BDCZ vs. FBDC
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. BDCZ is passively managed, while FBDC is actively managed. Their correlation of 0.90 suggests significant overlap in exposure. BDCZ charges 0.85%/yr vs 1.35%/yr for FBDC.
Performance
BDCZ vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -7.98% return, which is significantly higher than FBDC's -9.51% return.
BDCZ
- 1D
- -2.73%
- 1M
- -7.44%
- YTD
- -7.98%
- 6M
- -8.99%
- 1Y
- -10.32%
- 3Y*
- 4.75%
- 5Y*
- 3.38%
- 10Y*
- 6.23%
FBDC
- 1D
- -2.98%
- 1M
- -7.81%
- YTD
- -9.51%
- 6M
- -10.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BDCZ vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -7.98% | -3.88% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -9.51% | -2.43% |
Correlation
The correlation between BDCZ and FBDC 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 (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.90 |
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Return for Risk
BDCZ vs. FBDC — Risk / Return Rank
BDCZ
FBDC
BDCZ vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and FT Confluence BDC & Specialty Finance Income ETF (FBDC). 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.
| BDCZ | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.93 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | — | — |
| Martin ratioReturn relative to average drawdown | -0.95 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BDCZ | FBDC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | -0.70 | +0.97 |
Drawdowns
BDCZ vs. FBDC - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for BDCZ and FBDC.
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Drawdown Indicators
| BDCZ | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -20.60% | -35.03% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -17.27% | -17.24% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -10.14% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.94% | — | — |
Volatility
BDCZ vs. FBDC - Volatility Comparison
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Volatility by Period
| BDCZ | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 18.06% | +2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.80% | 18.06% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.73% | 18.06% | +3.67% |
BDCZ vs. FBDC - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
BDCZ vs. FBDC - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.28%, less than FBDC's 11.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 11.28% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.52% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and FBDC 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.
On fees, BDCZ is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BDCZ is cheaper with a 0.85% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.52%, compared with 11.28% for BDCZ.
They also come from different issuers: UBS and First Trust. Their fees differ too: 0.85% for BDCZ and 1.35% for FBDC.
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