BDCX vs. CEFD
Compare and contrast key facts about ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD).
BDCX and CEFD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BDCX is a passively managed fund by UBS that tracks the performance of the MVIS US Business Development Companies (150%). It was launched on Jun 2, 2020. CEFD is a passively managed fund by UBS that tracks the performance of the S-Network Composite Closed-End Fund Index (150%). It was launched on Jun 2, 2020. Both BDCX and CEFD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BDCX or CEFD.
Performance
BDCX vs. CEFD - Performance Comparison
Returns By Period
In the year-to-date period, BDCX achieves a 10.65% return, which is significantly lower than CEFD's 21.83% return.
BDCX
10.65%
-0.99%
0.75%
16.61%
N/A
N/A
CEFD
21.83%
-0.54%
12.28%
28.81%
N/A
N/A
Key characteristics
| BDCX | CEFD | |
|---|---|---|
| Sharpe Ratio | 1.03 | 2.26 |
| Sortino Ratio | 1.45 | 2.96 |
| Omega Ratio | 1.19 | 1.43 |
| Calmar Ratio | 1.26 | 1.05 |
| Martin Ratio | 4.02 | 13.26 |
| Ulcer Index | 4.26% | 2.21% |
| Daily Std Dev | 16.60% | 12.94% |
| Max Drawdown | -34.96% | -36.95% |
| Current Drawdown | -4.17% | -7.10% |
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BDCX vs. CEFD - Expense Ratio Comparison
Both BDCX and CEFD have an expense ratio of 0.95%.
Correlation
The correlation between BDCX and CEFD is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
BDCX vs. CEFD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD). 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.
Dividends
BDCX vs. CEFD - Dividend Comparison
BDCX's dividend yield for the trailing twelve months is around 15.93%, more than CEFD's 13.29% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 15.93% | 14.71% | 17.46% | 11.52% | 6.32% |
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | 13.29% | 14.76% | 16.57% | 10.31% | 5.37% |
Drawdowns
BDCX vs. CEFD - Drawdown Comparison
The maximum BDCX drawdown since its inception was -34.96%, smaller than the maximum CEFD drawdown of -36.95%. Use the drawdown chart below to compare losses from any high point for BDCX and CEFD. For additional features, visit the drawdowns tool.
Volatility
BDCX vs. CEFD - Volatility Comparison
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a higher volatility of 6.18% compared to ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) at 4.86%. This indicates that BDCX's price experiences larger fluctuations and is considered to be riskier than CEFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.