BDCZ vs. FTXO
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and FTXO (First Trust Nasdaq Bank ETF) are both Financials Equities funds - BDCZ tracks the BDCZ-US - MVIS US Business Development Companies Index while FTXO tracks the NASDAQ US Banks Index. Both are passively managed. Over the past 5 years, BDCZ returned 3.38%/yr vs 5.35%/yr for FTXO. At a 0.50 correlation, their price movements are largely independent. BDCZ charges 0.85%/yr vs 0.60%/yr for FTXO.
Performance
BDCZ vs. FTXO - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -7.98% return, which is significantly lower than FTXO's 0.81% 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%
FTXO
- 1D
- -1.34%
- 1M
- -0.87%
- YTD
- 0.81%
- 6M
- 4.64%
- 1Y
- 23.41%
- 3Y*
- 24.18%
- 5Y*
- 5.35%
- 10Y*
- —
BDCZ vs. FTXO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -7.98% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | -10.95% | 26.00% | -7.64% | 0.40% |
FTXO First Trust Nasdaq Bank ETF | 0.81% | 21.32% | 29.05% | 0.05% | -17.93% | 40.53% | -12.53% | 30.11% | -21.79% | 14.25% |
Correlation
The correlation between BDCZ and FTXO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2016 | 0.50 |
The correlation between BDCZ and FTXO shifts across timeframes, from 0.40 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BDCZ vs. FTXO — Risk / Return Rank
BDCZ
FTXO
BDCZ vs. FTXO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and First Trust Nasdaq Bank ETF (FTXO). 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 | FTXO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.21 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 1.41 | -1.93 |
| Martin ratioReturn relative to average drawdown | -0.95 | 3.90 | -4.85 |
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 | FTXO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | 1.13 | -1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.20 | -0.01 |
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 | 0.31 | -0.04 |
Drawdowns
BDCZ vs. FTXO - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, roughly equal to the maximum FTXO drawdown of -55.26%. Use the drawdown chart below to compare losses from any high point for BDCZ and FTXO.
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Drawdown Indicators
| BDCZ | FTXO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -55.26% | -0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -16.69% | -3.26% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -25.84% | +5.07% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -46.55% | +23.43% |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -17.27% | -8.10% | -9.17% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -15.88% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.94% | 6.01% | +4.93% |
Volatility
BDCZ vs. FTXO - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 8.37% compared to First Trust Nasdaq Bank ETF (FTXO) at 5.69%. This indicates that BDCZ's price experiences larger fluctuations and is considered to be riskier than FTXO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | FTXO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 5.69% | +2.68% |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | 15.46% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 20.80% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.80% | 27.01% | -9.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.73% | 29.98% | -8.25% |
BDCZ vs. FTXO - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is higher than FTXO's 0.60% expense ratio.
Dividends
BDCZ vs. FTXO - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.28%, more than FTXO's 1.78% 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% |
FTXO First Trust Nasdaq Bank ETF | 1.78% | 1.92% | 2.18% | 3.20% | 2.94% | 1.64% | 2.74% | 2.53% | 3.51% | 1.09% | 0.16% |
Frequently Asked Questions
BDCZ and FTXO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCZ has higher volatility (8.37%) compared to FTXO (5.69%). In terms of maximum drawdown, BDCZ dropped -55.63% vs FTXO's -55.26%.
On 5-year performance, FTXO leads with 5.35% vs 3.38% for BDCZ. On fees, FTXO is cheaper at 0.60% per year. On volatility, FTXO has been the lower-risk option at 5.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FTXO has performed better with a 5.35% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTXO is cheaper with a 0.60% expense ratio, compared with 0.85% for BDCZ.
BDCZ has the higher dividend yield at 11.28%, compared with 1.78% for FTXO.
BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while FTXO tracks NASDAQ US Banks Index. They also come from different issuers: UBS and First Trust. Their fees differ too: 0.85% for BDCZ and 0.60% for FTXO.
FTXO currently has the higher Sharpe Ratio (1.13 vs -0.51), 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.
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