TEK vs. HDLB
TEK (iShares Technology Opportunities Active ETF) and HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) are both exchange-traded funds - TEK is a Technology Equities fund actively managed by iShares, while HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%). TEK is actively managed, while HDLB is passively managed. Over the past year, TEK returned 61.28% vs 16.17% for HDLB. At a correlation of -0.07, they often move in opposite directions. TEK charges 0.75%/yr vs 1.65%/yr for HDLB.
Performance
TEK vs. HDLB - Performance Comparison
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Returns By Period
In the year-to-date period, TEK achieves a 39.87% return, which is significantly higher than HDLB's 7.10% return.
TEK
- 1D
- -1.99%
- 1M
- 13.74%
- YTD
- 39.87%
- 6M
- 37.87%
- 1Y
- 61.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDLB
- 1D
- -2.36%
- 1M
- -7.06%
- YTD
- 7.10%
- 6M
- 6.20%
- 1Y
- 16.17%
- 3Y*
- 26.25%
- 5Y*
- 10.71%
- 10Y*
- —
TEK vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TEK iShares Technology Opportunities Active ETF | 39.87% | 18.63% | 2.35% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 7.10% | 27.26% | -7.66% |
Correlation
The correlation between TEK and HDLB is -0.14, 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 | -0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024 | -0.07 |
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Return for Risk
TEK vs. HDLB — Risk / Return Rank
TEK
HDLB
TEK vs. HDLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Technology Opportunities Active ETF (TEK) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB). 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.
| TEK | HDLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.12 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 1.00 | +2.19 |
| Martin ratioReturn relative to average drawdown | 9.29 | 2.42 | +6.87 |
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
| TEK | HDLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 0.61 | +1.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | 0.09 | +1.26 |
Drawdowns
TEK vs. HDLB - Drawdown Comparison
The maximum TEK drawdown since its inception was -28.24%, smaller than the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for TEK and HDLB.
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Drawdown Indicators
| TEK | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.24% | -78.70% | +50.46% |
Max Drawdown (1Y)Largest decline over 1 year | -19.29% | -16.17% | -3.12% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.81% | — |
Current DrawdownCurrent decline from peak | -2.64% | -16.17% | +13.53% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -27.46% | +21.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 6.70% | -0.08% |
Volatility
TEK vs. HDLB - Volatility Comparison
iShares Technology Opportunities Active ETF (TEK) has a higher volatility of 9.38% compared to ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) at 6.50%. This indicates that TEK's price experiences larger fluctuations and is considered to be riskier than HDLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEK | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.38% | 6.50% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 21.28% | 18.23% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.71% | 26.57% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.20% | 30.56% | -1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.20% | 43.58% | -14.38% |
TEK vs. HDLB - Expense Ratio Comparison
TEK has a 0.75% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Dividends
TEK vs. HDLB - Dividend Comparison
TEK's dividend yield for the trailing twelve months is around 1.16%, less than HDLB's 12.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 12.42% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
TEK iShares Technology Opportunities Active ETF | 1.16% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TEK and HDLB have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEK has higher volatility (9.38%) compared to HDLB (6.50%). In terms of maximum drawdown, TEK dropped -28.24% vs HDLB's -78.70%.
On 1-year performance, TEK leads with 61.28% vs 16.17% for HDLB. On fees, TEK is cheaper at 0.75% per year. On volatility, HDLB has been the lower-risk option at 6.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TEK has performed better with a 61.28% return vs 16.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TEK is cheaper with a 0.75% expense ratio, compared with 1.65% for HDLB.
HDLB has the higher dividend yield at 12.42%, compared with 1.16% for TEK.
TEK is categorized as Technology Equities, while HDLB is Leveraged Equities. They also come from different issuers: iShares and UBS. Their fees differ too: 0.75% for TEK and 1.65% for HDLB.
TEK currently has the higher Sharpe Ratio (2.40 vs 0.61), 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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