AMUB vs. BDCX
AMUB (ETRACS Alerian MLP Index ETN Class B) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - AMUB is a MLPs fund tracking the Alerian MLP Index, while BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%). Both are passively managed. Over the past 5 years, AMUB returned 15.00%/yr vs 2.22%/yr for BDCX. Their 0.47 correlation means their historical movements had little consistent relationship. AMUB charges 0.80%/yr vs 0.95%/yr for BDCX.
Performance
AMUB vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, AMUB achieves a 23.05% return, which is significantly higher than BDCX's -10.75% return.
AMUB
- 1D
- 1.06%
- 1M
- 7.16%
- 6M
- 13.97%
- YTD
- 23.05%
- 1Y
- 20.12%
- 3Y*
- 15.25%
- 5Y*
- 15.00%
- 10Y*
- 3.58%
- ALL TIME*
- 0.51%
BDCX
- 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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.17K | $7.30K | $19.86K | |
| $38.67K | $35.86K | $42.25K |
AMUB vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AMUB ETRACS Alerian MLP Index ETN Class B | 23.05% | 2.05% | 15.68% | 16.89% | 21.91% | 28.83% | -5.89% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -10.75% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 25.40% |
Correlation
The correlation between AMUB and BDCX is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.47 |
Over the past year, the correlation between AMUB and BDCX has dropped to 0.08 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
AMUB vs. BDCX — Risk / Return Rank
AMUB
BDCX
AMUB vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian MLP Index ETN Class B (AMUB) and ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX). 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.
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.
| AMUB | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.95 | ||
| Sortino ratioReturn per unit of downside risk | +2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.90 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | -0.74 | +2.39 |
| Martin ratioReturn relative to average drawdown | 4.50 | -1.28 | +5.78 |
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Drawdowns
AMUB vs. BDCX - Drawdown Comparison
The maximum AMUB drawdown since its inception was -79.46%, which is greater than BDCX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for AMUB and BDCX.
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Drawdown Indicators
| AMUB | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.46% | -34.96% | -44.50% |
Max Drawdown (1Y)Largest decline over 1 year | -11.02% | -26.35% | +15.33% |
Max Drawdown (3Y)Largest decline over 3 years | -17.22% | -33.39% | +16.17% |
Max Drawdown (5Y)Largest decline over 5 years | -20.58% | -34.96% | +14.38% |
Max Drawdown (10Y)Largest decline over 10 years | -78.86% | — | — |
Current DrawdownCurrent decline from peak | -1.28% | -27.46% | +26.18% |
Average DrawdownAverage peak-to-trough decline | -28.87% | -10.50% | -18.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.36% | 15.28% | -10.92% |
Volatility
AMUB vs. BDCX - Volatility Comparison
The current volatility for ETRACS Alerian MLP Index ETN Class B (AMUB) is 4.77%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 7.16%. This indicates that AMUB experiences smaller price fluctuations and is considered to be less risky than BDCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMUB | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 7.16% | -2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.09% | 22.67% | -11.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.47% | 28.36% | -13.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.86% | 26.69% | -6.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.18% | 26.87% | +0.31% |
AMUB vs. BDCX - Expense Ratio Comparison
AMUB has a 0.80% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
AMUB vs. BDCX - Dividend Comparison
AMUB has not paid dividends to shareholders, while BDCX's dividend yield for the trailing twelve months is around 21.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
AMUB ETRACS Alerian MLP Index ETN Class B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 21.64% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% |
Frequently Asked Questions
AMUB and BDCX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (7.16%) compared to AMUB (4.77%). In terms of maximum drawdown, AMUB dropped -79.46% vs BDCX's -34.96%.
On 5-year performance, AMUB leads with 15.00% vs 2.22% for BDCX. On fees, AMUB is cheaper at 0.80% per year. On volatility, AMUB has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AMUB has performed better with a 15.00% return vs 2.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AMUB is cheaper with a 0.80% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 21.64%, compared with 0.00% for AMUB.
AMUB is categorized as MLPs, while BDCX is Leveraged Equities. AMUB tracks Alerian MLP Index, while BDCX tracks MVIS US Business Development Companies (150%). Their fees differ too: 0.80% for AMUB and 0.95% for BDCX.
AMUB currently has the higher Sharpe Ratio (1.26 vs -0.69), 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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