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 3.98%/yr vs 0.77%/yr for IBTG. Their -0.06 correlation means they have often moved in opposite directions in the past. 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 -6.58% return, which is significantly lower than IBTG's 2.02% return.
BDCZ
- 1D
- -0.16%
- 1M
- -1.29%
- 6M
- -6.46%
- YTD
- -6.58%
- 1Y
- -10.62%
- 3Y*
- 2.54%
- 5Y*
- 3.98%
- 10Y*
- 6.30%
- ALL TIME*
- 5.90%
IBTG
- 1D
- 0.00%
- 1M
- 0.28%
- 6M
- 1.75%
- YTD
- 2.02%
- 1Y
- 3.80%
- 3Y*
- 4.49%
- 5Y*
- 0.77%
- 10Y*
- —
- ALL TIME*
- 1.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.15K | $28.17K | $19.88K | |
| $8.21M | $9.03M | $9.64M |
BDCZ vs. IBTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -6.58% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | -5.22% |
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 2.02% | 4.40% | 3.97% | 4.34% | -8.18% | -3.04% | 4.23% |
Correlation
The correlation between BDCZ and IBTG is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer 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 | -8.64 | ||
| Sortino ratioReturn per unit of downside risk | -21.75 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 4.52 | -3.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 61.65 | -62.35 |
| Martin ratioReturn relative to average drawdown | -1.24 | 275.13 | -276.37 |
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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 | -16.80% | -0.07% | -16.73% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -1.11% | -19.66% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -12.27% | -10.85% |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -16.01% | 0.00% | -16.01% |
Average DrawdownAverage peak-to-trough decline | -7.98% | -4.77% | -3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.36% | 0.01% | +9.35% |
Volatility
BDCZ vs. IBTG - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 5.90% compared to iShares iBonds Dec 2026 Term Treasury ETF (IBTG) at 0.11%. 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 | 5.90% | 0.11% | +5.79% |
Volatility (6M)Calculated over the trailing 6-month period | 18.49% | 0.29% | +18.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 0.50% | +22.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 3.23% | +15.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.96% | 3.41% | +18.55% |
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 12.12%, more than IBTG's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 12.12% | 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 | 3.57% | 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 (5.90%) compared to IBTG (0.11%). In terms of maximum drawdown, BDCZ dropped -55.63% vs IBTG's -13.62%.
On 5-year performance, BDCZ leads with 3.98% vs 0.77% for IBTG. On fees, IBTG is cheaper at 0.07% per year. On volatility, IBTG has been the lower-risk option at 0.11%. 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 3.98% return vs 0.77%. 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 12.12%, compared with 3.57% 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 (8.13 vs -0.52), 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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