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 3.38%/yr vs 0.84%/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 -7.98% return, which is significantly lower than IBTG's 1.44% 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%
IBTG
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.44%
- 6M
- 1.80%
- 1Y
- 4.14%
- 3Y*
- 4.11%
- 5Y*
- 0.84%
- 10Y*
- —
BDCZ vs. IBTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -7.98% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | -1.24% |
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 1.44% | 4.40% | 3.97% | 4.34% | -8.18% | -3.04% | 3.99% |
Correlation
The correlation between BDCZ and IBTG is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 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.
| BDCZ | IBTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.52 | ||
| Sortino ratioReturn per unit of downside risk | -20.95 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 4.40 | -3.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 63.59 | -64.11 |
| Martin ratioReturn relative to average drawdown | -0.95 | 256.63 | -257.57 |
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 | IBTG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | 8.02 | -8.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.26 | -0.07 |
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 | 0.29 | -0.02 |
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% | -1.33% | -19.44% |
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 | -17.27% | 0.00% | -17.27% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -4.90% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.94% | 0.02% | +10.92% |
Volatility
BDCZ vs. IBTG - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 8.37% 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 | 8.37% | 0.12% | +8.25% |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | 0.32% | +16.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 0.52% | +19.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.80% | 3.27% | +14.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.73% | 3.45% | +18.28% |
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 11.28%, more than IBTG's 3.96% 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% |
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 3.96% | 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 -0.03, 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 IBTG (0.12%). In terms of maximum drawdown, BDCZ dropped -55.63% vs IBTG's -13.62%.
On 5-year performance, BDCZ leads with 3.38% vs 0.84% 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 3.38% return vs 0.84%. 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 11.28%, compared with 3.96% 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 (8.02 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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