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 -28.25%/yr vs 15.08%/yr for IFED. At a correlation of -0.75, 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 -28.55% return, which is significantly lower than IFED's -3.41% return.
SIJ
- 1D
- -1.30%
- 1M
- -6.93%
- 6M
- -21.99%
- YTD
- -28.55%
- 1Y
- -32.13%
- 3Y*
- -28.25%
- 5Y*
- -19.80%
- 10Y*
- -27.81%
IFED
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- -3.84%
- YTD
- -3.41%
- 1Y
- 0.90%
- 3Y*
- 15.08%
- 5Y*
- —
- 10Y*
- —
SIJ vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -28.55% | -29.33% | -21.63% | -24.18% | 18.15% | -8.52% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.41% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between SIJ and IFED is -0.42, 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 | -0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.75 |
Over the past year, the inverse relationship between SIJ and IFED has weakened: their correlation has moved from -0.75 to -0.42, 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.
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.
| SIJ | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.01 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.04 | -0.81 |
| Martin ratioReturn relative to average drawdown | -1.64 | -0.09 | -1.55 |
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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 | -37.53% | -14.65% | -22.88% |
Max Drawdown (3Y)Largest decline over 3 years | -72.61% | -22.36% | -50.25% |
Max Drawdown (5Y)Largest decline over 5 years | -78.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -96.42% | — | — |
Current DrawdownCurrent decline from peak | -99.93% | -5.39% | -94.54% |
Average DrawdownAverage peak-to-trough decline | -86.79% | -5.83% | -80.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.35% | 6.00% | +13.35% |
Volatility
SIJ vs. IFED - Volatility Comparison
ProShares UltraShort Industrials (SIJ) has a higher volatility of 13.89% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 8.34%. 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 | 13.89% | 8.34% | +5.55% |
Volatility (6M)Calculated over the trailing 6-month period | 28.40% | 15.10% | +13.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.95% | 17.83% | +16.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.22% | 20.03% | +16.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.65% | 20.03% | +19.62% |
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 4.93%, 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 | 4.93% | 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 -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIJ has higher volatility (13.89%) compared to IFED (8.34%). In terms of maximum drawdown, SIJ dropped -99.93% vs IFED's -22.36%.
On 3-year performance, IFED leads with 15.08% vs -28.25% for SIJ. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 8.34%. 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 15.08% return vs -28.25%. 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 4.93%, 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 (-0.03 vs -0.94), 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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