SIJ vs. IFED
SIJ (ProShares UltraShort Industrials) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - SIJ tracks the DJ Global United States (All) / Industrials -IND (-200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, SIJ returned -29.54%/yr vs 16.71%/yr for IFED. At a correlation of -0.76, they often move in opposite directions. SIJ charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
SIJ vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -21.28% return, which is significantly lower than IFED's -3.52% return.
SIJ
- 1D
- -0.08%
- 1M
- -3.55%
- YTD
- -21.28%
- 6M
- -22.55%
- 1Y
- -31.23%
- 3Y*
- -29.54%
- 5Y*
- -18.51%
- 10Y*
- -27.77%
IFED
- 1D
- -1.24%
- 1M
- 4.85%
- YTD
- -3.52%
- 6M
- -3.51%
- 1Y
- 1.97%
- 3Y*
- 16.71%
- 5Y*
- —
- 10Y*
- —
SIJ vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -21.28% | -29.33% | -21.63% | -24.18% | 18.15% | -6.82% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.52% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between SIJ and IFED is -0.45, 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 | -0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | -0.76 |
Over the past year, the inverse relationship between SIJ and IFED has weakened: their correlation has moved from -0.76 to -0.45, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SIJ vs. IFED — Risk / Return Rank
SIJ
IFED
SIJ vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.
| SIJ | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.04 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 0.14 | -1.02 |
| Martin ratioReturn relative to average drawdown | -1.50 | 0.34 | -1.85 |
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
| SIJ | IFED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 0.12 | -1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.52 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | 0.65 | -1.27 |
Drawdowns
SIJ vs. IFED - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for SIJ and IFED.
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Drawdown Indicators
| SIJ | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -22.36% | -77.57% |
Max Drawdown (1Y)Largest decline over 1 year | -35.40% | -14.65% | -20.75% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -22.36% | -47.48% |
Max Drawdown (5Y)Largest decline over 5 years | -76.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -96.54% | — | — |
Current DrawdownCurrent decline from peak | -99.92% | -5.50% | -94.42% |
Average DrawdownAverage peak-to-trough decline | -86.74% | -5.84% | -80.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.81% | 5.75% | +15.06% |
Volatility
SIJ vs. IFED - Volatility Comparison
ProShares UltraShort Industrials (SIJ) has a higher volatility of 10.18% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.50%. This indicates that SIJ'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
| SIJ | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 4.50% | +5.68% |
Volatility (6M)Calculated over the trailing 6-month period | 26.39% | 12.86% | +13.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.52% | 16.21% | +15.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 19.88% | +15.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.62% | 19.88% | +19.74% |
SIJ vs. IFED - Expense Ratio Comparison
SIJ has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
SIJ vs. IFED - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 5.75%, 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% |
SIJ ProShares UltraShort Industrials | 5.75% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% |
Frequently Asked Questions
SIJ and IFED have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIJ has higher volatility (10.18%) compared to IFED (4.50%). In terms of maximum drawdown, SIJ dropped -99.93% vs IFED's -22.36%.
On 3-year performance, IFED leads with 16.71% vs -29.54% for SIJ. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 4.50%. 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 16.71% return vs -29.54%. 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 SIJ.
SIJ has the higher dividend yield at 5.75%, compared with 0.00% for IFED.
SIJ tracks DJ Global United States (All) / Industrials -IND (-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 SIJ and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.12 vs -1.00), 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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