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BDCZ vs. BIZD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

BDCZ vs. BIZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS MVIS Business Development Companies Index ETN (BDCZ) and VanEck BDC Income ETF (BIZD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BDCZ achieves a -8.73% return, which is significantly higher than BIZD's -9.87% return. Over the past 10 years, BDCZ has underperformed BIZD with an annualized return of 6.05%, while BIZD has yielded a comparatively higher 7.56% annualized return.


BDCZ

1D
0.45%
1M
-0.80%
YTD
-8.73%
6M
-6.81%
1Y
-10.27%
3Y*
4.71%
5Y*
3.29%
10Y*
6.05%

BIZD

1D
0.65%
1M
-0.65%
YTD
-9.87%
6M
-8.40%
1Y
-12.75%
3Y*
5.35%
5Y*
3.92%
10Y*
7.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BDCZ vs. BIZD - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
BDCZ
ETRACS MVIS Business Development Companies Index ETN
-8.73%-3.72%12.22%25.31%-9.12%33.97%-10.95%26.00%-7.64%0.40%
BIZD
VanEck BDC Income ETF
-9.87%-4.96%15.63%27.02%-8.51%36.25%-7.12%30.87%-6.88%0.36%

Correlation

The correlation between BDCZ and BIZD is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.90

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.96

Correlation (10Y)
Calculated over the trailing 10-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Oct 9, 2015

0.79

The correlation between BDCZ and BIZD shifts across timeframes, from 0.79 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.

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Return for Risk

BDCZ vs. BIZD — Risk / Return Rank

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

BDCZ
BDCZ Risk / Return Rank: 55
Overall Rank
BDCZ Sharpe Ratio Rank: 55
Sharpe Ratio Rank
BDCZ Sortino Ratio Rank: 55
Sortino Ratio Rank
BDCZ Omega Ratio Rank: 55
Omega Ratio Rank
BDCZ Calmar Ratio Rank: 55
Calmar Ratio Rank
BDCZ Martin Ratio Rank: 55
Martin Ratio Rank

BIZD
BIZD Risk / Return Rank: 44
Overall Rank
BIZD Sharpe Ratio Rank: 44
Sharpe Ratio Rank
BIZD Sortino Ratio Rank: 33
Sortino Ratio Rank
BIZD Omega Ratio Rank: 44
Omega Ratio Rank
BIZD Calmar Ratio Rank: 44
Calmar Ratio Rank
BIZD Martin Ratio Rank: 44
Martin Ratio Rank
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.

BDCZ vs. BIZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and VanEck BDC Income ETF (BIZD). 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.


BDCZBIZDDifference
Sharpe ratioReturn per unit of total volatility

+0.19

Sortino ratioReturn per unit of downside risk

+0.31

Omega ratioGain probability vs. loss probability

0.93

0.90

+0.03

Calmar ratioReturn relative to maximum drawdown

-0.52

-0.58

+0.06

Martin ratioReturn relative to average drawdown

-0.89

-0.96

+0.07

BDCZ vs. BIZD - Sharpe Ratio Comparison

The current BDCZ Sharpe Ratio is -0.50, which is comparable to the BIZD Sharpe Ratio of -0.69. The chart below compares the historical Sharpe Ratios of BDCZ and BIZD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

BDCZ vs. BIZD - Drawdown Comparison

The maximum BDCZ drawdown since its inception was -55.63%, roughly equal to the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for BDCZ and BIZD.


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Drawdown Indicators


BDCZBIZDDifference

Max Drawdown

Largest peak-to-trough decline

-55.63%

-55.44%

-0.19%

Max Drawdown (1Y)

Largest decline over 1 year

-19.95%

-22.22%

+2.27%

Max Drawdown (3Y)

Largest decline over 3 years

-20.77%

-22.56%

+1.79%

Max Drawdown (5Y)

Largest decline over 5 years

-23.12%

-22.91%

-0.21%

Max Drawdown (10Y)

Largest decline over 10 years

-55.63%

-55.44%

-0.19%

Current Drawdown

Current decline from peak

-17.94%

-20.05%

+2.11%

Average Drawdown

Average peak-to-trough decline

-7.90%

-6.76%

-1.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.51%

13.30%

-1.79%

Volatility

BDCZ vs. BIZD - Volatility Comparison

ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 8.44% compared to VanEck BDC Income ETF (BIZD) at 5.60%. This indicates that BDCZ's price experiences larger fluctuations and is considered to be riskier than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


BDCZBIZDDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.44%

5.60%

+2.84%

Volatility (6M)

Calculated over the trailing 6-month period

17.35%

15.19%

+2.16%

Volatility (1Y)

Calculated over the trailing 1-year period

20.62%

18.50%

+2.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.81%

17.44%

+0.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.76%

21.78%

-0.02%

BDCZ vs. BIZD - Expense Ratio Comparison

BDCZ has a 0.85% expense ratio, which is lower than BIZD's 12.86% expense ratio.


Dividends

BDCZ vs. BIZD - Dividend Comparison

BDCZ's dividend yield for the trailing twelve months is around 11.37%, less than BIZD's 14.01% yield.


PositionTTM20252024202320222021202020192018201720162015
BDCZ
ETRACS MVIS Business Development Companies Index ETN
11.37%10.65%9.26%9.13%9.39%7.49%10.01%8.40%9.66%8.74%7.98%0.00%
BIZD
VanEck BDC Income ETF
14.01%11.78%10.94%10.96%11.21%8.14%10.39%9.13%10.88%9.13%8.51%9.12%

Frequently Asked Questions


BDCZ and BIZD have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BDCZ has higher volatility (8.44%) compared to BIZD (5.60%). In terms of maximum drawdown, BDCZ dropped -55.63% vs BIZD's -55.44%.

On 10-year performance, BIZD leads with 7.56% vs 6.05% for BDCZ. On fees, BDCZ is cheaper at 0.85% per year. On volatility, BIZD has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, BIZD has performed better with a 7.56% return vs 6.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BDCZ is cheaper with a 0.85% expense ratio, compared with 12.86% for BIZD.

BIZD has the higher dividend yield at 14.01%, compared with 11.37% for BDCZ.

BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while BIZD tracks MVIS US Business Development Companies Index. They also come from different issuers: UBS and VanEck. Their fees differ too: 0.85% for BDCZ and 12.86% for BIZD.

BDCZ currently has the higher Sharpe Ratio (-0.50 vs -0.69), 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.

Portfolio Optimizer

Find the right allocation for BDCZ and BIZD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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