SKF vs. IFED
SKF (ProShares UltraShort Financials) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - SKF tracks the DJ Global United States (All) / Financials -IND (-200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, SKF returned -27.28%/yr vs 16.54%/yr for IFED. At a correlation of -0.76, they often move in opposite directions. SKF charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
SKF vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, SKF achieves a 2.60% return, which is significantly higher than IFED's -3.07% return.
SKF
- 1D
- -0.73%
- 1M
- -7.49%
- YTD
- 2.60%
- 6M
- 5.47%
- 1Y
- -10.08%
- 3Y*
- -27.28%
- 5Y*
- -17.96%
- 10Y*
- -27.50%
IFED
- 1D
- -0.05%
- 1M
- 2.47%
- YTD
- -3.07%
- 6M
- -3.90%
- 1Y
- 2.52%
- 3Y*
- 16.54%
- 5Y*
- —
- 10Y*
- —
SKF vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKF ProShares UltraShort Financials | 2.60% | -23.99% | -36.29% | -21.78% | 17.63% | -13.49% |
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 SKF and IFED is -0.56, 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 | -0.56 |
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 | -0.76 |
Over the past year, the inverse relationship between SKF and IFED has weakened: their correlation has moved from -0.76 to -0.56, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SKF vs. IFED — Risk / Return Rank
SKF
IFED
SKF vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Financials (SKF) 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.
| SKF | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.04 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 0.17 | -0.63 |
| Martin ratioReturn relative to average drawdown | -1.05 | 0.43 | -1.48 |
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Drawdowns
SKF vs. IFED - Drawdown Comparison
The maximum SKF 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 SKF and IFED.
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Drawdown Indicators
| SKF | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -22.36% | -77.60% |
Max Drawdown (1Y)Largest decline over 1 year | -22.02% | -14.65% | -7.37% |
Max Drawdown (3Y)Largest decline over 3 years | -68.09% | -22.36% | -45.73% |
Max Drawdown (5Y)Largest decline over 5 years | -72.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -96.51% | — | — |
Current DrawdownCurrent decline from peak | -99.95% | -5.05% | -94.90% |
Average DrawdownAverage peak-to-trough decline | -89.27% | -5.83% | -83.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.95% | 5.88% | +4.07% |
Volatility
SKF vs. IFED - Volatility Comparison
ProShares UltraShort Financials (SKF) has a higher volatility of 8.32% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 6.74%. This indicates that SKF'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
| SKF | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.32% | 6.74% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 22.47% | 13.81% | +8.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.21% | 16.84% | +12.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.04% | 19.92% | +16.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.82% | 19.92% | +20.90% |
SKF vs. IFED - Expense Ratio Comparison
SKF has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
SKF vs. IFED - Dividend Comparison
SKF's dividend yield for the trailing twelve months is around 4.61%, 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% |
SKF ProShares UltraShort Financials | 4.61% | 5.61% | 7.94% | 3.93% | 0.03% | 0.00% | 0.11% | 1.29% | 0.06% |
Frequently Asked Questions
SKF and IFED have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKF has higher volatility (8.32%) compared to IFED (6.74%). In terms of maximum drawdown, SKF dropped -99.96% vs IFED's -22.36%.
On 3-year performance, IFED leads with 16.54% vs -27.28% for SKF. 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 -27.28%. 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 SKF.
SKF has the higher dividend yield at 4.61%, compared with 0.00% for IFED.
SKF tracks DJ Global United States (All) / Financials -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 SKF and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.15 vs -0.35), 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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