The present invention relates to a traction drive with a compensating device for vibration reduction of a driven shaft, for example a camshaft, a water pump shaft or an injection pump shaft of an internal combustion engine, having a drive wheel which is coupled to the shaft, having a drive means, and having at least one compensating mass which is relatively movable in the traction drive and having at least one actuating mechanism for moving the compensating mass. Here, the compensating mass is movable in or counter to the rotational direction of the shaft, and the actuating mechanism is formed as a tangentially acting actuator for moving the compensating mass. The invention also relates to a method for vibration reduction in a traction drive, having a driven shaft, a drive wheel and a drive means, wherein at least one actuating mechanism moves at least one compensating mass which is relatively movable in the traction drive, having the steps: activating the actuating mechanism, moving the compensating mass and generating a compensating torque at the driven shaft. In the case of a control drive with a camshaft adjusting system for the angular adjustment of the control time, the camshaft which is movable relative to the traction drive can simultaneously be used as a compensating mass for vibration reduction.