ETRACS IFED Invest with the Fed TR Index ETN (IFED) Performance
IFED total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.6% since Dec 31, 2025
- 1 year
- −1.7% total return
- 5 years
- +11.4% a year
- Since first price
- +12.4% a year since 2021
IFED trailing returns vs SPY, QQQ, AGG
| Period | IFED total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.7% | −1.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −15.9% | −15.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.5% | +8.5% | +7.8% | +8.4% | −1.5% |
| YTD | −0.6% | −0.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −1.7% | −1.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +61.6%+17.4%/yr | +61.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +71.5%+11.4%/yr | +71.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 15, 2021 | +81.7%+12.4%/yr | +81.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: IFED vs SPY
From Sep 15, 2021: IFED grew to $18,166, SPY to $18,200.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IFED returns by calendar year
3 of 4 full years positive. Best 2024 (+23.0%), worst 2022 (−1.5%). 2026 is year to date.
IFED annual returns table
| Year | IFED | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −0.6% | −20.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.0% | −22.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +23.0% | −13.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +20.8% | −11.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −1.5% | −22.2% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
IFED largest drawdowns
Now 16.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −22.4% | Apr 8, 2025 | Jun 27, 2025 | 48 days | 4 months |
| Mar 29, 2022 | −22.2% | Oct 12, 2022 | Nov 30, 2023 | 6 months | 1.7 years |
| Jul 22, 2026 | −20.2% | Jul 28, 2026 | not yet | 6 days | 3 months so far |
| Oct 27, 2025 | −14.6% | Mar 27, 2026 | Jul 17, 2026 | 5 months | 9 months |
| Jul 26, 2024 | −13.7% | Aug 5, 2024 | Nov 6, 2024 | 10 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
IFED risk statistics
| Statistic | 3 years | 5 years |
|---|---|---|
| Annualized return | +16.4% | +13.2% |
| Volatility (annualized) | 17.4% | 19.0% |
| Sharpe ratio | 0.71 | 0.56 |
| Sortino ratio | 1.30 | 0.92 |
| Best month | +15.0% | +15.0% |
| Worst month | −8.4% | −11.0% |
| Best 12 months | +37.2% | +37.2% |
| Worst 12 months | −1.4% | −9.3% |
| Positive months | 67% | 62% |
| Beta vs S&P 500 | 0.89 | 0.93 |
| Correlation with S&P 500 | 0.63 | 0.77 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
IFED rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 50 | −9.3% | +12.5% | +37.2% | 82% |
| 3-year (a year) | 26 | +9.2% | +15.8% | +24.3% | 100% |
| 5-year (a year) | 2 | +11.6% | +12.4% | +13.2% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
IFED performance overview
ETRACS IFED Invest with the Fed TR Index ETN (IFED) returned −1.7% over the past year and +11.4% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +12.4% a year, turning $10,000 into about $18,166. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −22.4%, from Feb 19, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. IFED finished 3 of its 4 full calendar years with a gain; the best year was 2024 (+23.0%) and the worst 2022 (−1.5%). Volatility has been 19.0% a year.
Related: IFED chart. See the IFED overview for the latest quote and fund facts.
IFED performance FAQ
What is the IFED return over the past year?
IFED returned −1.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 1.7%.
What is the average annual return of IFED?
IFED has returned +11.4% a year over 5 years, +12.4% a year since September 15, 2021 (total return, distributions reinvested).
How much would $10,000 invested in IFED be worth?
$10,000 invested in IFED at its first recorded close on September 15, 2021 would be worth about $18,166 on October 23, 2026 with distributions reinvested.
What was the worst year for IFED?
The worst calendar year was 2022, with a total return of −1.5%. The best was 2024 at +23.0%.
What is the biggest drawdown of IFED?
The largest peak-to-trough decline was −22.4% between February 19, 2025 and April 8, 2025. It recovered to the old high on June 27, 2025, 3 months after the bottom.
How volatile is IFED?
Over the past 3 years IFED had an annualized volatility of 17.4% and a Sharpe ratio of 0.71 (excess return over 1–3 month T-bills per unit of risk).