BDCX vs. TSLG

Last updated Apr 1, 2026

Compare and contrast key facts about ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and Leverage Shares 2X Long TSLA Daily ETF (TSLG).

BDCX and TSLG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BDCX is a passively managed fund by UBS that tracks the performance of the MVIS US Business Development Companies (150%). It was launched on Jun 2, 2020. TSLG is an actively managed fund by Leverage Shares. It was launched on Dec 12, 2024.

Performance

BDCX vs. TSLG - 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 Leverage Shares 2X Long TSLA Daily ETF (TSLG). The values are adjusted to include any dividend payments, if applicable.

BDCX vs. TSLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	-13.54%	-10.42%	1.06%
TSLG Leverage Shares 2X Long TSLA Daily ETF	-35.84%	-26.70%	-16.81%

Returns By Period

In the year-to-date period, BDCX achieves a -13.54% return, which is significantly higher than TSLG's -35.84% return.

BDCX

• 1D: 3.32%
• 1M: 1.87%
• YTD: -13.54%
• 6M: -13.47%
• 1Y: -23.11%
• 3Y*: 4.64%
• 5Y*: 3.38%
• 10Y*: —

TSLG

• 1D: 9.07%
• 1M: -16.83%
• YTD: -35.84%
• 6M: -39.88%
• 1Y: 34.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BDCX vs. TSLG - Expense Ratio Comparison

BDCX has a 0.95% expense ratio, which is higher than TSLG's 0.75% expense ratio.

BDCX

ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN

TSLG

Leverage Shares 2X Long TSLA Daily ETF

Return for Risk

BDCX vs. TSLG — Risk / Return Rank

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

BDCX

BDCX Risk / Return Rank: 2
BDCX Sharpe Ratio Rank: 2
BDCX Sortino Ratio Rank: 2
BDCX Omega Ratio Rank: 2
BDCX Calmar Ratio Rank: 1
BDCX Martin Ratio Rank: 1

TSLG

TSLG Risk / Return Rank: 30
TSLG Sharpe Ratio Rank: 20
TSLG Sortino Ratio Rank: 45
TSLG Omega Ratio Rank: 38
TSLG Calmar Ratio Rank: 25
TSLG Martin Ratio Rank: 20

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. TSLG - 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 Leverage Shares 2X Long TSLA Daily ETF (TSLG). 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	TSLG	Difference
Sharpe ratio Return per unit of total volatility	-0.72	0.32	-1.04
Sortino ratio Return per unit of downside risk	-0.91	1.26	-2.16
Omega ratio Gain probability vs. loss probability	0.89	1.15	-0.27
Calmar ratio Return relative to maximum drawdown	-0.77	0.59	-1.37
Martin ratio Return relative to average drawdown	-1.55	1.27	-2.82
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. TSLG - Sharpe Ratio Comparison

The current BDCX Sharpe Ratio is -0.72, which is lower than the TSLG Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of BDCX and TSLG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BDCX	TSLG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.72	0.32	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	-0.44	+0.87

Correlation

The correlation between BDCX and TSLG is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BDCX vs. TSLG - Dividend Comparison

BDCX's dividend yield for the trailing twelve months is around 22.24%, more than TSLG's 10.20% yield.

	TTM	2025	2024	2023	2022	2021	2020
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	22.24%	19.17%	15.28%	14.71%	17.47%	11.52%	6.32%
TSLG Leverage Shares 2X Long TSLA Daily ETF	10.20%	6.55%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BDCX vs. TSLG - Drawdown Comparison

The maximum BDCX drawdown since its inception was -34.96%, smaller than the maximum TSLG drawdown of -82.86%. Use the drawdown chart below to compare losses from any high point for BDCX and TSLG.

Drawdown Indicators

	BDCX	TSLG	Difference
Max Drawdown Largest peak-to-trough decline	-34.96%	-82.86%	+47.90%
Max Drawdown (1Y) Largest decline over 1 year	-30.46%	-50.92%	+20.46%
Max Drawdown (5Y) Largest decline over 5 years	-34.96%	—	—
Current Drawdown Current decline from peak	-29.73%	-67.59%	+37.86%
Average Drawdown Average peak-to-trough decline	-9.60%	-58.04%	+48.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.20%	23.82%	-8.62%

Volatility

BDCX vs. TSLG - Volatility Comparison

The current volatility for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) is 9.44%, while Leverage Shares 2X Long TSLA Daily ETF (TSLG) has a volatility of 22.28%. This indicates that BDCX experiences smaller price fluctuations and is considered to be less risky than TSLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDCX	TSLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.44%	22.28%	-12.84%
Volatility (6M) Calculated over the trailing 6-month period	20.78%	59.35%	-38.57%
Volatility (1Y) Calculated over the trailing 1-year period	32.13%	110.61%	-78.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.00%	119.00%	-93.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.63%	119.00%	-92.37%