BDCX vs. VOO
BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, BDCX returned 1.20%/yr vs 13.58%/yr for VOO. A 0.57 correlation means they provide meaningful diversification when combined. BDCX charges 0.95%/yr vs 0.03%/yr for VOO.
Performance
BDCX vs. VOO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BDCX achieves a -14.17% return, which is significantly lower than VOO's 9.75% return.
BDCX
- 1D
- -1.41%
- 1M
- -1.87%
- YTD
- -14.17%
- 6M
- -13.63%
- 1Y
- -19.48%
- 3Y*
- 3.12%
- 5Y*
- 1.20%
- 10Y*
- —
VOO
- 1D
- -0.29%
- 1M
- 0.08%
- YTD
- 9.75%
- 6M
- 9.30%
- 1Y
- 26.77%
- 3Y*
- 21.36%
- 5Y*
- 13.58%
- 10Y*
- 15.77%
BDCX vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -14.17% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 25.40% |
VOO Vanguard S&P 500 ETF | 9.75% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 22.98% |
Correlation
The correlation between BDCX and VOO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.57 |
The correlation between BDCX and VOO shifts across timeframes, from 0.45 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.
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. VOO — Risk / Return Rank
BDCX
VOO
BDCX vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.88 | ||
| Sortino ratioReturn per unit of downside risk | -3.84 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.39 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 3.02 | -3.66 |
| Martin ratioReturn relative to average drawdown | -1.09 | 13.58 | -14.67 |
Loading charts...
Drawdowns
BDCX vs. VOO - Drawdown Comparison
The maximum BDCX drawdown since its inception was -34.96%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for BDCX and VOO.
Loading charts...
Drawdown Indicators
| BDCX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.96% | -33.99% | -0.97% |
Max Drawdown (1Y)Largest decline over 1 year | -30.46% | -8.90% | -21.56% |
Max Drawdown (3Y)Largest decline over 3 years | -33.39% | -18.69% | -14.70% |
Max Drawdown (5Y)Largest decline over 5 years | -34.96% | -24.52% | -10.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.99% | — |
Current DrawdownCurrent decline from peak | -30.24% | -1.74% | -28.50% |
Average DrawdownAverage peak-to-trough decline | -10.20% | -3.68% | -6.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.97% | 1.98% | +15.99% |
Volatility
BDCX vs. VOO - Volatility Comparison
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a higher volatility of 8.37% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that BDCX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BDCX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 4.60% | +3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 23.09% | 9.73% | +13.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.79% | 12.39% | +15.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.58% | 16.90% | +9.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.91% | 18.05% | +8.86% |
BDCX vs. VOO - Expense Ratio Comparison
BDCX has a 0.95% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
BDCX vs. VOO - Dividend Comparison
BDCX's dividend yield for the trailing twelve months is around 20.85%, more than VOO's 1.04% 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 | 20.85% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.04% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
BDCX and VOO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (8.37%) compared to VOO (4.60%). In terms of maximum drawdown, BDCX dropped -34.96% vs VOO's -33.99%.
On 5-year performance, VOO leads with 13.58% vs 1.20% for BDCX. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VOO has performed better with a 13.58% return vs 1.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.85%, compared with 1.04% for VOO.
BDCX is categorized as Leveraged Equities, while VOO is S&P 500. BDCX tracks MVIS US Business Development Companies (150%), while VOO tracks S&P 500 Index. They also come from different issuers: UBS and Vanguard. Their fees differ too: 0.95% for BDCX and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (2.17 vs -0.70), 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 VOO
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