UDOW vs. IFED
UDOW (ProShares UltraPro Dow30) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - UDOW tracks the Dow Jones Industrial Average (300%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, UDOW returned 33.01%/yr vs 16.71%/yr for IFED. A 0.78 correlation means they provide meaningful diversification when combined. UDOW charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
UDOW vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, UDOW achieves a 12.27% return, which is significantly higher than IFED's -3.52% return.
UDOW
- 1D
- -3.38%
- 1M
- 10.84%
- YTD
- 12.27%
- 6M
- 12.78%
- 1Y
- 53.13%
- 3Y*
- 33.01%
- 5Y*
- 12.75%
- 10Y*
- 23.30%
IFED
- 1D
- -1.24%
- 1M
- 4.85%
- YTD
- -3.52%
- 6M
- -3.51%
- 1Y
- 1.97%
- 3Y*
- 16.71%
- 5Y*
- —
- 10Y*
- —
UDOW vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UDOW ProShares UltraPro Dow30 | 12.27% | 24.46% | 28.47% | 32.72% | -32.39% | 12.59% |
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 UDOW and IFED is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | 0.78 |
The correlation between UDOW and IFED shifts across timeframes, from 0.65 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UDOW vs. IFED — Risk / Return Rank
UDOW
IFED
UDOW vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Dow30 (UDOW) 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.
| UDOW | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.04 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 0.14 | +1.77 |
| Martin ratioReturn relative to average drawdown | 6.75 | 0.34 | +6.40 |
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
| UDOW | IFED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.12 | +1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.65 | -0.11 |
Drawdowns
UDOW vs. IFED - Drawdown Comparison
The maximum UDOW drawdown since its inception was -80.29%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for UDOW and IFED.
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Drawdown Indicators
| UDOW | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.29% | -22.36% | -57.93% |
Max Drawdown (1Y)Largest decline over 1 year | -28.07% | -14.65% | -13.42% |
Max Drawdown (3Y)Largest decline over 3 years | -44.83% | -22.36% | -22.47% |
Max Drawdown (5Y)Largest decline over 5 years | -55.79% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -80.29% | — | — |
Current DrawdownCurrent decline from peak | -3.38% | -5.50% | +2.12% |
Average DrawdownAverage peak-to-trough decline | -14.39% | -5.84% | -8.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.90% | 5.75% | +2.15% |
Volatility
UDOW vs. IFED - Volatility Comparison
ProShares UltraPro Dow30 (UDOW) has a higher volatility of 8.80% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.50%. This indicates that UDOW'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
| UDOW | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.80% | 4.50% | +4.30% |
Volatility (6M)Calculated over the trailing 6-month period | 27.61% | 12.86% | +14.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.12% | 16.21% | +19.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.19% | 19.88% | +24.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.76% | 19.88% | +31.88% |
UDOW vs. IFED - Expense Ratio Comparison
UDOW has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
UDOW vs. IFED - Dividend Comparison
UDOW's dividend yield for the trailing twelve months is around 1.21%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
UDOW ProShares UltraPro Dow30 | 1.21% | 1.38% | 0.95% | 0.95% | 0.83% | 0.26% | 0.19% | 0.61% | 0.73% | 0.13% | 0.26% | 0.21% |
Frequently Asked Questions
UDOW and IFED have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UDOW has higher volatility (8.80%) compared to IFED (4.50%). In terms of maximum drawdown, UDOW dropped -80.29% vs IFED's -22.36%.
On 3-year performance, UDOW leads with 33.01% vs 16.71% for IFED. 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, UDOW has performed better with a 33.01% return vs 16.71%. 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 UDOW.
UDOW has the higher dividend yield at 1.21%, compared with 0.00% for IFED.
UDOW tracks Dow Jones Industrial Average (300%), 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 UDOW and 0.45% for IFED.
UDOW currently has the higher Sharpe Ratio (1.48 vs 0.12), 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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