BDCX vs. FLOT
BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%), while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 5 years, BDCX returned 1.22%/yr vs 4.20%/yr for FLOT. At a 0.18 correlation, their price movements are largely independent. BDCX charges 0.95%/yr vs 0.15%/yr for FLOT.
Performance
BDCX vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, BDCX achieves a -11.90% return, which is significantly lower than FLOT's 1.87% return.
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
FLOT
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.87%
- 6M
- 2.15%
- 1Y
- 4.85%
- 3Y*
- 5.60%
- 5Y*
- 4.20%
- 10Y*
- 3.03%
BDCX vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
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% |
FLOT iShares Floating Rate Bond ETF | 1.87% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 1.35% |
Correlation
The correlation between BDCX and FLOT is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.18 |
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Return for Risk
BDCX vs. FLOT — Risk / Return Rank
BDCX
FLOT
BDCX vs. FLOT - 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 Floating Rate Bond ETF (FLOT). 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 | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.20 | ||
| Sortino ratioReturn per unit of downside risk | -12.62 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 3.22 | -2.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 11.27 | -11.87 |
| Martin ratioReturn relative to average drawdown | -1.04 | 104.83 | -105.87 |
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
| BDCX | FLOT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 6.54 | -7.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 2.38 | -2.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.66 | -0.23 |
Drawdowns
BDCX vs. FLOT - Drawdown Comparison
The maximum BDCX drawdown since its inception was -34.96%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for BDCX and FLOT.
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Drawdown Indicators
| BDCX | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.96% | -13.54% | -21.42% |
Max Drawdown (1Y)Largest decline over 1 year | -30.46% | -0.43% | -30.03% |
Max Drawdown (3Y)Largest decline over 3 years | -33.39% | -1.57% | -31.82% |
Max Drawdown (5Y)Largest decline over 5 years | -34.96% | -2.36% | -32.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.54% | — |
Current DrawdownCurrent decline from peak | -28.40% | -0.02% | -28.38% |
Average DrawdownAverage peak-to-trough decline | -10.10% | -0.21% | -9.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.35% | 0.05% | +17.30% |
Volatility
BDCX vs. FLOT - Volatility Comparison
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a higher volatility of 8.65% compared to iShares Floating Rate Bond ETF (FLOT) at 0.20%. This indicates that BDCX's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCX | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.65% | 0.20% | +8.45% |
Volatility (6M)Calculated over the trailing 6-month period | 22.81% | 0.62% | +22.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.60% | 0.75% | +26.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.59% | 1.77% | +24.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.94% | 4.15% | +22.79% |
BDCX vs. FLOT - Expense Ratio Comparison
BDCX has a 0.95% expense ratio, which is higher than FLOT's 0.15% expense ratio.
Dividends
BDCX vs. FLOT - Dividend Comparison
BDCX's dividend yield for the trailing twelve months is around 20.31%, more than FLOT's 4.54% 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 | 20.31% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLOT iShares Floating Rate Bond ETF | 4.54% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
Frequently Asked Questions
BDCX and FLOT have a correlation of 0.22, 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 FLOT (0.20%). In terms of maximum drawdown, BDCX dropped -34.96% vs FLOT's -13.54%.
On 5-year performance, FLOT leads with 4.20% vs 1.22% for BDCX. On fees, FLOT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLOT has performed better with a 4.20% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 4.54% for FLOT.
BDCX is categorized as Leveraged Equities, while FLOT is Ultrashort Bond. BDCX tracks MVIS US Business Development Companies (150%), while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.95% for BDCX and 0.15% for FLOT.
FLOT currently has the higher Sharpe Ratio (6.54 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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