawdown Indicators
| SDP | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -22.36% | -77.20% |
Max Drawdown (1Y)Largest decline over 1 year | -25.44% | -20.18% | -5.26% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -22.36% | -43.81% |
Max Drawdown (5Y)Largest decline over 5 years | -66.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | — | — |
Current DrawdownCurrent decline from peak | -99.50% | -10.51% | -88.99% |
Average DrawdownAverage peak-to-trough decline | -82.25% | -5.85% | -76.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.48% | 6.47% | +9.01% |
Volatility
SDP vs. IFED - Volatility Comparison
The current volatility for ProShares UltraShort Utilities (SDP) is 8.39%, while ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a volatility of 24.37%. This indicates that SDP experiences smaller price fluctuations and is considered to be less risky than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SDP | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.39% | 24.37% | -15.98% |
Volatility (6M)Calculated over the trailing 6-month period | 24.16% | 28.13% | -3.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.20% | 29.53% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.44% | 22.60% | +11.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.64% | 22.60% | +15.04% |
SDP vs. IFED - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
SDP vs. IFED - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.08%, 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% |
SDP ProShares UltraShort Utilities | 4.08% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% |
Frequently Asked Questions
SDP and IFED have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (24.37%) compared to SDP (8.39%). In terms of maximum drawdown, SDP dropped -99.56% vs IFED's -22.36%.
On 3-year performance, IFED leads with 18.28% vs -21.20% for SDP. On fees, IFED is cheaper at 0.45% per year. On volatility, SDP has been the lower-risk option at 8.39%. 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 18.28% return vs -21.20%. 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 SDP.
SDP has the higher dividend yield at 4.08%, compared with 0.00% for IFED.
SDP tracks Dow Jones U.S. Utilities 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 SDP and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.38 vs -0.27), 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 SDP 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