BDCX vs. SGOV
BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%), while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, BDCX returned 1.22%/yr vs 3.55%/yr for SGOV. At a correlation of -0.02, they often move in opposite directions. BDCX charges 0.95%/yr vs 0.09%/yr for SGOV.
Performance
BDCX vs. SGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BDCX achieves a -11.90% return, which is significantly lower than SGOV's 1.56% return.
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.70%
- 5Y*
- 3.55%
- 10Y*
- —
BDCX vs. SGOV - 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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.56% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between BDCX and SGOV is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | -0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BDCX vs. SGOV — Risk / Return Rank
BDCX
SGOV
BDCX vs. SGOV - 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 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.93 | ||
| Sortino ratioReturn per unit of downside risk | -276.51 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 195.55 | -194.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 398.20 | -398.79 |
| Martin ratioReturn relative to average drawdown | -1.04 | 4,461.99 | -4,463.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BDCX | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 20.28 | -20.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 14.78 | -14.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 12.50 | -12.07 |
Drawdowns
BDCX vs. SGOV - Drawdown Comparison
The maximum BDCX drawdown since its inception was -34.96%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BDCX and SGOV.
Loading charts...
Drawdown Indicators
| BDCX | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.96% | -0.03% | -34.93% |
Max Drawdown (1Y)Largest decline over 1 year | -30.46% | -0.01% | -30.45% |
Max Drawdown (3Y)Largest decline over 3 years | -33.39% | -0.01% | -33.38% |
Max Drawdown (5Y)Largest decline over 5 years | -34.96% | -0.03% | -34.93% |
Current DrawdownCurrent decline from peak | -28.40% | 0.00% | -28.40% |
Average DrawdownAverage peak-to-trough decline | -10.10% | -0.00% | -10.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.35% | 0.00% | +17.35% |
Volatility
BDCX vs. SGOV - Volatility Comparison
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a higher volatility of 8.65% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that BDCX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BDCX | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.65% | 0.06% | +8.59% |
Volatility (6M)Calculated over the trailing 6-month period | 22.81% | 0.13% | +22.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.60% | 0.20% | +27.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.59% | 0.24% | +26.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.94% | 0.24% | +26.70% |
BDCX vs. SGOV - Expense Ratio Comparison
BDCX has a 0.95% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
BDCX vs. SGOV - Dividend Comparison
BDCX's dividend yield for the trailing twelve months is around 20.31%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
BDCX and SGOV have a correlation of -0.06, 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 SGOV (0.06%). In terms of maximum drawdown, BDCX dropped -34.96% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.55% vs 1.22% for BDCX. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.55% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 3.85% for SGOV.
BDCX is categorized as Leveraged Equities, while SGOV is Ultrashort Bond. BDCX tracks MVIS US Business Development Companies (150%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.95% for BDCX and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 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.
Find the right allocation for BDCX and SGOV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer