BDCX vs. COMT

Last updated Jun 3, 2026

BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) and COMT (iShares Commodities Select Strategy ETF) are both exchange-traded funds - BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%), while COMT is a Commodities fund actively managed by iShares. BDCX is passively managed, while COMT is actively managed. Over the past 5 years, BDCX returned 2.33%/yr vs 13.58%/yr for COMT. At a 0.17 correlation, their price movements are largely independent. BDCX charges 0.95%/yr vs 0.48%/yr for COMT.

Performance

BDCX vs. COMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and iShares Commodities Select Strategy ETF (COMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDCX achieves a -8.64% return, which is significantly lower than COMT's 38.58% return.

BDCX

• 1D: -0.27%
• 1M: -7.16%
• YTD: -8.64%
• 6M: -8.85%
• 1Y: -13.87%
• 3Y*: 4.83%
• 5Y*: 2.33%
• 10Y*: —

COMT

• 1D: 0.61%
• 1M: -3.28%
• YTD: 38.58%
• 6M: 38.42%
• 1Y: 47.00%
• 3Y*: 16.55%
• 5Y*: 13.58%
• 10Y*: 9.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BDCX vs. COMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	-8.64%	-10.42%	15.32%	35.33%	-17.67%	52.70%	24.50%
COMT iShares Commodities Select Strategy ETF	38.58%	6.07%	5.96%	-6.56%	19.45%	36.88%	13.91%

Correlation

The correlation between BDCX and COMT is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.17

The correlation between BDCX and COMT shifts across timeframes, from -0.11 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BDCX vs. COMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BDCX

BDCX Risk / Return Rank: 4
BDCX Sharpe Ratio Rank: 4
BDCX Sortino Ratio Rank: 4
BDCX Omega Ratio Rank: 4
BDCX Calmar Ratio Rank: 4
BDCX Martin Ratio Rank: 4

COMT

COMT Risk / Return Rank: 72
COMT Sharpe Ratio Rank: 66
COMT Sortino Ratio Rank: 60
COMT Omega Ratio Rank: 64
COMT Calmar Ratio Rank: 92
COMT Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BDCX vs. COMT - 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 iShares Commodities Select Strategy ETF (COMT). 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.

	BDCX	COMT	Difference
Sharpe ratio Return per unit of total volatility	-0.52	2.22	-2.74
Sortino ratio Return per unit of downside risk	-0.60	2.86	-3.46
Omega ratio Gain probability vs. loss probability	0.93	1.39	-0.46
Calmar ratio Return relative to maximum drawdown	-0.50	6.26	-6.75
Martin ratio Return relative to average drawdown	-0.88	14.93	-15.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BDCX vs. COMT - Sharpe Ratio Comparison

The current BDCX Sharpe Ratio is -0.52, which is lower than the COMT Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of BDCX and COMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BDCX	COMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.52	2.22	-2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.65	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.20	+0.26

Drawdowns

BDCX vs. COMT - Drawdown Comparison

The maximum BDCX drawdown since its inception was -34.96%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for BDCX and COMT.

Drawdown Indicators

	BDCX	COMT	Difference
Max Drawdown Largest peak-to-trough decline	-34.96%	-51.89%	+16.93%
Max Drawdown (1Y) Largest decline over 1 year	-30.46%	-8.02%	-22.44%
Max Drawdown (3Y) Largest decline over 3 years	-33.39%	-13.31%	-20.08%
Max Drawdown (5Y) Largest decline over 5 years	-34.96%	-29.00%	-5.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.22%	—
Current Drawdown Current decline from peak	-25.75%	-5.56%	-20.19%
Average Drawdown Average peak-to-trough decline	-10.05%	-24.08%	+14.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.06%	3.36%	+13.70%

Volatility

BDCX vs. COMT - Volatility Comparison

The current volatility for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) is 6.41%, while iShares Commodities Select Strategy ETF (COMT) has a volatility of 7.60%. This indicates that BDCX experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDCX	COMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	7.60%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	22.02%	18.80%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	26.90%	21.38%	+5.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.44%	21.07%	+5.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	18.89%	+7.96%

BDCX vs. COMT - Expense Ratio Comparison

BDCX has a 0.95% expense ratio, which is higher than COMT's 0.48% expense ratio.

Dividends

BDCX vs. COMT - Dividend Comparison

BDCX's dividend yield for the trailing twelve months is around 19.59%, more than COMT's 5.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	19.59%	19.17%	15.28%	14.71%	17.47%	11.52%	6.32%	0.00%	0.00%	0.00%	0.00%	0.00%
COMT iShares Commodities Select Strategy ETF	5.59%	7.74%	4.90%	5.19%	29.79%	17.79%	0.36%	2.61%	11.65%	5.16%	0.52%	1.44%

Frequently Asked Questions

Can I hold both BDCX and COMT in my portfolio?

BDCX and COMT 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.

Which is riskier, BDCX or COMT?

COMT has higher volatility (7.60%) compared to BDCX (6.41%). In terms of maximum drawdown, BDCX dropped -34.96% vs COMT's -51.89%.

Which ETF is better, BDCX or COMT?

On 5-year performance, COMT leads with 13.58% vs 2.33% for BDCX. On fees, COMT is cheaper at 0.48% per year. On volatility, BDCX has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BDCX or COMT?

Over the 5-year period, COMT has performed better with a 13.58% return vs 2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BDCX or COMT?

COMT is cheaper with a 0.48% expense ratio, compared with 0.95% for BDCX.

Which ETF pays a higher dividend yield, BDCX or COMT?

BDCX has the higher dividend yield at 19.59%, compared with 5.59% for COMT.

What is the main difference between BDCX and COMT?

BDCX is categorized as Leveraged Equities, while COMT is Commodities. They also come from different issuers: UBS and iShares. Their fees differ too: 0.95% for BDCX and 0.48% for COMT.

Which has better risk-adjusted returns?

COMT currently has the higher Sharpe Ratio (2.22 vs -0.52), 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.