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 -24.34%/yr vs 16.71%/yr for IFED. At a correlation of -0.77, 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 15.68% return, which is significantly higher than IFED's -3.52% return.
SKF
- 1D
- 2.34%
- 1M
- 3.32%
- YTD
- 15.68%
- 6M
- 10.42%
- 1Y
- 2.16%
- 3Y*
- -24.34%
- 5Y*
- -15.11%
- 10Y*
- -25.91%
IFED
- 1D
- -1.24%
- 1M
- 4.85%
- YTD
- -3.52%
- 6M
- -3.51%
- 1Y
- 1.97%
- 3Y*
- 16.71%
- 5Y*
- —
- 10Y*
- —
SKF vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKF ProShares UltraShort Financials | 15.68% | -23.99% | -36.29% | -21.78% | 17.63% | -12.21% |
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 SKF and IFED is -0.60, 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 | -0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | -0.77 |
The correlation between SKF and IFED shifts across timeframes, from -0.77 (all time) to -0.60 (1 year), reflecting how their relationship changes across market environments.
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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.
| SKF | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.04 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 0.14 | -0.03 |
| Martin ratioReturn relative to average drawdown | 0.19 | 0.34 | -0.15 |
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
| SKF | IFED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | 0.12 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.64 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.51 | 0.65 | -1.15 |
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 | -20.76% | -14.65% | -6.11% |
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% | -5.50% | -94.45% |
Average DrawdownAverage peak-to-trough decline | -89.26% | -5.84% | -83.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.13% | 5.75% | +5.38% |
Volatility
SKF vs. IFED - Volatility Comparison
ProShares UltraShort Financials (SKF) has a higher volatility of 6.29% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.50%. 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 | 6.29% | 4.50% | +1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 21.80% | 12.86% | +8.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.85% | 16.21% | +12.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.03% | 19.88% | +16.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.90% | 19.88% | +21.02% |
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 4.09%, 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 | 4.09% | 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 -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKF has higher volatility (6.29%) compared to IFED (4.50%). In terms of maximum drawdown, SKF dropped -99.96% vs IFED's -22.36%.
On 3-year performance, IFED leads with 16.71% vs -24.34% for SKF. 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 -24.34%. 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 4.09%, 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 (0.12 vs 0.08), 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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