BDCZ vs. IBTG
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and IBTG (iShares iBonds Dec 2026 Term Treasury ETF) are both exchange-traded funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while IBTG is a Government Bonds fund tracking the ICE 2026 Maturity US Treasury Index. Both are passively managed. Over the past 5 years, BDCZ returned 3.29%/yr vs 0.91%/yr for IBTG. At a correlation of -0.06, they often move in opposite directions. BDCZ charges 0.85%/yr vs 0.07%/yr for IBTG.
Performance
BDCZ vs. IBTG - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -8.73% return, which is significantly lower than IBTG's 1.62% 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%
IBTG
- 1D
- 0.02%
- 1M
- 0.23%
- YTD
- 1.62%
- 6M
- 1.66%
- 1Y
- 3.96%
- 3Y*
- 4.28%
- 5Y*
- 0.91%
- 10Y*
- —
BDCZ vs. IBTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -8.73% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | -5.22% |
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 1.62% | 4.40% | 3.97% | 4.34% | -8.18% | -3.04% | 4.23% |
Correlation
The correlation between BDCZ and IBTG is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020 | -0.06 |
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Return for Risk
BDCZ vs. IBTG — Risk / Return Rank
BDCZ
IBTG
BDCZ vs. IBTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and iShares iBonds Dec 2026 Term Treasury ETF (IBTG). 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.
| BDCZ | IBTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.40 | ||
| Sortino ratioReturn per unit of downside risk | -20.06 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 4.25 | -3.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 60.79 | -61.31 |
| Martin ratioReturn relative to average drawdown | -0.89 | 246.24 | -247.14 |
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Drawdowns
BDCZ vs. IBTG - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than IBTG's maximum drawdown of -13.62%. Use the drawdown chart below to compare losses from any high point for BDCZ and IBTG.
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Drawdown Indicators
| BDCZ | IBTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -13.62% | -42.01% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -0.07% | -19.88% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -1.11% | -19.66% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -12.31% | -10.81% |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -17.94% | 0.00% | -17.94% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -4.85% | -3.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.51% | 0.02% | +11.49% |
Volatility
BDCZ vs. IBTG - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 8.44% compared to iShares iBonds Dec 2026 Term Treasury ETF (IBTG) at 0.12%. This indicates that BDCZ's price experiences larger fluctuations and is considered to be riskier than IBTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | IBTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.44% | 0.12% | +8.32% |
Volatility (6M)Calculated over the trailing 6-month period | 17.35% | 0.30% | +17.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.62% | 0.50% | +20.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 3.25% | +14.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 3.44% | +18.32% |
BDCZ vs. IBTG - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is higher than IBTG's 0.07% expense ratio.
Dividends
BDCZ vs. IBTG - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.37%, more than IBTG's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 3.95% | 4.03% | 4.08% | 3.61% | 2.06% | 0.66% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and IBTG have a correlation of 0.00, 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 IBTG (0.12%). In terms of maximum drawdown, BDCZ dropped -55.63% vs IBTG's -13.62%.
On 5-year performance, BDCZ leads with 3.29% vs 0.91% for IBTG. On fees, IBTG is cheaper at 0.07% per year. On volatility, IBTG has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BDCZ has performed better with a 3.29% return vs 0.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTG is cheaper with a 0.07% expense ratio, compared with 0.85% for BDCZ.
BDCZ has the higher dividend yield at 11.37%, compared with 3.95% for IBTG.
BDCZ is categorized as Financials Equities, while IBTG is Government Bonds. BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while IBTG tracks ICE 2026 Maturity US Treasury Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.85% for BDCZ and 0.07% for IBTG.
IBTG currently has the higher Sharpe Ratio (7.90 vs -0.50), 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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