BDCX vs. SCHD
BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%), while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 5 years, BDCX returned 2.36%/yr vs 9.00%/yr for SCHD. A 0.57 correlation means they provide meaningful diversification when combined. BDCX charges 0.95%/yr vs 0.06%/yr for SCHD.
Performance
BDCX vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, BDCX achieves a -9.11% return, which is significantly lower than SCHD's 20.66% return.
BDCX
- 1D
- -0.94%
- 1M
- 0.56%
- 6M
- -10.21%
- YTD
- -9.11%
- 1Y
- -20.58%
- 3Y*
- 2.02%
- 5Y*
- 2.36%
- 10Y*
- —
SCHD
- 1D
- 0.49%
- 1M
- -0.00%
- 6M
- 16.13%
- YTD
- 20.66%
- 1Y
- 23.51%
- 3Y*
- 14.13%
- 5Y*
- 9.00%
- 10Y*
- 12.34%
BDCX vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -9.11% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 25.40% |
SCHD Schwab U.S. Dividend Equity ETF | 20.66% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 23.84% |
Correlation
The correlation between BDCX and SCHD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.57 |
Over the past year, the correlation between BDCX and SCHD has dropped to 0.30 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.
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Return for Risk
BDCX vs. SCHD — Risk / Return Rank
BDCX
SCHD
BDCX vs. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). 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 | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.90 | ||
| Sortino ratioReturn per unit of downside risk | -4.29 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.38 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 5.12 | -5.80 |
| Martin ratioReturn relative to average drawdown | -1.09 | 12.47 | -13.56 |
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Drawdowns
BDCX vs. SCHD - Drawdown Comparison
The maximum BDCX drawdown since its inception was -34.96%, roughly equal to the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for BDCX and SCHD.
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Drawdown Indicators
| BDCX | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.96% | -33.37% | -1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -30.46% | -4.61% | -25.85% |
Max Drawdown (3Y)Largest decline over 3 years | -33.39% | -16.13% | -17.26% |
Max Drawdown (5Y)Largest decline over 5 years | -34.96% | -16.85% | -18.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.37% | — |
Current DrawdownCurrent decline from peak | -26.13% | -0.03% | -26.10% |
Average DrawdownAverage peak-to-trough decline | -10.36% | -3.31% | -7.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.86% | 1.89% | +16.97% |
Volatility
BDCX vs. SCHD - Volatility Comparison
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a higher volatility of 7.10% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.54%. This indicates that BDCX's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCX | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.10% | 3.54% | +3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 22.63% | 7.70% | +14.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.13% | 10.93% | +17.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.65% | 14.36% | +12.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.89% | 16.70% | +10.19% |
BDCX vs. SCHD - Expense Ratio Comparison
BDCX has a 0.95% expense ratio, which is higher than SCHD's 0.06% expense ratio.
Dividends
BDCX vs. SCHD - Dividend Comparison
BDCX's dividend yield for the trailing twelve months is around 19.69%, more than SCHD's 3.22% 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 | 19.69% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCHD Schwab U.S. Dividend Equity ETF | 3.22% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
Frequently Asked Questions
BDCX and SCHD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (7.10%) compared to SCHD (3.54%). In terms of maximum drawdown, BDCX dropped -34.96% vs SCHD's -33.37%.
On 5-year performance, SCHD leads with 9.00% vs 2.36% for BDCX. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHD has performed better with a 9.00% return vs 2.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 19.69%, compared with 3.22% for SCHD.
BDCX is categorized as Leveraged Equities, while SCHD is Dividend. BDCX tracks MVIS US Business Development Companies (150%), while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: UBS and Charles Schwab. Their fees differ too: 0.95% for BDCX and 0.06% for SCHD.
SCHD currently has the higher Sharpe Ratio (2.17 vs -0.74), 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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