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 11.55%/yr vs 1.22%/yr for BDCX. At a 0.48 correlation, their price movements are largely independent. 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 14.01% return, which is significantly higher than BDCX's -13.68% return.
AMUB
- 1D
- 1.92%
- 1M
- -7.94%
- YTD
- 14.01%
- 6M
- 13.63%
- 1Y
- 13.10%
- 3Y*
- 15.44%
- 5Y*
- 11.55%
- 10Y*
- 2.79%
BDCX
- 1D
- 0.57%
- 1M
- -1.31%
- YTD
- -13.68%
- 6M
- -10.71%
- 1Y
- -17.92%
- 3Y*
- 3.31%
- 5Y*
- 1.22%
- 10Y*
- —
AMUB vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AMUB ETRACS Alerian MLP Index ETN Class B | 14.01% | 2.05% | 15.68% | 16.89% | 21.91% | 28.83% | -5.89% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -13.68% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 25.40% |
Correlation
The correlation between AMUB and BDCX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.48 |
Over the past year, the correlation between AMUB and BDCX has dropped to 0.11 - well below their long-term average of 0.48, 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 | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.91 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | -0.59 | +1.83 |
| Martin ratioReturn relative to average drawdown | 3.36 | -0.99 | +4.35 |
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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 | -10.69% | -30.46% | +19.77% |
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 | -8.53% | -29.85% | +21.32% |
Average DrawdownAverage peak-to-trough decline | -29.11% | -10.21% | -18.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 18.05% | -14.13% |
Volatility
AMUB vs. BDCX - Volatility Comparison
The current volatility for ETRACS Alerian MLP Index ETN Class B (AMUB) is 5.28%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.40%. 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 | 5.28% | 8.40% | -3.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 23.09% | -13.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.85% | 27.74% | -13.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.12% | 26.58% | -6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.13% | 26.90% | +0.23% |
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 20.73%.
| 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 | 20.73% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% |
Frequently Asked Questions
AMUB and BDCX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (8.40%) compared to AMUB (5.28%). In terms of maximum drawdown, AMUB dropped -79.46% vs BDCX's -34.96%.
On 5-year performance, AMUB leads with 11.55% vs 1.22% for BDCX. On fees, AMUB is cheaper at 0.80% per year. On volatility, AMUB has been the lower-risk option at 5.28%. 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 11.55% return vs 1.22%. 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 20.73%, 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 (0.96 vs -0.65), 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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