SMHB vs. AMTR
SMHB (ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B) and AMTR (ETRACS Alerian Midstream Energy Total Return Index ETN) are both exchange-traded funds - SMHB is a Leveraged Equities fund tracking the Solactive US Small Cap High Dividend Index (200%), while AMTR is a MLPs fund tracking the Alerian Midstream Energy Index. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. SMHB charges 0.85%/yr vs 0.75%/yr for AMTR.
Performance
SMHB vs. AMTR - Performance Comparison
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Returns By Period
SMHB
- 1D
- -1.45%
- 1M
- -1.99%
- YTD
- 5.72%
- 6M
- 0.84%
- 1Y
- 11.36%
- 3Y*
- 9.31%
- 5Y*
- -6.36%
- 10Y*
- —
AMTR
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMHB vs. AMTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B | 5.72% | -7.75% | -15.85% | 35.96% | -36.03% | 68.86% | 55.16% |
AMTR ETRACS Alerian Midstream Energy Total Return Index ETN | 0.00% | 0.00% | 44.68% | 12.75% | 20.41% | 36.99% | 15.24% |
Correlation
The correlation between SMHB and AMTR is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020 | 0.49 |
The correlation between SMHB and AMTR shifts across timeframes, from 0.27 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMHB vs. AMTR — Risk / Return Rank
SMHB
AMTR
SMHB vs. AMTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) and ETRACS Alerian Midstream Energy Total Return Index ETN (AMTR). 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.
| SMHB | AMTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.08 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | — | — |
| Martin ratioReturn relative to average drawdown | 1.10 | — | — |
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
| SMHB | AMTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.29 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | — | — |
Drawdowns
SMHB vs. AMTR - Drawdown Comparison
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Drawdown Indicators
| SMHB | AMTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.30% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -25.16% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -45.05% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -58.85% | — | — |
Current DrawdownCurrent decline from peak | -41.81% | — | — |
Average DrawdownAverage peak-to-trough decline | -37.21% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.38% | — | — |
Volatility
SMHB vs. AMTR - Volatility Comparison
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Volatility by Period
| SMHB | AMTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.35% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 25.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 38.92% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.93% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.33% | — | — |
SMHB vs. AMTR - Expense Ratio Comparison
SMHB has a 0.85% expense ratio, which is higher than AMTR's 0.75% expense ratio.
Dividends
SMHB vs. AMTR - Dividend Comparison
SMHB's dividend yield for the trailing twelve months is around 21.00%, while AMTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AMTR ETRACS Alerian Midstream Energy Total Return Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B | 21.00% | 22.22% | 21.95% | 15.27% | 24.18% | 12.22% | 16.86% | 19.97% | 0.91% |
Frequently Asked Questions
SMHB and AMTR have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMTR is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMTR is cheaper with a 0.75% expense ratio, compared with 0.85% for SMHB.
SMHB has the higher dividend yield at 21.00%, compared with 0.00% for AMTR.
SMHB is categorized as Leveraged Equities, while AMTR is MLPs. SMHB tracks Solactive US Small Cap High Dividend Index (200%), while AMTR tracks Alerian Midstream Energy Index. Their fees differ too: 0.85% for SMHB and 0.75% for AMTR.
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