BDCX vs. ARCC
BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) is Leveraged Equities fund tracking the MVIS US Business Development Companies (150%), while ARCC (Ares Capital Corporation) is a stock. Over the past 5 years, BDCX returned 2.22%/yr vs 8.57%/yr for ARCC. Their correlation of 0.83 means they have usually moved in the same direction.
Performance
BDCX vs. ARCC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BDCX achieves a -10.75% return, which is significantly lower than ARCC's -2.30% return.
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%
ARCC
- 1D
- -0.37%
- 1M
- 0.16%
- 6M
- -0.63%
- YTD
- -2.30%
- 1Y
- -7.66%
- 3Y*
- 8.39%
- 5Y*
- 8.57%
- 10Y*
- 12.33%
- ALL TIME*
- 11.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $81.64M | $84.10M | $93.93M | |
| $38.67K | $35.86K | $42.25K |
BDCX vs. ARCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
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% |
ARCC Ares Capital Corporation | -2.30% | 1.07% | 19.78% | 20.03% | -3.84% | 36.14% | 18.41% |
Correlation
The correlation between BDCX and ARCC is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.83 |
The correlation between BDCX and ARCC has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BDCX vs. ARCC — Risk / Return Rank
BDCX
ARCC
BDCX vs. ARCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and Ares Capital Corporation (ARCC). 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.
| BDCX | ARCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.94 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.50 | -0.25 |
| Martin ratioReturn relative to average drawdown | -1.28 | -0.91 | -0.37 |
Loading charts...
Drawdowns
BDCX vs. ARCC - Drawdown Comparison
The maximum BDCX drawdown since its inception was -34.96%, smaller than the maximum ARCC drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for BDCX and ARCC.
Loading charts...
Drawdown Indicators
| BDCX | ARCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.96% | -79.36% | +44.40% |
Max Drawdown (1Y)Largest decline over 1 year | -26.35% | -17.35% | -9.00% |
Max Drawdown (3Y)Largest decline over 3 years | -33.39% | -19.35% | -14.04% |
Max Drawdown (5Y)Largest decline over 5 years | -34.96% | -21.76% | -13.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.77% | — |
Current DrawdownCurrent decline from peak | -27.46% | -11.07% | -16.39% |
Average DrawdownAverage peak-to-trough decline | -10.50% | -9.12% | -1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.28% | 9.51% | +5.77% |
Volatility
BDCX vs. ARCC - Volatility Comparison
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a higher volatility of 7.16% compared to Ares Capital Corporation (ARCC) at 4.33%. This indicates that BDCX's price experiences larger fluctuations and is considered to be riskier than ARCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BDCX | ARCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 4.33% | +2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 22.67% | 14.79% | +7.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.36% | 18.86% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.69% | 19.97% | +6.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.87% | 25.58% | +1.29% |
Dividends
BDCX vs. ARCC - Dividend Comparison
BDCX's dividend yield for the trailing twelve months is around 21.64%, more than ARCC's 10.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | 10.23% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCX and ARCC have a correlation of 0.82, 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 ARCC (4.33%). In terms of maximum drawdown, BDCX dropped -34.96% vs ARCC's -79.36%.
ARCC currently has the higher Sharpe Ratio (-0.46 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.
Find the right allocation for BDCX and ARCC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer