SMHB vs. FVD

Last updated Apr 2, 2026

Compare and contrast key facts about ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) and First Trust Value Line Dividend Index Fund (FVD).

SMHB and FVD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMHB is a passively managed fund by UBS that tracks the performance of the Solactive US Small Cap High Dividend Index (200%). It was launched on Nov 8, 2018. FVD is a passively managed fund by First Trust that tracks the performance of the Value Line Dividend Index. It was launched on Aug 26, 2003. Both SMHB and FVD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SMHB vs. FVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) and First Trust Value Line Dividend Index Fund (FVD). The values are adjusted to include any dividend payments, if applicable.

SMHB vs. FVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B	-3.59%	-7.75%	-15.85%	35.96%	-36.03%	68.86%	-43.21%	13.05%	-24.78%
FVD First Trust Value Line Dividend Index Fund	2.84%	8.16%	10.04%	4.11%	-5.18%	25.08%	-0.02%	26.58%	-5.82%

Returns By Period

In the year-to-date period, SMHB achieves a -3.59% return, which is significantly lower than FVD's 2.84% return.

SMHB

• 1D: -1.24%
• 1M: -11.01%
• YTD: -3.59%
• 6M: -13.16%
• 1Y: -7.23%
• 3Y*: 4.09%
• 5Y*: -5.79%
• 10Y*: —

FVD

• 1D: 0.21%
• 1M: -5.37%
• YTD: 2.84%
• 6M: 3.48%
• 1Y: 8.25%
• 3Y*: 8.00%
• 5Y*: 6.69%
• 10Y*: 8.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMHB vs. FVD - Expense Ratio Comparison

SMHB has a 0.85% expense ratio, which is higher than FVD's 0.61% expense ratio.

SMHB

ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B

FVD

First Trust Value Line Dividend Index Fund

Return for Risk

SMHB vs. FVD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMHB

SMHB Risk / Return Rank: 9
SMHB Sharpe Ratio Rank: 9
SMHB Sortino Ratio Rank: 11
SMHB Omega Ratio Rank: 11
SMHB Calmar Ratio Rank: 8
SMHB Martin Ratio Rank: 7

FVD

FVD Risk / Return Rank: 33
FVD Sharpe Ratio Rank: 33
FVD Sortino Ratio Rank: 33
FVD Omega Ratio Rank: 31
FVD Calmar Ratio Rank: 34
FVD Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMHB vs. FVD - 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 First Trust Value Line Dividend Index Fund (FVD). 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	FVD	Difference
Sharpe ratio Return per unit of total volatility	-0.14	0.66	-0.81
Sortino ratio Return per unit of downside risk	0.14	1.02	-0.88
Omega ratio Gain probability vs. loss probability	1.02	1.13	-0.12
Calmar ratio Return relative to maximum drawdown	-0.24	0.89	-1.13
Martin ratio Return relative to average drawdown	-0.64	3.53	-4.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMHB vs. FVD - Sharpe Ratio Comparison

The current SMHB Sharpe Ratio is -0.14, which is lower than the FVD Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of SMHB and FVD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMHB	FVD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	0.66	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	0.53	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	0.58	-0.71

Correlation

The correlation between SMHB and FVD is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SMHB vs. FVD - Dividend Comparison

SMHB's dividend yield for the trailing twelve months is around 23.16%, more than FVD's 2.30% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B	23.16%	22.22%	21.95%	15.27%	24.18%	12.22%	16.86%	19.97%	0.91%	0.00%	0.00%	0.00%
FVD First Trust Value Line Dividend Index Fund	2.30%	2.36%	2.23%	2.34%	2.20%	1.75%	2.31%	2.03%	2.50%	2.10%	2.04%	2.34%

Drawdowns

SMHB vs. FVD - Drawdown Comparison

The maximum SMHB drawdown since its inception was -90.30%, which is greater than FVD's maximum drawdown of -51.00%. Use the drawdown chart below to compare losses from any high point for SMHB and FVD.

Drawdown Indicators

	SMHB	FVD	Difference
Max Drawdown Largest peak-to-trough decline	-90.30%	-51.00%	-39.30%
Max Drawdown (1Y) Largest decline over 1 year	-29.54%	-9.29%	-20.25%
Max Drawdown (5Y) Largest decline over 5 years	-58.85%	-16.41%	-42.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.25%	—
Current Drawdown Current decline from peak	-46.93%	-5.37%	-41.56%
Average Drawdown Average peak-to-trough decline	-37.11%	-5.45%	-31.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.25%	2.33%	+8.92%

Volatility

SMHB vs. FVD - Volatility Comparison

ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) has a higher volatility of 13.98% compared to First Trust Value Line Dividend Index Fund (FVD) at 3.13%. This indicates that SMHB's price experiences larger fluctuations and is considered to be riskier than FVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMHB	FVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.98%	3.13%	+10.85%
Volatility (6M) Calculated over the trailing 6-month period	29.86%	6.46%	+23.40%
Volatility (1Y) Calculated over the trailing 1-year period	50.15%	12.53%	+37.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.97%	12.76%	+36.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.97%	15.43%	+51.54%