BBEU vs. BDCX
BBEU (JPMorgan BetaBuilders Europe ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - BBEU is a Europe Equities fund tracking the Morningstar Developed Europe Target Market Exposure 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, BBEU returned 8.62%/yr vs 1.22%/yr for BDCX. A 0.54 correlation means they provide meaningful diversification when combined. BBEU charges 0.09%/yr vs 0.95%/yr for BDCX.
Performance
BBEU vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, BBEU achieves a 5.14% return, which is significantly higher than BDCX's -11.90% return.
BBEU
- 1D
- 0.47%
- 1M
- -0.53%
- YTD
- 5.14%
- 6M
- 8.45%
- 1Y
- 16.57%
- 3Y*
- 16.39%
- 5Y*
- 8.62%
- 10Y*
- —
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
BBEU vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BBEU JPMorgan BetaBuilders Europe ETF | 5.14% | 36.37% | 1.85% | 20.31% | -14.72% | 17.50% | 17.07% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -11.90% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 24.50% |
Correlation
The correlation between BBEU and BDCX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.54 |
The correlation between BBEU and BDCX shifts across timeframes, from 0.36 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBEU vs. BDCX — Risk / Return Rank
BBEU
BDCX
BBEU vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Europe ETF (BBEU) 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.
| BBEU | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.72 | ||
| Sortino ratioReturn per unit of downside risk | +2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.91 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.59 | +1.95 |
| Martin ratioReturn relative to average drawdown | 5.04 | -1.04 | +6.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBEU | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | -0.66 | +1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.05 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.43 | +0.04 |
Drawdowns
BBEU vs. BDCX - Drawdown Comparison
The maximum BBEU drawdown since its inception was -36.27%, roughly equal to the maximum BDCX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for BBEU and BDCX.
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Drawdown Indicators
| BBEU | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.27% | -34.96% | -1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.23% | -30.46% | +18.23% |
Max Drawdown (3Y)Largest decline over 3 years | -14.23% | -33.39% | +19.16% |
Max Drawdown (5Y)Largest decline over 5 years | -31.08% | -34.96% | +3.88% |
Current DrawdownCurrent decline from peak | -3.01% | -28.40% | +25.39% |
Average DrawdownAverage peak-to-trough decline | -6.13% | -10.10% | +3.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 17.35% | -14.05% |
Volatility
BBEU vs. BDCX - Volatility Comparison
The current volatility for JPMorgan BetaBuilders Europe ETF (BBEU) is 4.79%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that BBEU 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
| BBEU | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 8.65% | -3.86% |
Volatility (6M)Calculated over the trailing 6-month period | 13.18% | 22.81% | -9.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.67% | 27.60% | -11.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.52% | 26.59% | -9.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.32% | 26.94% | -7.62% |
BBEU vs. BDCX - Expense Ratio Comparison
BBEU has a 0.09% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
BBEU vs. BDCX - Dividend Comparison
BBEU's dividend yield for the trailing twelve months is around 2.83%, less than BDCX's 20.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBEU JPMorgan BetaBuilders Europe ETF | 2.83% | 2.83% | 4.16% | 2.94% | 4.72% | 2.63% | 2.29% | 3.24% | 0.49% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 20.31% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% | 0.00% | 0.00% |
Frequently Asked Questions
BBEU and BDCX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (8.65%) compared to BBEU (4.79%). In terms of maximum drawdown, BBEU dropped -36.27% vs BDCX's -34.96%.
On 5-year performance, BBEU leads with 8.62% vs 1.22% for BDCX. On fees, BBEU is cheaper at 0.09% per year. On volatility, BBEU has been the lower-risk option at 4.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBEU has performed better with a 8.62% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBEU is cheaper with a 0.09% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 2.83% for BBEU.
BBEU is categorized as Europe Equities, while BDCX is Leveraged Equities. BBEU tracks Morningstar Developed Europe Target Market Exposure Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: JPMorgan and UBS. Their fees differ too: 0.09% for BBEU and 0.95% for BDCX.
BBEU currently has the higher Sharpe Ratio (1.06 vs -0.66), 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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