- Issuer
- UBS
- Inception Date
- Jun 2, 2020
- Category
- Leveraged Equities
- Leveraged
- 1.5x
- Index Tracked
- MVIS US Business Development Companies (150%)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $7M
Highlights
- Avg. Volume (1M)
- 2K
- Avg. Volume Value (1M)
- $35.86K
Share Price Chart
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Performance
BDCX Performance Chart
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) is down 10.8% since the beginning of the year. BDCX is currently trading at $19 per share. Investors who bought $1,000 worth of BDCX shares 5 years ago would now be looking at an investment worth $1,116.
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Compare this symbol against anything
Returns By Period
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has returned -10.75% so far this year and -18.23% over the past 12 months.
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN
- 1D
- -0.19%
- 1M
- -2.20%
- 6M
- -9.86%
- YTD
- -10.75%
- 1Y
- -18.23%
- 3Y*
- 0.23%
- 5Y*
- 2.22%
- 10Y*
- —
- ALL TIME*
- 11.61%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
BDCX Monthly Returns History
Based on dividend-adjusted daily data since Jun 3, 2020, BDCX's average daily return is +0.06%, while the average monthly return is +1.19%. At this rate, an investment would double in approximately 4.9 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +30.5%, while the worst month was Sep 2022 at -22.3%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 3 months.
On a daily basis, BDCX closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +12.7%, while the worst single day was Apr 4, 2025 at -10.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.98% | -14.28% | 1.87% | 11.96% | -6.76% | 0.48% | -1.58% | -10.75% | |||||
| 2025 | 6.82% | 0.92% | -6.55% | -10.95% | 7.46% | 1.03% | 2.05% | 0.31% | -10.21% | 0.31% | 0.09% | -0.31% | -10.42% |
| 2024 | 1.92% | -0.04% | 5.13% | 1.41% | 4.79% | -1.41% | -0.68% | -2.90% | 0.69% | 0.21% | 5.82% | -0.21% | 15.32% |
| 2023 | 11.75% | 1.96% | -7.40% | 1.28% | 1.13% | 6.65% | 8.12% | -0.44% | 2.10% | -7.28% | 9.11% | 5.62% | 35.33% |
| 2022 | 3.22% | -0.48% | 2.59% | -6.87% | -5.25% | -11.24% | 12.05% | -0.42% | -22.27% | 17.46% | 6.66% | -8.22% | -17.67% |
| 2021 | 2.52% | 14.95% | 6.88% | 7.97% | 2.36% | 0.85% | 0.15% | 1.98% | 0.10% | 6.35% | -3.84% | 4.04% | 52.70% |
Benchmark Metrics
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN has an annualized alpha of -1.16%, beta of 0.99, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since June 03, 2020.
- This ETF participated in 99.09% of S&P 500 Index downside but only 85.28% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -1.16%
- Beta
- 0.99
- R²
- 0.39
- Upside Capture
- 85.28%
- Downside Capture
- 99.09%
Expense Ratio
BDCX has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BDCX ranks 3 for risk / return — above 3% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BDCX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.87 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.25 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.00 | -2.75 |
| Martin ratioReturn relative to average drawdown | -1.28 | 8.49 | -9.77 |
Dividends
Dividend History
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN provided a 21.64% dividend yield over the last twelve months, with an annual payout of $4.09 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $4.09 | $4.68 | $4.96 | $4.82 | $4.97 | $4.62 | $1.88 |
Dividend yield | 21.64% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% |
Monthly Dividends
The table displays the monthly dividend distributions for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.77 | $0.00 | $0.00 | $1.03 | $0.00 | $0.00 | $1.17 | $2.97 | |||||
| 2025 | $0.90 | $0.00 | $0.00 | $1.56 | $0.00 | $0.00 | $1.10 | $0.00 | $0.00 | $1.12 | $0.00 | $0.00 | $4.68 |
| 2024 | $1.19 | $0.00 | $0.00 | $1.28 | $0.00 | $0.00 | $1.25 | $0.00 | $0.00 | $1.24 | $0.00 | $0.00 | $4.96 |
| 2023 | $1.19 | $0.00 | $0.00 | $1.21 | $0.00 | $0.00 | $1.17 | $0.00 | $0.00 | $1.25 | $0.00 | $0.00 | $4.82 |
| 2022 | $1.25 | $0.00 | $0.00 | $1.25 | $0.00 | $0.00 | $1.26 | $0.00 | $0.00 | $1.20 | $0.00 | $0.00 | $4.97 |
| 2021 | $1.02 | $0.00 | $0.00 | $1.14 | $0.00 | $0.00 | $1.21 | $0.00 | $0.00 | $1.25 | $0.00 | $0.00 | $4.62 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN was 34.96%, occurring on Sep 29, 2022. Recovery took 304 trading sessions.
The current ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN drawdown is 27.46%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-34.96%Sep 2022 | 5mo 11d | 1y 2mo | 1y 7moApr 2022 - Dec 2023 | Bear market2022 |
-33.39%Mar 2026 | 1y 1mo | — | 1y 5moFeb 2025 - now | — |
-20.19%Jul 2020 | 1mo | 4mo 4d | 5mo 4dJun 2020 - Nov 2020 | — |
-13.63%Aug 2024 | 21d | 3mo 26d | 4mo 17dJul 2024 - Nov 2024 | — |
-10.14%Dec 2020 | 13d | 1mo 13d | 1mo 26dDec 2020 - Feb 2021 | — |
Drawdown Indicators
| BDCX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.96% | -56.78% | +21.82% |
Max Drawdown (1Y)Largest decline over 1 year | -26.35% | -9.10% | -17.25% |
Max Drawdown (3Y)Largest decline over 3 years | -33.39% | -18.90% | -14.49% |
Max Drawdown (5Y)Largest decline over 5 years | -34.96% | -25.43% | -9.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -27.46% | -1.58% | -25.88% |
Average DrawdownAverage peak-to-trough decline | -10.50% | -10.70% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.28% | 2.14% | +13.14% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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