BDCX vs. INTW

Last updated Jun 24, 2026

BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) and INTW (GraniteShares 2x Long INTC Daily ETF) are both Leveraged Equities funds. BDCX is passively managed, while INTW is actively managed. Over the past year, BDCX returned -17.92% vs 1964.55% for INTW. At a 0.21 correlation, their price movements are largely independent. BDCX charges 0.95%/yr vs 1.50%/yr for INTW.

Performance

BDCX vs. INTW - 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 GraniteShares 2x Long INTC Daily ETF (INTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDCX achieves a -13.68% return, which is significantly lower than INTW's 750.22% return.

BDCX

• 1D: 0.57%
• 1M: -1.31%
• YTD: -13.68%
• 6M: -10.71%
• 1Y: -17.92%
• 3Y*: 3.31%
• 5Y*: 1.22%
• 10Y*: —

INTW

• 1D: -12.49%
• 1M: 12.21%
• YTD: 750.22%
• 6M: 775.58%
• 1Y: 1,964.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BDCX vs. INTW - Yearly Performance Comparison

	2026 (YTD)	2025
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	-13.68%	-15.50%
INTW GraniteShares 2x Long INTC Daily ETF	750.22%	60.89%

Correlation

The correlation between BDCX and INTW is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.21

Return for Risk

BDCX vs. INTW — 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

INTW

INTW Risk / Return Rank: 98
INTW Sharpe Ratio Rank: 100
INTW Sortino Ratio Rank: 96
INTW Omega Ratio Rank: 94
INTW Calmar Ratio Rank: 99
INTW Martin Ratio Rank: 99

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. INTW - 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 GraniteShares 2x Long INTC Daily ETF (INTW). 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	INTW	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	13.25	-13.90
Sortino ratio: Return per unit of downside risk	-0.81	5.13	-5.95
Omega ratio: Gain probability vs. loss probability	0.91	1.65	-0.74
Calmar ratio: Return relative to maximum drawdown	-0.59	40.32	-40.91
Martin ratio: Return relative to average drawdown	-0.99	91.49	-92.49

BDCX vs. INTW - Sharpe Ratio Comparison

The current BDCX Sharpe Ratio is -0.65, which is lower than the INTW Sharpe Ratio of 13.25. The chart below compares the historical Sharpe Ratios of BDCX and INTW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BDCX vs. INTW - Drawdown Comparison

The maximum BDCX drawdown since its inception was -34.96%, smaller than the maximum INTW drawdown of -60.58%. Use the drawdown chart below to compare losses from any high point for BDCX and INTW.

Drawdown Indicators

	BDCX	INTW	Difference
Max Drawdown Largest peak-to-trough decline	-34.96%	-60.58%	+25.62%
Max Drawdown (1Y) Largest decline over 1 year	-30.46%	-49.34%	+18.88%
Max Drawdown (3Y) Largest decline over 3 years	-33.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.96%	—	—
Current Drawdown Current decline from peak	-29.85%	-12.49%	-17.36%
Average Drawdown Average peak-to-trough decline	-10.21%	-29.66%	+19.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.05%	21.70%	-3.65%

Volatility

BDCX vs. INTW - Volatility Comparison

The current volatility for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) is 8.40%, while GraniteShares 2x Long INTC Daily ETF (INTW) has a volatility of 55.81%. This indicates that BDCX experiences smaller price fluctuations and is considered to be less risky than INTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDCX	INTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.40%	55.81%	-47.41%
Volatility (6M) Calculated over the trailing 6-month period	23.09%	119.10%	-96.01%
Volatility (1Y) Calculated over the trailing 1-year period	27.74%	150.14%	-122.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.58%	148.88%	-122.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.90%	148.88%	-121.98%

BDCX vs. INTW - Expense Ratio Comparison

BDCX has a 0.95% expense ratio, which is lower than INTW's 1.50% expense ratio.

Dividends

BDCX vs. INTW - Dividend Comparison

BDCX's dividend yield for the trailing twelve months is around 20.73%, while INTW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	20.73%	19.17%	15.28%	14.71%	17.47%	11.52%	6.32%
INTW GraniteShares 2x Long INTC Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BDCX and INTW in my portfolio?

BDCX and INTW have a correlation of 0.13, 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 INTW?

INTW has higher volatility (55.81%) compared to BDCX (8.40%). In terms of maximum drawdown, BDCX dropped -34.96% vs INTW's -60.58%.

Which ETF is better, BDCX or INTW?

On 1-year performance, INTW leads with 1964.55% vs -17.92% for BDCX. On fees, BDCX is cheaper at 0.95% per year. On volatility, BDCX has been the lower-risk option at 8.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BDCX or INTW?

Over the 1-year period, INTW has performed better with a 1964.55% return vs -17.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BDCX or INTW?

BDCX is cheaper with a 0.95% expense ratio, compared with 1.50% for INTW.

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

BDCX has the higher dividend yield at 20.73%, compared with 0.00% for INTW.

What is the main difference between BDCX and INTW?

They also come from different issuers: UBS and GraniteShares. Their fees differ too: 0.95% for BDCX and 1.50% for INTW.

Which has better risk-adjusted returns?

INTW currently has the higher Sharpe Ratio (13.25 vs -0.65), 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.